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Data as of Nov 4, 2026.

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Thematic ETFs

ACES vs FRNW: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, ACES returned −16.6% to FRNW's +3.1%; 26% of their weight is in the same names.

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Net assets: $109m on Aug 31, 2026 for ALPS Clean Energy ETF, and $91m on Sep 30, 2026 for Fidelity Clean Energy ETF.

ACES on its own →FRNW on its own →
At a glance
16.6%
ACES in the S&P 500
9.7%
FRNW in the S&P 500
−16.6%
ACES total return, 1 year
+3.1%
FRNW total return, 1 year
ACES · 1 year to Nov 4, 2026 83% of its weight is outside the S&P 500
83% of its weight is outside the S&P 50017% of ACES's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Aug 31, 2026.17%83%in the S&P 500of its weight outside the S&P 500active share 98% · top ten 57% of the fund · 36 holdings as filed for Aug 31, 2026 · Nasdaq-100: 6% in83% of its weight is outside the S&P 50017% of ACES's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Aug 31, 2026.17%83%inof its weight outside the S&P 500active share 98% · Nasdaq-100: 6% in

17% of ACES's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Aug 31, 2026.

FRNW · 1 year to Nov 4, 2026 90% of its weight is outside the S&P 500
90% of its weight is outside the S&P 50010% of FRNW's weight is in S&P 500 companies and 90% is outside the index. Holdings as of Jun 30, 2026.10%90%inof its weight outside the S&P 500active share 100% · top ten 38% of the fund · 50 holdings as filed for Jun 30, 2026 · Nasdaq-100: 0% in90% of its weight is outside the S&P 50010% of FRNW's weight is in S&P 500 companies and 90% is outside the index. Holdings as of Jun 30, 2026.10%90%inof its weight outside the S&P 500active share 100% · Nasdaq-100: 0% in

10% of FRNW's weight is in S&P 500 companies and 90% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

FRNW costs 0.16 points a year less; their one-year returns differ by 19.7 points.

ACES vs FRNW: Holdings Overlap & Returns
MeasureACESFRNW
Return
Total return, 1 year−16.6%+3.1%
Drawdown
Below its all-time high70.7%, high on Feb 9, 202122.8%, high on Nov 1, 2021
Benchmark
What it tracksClean energyClean energy
Cost and size
Expense ratio0.55%0.39%
Net assets, ACES as of Aug 31, 2026 and FRNW as of Sep 30, 2026$109m$91m
Holdings
Holdings in common26%

Method

What they share

26%

By the books each fund has filed, ACES and FRNW hold 26% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.

0 half 100%

half

26% in common

Positions both hold · largest shared weight first ACES FRNW
First Solar Inc 4.74% 3.68%
Nextpower Inc 4.08% 3.31%
Itron Inc 6.08% 2.27%
Ormat Technologies Inc 4.77% 2.23%
Enphase Energy Inc 4.25% 2.12%
Northland Power Inc 5.62% 2.12%
Clearway Energy Inc 5.23% 1.98%
Sunrun Inc 2.85% 1.87%
Plug Power Inc 4.31% 1.49%
Shoals Technologies Group Inc 1.64% 1.35%
T1 Energy Inc 1.30% 1.47%
Ameresco Inc 1.05% 1.12%
Only in one fund ↓
Only in ACES
Ha Sustainable Infrastructure Capital Inc 6.70%
Rivian Automotive Inc 6.43%
Tesla Inc 6.16%
Brookfield Renewable Partners Lp 5.68%
Albemarle Corp 5.68%
Andersons Inc 3.04%
American Superconductor Corp 1.90%
Willdan Group Inc 1.84%
Only in FRNW
GE VERNOVA INC 5.99%
VESTAS WIND SYSTEMS AS 4.73%
BLOOM ENERGY CORP 4.51%
EDP S.A. 3.72%
ENLIGHT RENEWABLE ENERGY LTD 3.15%
ACCIONA SA 2.96%
ORSTED A/S 2.92%
NORDEX SE 2.81%
Check overlap with more funds →

Window by window

Window by window: ACES vs FRNW: Holdings Overlap & Returns
Total return
WindowACESFRNW
3 months−10.8%−4.5%
6 months−22.6%−16.2%
1 year−16.6%+3.1%
3 years−10.6%+49.5%
Since launchNot the same days: ACES Jun 2018 · FRNW Oct 2021+20.8%−10.7%

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Side by side

ACES ALPS Clean Energy ETF · Holds 36 stocks in clean energy, 17% of its weight in S&P 500 companies FRNW Fidelity Clean Energy ETF · Holds 50 stocks in clean energy, 10% of its weight in S&P 500 companies
Issuer ALPS Fidelity
Theme Clean energy Clean energy
In the S&P 500 16.6% 9.7%
Active share vs the S&P 500 98.1% 99.5%
In the Nasdaq-100 6.2% 0.0%
Holdings 36 50
Top ten, share of the fund 57.1% 37.8%
Expense ratio 0.55% 0.39%
Fee for the differing part 0.56% 0.39%
Total return, 1 year −16.6% +3.1%
vs its benchmark not measured not measured
Below its high −70.7% −22.8%
Net assets, ACES as of Aug 31, 2026 and FRNW as of Sep 30, 2026 $109m $91m

As of Nov 4, 2026. Source: ETFIQ.

26% of the two portfolios are the same securities at the same weight.

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About each fund
ACES

By weight, 17% of ACES's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 57% of the fund across 36 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned −16.6% with distributions reinvested. It sits 70.7% below its all-time high of Feb 9, 2021.

FRNW

By weight, 10% of FRNW'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 38% of the fund across 50 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +3.1% with distributions reinvested. It sits 22.8% below its all-time high of Nov 1, 2021.

Questions people ask

Do ACES and FRNW hold the same stocks?
By their latest filings, 26% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, ACES or FRNW?
ACES has 17% of its weight in S&P 500 names and FRNW has 10%, so FRNW differs more from the index.
Which is cheaper, ACES or FRNW?
ACES charges 0.55% a year and FRNW charges 0.39%, so FRNW is cheaper. Fees come from each fund's prospectus.
Other comparisons
ACES vs HYDRACES vs PBDACES vs CCSOACES vs FANFRNW vs PBDFRNW vs SMOGFRNW vs HYDRFRNW vs KGRN
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →ACES on its own →FRNW on its own →ACES dividend history →ACES holdings →FRNW dividend history →FRNW holdings →Method →Standards and sources →
Sources and dates
ACES filings on SEC EDGAR ↗
ACES prospectus with the expense ratio (SEC) ↗
ALPS website ↗
FRNW filings on SEC EDGAR ↗
FRNW prospectus with the expense ratio (SEC) ↗
Fidelity website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, ACES against FRNW, data as of Nov 4, 2026. https://etfiq.com/compare/themes/aces-vs-frnw

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.