Do FRNW and TAN hold the same stocks?

By their latest filings, 31% 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 TAN?

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

Which is cheaper, FRNW or TAN?

FRNW charges 0.39% a year and TAN charges 0.70%, so FRNW is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

FRNW vs TAN: Holdings Overlap & Returns

Share on X Download as PDF

Over the year to Nov 4, 2026, FRNW returned +3.1% to TAN's −4.5%; 31% of their weight is in the same names.

askIQ about this page

askIQ about FRNW and TAN

Net assets: $91m on Sep 30, 2026 for Fidelity Clean Energy ETF, and $937m on Nov 3, 2026 for Invesco Solar ETF.

FRNW on its own →TAN on its own →

At a glance

9.7%

FRNW in the S&P 500

9.7%

TAN in the S&P 500

+3.1%

FRNW total return, 1 year

−4.5%

TAN 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.

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

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

FRNW costs 0.31 points a year less; their one-year returns differ by 7.6 points.

Points (pts) are percentage points.

FRNW vs TAN: Holdings Overlap & Returns
Measure	FRNW	TAN
Return
Measure	FRNW	TAN
Total return, 1 year	+3.1%	−4.5%
Drawdown
Measure	FRNW	TAN
Below its all-time high	22.8%, high on Nov 1, 2021	79.0%, high on May 16, 2008
Against its benchmark
Measure	FRNW	TAN
What it tracks	Clean energy	Clean energy
Its benchmark, total return, 1 year		+15.0%
Against its benchmark, 1 year		behind by 19.5 pts
Cost and size
Measure	FRNW	TAN
Expense ratio	0.39%	0.70%
Net assets, FRNW as of Sep 30, 2026 and TAN as of Nov 3, 2026	$91m	$937m
Holdings
Measure	FRNW	TAN
Holdings in common	31%

Method

What they share

31%

By the books each fund has filed, FRNW and TAN hold 31% 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

31% in common

Positions both hold · largest shared weight first FRNW TAN

FIRST SOLAR INC 3.68% 9.66%

NEXTPOWER INC 3.31% 12.58%

ENLIGHT RENEWABLE ENERGY LTD 3.15% 7.63%

ENPHASE ENERGY INC 2.12% 6.69%

CLEARWAY ENERGY INC 1.98% 4.49%

SUNRUN INC 1.87% 4.27%

SOLAREDGE TECHNOLOGIES INC 1.81% 3.96%

SOLARIA ENERGIA Y MEDIO AMBIENTE SA 1.53% 3.18%

T1 ENERGY INC 1.47% 1.38%

SMA SOLAR TECHNOLOGY AG 1.36% 2.07%

SHOALS TECHNOLOGIES GROUP INC 1.35% 3.12%

GRENERGY RENOVABLES SA 1.34% 1.72%

Only in one fund ↓

Only in FRNW

GE VERNOVA INC 5.99%

VESTAS WIND SYSTEMS AS 4.73%

BLOOM ENERGY CORP 4.51%

EDP S.A. 3.72%

ACCIONA SA 2.96%

ORSTED A/S 2.92%

NORDEX SE 2.81%

VERBUND AG 2.32%

Only in TAN

HA Sustainable Infrastructure Capital Inc 5.20%

Doral Group Renewable Energy Resources Ltd 4.88%

GCL Technology Holdings Ltd 3.71%

OY Nofar Energy Ltd 2.54%

Energix-Renewable Energies Ltd 2.05%

United Renewable Energy Co Ltd 1.92%

Daqo New Energy Corp 1.72%

Scatec ASA 1.61%

Check overlap with more funds →

Window by window

Window by window: FRNW vs TAN: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	FRNW	TAN	FRNW	TAN
3 months	−4.5%	−10.7%	not measured	−9.4 pts vs ACWI
6 months	−16.2%	−24.3%	not measured	−26.9 pts vs ACWI
1 year	+3.1%	−4.5%	not measured	−19.5 pts vs ACWI
3 years	+49.5%	+3.0%	not measured	−74.6 pts vs ACWI
Since launchNot the same days: FRNW Oct 2021 · TAN Apr 2008	−10.7%	−76.1%	not measured	not measured

Open this comparison in the app →

Side by side

FRNW Fidelity Clean Energy ETF · Holds 50 stocks in clean energy, 10% of its weight in S&P 500 companies TAN Invesco Solar ETF · Holds 37 stocks in clean energy, 10% of its weight in S&P 500 companies

Issuer Fidelity Invesco

Theme Clean energy Clean energy

In the S&P 500 9.7% 9.7%

Active share vs the S&P 500 99.5% 100.0%

In the Nasdaq-100 0.0% 0.0%

Holdings 50 37

Top ten, share of the fund 37.8% 63.1%

Expense ratio 0.39% 0.70%

Fee for the differing part 0.39% 0.70%

Total return, 1 year +3.1% −4.5%

vs its benchmark not measured −19.5 pts vs ACWI

Below its high −22.8% −79.0%

Net assets, FRNW as of Sep 30, 2026 and TAN as of Nov 3, 2026 $91m $937m

As of Nov 4, 2026. Source: ETFIQ.

31% 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.

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 FRNW and TAN hold the same stocks?: By their latest filings, 31% 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 TAN?: FRNW has 10% of its weight in S&P 500 names and TAN has 10%, so TAN differs more from the index.
Which is cheaper, FRNW or TAN?: FRNW charges 0.39% a year and TAN charges 0.70%, so FRNW is cheaper. Fees come from each fund's prospectus.

Other comparisons

FRNW vs QCLN FRNW vs ICLN FRNW vs PBW FRNW vs FAN TAN vs VCLN TAN vs ICLN TAN vs HYDR TAN vs PBD

Where to next

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

Sources and dates

FRNW filings on SEC EDGAR ↗

FRNW prospectus with the expense ratio (SEC) ↗

Fidelity website ↗

TAN filings on SEC EDGAR ↗

TAN prospectus with the expense ratio (SEC) ↗

Invesco page for TAN ↗

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 TAN, data as of Nov 4, 2026. https://etfiq.com/compare/themes/frnw-vs-tan

Open data →

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