Data as of .
FRNW vs SMOG: which is really different?
FRNW and SMOG hold 18% of their weight in the same names, and FRNW returned more over the year.
ETFIQ Off-Index Score: FRNW 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
18% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FRNW and SMOG hold 18% of their money in the same securities at the same weight.
| Holding | FRNW | SMOG |
|---|---|---|
| VESTAS WIND SYSTEMS AS | 4.74% | 4.89% |
| BLOOM ENERGY CORP | 4.53% | 6.10% |
| FIRST SOLAR INC | 3.69% | 2.94% |
| ORSTED A/S | 2.93% | 1.96% |
| NEXTPOWER INC | 3.32% | 1.51% |
| ACCIONA SA | 2.97% | 1.17% |
| NORDEX SE | 2.82% | 1.15% |
| ORMAT TECHNOLOGIES INC | 2.23% | 0.91% |
| MERIDIAN ENERGY LTD | 2.18% | 0.86% |
| NORTHLAND POWER INC | 2.13% | 0.78% |
| BROOKFIELD RENEWABLE CORP | 2.32% | 0.74% |
| ENPHASE ENERGY INC | 2.13% | 0.66% |
| Only in FRNW | Only in SMOG |
|---|---|
| GE VERNOVA INC 6.01% | Iberdrola Sa 8.25% |
| EDP S.A. 3.74% | Tesla Inc 8.17% |
| ENLIGHT RENEWABLE ENERGY LTD 3.16% | Nextera Energy Inc 7.03% |
| ITRON INC 2.28% | Enel Spa 6.57% |
| VINCI SA 2.23% | Byd Co Ltd 5.64% |
| E.ON SE 2.15% | Samsung Sdi Co Ltd 4.22% |
| CLEARWAY ENERGY INC 1.99% | Axia Energia Sa 3.48% |
| EDP RENEWABLES SA 1.96% | Rivian Automotive Inc 2.98% |
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 Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FRNW | SMOG | FRNW | SMOG | FRNW | SMOG | |
| 3 months | −12.0% | −7.7% | −14.3 pts | −9.9 pts | −9.6 pts | −5.2 pts |
| 6 months | −2.2% | +3.1% | −20.2 pts | −14.9 pts | −26.4 pts | −21.1 pts |
| 1 year | +16.4% | +11.5% | −0.2 pts | −5.0 pts | −5.4 pts | −10.2 pts |
| 3 years | +33.7% | +29.0% | −44.7 pts | −49.4 pts | −64.5 pts | −69.2 pts |
| Since launch | −9.4% | +112.2% | −95.1 pts | −691.3 pts | −114.0 pts | −1578.0 pts |
| FRNW Fidelity Clean Energy ETF Holds 50 stocks in clean energy, 10% of its weight in S&P 500 companies | SMOG VanEck Low Carbon Energy ETF Holds 55 stocks in clean energy, 18% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Fidelity | VanEck |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 9.7% | 18.2% |
| Active share vs the S&P 500 | 99.5% | 97.8% |
| In the Nasdaq-100 | 0.0% | 8.1% |
| Holdings | 50 | 55 |
| Top ten, share of the fund | 37.9% | 60.1% |
| Expense ratio | 0.39% | 0.64% |
| Fee for the differing part | 0.39% | 0.65% |
| Total return, 1 year | +16.4% | +11.5% |
| vs the S&P 500 | −0.2 pts | −5.0 pts |
| vs the Nasdaq-100 | −5.4 pts | −10.2 pts |
| Below its high | −21.7% | −23.9% |
| Net assets | $97m | $131m |
FRNW in plain words
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 Sep 18, 2026 the fund returned +16.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was about even. It sits 21.7% below its all-time high of Nov 1, 2021.
SMOG in plain words
By weight, 18% of SMOG'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 60% of the fund across 55 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +11.5% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 5.0 pts. It sits 23.9% below its all-time high of Jan 22, 2021.
Questions people ask
- Do FRNW and SMOG hold the same stocks?
- By their latest filings, 18% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, FRNW or SMOG?
- FRNW has 10% of its weight in S&P 500 names and SMOG has 18%, so FRNW differs more from the index.
- Which is cheaper, FRNW or SMOG?
- FRNW charges 0.39% a year and SMOG charges 0.64%, so FRNW 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, FRNW against SMOG, data as of Sep 18, 2026. https://etfiq.com/compare/themes/frnw-vs-smog Free to use with attribution; the underlying files are at Open data.