Data as of Nov 4, 2026.
ACES vs PBW: Holdings Overlap & Returns
Over the year to Nov 4, 2026, ACES returned −16.6% to PBW's −13.3%; 32% 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 $296m on Nov 3, 2026 for Invesco WilderHill Clean Energy ETF.
17% of ACES's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Aug 31, 2026.
8% of PBW's weight is in S&P 500 companies and 92% is outside the index. Holdings as of Nov 3, 2026.
Pair scorecard
ACES costs 0.08 points a year less; their one-year returns differ by 3.3 points.
Points (pts) are percentage points.
| Measure | ACES | PBW |
|---|---|---|
| Return | ||
| Total return, 1 year | −16.6% | −13.3% |
| Drawdown | ||
| Below its all-time high | 70.7%, high on Feb 9, 2021 | 77.8%, high on Feb 9, 2021 |
| Against its benchmark | ||
| What it tracks | Clean energy | Clean energy |
| Its benchmark, total return, 1 year | +14.8% | |
| Against its benchmark, 1 year | behind by 28.1 pts | |
| Cost and size | ||
| Expense ratio | 0.55% | 0.63% |
| Net assets, ACES as of Aug 31, 2026 and PBW as of Nov 3, 2026 | $109m | $296m |
| Holdings | ||
| Holdings in common | 32% | |
Risk and return
Jul 6, 2018 to Oct 30, 2026 · 434 weekly returnsFrom Jul 2018 to Oct 2026, PBW returned more: +16.7% to +9.9%. ACES swung less: 35.2% to 41.8%. ACES fell less at its worst: −77.3% to −88.0%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACES | PBW | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +9.9% | +16.7% | PBW | Price change plus distributions, reinvested. |
| Annualized | +1.1% | +1.9% | PBW | Total return as a yearly rate. |
| Price return | +1.0% | −1.3% | ACES | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 35.2% | 41.8% | ACES | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 24.5% | 28.9% | ACES | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −77.3% | −88.0% | ACES | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.13 | 0.19 | PBW | Return above Treasury bills per unit of volatility. |
| Sortino | 0.19 | 0.27 | PBW | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.01 | 0.02 | PBW (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 434 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ACES and PBW hold 32% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.
half
32% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | ACES | PBW | ACES | PBW |
| 3 months | −10.8% | −20.4% | not measured | −20.1 pts vs IWV |
| 6 months | −22.6% | −32.9% | not measured | −37.8 pts vs IWV |
| 1 year | −16.6% | −13.3% | not measured | −28.1 pts vs IWV |
| 3 years | −10.6% | +4.1% | not measured | −76.9 pts vs IWV |
| Since launchNot the same days: ACES Jun 2018 · PBW Mar 2005 | +20.8% | −52.4% | not measured | not measured |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
32% of the two portfolios are the same securities at the same weight.
Client brief:
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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.
Over the year to Nov 4, 2026 the fund returned −13.3% with distributions reinvested against +14.8% for its benchmark, the Russell 3000 Index, so a holder was behind by 28.1 pts.
By weight, 8% of PBW'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 20% of the fund across 73 positions, as published by its issuer for Nov 3, 2026. It sits 77.8% below its all-time high of Feb 9, 2021.
Questions people ask
- Do ACES and PBW hold the same stocks?
- By their latest filings, 32% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
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 PBW, data as of Nov 4, 2026. https://etfiq.com/compare/themes/aces-vs-pbw
ETFIQ. (Nov 4, 2026). ACES against PBW. Retrieved from https://etfiq.com/compare/themes/aces-vs-pbw
[ACES against PBW (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/aces-vs-pbw)
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