Data as of .
FRNW vs VCLN: which is really different?
FRNW and VCLN hold 36% of their weight in the same names, and VCLN 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
36% 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 VCLN hold 36% of their money in the same securities at the same weight.
| Holding | FRNW | VCLN |
|---|---|---|
| BLOOM ENERGY CORP | 4.53% | 9.30% |
| FIRST SOLAR INC | 3.69% | 6.48% |
| VESTAS WIND SYSTEMS AS | 4.74% | 3.60% |
| NEXTPOWER INC | 3.32% | 7.04% |
| EDP S.A. | 3.74% | 3.00% |
| ORSTED A/S | 2.93% | 2.43% |
| ENPHASE ENERGY INC | 2.13% | 3.14% |
| CLEARWAY ENERGY INC | 1.99% | 4.10% |
| ORMAT TECHNOLOGIES INC | 2.23% | 1.81% |
| SOLARIA ENERGIA Y MEDIO AMBIENTE SA | 1.54% | 1.82% |
| SOLAREDGE TECHNOLOGIES INC | 1.81% | 1.50% |
| PLUG POWER INC | 1.49% | 3.34% |
| Only in FRNW | Only in VCLN |
|---|---|
| ENLIGHT RENEWABLE ENERGY LTD 3.16% | CHINA YANGTZE POWER CO LTD 5.55% |
| ACCIONA SA 2.97% | IBERDROLA SA 3.65% |
| NORDEX SE 2.82% | CERES POWER HOLDINGS PLC 2.91% |
| VERBUND AG 2.33% | PRYSMIAN SPA 2.80% |
| BROOKFIELD RENEWABLE CORP 2.32% | MAIRE SPA 2.66% |
| ITRON INC 2.28% | FORTUM OYJ 2.40% |
| VINCI SA 2.23% | AXIA ENERGIA 2.32% |
| MERIDIAN ENERGY LTD 2.18% | NEXTERA ENERGY INC 2.10% |
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 Apr 30, 2026 and Jun 30, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FRNW | VCLN | FRNW | VCLN | FRNW | VCLN | |
| 3 months | −12.0% | −14.7% | −14.3 pts | −16.9 pts | −9.6 pts | −12.2 pts |
| 6 months | −2.2% | +2.3% | −20.2 pts | −15.8 pts | −26.4 pts | −22.0 pts |
| 1 year | +16.4% | +23.6% | −0.2 pts | +7.1 pts | −5.4 pts | +1.9 pts |
| 3 years | +33.7% | +59.4% | −44.7 pts | −19.0 pts | −64.5 pts | −38.8 pts |
| Since launch | −9.4% | +14.2% | −95.1 pts | −72.0 pts | −114.0 pts | −88.2 pts |
| FRNW Fidelity Clean Energy ETF Holds 50 stocks in clean energy, 10% of its weight in S&P 500 companies | VCLN Virtus Duff & Phelps Clean Energy ETF Holds 41 stocks in clean energy, 14% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Fidelity | Virtus |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 9.7% | 14.1% |
| Active share vs the S&P 500 | 99.5% | 98.9% |
| In the Nasdaq-100 | 0.0% | 1.7% |
| Holdings | 50 | 41 |
| Top ten, share of the fund | 37.9% | 49.2% |
| Expense ratio | 0.39% | 0.59% |
| Fee for the differing part | 0.39% | 0.60% |
| Total return, 1 year | +16.4% | +23.6% |
| vs the S&P 500 | −0.2 pts | +7.1 pts |
| vs the Nasdaq-100 | −5.4 pts | +1.9 pts |
| Below its high | −21.7% | −22.6% |
| Net assets | $97m | $6m |
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.
VCLN in plain words
By weight, 14% of VCLN'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 49% of the fund across 41 positions, as filed for Apr 30, 2026. Over the year to Sep 18, 2026 the fund returned +23.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 7.1 pts. It sits 22.6% below its all-time high of Jun 2, 2026.
Questions people ask
- Do FRNW and VCLN hold the same stocks?
- By their latest filings, 36% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, FRNW or VCLN?
- FRNW has 10% of its weight in S&P 500 names and VCLN has 14%, so FRNW differs more from the index.
- Which is cheaper, FRNW or VCLN?
- FRNW charges 0.39% a year and VCLN charges 0.59%, 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 VCLN, data as of Sep 18, 2026. https://etfiq.com/compare/themes/frnw-vs-vcln Free to use with attribution; the underlying files are at Open data.