Do FAN and PBD hold the same stocks?

By their latest filings, 10% 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, FAN or PBD?

FAN has 7% of its weight in S&P 500 names and PBD has 2%, so PBD differs more from the index.

Which is cheaper, FAN or PBD?

FAN charges 0.60% a year and PBD charges 0.75%, so FAN is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

FAN vs PBD: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, FAN returned +15.1% to PBD's −2.1%; 10% of their weight is in the same names.

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Net assets on Nov 3, 2026: $190m for First Trust Global Wind Energy ETF and $99m for Invesco Global Clean Energy ETF.

FAN on its own →PBD on its own →

At a glance

6.7%

FAN in the S&P 500

1.9%

PBD in the S&P 500

+15.1%

FAN total return, 1 year

−2.1%

PBD total return, 1 year

FAN · 1 year to Nov 4, 2026 93% of its weight is outside the S&P 500

7% of FAN's weight is in S&P 500 companies and 93% is outside the index. Holdings as of Nov 3, 2026.

PBD · 1 year to Nov 4, 2026 98% of its weight is outside the S&P 500

2% of PBD's weight is in S&P 500 companies and 98% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

FAN costs 0.15 points a year less; their one-year returns differ by 17.2 points; FAN is 1.9 times larger.

Points (pts) are percentage points.

FAN vs PBD: Holdings Overlap & Returns
Measure	FAN	PBD
Return
Measure	FAN	PBD
Total return, 1 year	+15.1%	−2.1%
Drawdown
Measure	FAN	PBD
Below its all-time high	14.9%, high on May 6, 2026	56.6%, high on Jan 22, 2021
Against its benchmark
Measure	FAN	PBD
What it tracks	Clean energy	Clean energy
Its benchmark, total return, 1 year	+14.8%	+16.9%
Against its benchmark, 1 year		behind by 19.0 pts
Cost and size
Measure	FAN	PBD
Expense ratio	0.60%	0.75%
Net assets, as of Nov 3, 2026	$190m	$99m
Holdings
Measure	FAN	PBD
Holdings in common	10%

Method

Risk and return

Jul 3, 2008 to Oct 30, 2026 · 956 weekly returns

FAN PBD

Return

Total return edge FAN +10.1% −23.5%

Annualized edge FAN +0.5% −1.4%

Price return edge FAN −22.1% −42.0%

Risk

Volatility edge FAN 25.0% 29.6%

Max drawdown edge PBD (slight) −78.1% −73.8%

Downside capture 103.6% 114.0%

Beta 1.02 1.23

Risk-adjusted

Sharpe edge FAN 0.09 0.05

Sortino edge FAN 0.12 0.07

Treynor 0.022 0.013

Calmar edge FAN 0.01 −0.02

Against the benchmark

Alpha −9.5% a year −4.2% a year

Alpha t-stat −2.46 −1.07

Information ratio −0.56 −0.17

Tracking error 16.5% 18.0%

Each against its own benchmark: FAN against IWV, Jul 3, 2008 to Oct 30, 2026; PBD against EFA, Jun 22, 2007 to Oct 30, 2026.

Reading

From Jul 2008 to Oct 2026, FAN returned more: +10.1% to −23.5%. FAN swung less: 25.0% to 29.6%. PBD fell slightly less at its worst: −73.8% to −78.1%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: FAN vs PBD: Holdings Overlap & Returns
Measure	FAN	PBD	Edge	How it is measured
Return
Total return	+10.1%	−23.5%	FAN	Price change plus distributions, reinvested.
Annualized	+0.5%	−1.4%	FAN	Total return as a yearly rate.
Price return	−22.1%	−42.0%	FAN	Price change alone, distributions left out.
Risk
Volatility	25.0%	29.6%	FAN	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	18.5%	21.7%	FAN	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−78.1%	−73.8%	PBD (slight)	Deepest fall from a high to the low after it.
Upside capture	77.2%	126.1%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	103.6%	114.0%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.02	1.23	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.56	0.66	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.09	0.05	FAN	Return above Treasury bills per unit of volatility.
Sortino	0.12	0.07	FAN	Return above Treasury bills per unit of downside deviation.
Treynor	0.022	0.013		Return above Treasury bills per unit of beta.
Calmar	0.01	−0.02	FAN	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	IWV	EFA		The ETF each fund is measured against.
Alpha	−9.5% a year	−4.2% a year	PBD not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−2.46	−1.07	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−17.1% to −1.9%	−12.0% to +3.5%	PBD includes zero	The 95% range for the yearly alpha.
Information ratio	−0.56	−0.17		Return against its benchmark per unit of tracking error.
Tracking error	16.5%	18.0%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 956 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

10%

By the books each fund has filed, FAN and PBD hold 10% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

10% in common

Positions both hold · largest shared weight first FAN PBD

Acciona, S.A. 2.09% 1.05%

Nordex SE 8.61% 1.04%

CS Wind Corp. 2.99% 1.03%

Orsted A/S 8.33% 1.02%

ERG SpA 4.08% 1.01%

Vestas Wind Systems A/S 7.70% 1.01%

EDP Renewables SA 7.96% 1.01%

Prysmian SpA 1.94% 0.92%

China Datang Corp Renewable Power Co., Ltd. (Class H) 0.85% 0.89%

Enlight Renewable Energy Ltd. 1.81% 0.83%

Energix-Renewable Energies Ltd. 0.53% 0.87%

Only in one fund ↓

Only in FAN

China Longyuan Power Group Corporation Limited (Class H) 6.14%

Cadeler A/S 4.34%

Goldwind Science & Technology Co., Ltd. (Class H) 2.74%

Alliant Energy Corporation 2.29%

Iberdrola S.A. 2.29%

NextEra Energy, Inc. 2.22%

GE Vernova Inc. 2.21%

AB SKF (Class B) 2.10%

Only in PBD

SES AI Corp 1.38%

Verbund AG 1.30%

Lotte Energy Materials Corp 1.29%

Landis+Gyr Group AG 1.27%

Nibe Industrier AB 1.26%

EVgo Inc 1.21%

NFI Group Inc 1.15%

SolarEdge Technologies Inc 1.10%

Check overlap with more funds →

Window by window

Window by window: FAN vs PBD: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	FAN	PBD	FAN	PBD
3 months	−1.5%	−12.4%	−1.2 pts vs IWV	−10.8 pts vs EFA
6 months	−14.9%	−27.2%	−19.8 pts vs IWV	−29.7 pts vs EFA
1 year	+15.1%	−2.1%	+0.3 pts vs IWV	−19.0 pts vs EFA
3 years	+66.8%	+17.1%	−14.2 pts vs IWV	−49.7 pts vs EFA
Since launchNot the same days: FAN Jun 2008 · PBD Jun 2007	+12.2%	−17.6%	not measured	not measured

Open this comparison in the app →

Side by side

FAN First Trust Global Wind Energy ETF · Holds 45 stocks in clean energy, 7% of its weight in S&P 500 companies PBD Invesco Global Clean Energy ETF · Holds 111 stocks in clean energy, 2% of its weight in S&P 500 companies

Issuer First Trust Invesco

Theme Clean energy Clean energy

In the S&P 500 6.7% 1.9%

Active share vs the S&P 500 99.2% 99.9%

In the Nasdaq-100 0.0% 0.0%

Holdings 45 111

Top ten, share of the fund 55.2% 12.2%

Expense ratio 0.60% 0.75%

Fee for the differing part 0.60% 0.75%

Total return, 1 year +15.1% −2.1%

vs its benchmark +0.3 pts vs IWV −19.0 pts vs EFA

Below its high −14.9% −56.6%

Net assets, as of Nov 3, 2026 $190m $99m

As of Nov 4, 2026. Source: ETFIQ.

10% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

FAN

Over the year to Nov 4, 2026 the fund returned +15.1% with distributions reinvested against +14.8% for its benchmark, the Russell 3000 Index, so a holder was about even.

By weight, 7% of FAN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 55% of the fund across 45 positions, as published by its issuer for Nov 3, 2026. It sits 14.9% below its all-time high of May 6, 2026.

PBD

By weight, 2% of PBD'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 12% of the fund across 111 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −2.1% with distributions reinvested against +16.9% for its benchmark, the MSCI EAFE Index, so a holder was behind by 19.0 pts. It sits 56.6% below its all-time high of Jan 22, 2021.

Questions people ask

Do FAN and PBD hold the same stocks?: By their latest filings, 10% 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, FAN or PBD?: FAN has 7% of its weight in S&P 500 names and PBD has 2%, so PBD differs more from the index.
Which is cheaper, FAN or PBD?: FAN charges 0.60% a year and PBD charges 0.75%, so FAN is cheaper. Fees come from each fund's prospectus.

Other comparisons

FAN vs KGRN FAN vs FRNW FAN vs ACES FAN vs HYDR PBD vs PBW PBD vs QCLN PBD vs TAN PBD vs SMOG

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →FAN on its own →PBD on its own →FAN dividend history →FAN holdings →PBD dividend history →PBD holdings →Method →Standards and sources →

Sources and dates

FAN filings on SEC EDGAR ↗

FAN prospectus with the expense ratio (SEC) ↗

First Trust page for FAN ↗

PBD filings on SEC EDGAR ↗

PBD prospectus with the expense ratio (SEC) ↗

Invesco page for PBD ↗

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, FAN against PBD, data as of Nov 4, 2026. https://etfiq.com/compare/themes/fan-vs-pbd

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