SXLE.L vs. RAYG.L
SXLE.L (State Street SPDR S&P U.S. Energy Select Sector UCITS ETF) and RAYG.L (Global X Solar UCITS ETF USD Accumulating) are both Energy Equities funds - SXLE.L tracks the S&P Energy Select Sector Daily Capped 35/20 Index while RAYG.L tracks the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 3 years, SXLE.L returned 17.26%/yr vs -2.33%/yr for RAYG.L. At a 0.17 correlation, their price movements are largely independent. SXLE.L charges 0.15%/yr vs 0.50%/yr for RAYG.L.
Performance
SXLE.L vs. RAYG.L - Performance Comparison
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Different Trading Currencies
SXLE.L is traded in USD, while RAYG.L is traded in GBP. To make them comparable, the RAYG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SXLE.L achieves a 30.51% return, which is significantly higher than RAYG.L's 21.20% return.
SXLE.L
- 1D
- -0.28%
- 1M
- -1.01%
- YTD
- 30.51%
- 6M
- 29.43%
- 1Y
- 46.36%
- 3Y*
- 17.26%
- 5Y*
- 20.21%
- 10Y*
- 9.59%
RAYG.L
- 1D
- -2.39%
- 1M
- 3.88%
- YTD
- 21.20%
- 6M
- 26.70%
- 1Y
- 82.91%
- 3Y*
- -2.33%
- 5Y*
- —
- 10Y*
- —
SXLE.L vs. RAYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SXLE.L State Street SPDR S&P U.S. Energy Select Sector UCITS ETF | 30.51% | 9.74% | 3.75% | 0.62% | 31.06% |
RAYG.L Global X Solar UCITS ETF USD Accumulating | 21.20% | 40.06% | -28.26% | -33.04% | 3.01% |
Correlation
The correlation between SXLE.L and RAYG.L is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.17 |
The correlation between SXLE.L and RAYG.L shifts across timeframes, from -0.05 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SXLE.L vs. RAYG.L — Risk / Return Rank
SXLE.L
RAYG.L
SXLE.L vs. RAYG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P U.S. Energy Select Sector UCITS ETF (SXLE.L) and Global X Solar UCITS ETF USD Accumulating (RAYG.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| SXLE.L | RAYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.39 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 5.59 | -2.42 |
| Martin ratioReturn relative to average drawdown | 9.94 | 15.28 | -5.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SXLE.L | RAYG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 2.53 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | -0.12 | +0.46 |
Drawdowns
SXLE.L vs. RAYG.L - Drawdown Comparison
The maximum SXLE.L drawdown since its inception was -66.60%, roughly equal to the maximum RAYG.L drawdown of -68.99%. Use the drawdown chart below to compare losses from any high point for SXLE.L and RAYG.L.
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Drawdown Indicators
| SXLE.L | RAYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.60% | -68.99% | +2.39% |
Max Drawdown (1Y)Largest decline over 1 year | -14.55% | -14.76% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -20.90% | -57.77% | +36.87% |
Max Drawdown (5Y)Largest decline over 5 years | -27.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -66.60% | — | — |
Current DrawdownCurrent decline from peak | -7.44% | -34.96% | +27.52% |
Average DrawdownAverage peak-to-trough decline | -13.96% | -40.23% | +26.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.65% | 5.41% | -0.76% |
Volatility
SXLE.L vs. RAYG.L - Volatility Comparison
The current volatility for State Street SPDR S&P U.S. Energy Select Sector UCITS ETF (SXLE.L) is 8.15%, while Global X Solar UCITS ETF USD Accumulating (RAYG.L) has a volatility of 8.84%. This indicates that SXLE.L experiences smaller price fluctuations and is considered to be less risky than RAYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SXLE.L | RAYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 8.84% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 18.52% | 22.65% | -4.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.87% | 32.59% | -10.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.65% | 34.24% | -7.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.66% | 34.24% | -5.58% |
SXLE.L vs. RAYG.L - Expense Ratio Comparison
SXLE.L has a 0.15% expense ratio, which is lower than RAYG.L's 0.50% expense ratio.
Dividends
SXLE.L vs. RAYG.L - Dividend Comparison
Neither SXLE.L nor RAYG.L has paid dividends to shareholders.
Frequently Asked Questions
SXLE.L and RAYG.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SXLE.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SXLE.L is cheaper with a 0.15% expense ratio, compared with 0.50% for RAYG.L.
SXLE.L tracks S&P Energy Select Sector Daily Capped 35/20 Index, while RAYG.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: State Street and Global X. Their fees differ too: 0.15% for SXLE.L and 0.50% for RAYG.L.
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