TDIV.AS vs. ICLN
TDIV.AS (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - TDIV.AS is a Global Equity Income fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 10 years, TDIV.AS returned 12.10%/yr vs 8.45%/yr for ICLN. At a 0.31 correlation, their price movements are largely independent. TDIV.AS charges 0.38%/yr vs 0.39%/yr for ICLN.
Performance
TDIV.AS vs. ICLN - Performance Comparison
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Different Trading Currencies
TDIV.AS is traded in EUR, while ICLN is traded in USD. To make them comparable, the ICLN values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with TDIV.AS having a 14.59% return and ICLN slightly lower at 13.92%. Over the past 10 years, TDIV.AS has outperformed ICLN with an annualized return of 12.10%, while ICLN has yielded a comparatively lower 8.45% annualized return.
TDIV.AS
- 1D
- -0.24%
- 1M
- 3.97%
- 6M
- 12.62%
- YTD
- 14.59%
- 1Y
- 31.36%
- 3Y*
- 20.92%
- 5Y*
- 18.64%
- 10Y*
- 12.10%
- ALL TIME*
- 12.50%
ICLN
- 1D
- -1.05%
- 1M
- -13.67%
- 6M
- 4.42%
- YTD
- 13.92%
- 1Y
- 37.43%
- 3Y*
- -0.43%
- 5Y*
- -2.61%
- 10Y*
- 8.45%
- ALL TIME*
- -2.06%
TDIV.AS vs. ICLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 14.59% | 24.39% | 15.90% | 11.75% | 15.40% | 27.83% | -10.16% | 20.97% | -7.12% | 2.88% |
ICLN iShares Global Clean Energy ETF | 13.92% | 29.60% | -20.81% | -22.79% | 0.43% | -18.51% | 121.89% | 47.62% | -4.76% | 6.54% |
Correlation
The correlation between TDIV.AS and ICLN is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.31 |
Over the past year, the correlation between TDIV.AS and ICLN has dropped to 0.11 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
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Return for Risk
TDIV.AS vs. ICLN — Risk / Return Rank
TDIV.AS
ICLN
TDIV.AS vs. ICLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) and iShares Global Clean Energy ETF (ICLN). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TDIV.AS | ICLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.09 | ||
| Sortino ratioReturn per unit of downside risk | +3.00 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.22 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 8.81 | 1.71 | +7.09 |
| Martin ratioReturn relative to average drawdown | 24.98 | 5.72 | +19.25 |
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Drawdowns
TDIV.AS vs. ICLN - Drawdown Comparison
The maximum TDIV.AS drawdown since its inception was -36.10%, smaller than the maximum ICLN drawdown of -84.40%. Use the drawdown chart below to compare losses from any high point for TDIV.AS and ICLN.
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Drawdown Indicators
| TDIV.AS | ICLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.10% | -84.40% | +48.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.51% | -21.97% | +18.46% |
Max Drawdown (3Y)Largest decline over 3 years | -15.88% | -41.70% | +25.82% |
Max Drawdown (5Y)Largest decline over 5 years | -15.88% | -57.06% | +41.18% |
Max Drawdown (10Y)Largest decline over 10 years | -36.10% | -62.76% | +26.66% |
Current DrawdownCurrent decline from peak | -0.24% | -37.30% | +37.06% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -57.84% | +53.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 6.56% | -5.31% |
Volatility
TDIV.AS vs. ICLN - Volatility Comparison
The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) is 2.17%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 11.31%. This indicates that TDIV.AS experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TDIV.AS | ICLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.17% | 11.31% | -9.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.81% | 23.54% | -16.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.11% | 28.71% | -19.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.03% | 26.36% | -13.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.59% | 26.71% | -12.12% |
TDIV.AS vs. ICLN - Expense Ratio Comparison
TDIV.AS has a 0.38% expense ratio, which is lower than ICLN's 0.39% expense ratio.
Dividends
TDIV.AS vs. ICLN - Dividend Comparison
TDIV.AS's dividend yield for the trailing twelve months is around 3.06%, more than ICLN's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICLN iShares Global Clean Energy ETF | 1.02% | 1.63% | 1.85% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% |
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 3.06% | 3.58% | 4.19% | 4.98% | 4.58% | 3.98% | 4.12% | 4.40% | 4.93% | 3.95% | 1.11% | 0.00% |
Frequently Asked Questions
TDIV.AS and ICLN have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TDIV.AS is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TDIV.AS is cheaper with a 0.38% expense ratio, compared with 0.39% for ICLN.
TDIV.AS is categorized as Global Equity Income, while ICLN is Alternative Energy Equities. TDIV.AS tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while ICLN tracks S&P Global Clean Energy Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.38% for TDIV.AS and 0.39% for ICLN.
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