Data as of .
ACES vs PBW: which is really different?
ACES and PBW hold 28% of their weight in the same names, and PBW returned more over the year.
ETFIQ Off-Index Score: ACES scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
28% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, ACES and PBW hold 28% of their money in the same securities at the same weight.
| Holding | ACES | PBW |
|---|---|---|
| Itron Inc | 3.48% | 2.10% |
| Rivian Automotive Inc | 4.08% | 1.89% |
| Tesla Inc | 4.24% | 1.74% |
| Ormat Technologies Inc | 4.84% | 1.54% |
| First Solar Inc | 6.25% | 1.52% |
| Rex American Resources Corp | 1.47% | 1.91% |
| Plug Power Inc | 6.04% | 1.46% |
| Albemarle Corp | 4.17% | 1.38% |
| Shoals Technologies Group Inc | 2.26% | 1.32% |
| Enphase Energy Inc | 6.53% | 1.29% |
| Nextpower Inc | 5.93% | 1.27% |
| Ameresco Inc | 1.26% | 1.56% |
| Only in ACES | Only in PBW |
|---|---|
| Brookfield Renewable Partners Lp 4.68% | Beta Technologies Inc 2.59% |
| Ha Sustainable Infrastructure Capital In 4.40% | Darling Ingredients Inc 2.39% |
| Northland Power Inc 4.20% | Cadeler A/S 2.29% |
| Clearway Energy Inc 3.79% | OPAL Fuels Inc 2.04% |
| Boralex Inc 3.00% | Gentherm Inc 2.01% |
| Andersons Inc/the 2.48% | Preformed Line Products Co 1.95% |
| Willdan Group Inc 1.43% | Archer Aviation Inc 1.89% |
| Xplr Infrastructure Lp 1.28% | Lifezone Metals Ltd 1.77% |
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 dated May 31, 2026 and Sep 19, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ACES | PBW | ACES | PBW | ACES | PBW | |
| 3 months | −21.4% | −25.8% | −23.6 pts | −28.1 pts | −18.9 pts | −23.4 pts |
| 6 months | −10.0% | −0.1% | −28.0 pts | −18.1 pts | −34.2 pts | −24.3 pts |
| 1 year | −5.9% | +11.1% | −22.4 pts | −5.5 pts | −27.6 pts | −10.7 pts |
| 3 years | −25.4% | −4.3% | −103.8 pts | −82.7 pts | −123.6 pts | −102.5 pts |
| Since launch | +25.2% | −25.2% | −192.9 pts | −828.8 pts | −317.7 pts | −1715.5 pts |
| ACES ALPS Clean Energy ETF Holds 37 stocks in clean energy, 15% of its weight in S&P 500 companies | PBW Invesco WilderHill Clean Energy ETF Holds 74 stocks in clean energy, 8% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | ALPS | Invesco |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 14.7% | 7.7% |
| Active share vs the S&P 500 | 98.1% | 97.9% |
| In the Nasdaq-100 | 4.2% | 3.2% |
| Holdings | 37 | 74 |
| Top ten, share of the fund | 51.3% | 21.3% |
| Expense ratio | 0.55% | 0.63% |
| Fee for the differing part | 0.56% | 0.64% |
| Total return, 1 year | −5.9% | +11.1% |
| vs the S&P 500 | −22.4 pts | −5.5 pts |
| vs the Nasdaq-100 | −27.6 pts | −10.7 pts |
| Below its high | −69.6% | −74.5% |
| Net assets | $145m | $363m |
ACES in plain words
By weight, 15% 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 51% of the fund across 37 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned −5.9% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 22.4 pts. It sits 69.6% below its all-time high of Feb 9, 2021.
PBW in plain words
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 21% of the fund across 74 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned +11.1% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 5.5 pts. It sits 74.5% below its all-time high of Feb 9, 2021.
Questions people ask
- Do ACES and PBW hold the same stocks?
- By their latest filings, 28% 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, ACES or PBW?
- ACES has 15% of its weight in S&P 500 names and PBW has 8%, so ACES differs more from the index.
- Which is cheaper, ACES or PBW?
- ACES charges 0.55% a year and PBW charges 0.63%, so ACES 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, ACES against PBW, data as of Sep 18, 2026. https://etfiq.com/compare/themes/aces-vs-pbw Free to use with attribution; the underlying files are at Open data.