ZAP vs. ELFY

Last updated Jun 23, 2026

ZAP (Global X U.S. Electrification ETF) and ELFY (ALPS Electrification Infrastructure ETF) are both Utilities Equities funds - ZAP tracks the Global X U.S. Electrification Index while ELFY tracks the Ladenburg Thalmann Electrification Infrastructure Index. Both are passively managed. Over the past year, ZAP returned 35.04% vs 49.08% for ELFY. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

ZAP vs. ELFY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X U.S. Electrification ETF (ZAP) and ALPS Electrification Infrastructure ETF (ELFY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZAP achieves a 20.08% return, which is significantly lower than ELFY's 29.93% return.

ZAP

• 1D: 1.43%
• 1M: 1.55%
• YTD: 20.08%
• 6M: 19.91%
• 1Y: 35.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ELFY

• 1D: 1.59%
• 1M: 3.01%
• YTD: 29.93%
• 6M: 28.68%
• 1Y: 49.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZAP vs. ELFY - Yearly Performance Comparison

	2026 (YTD)	2025
ZAP Global X U.S. Electrification ETF	20.08%	24.16%
ELFY ALPS Electrification Infrastructure ETF	29.93%	34.72%

Correlation

The correlation between ZAP and ELFY is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 10, 2025	0.82

The correlation between ZAP and ELFY has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

ZAP vs. ELFY — Risk / Return Rank

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

ZAP

ZAP Risk / Return Rank: 73
ZAP Sharpe Ratio Rank: 74
ZAP Sortino Ratio Rank: 70
ZAP Omega Ratio Rank: 66
ZAP Calmar Ratio Rank: 88
ZAP Martin Ratio Rank: 67

ELFY

ELFY Risk / Return Rank: 82
ELFY Sharpe Ratio Rank: 82
ELFY Sortino Ratio Rank: 76
ELFY Omega Ratio Rank: 74
ELFY Calmar Ratio Rank: 92
ELFY Martin Ratio Rank: 87

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.

ZAP vs. ELFY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Electrification ETF (ZAP) and ALPS Electrification Infrastructure ETF (ELFY). 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.

	ZAP	ELFY	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.51	-0.23
Sortino ratio: Return per unit of downside risk	3.05	3.26	-0.21
Omega ratio: Gain probability vs. loss probability	1.38	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	4.87	5.89	-1.02
Martin ratio: Return relative to average drawdown	11.92	17.80	-5.88

ZAP vs. ELFY - Sharpe Ratio Comparison

The current ZAP Sharpe Ratio is 2.28, which is comparable to the ELFY Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of ZAP and ELFY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZAP vs. ELFY - Drawdown Comparison

The maximum ZAP drawdown since its inception was -12.38%, which is greater than ELFY's maximum drawdown of -8.37%. Use the drawdown chart below to compare losses from any high point for ZAP and ELFY.

Drawdown Indicators

	ZAP	ELFY	Difference
Max Drawdown Largest peak-to-trough decline	-12.38%	-8.37%	-4.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-8.37%	+1.14%
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-2.60%	-1.67%	-0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	2.77%	+0.18%

Volatility

ZAP vs. ELFY - Volatility Comparison

The current volatility for Global X U.S. Electrification ETF (ZAP) is 6.08%, while ALPS Electrification Infrastructure ETF (ELFY) has a volatility of 8.18%. This indicates that ZAP experiences smaller price fluctuations and is considered to be less risky than ELFY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZAP	ELFY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.08%	8.18%	-2.10%
Volatility (6M) Calculated over the trailing 6-month period	12.06%	15.75%	-3.69%
Volatility (1Y) Calculated over the trailing 1-year period	15.47%	19.65%	-4.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	19.57%	-2.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	19.57%	-2.65%

ZAP vs. ELFY - Expense Ratio Comparison

Both ZAP and ELFY have an expense ratio of 0.50%.

Dividends

ZAP vs. ELFY - Dividend Comparison

ZAP's dividend yield for the trailing twelve months is around 1.49%, more than ELFY's 0.94% yield.

Position	TTM	2025	2024
ELFY ALPS Electrification Infrastructure ETF	0.94%	0.76%	0.00%
ZAP Global X U.S. Electrification ETF	1.49%	1.81%	0.00%

Frequently Asked Questions

Can I hold both ZAP and ELFY in my portfolio?

ZAP and ELFY have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZAP or ELFY?

ELFY has higher volatility (8.18%) compared to ZAP (6.08%). In terms of maximum drawdown, ZAP dropped -12.38% vs ELFY's -8.37%.

Which ETF is better, ZAP or ELFY?

On 1-year performance, ELFY leads with 49.08% vs 35.04% for ZAP. Both ETFs have the same 0.50% expense ratio. On volatility, ZAP has been the lower-risk option at 6.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZAP or ELFY?

Over the 1-year period, ELFY has performed better with a 49.08% return vs 35.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZAP or ELFY?

ZAP and ELFY have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, ZAP or ELFY?

ZAP has the higher dividend yield at 1.49%, compared with 0.94% for ELFY.

What is the main difference between ZAP and ELFY?

ZAP tracks Global X U.S. Electrification Index, while ELFY tracks Ladenburg Thalmann Electrification Infrastructure Index. They also come from different issuers: Global X and ALPS.

Which has better risk-adjusted returns?

ELFY currently has the higher Sharpe Ratio (2.51 vs 2.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.