Do FRNW and PBD hold the same stocks?

By their latest filings, 27% 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, FRNW or PBD?

FRNW has 10% of its weight in S&P 500 names and PBD has 2%, so PBD differs more from the index.

Which is cheaper, FRNW or PBD?

FRNW charges 0.39% a year and PBD charges 0.75%, so FRNW is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

FRNW vs PBD: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, FRNW returned +3.1% to PBD's −2.1%; 27% of their weight is in the same names.

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Net assets: $91m on Sep 30, 2026 for Fidelity Clean Energy ETF, and $99m on Nov 3, 2026 for Invesco Global Clean Energy ETF.

FRNW on its own →PBD on its own →

At a glance

9.7%

FRNW in the S&P 500

1.9%

PBD in the S&P 500

+3.1%

FRNW total return, 1 year

−2.1%

PBD total return, 1 year

FRNW · 1 year to Nov 4, 2026 90% of its weight is outside the S&P 500

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

FRNW costs 0.36 points a year less; their one-year returns differ by 5.2 points.

Points (pts) are percentage points.

FRNW vs PBD: Holdings Overlap & Returns
Measure	FRNW	PBD
Return
Measure	FRNW	PBD
Total return, 1 year	+3.1%	−2.1%
Drawdown
Measure	FRNW	PBD
Below its all-time high	22.8%, high on Nov 1, 2021	56.6%, high on Jan 22, 2021
Against its benchmark
Measure	FRNW	PBD
What it tracks	Clean energy	Clean energy
Its benchmark, total return, 1 year		+16.9%
Against its benchmark, 1 year		behind by 19.0 pts
Cost and size
Measure	FRNW	PBD
Expense ratio	0.39%	0.75%
Net assets, FRNW as of Sep 30, 2026 and PBD as of Nov 3, 2026	$91m	$99m
Holdings
Measure	FRNW	PBD
Holdings in common	27%

Method

What they share

27%

By the books each fund has filed, FRNW and PBD hold 27% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

27% in common

Positions both hold · largest shared weight first FRNW PBD

VERBUND AG 2.32% 1.30%

LANDIS+GYR GROUP AG 1.32% 1.27%

SOLAREDGE TECHNOLOGIES INC 1.81% 1.10%

SHOALS TECHNOLOGIES GROUP INC 1.35% 1.09%

ACCIONA SA 2.96% 1.05%

MERCURY NZ LTD 1.84% 1.05%

ITRON INC 2.27% 1.05%

NORDEX SE 2.81% 1.04%

CS WIND CORP 1.09% 1.03%

ERG SPA 1.50% 1.01%

BLOOM ENERGY CORP 4.51% 1.01%

EDP RENEWABLES SA 1.95% 1.01%

Only in one fund ↓

Only in FRNW

GE VERNOVA INC 5.99%

VESTAS WIND SYSTEMS AS 4.73%

EDP S.A. 3.72%

NEXTPOWER INC 3.31%

ORSTED A/S 2.92%

BROOKFIELD RENEWABLE CORP 2.31%

VINCI SA 2.22%

MERIDIAN ENERGY LTD 2.17%

Only in PBD

SES AI Corp 1.38%

Lotte Energy Materials Corp 1.29%

Nibe Industrier AB 1.26%

EVgo Inc 1.21%

NFI Group Inc 1.15%

Samsung SDI Co Ltd 1.10%

Universal Display Corp 1.09%

Tamura Corp 1.09%

Check overlap with more funds →

Window by window

Window by window: FRNW vs PBD: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	FRNW	PBD	FRNW	PBD
3 months	−4.5%	−12.4%	not measured	−10.8 pts vs EFA
6 months	−16.2%	−27.2%	not measured	−29.7 pts vs EFA
1 year	+3.1%	−2.1%	not measured	−19.0 pts vs EFA
3 years	+49.5%	+17.1%	not measured	−49.7 pts vs EFA
Since launchNot the same days: FRNW Oct 2021 · PBD Jun 2007	−10.7%	−17.6%	not measured	not measured

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Side by side

FRNW Fidelity Clean Energy ETF · Holds 50 stocks in clean energy, 10% 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 Fidelity Invesco

Theme Clean energy Clean energy

In the S&P 500 9.7% 1.9%

Active share vs the S&P 500 99.5% 99.9%

In the Nasdaq-100 0.0% 0.0%

Holdings 50 111

Top ten, share of the fund 37.8% 12.2%

Expense ratio 0.39% 0.75%

Fee for the differing part 0.39% 0.75%

Total return, 1 year +3.1% −2.1%

vs its benchmark not measured −19.0 pts vs EFA

Below its high −22.8% −56.6%

Net assets, FRNW as of Sep 30, 2026 and PBD as of Nov 3, 2026 $91m $99m

As of Nov 4, 2026. Source: ETFIQ.

27% of the two portfolios are the same securities at the same weight.

Alert

About each fund

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.

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 FRNW and PBD hold the same stocks?: By their latest filings, 27% 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, FRNW or PBD?: FRNW has 10% of its weight in S&P 500 names and PBD has 2%, so PBD differs more from the index.
Which is cheaper, FRNW or PBD?: FRNW charges 0.39% a year and PBD charges 0.75%, so FRNW is cheaper. Fees come from each fund's prospectus.

Other comparisons

FRNW vs KGRN FRNW vs ACES FRNW vs SMOG FRNW vs PBW PBD vs PBW PBD vs RNRG PBD vs QCLN PBD vs TAN

Where to next

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

Sources and dates

FRNW filings on SEC EDGAR ↗

FRNW prospectus with the expense ratio (SEC) ↗

Fidelity website ↗

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

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