USCL vs. ECLN

Last updated Jul 17, 2026

USCL (iShares Climate Conscious & Transition MSCI USA ETF) and ECLN (First Trust EIP Carbon Impact ETF) are both exchange-traded funds - USCL is a Large Cap Blend Equities fund tracking the MSCI USA Extended Climate Action Index, while ECLN is a Utilities Equities fund actively managed by First Trust. USCL is passively managed, while ECLN is actively managed. At a 0.32 correlation, their price movements are largely independent. USCL charges 0.08%/yr vs 0.97%/yr for ECLN.

Performance

USCL vs. ECLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Climate Conscious & Transition MSCI USA ETF (USCL) and First Trust EIP Carbon Impact ETF (ECLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USCL

• 1D: -0.53%
• 1M: 1.06%
• 6M: 6.65%
• YTD: 7.03%
• 1Y: 15.24%
• 3Y*: 18.26%
• 5Y*: —
• 10Y*: —

ECLN

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USCL vs. ECLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USCL iShares Climate Conscious & Transition MSCI USA ETF	7.03%	14.26%	27.04%	12.71%
ECLN First Trust EIP Carbon Impact ETF	12.96%	16.78%	22.60%	-1.38%

Correlation

The correlation between USCL and ECLN is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 8, 2023	0.32

The correlation between USCL and ECLN shifts across timeframes, from 0.17 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

USCL vs. ECLN - Sectors Allocation Comparison

Sectors	USCL	ECLN
Technology	40.2%	0.5%
Communication Services	11.6%	-
Consumer Cyclical	10.3%	-
Healthcare	9.8%	-
Financial Services	9.6%	-
Industrials	7.0%	6.8%
Consumer Defensive	4.1%	-
Utilities	2.0%	76.4%
Real Estate	1.8%	-
Energy	1.8%	16.3%
Basic Materials	1.6%	-

Return for Risk

USCL vs. ECLN — Risk / Return Rank

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

USCL

USCL Risk / Return Rank: 39
USCL Sharpe Ratio Rank: 41
USCL Sortino Ratio Rank: 38
USCL Omega Ratio Rank: 39
USCL Calmar Ratio Rank: 35
USCL Martin Ratio Rank: 43

ECLN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

USCL vs. ECLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Climate Conscious & Transition MSCI USA ETF (USCL) and First Trust EIP Carbon Impact ETF (ECLN). 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.

	USCL	ECLN	Difference
Sharpe ratio: Return per unit of total volatility	1.21	—	—
Sortino ratio: Return per unit of downside risk	1.69	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.50	—	—
Martin ratio: Return relative to average drawdown	5.58	—	—

Drawdowns

Drawdown Indicators

	USCL	ECLN	Difference
Max Drawdown Largest peak-to-trough decline	-19.00%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.00%	—	—
Current Drawdown Current decline from peak	-0.87%	—	—
Average Drawdown Average peak-to-trough decline	-2.27%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	—	—

Volatility

Volatility by Period

	USCL	ECLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.00%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.70%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.85%	—	—

USCL vs. ECLN - Expense Ratio Comparison

USCL has a 0.08% expense ratio, which is lower than ECLN's 0.97% expense ratio.

Dividends

USCL vs. ECLN - Dividend Comparison

USCL's dividend yield for the trailing twelve months is around 1.09%, while ECLN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ECLN First Trust EIP Carbon Impact ETF	1.43%	1.97%	2.52%	2.54%	1.72%	1.66%	1.68%	0.71%
USCL iShares Climate Conscious & Transition MSCI USA ETF	1.09%	1.10%	1.18%	0.85%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USCL and ECLN in my portfolio?

USCL and ECLN have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USCL or ECLN?

On fees, USCL is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USCL or ECLN?

USCL is cheaper with a 0.08% expense ratio, compared with 0.97% for ECLN.

Which ETF pays a higher dividend yield, USCL or ECLN?

ECLN has the higher dividend yield at 1.43%, compared with 1.09% for USCL.

What is the main difference between USCL and ECLN?

USCL is categorized as Large Cap Blend Equities, while ECLN is Utilities Equities. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.08% for USCL and 0.97% for ECLN.