TAN vs. INRG.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Solar ETF (TAN) and iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L).

TAN and INRG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TAN is a passively managed fund by Invesco that tracks the performance of the MAC Global Solar Energy Index. It was launched on Apr 15, 2008. INRG.L is a passively managed fund by iShares that tracks the performance of the S&P Global Clean Energy TR USD. It was launched on Jul 9, 2007. Both TAN and INRG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

TAN vs. INRG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Solar ETF (TAN) and iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L). The values are adjusted to include any dividend payments, if applicable.

TAN vs. INRG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TAN Invesco Solar ETF	14.56%	48.31%	-37.61%	-26.79%	-5.24%	-25.10%	233.96%	66.53%	-25.67%	54.38%
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist)	12.16%	44.28%	-25.89%	-19.97%	-5.86%	-24.60%	141.91%	44.08%	-8.92%	19.91%

Different Trading Currencies

TAN is traded in USD, while INRG.L is traded in GBp. To make them comparable, the INRG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TAN achieves a 14.56% return, which is significantly higher than INRG.L's 12.16% return. Over the past 10 years, TAN has outperformed INRG.L with an annualized return of 10.44%, while INRG.L has yielded a comparatively lower 8.70% annualized return.

TAN

• 1D: 1.01%
• 1M: -0.16%
• YTD: 14.56%
• 6M: 24.82%
• 1Y: 82.69%
• 3Y*: -10.00%
• 5Y*: -9.00%
• 10Y*: 10.44%

INRG.L

• 1D: 2.99%
• 1M: 1.42%
• YTD: 12.16%
• 6M: 17.91%
• 1Y: 62.97%
• 3Y*: -1.13%
• 5Y*: -4.58%
• 10Y*: 8.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TAN vs. INRG.L - Expense Ratio Comparison

TAN has a 0.69% expense ratio, which is higher than INRG.L's 0.65% expense ratio.

TAN

Invesco Solar ETF

INRG.L

iShares Global Clean Energy UCITS ETF USD (Dist)

Return for Risk

TAN vs. INRG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TAN

TAN Risk / Return Rank: 91
TAN Sharpe Ratio Rank: 91
TAN Sortino Ratio Rank: 91
TAN Omega Ratio Rank: 82
TAN Calmar Ratio Rank: 97
TAN Martin Ratio Rank: 93

INRG.L

INRG.L Risk / Return Rank: 94
INRG.L Sharpe Ratio Rank: 95
INRG.L Sortino Ratio Rank: 96
INRG.L Omega Ratio Rank: 92
INRG.L Calmar Ratio Rank: 96
INRG.L Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TAN vs. INRG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Solar ETF (TAN) and iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.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.

	TAN	INRG.L	Difference
Sharpe ratio Return per unit of total volatility	2.10	2.54	-0.43
Sortino ratio Return per unit of downside risk	2.68	3.24	-0.55
Omega ratio Gain probability vs. loss probability	1.33	1.40	-0.07
Calmar ratio Return relative to maximum drawdown	5.21	5.33	-0.12
Martin ratio Return relative to average drawdown	13.78	15.55	-1.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TAN vs. INRG.L - Sharpe Ratio Comparison

The current TAN Sharpe Ratio is 2.10, which is comparable to the INRG.L Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of TAN and INRG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TAN	INRG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.54	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	-0.17	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.33	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	-0.11	-0.04

Correlation

The correlation between TAN and INRG.L is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TAN vs. INRG.L - Dividend Comparison

TAN has not paid dividends to shareholders, while INRG.L's dividend yield for the trailing twelve months is around 1.18%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist)	1.18%	1.34%	1.24%	0.80%	0.51%	0.74%	0.48%	1.60%	2.81%	2.83%	2.73%	2.55%

Drawdowns

TAN vs. INRG.L - Drawdown Comparison

The maximum TAN drawdown since its inception was -95.29%, which is greater than INRG.L's maximum drawdown of -89.04%. Use the drawdown chart below to compare losses from any high point for TAN and INRG.L.

Drawdown Indicators

	TAN	INRG.L	Difference
Max Drawdown Largest peak-to-trough decline	-95.29%	-85.70%	-9.59%
Max Drawdown (1Y) Largest decline over 1 year	-16.25%	-12.62%	-3.63%
Max Drawdown (5Y) Largest decline over 5 years	-73.95%	-57.62%	-16.33%
Max Drawdown (10Y) Largest decline over 10 years	-78.53%	-65.78%	-12.75%
Current Drawdown Current decline from peak	-74.16%	-41.53%	-32.63%
Average Drawdown Average peak-to-trough decline	-78.57%	-58.14%	-20.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.15%	4.37%	+1.78%

Volatility

TAN vs. INRG.L - Volatility Comparison

Invesco Solar ETF (TAN) has a higher volatility of 10.07% compared to iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) at 7.68%. This indicates that TAN's price experiences larger fluctuations and is considered to be riskier than INRG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAN	INRG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.07%	7.68%	+2.39%
Volatility (6M) Calculated over the trailing 6-month period	26.24%	18.74%	+7.50%
Volatility (1Y) Calculated over the trailing 1-year period	39.51%	24.73%	+14.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.82%	26.79%	+13.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.78%	26.43%	+11.35%