TAN vs. QCLN
Compare and contrast key facts about Invesco Solar ETF (TAN) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN).
TAN and QCLN 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. QCLN is a passively managed fund by First Trust that tracks the performance of the NASDAQ Clean Edge Green Energy. It was launched on Feb 8, 2007. Both TAN and QCLN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TAN or QCLN.
Key characteristics
| TAN | QCLN | |
|---|---|---|
| YTD Return | -34.70% | -19.83% |
| 1Y Return | -24.24% | -5.39% |
| 3Y Return (Ann) | -29.59% | -25.23% |
| 5Y Return (Ann) | 4.70% | 8.68% |
| 10Y Return (Ann) | 1.10% | 7.53% |
| Sharpe Ratio | -0.39 | 0.06 |
| Sortino Ratio | -0.33 | 0.35 |
| Omega Ratio | 0.96 | 1.04 |
| Calmar Ratio | -0.19 | 0.03 |
| Martin Ratio | -0.78 | 0.11 |
| Ulcer Index | 20.97% | 18.23% |
| Daily Std Dev | 41.66% | 35.47% |
| Max Drawdown | -95.29% | -76.18% |
| Current Drawdown | -84.08% | -61.28% |
Correlation
The correlation between TAN and QCLN is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TAN vs. QCLN - Performance Comparison
In the year-to-date period, TAN achieves a -34.70% return, which is significantly lower than QCLN's -19.83% return. Over the past 10 years, TAN has underperformed QCLN with an annualized return of 1.10%, while QCLN has yielded a comparatively higher 7.53% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TAN vs. QCLN - Expense Ratio Comparison
TAN has a 0.69% expense ratio, which is higher than QCLN's 0.60% expense ratio.
Risk-Adjusted Performance
TAN vs. QCLN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Solar ETF (TAN) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). 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.
Dividends
TAN vs. QCLN - Dividend Comparison
TAN's dividend yield for the trailing twelve months is around 0.14%, less than QCLN's 1.00% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAN Invesco Solar ETF | 0.14% | 0.09% | 0.00% | 0.00% | 0.09% | 0.30% | 0.70% | 1.77% | 5.04% | 1.60% | 1.88% | 1.28% |
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund | 1.00% | 0.76% | 0.33% | 0.01% | 0.30% | 0.85% | 1.03% | 0.45% | 1.25% | 0.72% | 0.78% | 0.41% |
Drawdowns
TAN vs. QCLN - Drawdown Comparison
The maximum TAN drawdown since its inception was -95.29%, which is greater than QCLN's maximum drawdown of -76.18%. Use the drawdown chart below to compare losses from any high point for TAN and QCLN. For additional features, visit the drawdowns tool.
Volatility
TAN vs. QCLN - Volatility Comparison
Invesco Solar ETF (TAN) has a higher volatility of 15.62% compared to First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) at 8.63%. This indicates that TAN's price experiences larger fluctuations and is considered to be riskier than QCLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.