WNDG.L vs. RAYS.L
WNDG.L (Global X Wind Energy UCITS ETF USD Accumulating) and RAYS.L (Invesco Solar Energy UCITS ETF Acc) are both Energy Equities funds tracking the S&P Global Clean Energy TR USD, from Global X and Invesco respectively. Both are passively managed. Over the past 3 years, WNDG.L returned -0.34%/yr vs -3.85%/yr for RAYS.L. A 0.54 correlation means they provide meaningful diversification when combined. WNDG.L charges 0.50%/yr vs 0.69%/yr for RAYS.L.
Performance
WNDG.L vs. RAYS.L - Performance Comparison
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Different Trading Currencies
WNDG.L is traded in GBP, while RAYS.L is traded in GBp. To make them comparable, the RAYS.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, WNDG.L achieves a 16.77% return, which is significantly lower than RAYS.L's 39.17% return.
WNDG.L
- 1D
- -1.72%
- 1M
- -7.33%
- YTD
- 16.77%
- 6M
- 17.87%
- 1Y
- 43.50%
- 3Y*
- -0.34%
- 5Y*
- —
- 10Y*
- —
RAYS.L
- 1D
- -1.94%
- 1M
- 15.83%
- YTD
- 39.17%
- 6M
- 42.81%
- 1Y
- 107.94%
- 3Y*
- -3.85%
- 5Y*
- —
- 10Y*
- —
WNDG.L vs. RAYS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WNDG.L Global X Wind Energy UCITS ETF USD Accumulating | 16.77% | 23.53% | -18.76% | -23.82% | -3.71% |
RAYS.L Invesco Solar Energy UCITS ETF Acc | 39.17% | 36.36% | -36.34% | -29.61% | 22.75% |
Correlation
The correlation between WNDG.L and RAYS.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.54 |
The correlation between WNDG.L and RAYS.L shifts across timeframes, from 0.43 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WNDG.L vs. RAYS.L — Risk / Return Rank
WNDG.L
RAYS.L
WNDG.L vs. RAYS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Wind Energy UCITS ETF USD Accumulating (WNDG.L) and Invesco Solar Energy UCITS ETF Acc (RAYS.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.
| WNDG.L | RAYS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.47 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.94 | 9.02 | -4.08 |
| Martin ratioReturn relative to average drawdown | 16.13 | 21.84 | -5.70 |
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
| WNDG.L | RAYS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 3.27 | -1.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.17 | -0.11 | -0.06 |
Drawdowns
WNDG.L vs. RAYS.L - Drawdown Comparison
The maximum WNDG.L drawdown since its inception was -52.03%, smaller than the maximum RAYS.L drawdown of -73.42%. Use the drawdown chart below to compare losses from any high point for WNDG.L and RAYS.L.
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Drawdown Indicators
| WNDG.L | RAYS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.03% | -73.42% | +21.39% |
Max Drawdown (1Y)Largest decline over 1 year | -8.76% | -11.90% | +3.14% |
Max Drawdown (3Y)Largest decline over 3 years | -39.56% | -64.74% | +25.18% |
Current DrawdownCurrent decline from peak | -21.30% | -32.84% | +11.54% |
Average DrawdownAverage peak-to-trough decline | -28.82% | -41.69% | +12.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 4.93% | -2.24% |
Volatility
WNDG.L vs. RAYS.L - Volatility Comparison
The current volatility for Global X Wind Energy UCITS ETF USD Accumulating (WNDG.L) is 4.77%, while Invesco Solar Energy UCITS ETF Acc (RAYS.L) has a volatility of 12.48%. This indicates that WNDG.L experiences smaller price fluctuations and is considered to be less risky than RAYS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WNDG.L | RAYS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 12.48% | -7.71% |
Volatility (6M)Calculated over the trailing 6-month period | 13.61% | 21.95% | -8.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.43% | 32.89% | -13.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.70% | 36.87% | -16.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.70% | 36.87% | -16.17% |
WNDG.L vs. RAYS.L - Expense Ratio Comparison
WNDG.L has a 0.50% expense ratio, which is lower than RAYS.L's 0.69% expense ratio.
Dividends
WNDG.L vs. RAYS.L - Dividend Comparison
Neither WNDG.L nor RAYS.L has paid dividends to shareholders.
Frequently Asked Questions
WNDG.L and RAYS.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WNDG.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WNDG.L is cheaper with a 0.50% expense ratio, compared with 0.69% for RAYS.L.
Both ETFs track S&P Global Clean Energy TR USD. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for WNDG.L and 0.69% for RAYS.L.
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