Data as of Nov 4, 2026.
FAN vs TAN: Holdings Overlap & Returns
Over the year to Nov 4, 2026, FAN returned +15.1% to TAN's −4.5%; 4% 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 $937m for Invesco Solar ETF.
7% of FAN's weight is in S&P 500 companies and 93% is outside the index. Holdings as of Nov 3, 2026.
10% of TAN's weight is in S&P 500 companies and 90% is outside the index. Holdings as of Nov 3, 2026.
Pair scorecard
FAN costs 0.10 points a year less; their one-year returns differ by 19.6 points; TAN is 4.9 times larger.
Points (pts) are percentage points.
| Measure | FAN | TAN |
|---|---|---|
| Return | ||
| Total return, 1 year | +15.1% | −4.5% |
| Drawdown | ||
| Below its all-time high | 14.9%, high on May 6, 2026 | 79.0%, high on May 16, 2008 |
| Against its benchmark | ||
| What it tracks | Clean energy | Clean energy |
| Its benchmark, total return, 1 year | +14.8% | +15.0% |
| Against its benchmark, 1 year | behind by 19.5 pts | |
| Cost and size | ||
| Expense ratio | 0.60% | 0.70% |
| Net assets, as of Nov 3, 2026 | $190m | $937m |
| Holdings | ||
| Holdings in common | 4% | |
Risk and return
Jul 3, 2008 to Oct 30, 2026 · 956 weekly returnsEach against its own benchmark: FAN against IWV, Jul 3, 2008 to Oct 30, 2026; TAN against ACWI, Apr 25, 2008 to Oct 30, 2026.
From Jul 2008 to Oct 2026, FAN returned more: +10.1% to −76.1%. FAN swung less: 25.0% to 44.6%. FAN fell less at its worst: −78.1% to −94.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FAN | TAN | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +10.1% | −76.1% | FAN | Price change plus distributions, reinvested. |
| Annualized | +0.5% | −7.5% | FAN | Total return as a yearly rate. |
| Price return | −22.1% | −82.4% | FAN | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 25.0% | 44.6% | FAN | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 18.5% | 31.2% | FAN | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −78.1% | −94.7% | FAN | Deepest fall from a high to the low after it. |
| Upside capture | 77.2% | 160.4% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 103.6% | 131.7% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.02 | 1.63 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.56 | 0.45 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.09 | 0.02 | FAN | Return above Treasury bills per unit of volatility. |
| Sortino | 0.12 | 0.02 | FAN | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.022 | 0.000 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.01 | −0.08 | FAN | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IWV | ACWI | The ETF each fund is measured against. | |
| Alpha | −9.5% a year | −13.0% a year | TAN not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −2.46 | −1.69 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −17.1% to −1.9% | −28.0% to +2.0% | TAN includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.56 | −0.23 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 16.5% | 34.9% | 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
By the books each fund has filed, FAN and TAN hold 4% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
4% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | FAN | TAN | FAN | TAN |
| 3 months | −1.5% | −10.7% | −1.2 pts vs IWV | −9.4 pts vs ACWI |
| 6 months | −14.9% | −24.3% | −19.8 pts vs IWV | −26.9 pts vs ACWI |
| 1 year | +15.1% | −4.5% | +0.3 pts vs IWV | −19.5 pts vs ACWI |
| 3 years | +66.8% | +3.0% | −14.2 pts vs IWV | −74.6 pts vs ACWI |
| Since launchNot the same days: FAN Jun 2008 · TAN Apr 2008 | +12.2% | −76.1% | not measured | not measured |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
4% of the two portfolios are the same securities at the same weight.
Client brief:
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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.
TAN
By weight, 10% 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 63% of the fund across 37 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −4.5% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was behind by 19.5 pts. It sits 79.0% below its all-time high of May 16, 2008.
Questions people ask
- Do FAN and TAN hold the same stocks?
- By their latest filings, 4% 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.
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ETFIQ, FAN against TAN, data as of Nov 4, 2026. https://etfiq.com/compare/themes/fan-vs-tan
ETFIQ. (Nov 4, 2026). FAN against TAN. Retrieved from https://etfiq.com/compare/themes/fan-vs-tan
[FAN against TAN (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/fan-vs-tan)
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