Data as of . Every figure is the themes desk's own, on published data.
ICLN vs TAN
29% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, ICLN and TAN hold 29% of their money in the same securities at the same weight.
| Holding | ICLN | TAN |
|---|---|---|
| NEXTPOWER INC. | 7.31% | 9.81% |
| FIRST SOLAR, INC. | 7.18% | 11.74% |
| ENPHASE ENERGY, INC. | 3.26% | 8.75% |
| SOLAREDGE TECHNOLOGIES, INC. | 1.93% | 6.32% |
| CLEARWAY ENERGY, INC. | 1.89% | 2.51% |
| Shoals Technologies Group Inc | 1.00% | 3.38% |
| ARRAY TECHNOLOGIES, INC. | 0.67% | 2.42% |
| JinkoSolar Holding Co., Ltd. | 0.54% | 1.29% |
| CANADIAN SOLAR INC. | 0.53% | 1.45% |
| DORAL GROUP RENEWABLE ENERGY RESOURCES L | 0.46% | 5.09% |
| RENEW ENERGY GLOBAL PLC | 0.37% | 1.02% |
| MOTECH INDUSTRIES INC | 0.26% | 0.91% |
| Only in ICLN | Only in TAN |
|---|---|
| BLOOM ENERGY CORPORATION 13.79% | Enlight Renewable Energy Ltd. 7.58% |
| China Yangtze Power Co., Ltd. 5.92% | Sunrun Inc. 4.83% |
| VESTAS WIND SYSTEMS A/S 3.38% | O.Y. Nofar Energy Ltd. 4.21% |
| PLUG POWER INC. 3.29% | HA Sustainable Infrastructure Capital, I 3.46% |
| EQUATORIAL S.A. 2.90% | Solaria Energia y Medio Ambiente, S.A. 3.07% |
| SUZLON ENERGY LIMITED 2.39% | GCL-Poly Energy Holdings Ltd. 3.00% |
| EDP, S.A. 2.35% | Energix Renewable Energies Ltd. 2.69% |
| Chubu Electric Power Company, Incorporat 2.02% | Grenergy Renovables S.A. 2.25% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings as filed for Apr 30, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ICLN | TAN | ICLN | TAN | ICLN | TAN | |
| 3 months | −16.4% | −25.0% | −21.1 pts | −29.7 pts | −18.5 pts | −27.1 pts |
| 6 months | +2.2% | −9.8% | −12.9 pts | −25.0 pts | −17.9 pts | −30.0 pts |
| 1 year | +25.3% | +14.3% | +5.3 pts | −5.6 pts | −0.3 pts | −11.3 pts |
| 3 years | +17.5% | −16.7% | −60.4 pts | −94.7 pts | −75.9 pts | −110.2 pts |
| Since launch | +10.6% | −38.6% | −800.8 pts | −850.0 pts | −1673.5 pts | −1722.7 pts |
| ICLN iShares Global Clean Energy ETF | TAN Invesco Solar ETF | |
|---|---|---|
| Issuer | iShares | Invesco |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 7.2% | 11.7% |
| Active share vs the S&P 500 | 100.0% | 100.0% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 122 | 31 |
| Top ten, share of the fund | 51.8% | 65.2% |
| Expense ratio | 0.38% | 0.70% |
| Fee for the differing part | 0.38% | 0.70% |
| Total return, 1 year | +25.3% | +14.3% |
| vs the S&P 500 | +5.3 pts | −5.6 pts |
| vs the Nasdaq-100 | −0.3 pts | −11.3 pts |
| Below its high | −42.8% | −60.4% |
ICLN in plain words
By weight, 7% of ICLN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 52% of the fund across 122 positions, as filed for Apr 30, 2026. Over the year to Sep 4, 2026 the fund returned +25.3% with distributions reinvested against +20.0% for the S&P 500, so a holder was ahead by 5.3 pts. It sits 42.8% below its all-time high of Jan 7, 2021.
TAN in plain words
By weight, 12% of TAN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 65% of the fund across 31 positions, as filed for May 31, 2026. Over the year to Sep 4, 2026 the fund returned +14.3% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 5.6 pts. It sits 60.4% below its all-time high of Feb 9, 2021.
Questions people ask
- Do ICLN and TAN hold the same stocks?
- By their latest filings, 29% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, ICLN or TAN?
- ICLN has 7% of its weight in S&P 500 names and TAN has 12%, so ICLN differs more from the index.
- Which is cheaper, ICLN or TAN?
- ICLN charges 0.38% a year and TAN charges 0.70%, so ICLN is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, ICLN against TAN, data as of Sep 4, 2026. https://etfiq.com/compare/themes/ICLN-TAN.html Free to use with attribution; the underlying files are at Open data.