Do ICLN and PBD hold the same stocks?

By their latest filings, 18% 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, ICLN or PBD?

ICLN has 9% of its weight in S&P 500 names and PBD has 2%, so ICLN differs more from the index.

Which is cheaper, ICLN or PBD?

ICLN charges 0.38% a year and PBD charges 0.75%, so ICLN is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

ICLN vs PBD: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, ICLN returned −2.3% to PBD's −2.1%; 18% of their weight is in the same names.

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Net assets: $2.1bn on Nov 4, 2026 for iShares Global Clean Energy ETF, and $99m on Nov 3, 2026 for Invesco Global Clean Energy ETF.

ICLN on its own →PBD on its own →

At a glance

8.8%

ICLN in the S&P 500

1.9%

PBD in the S&P 500

−2.3%

ICLN total return, 1 year

−2.1%

PBD total return, 1 year

ICLN · 1 year to Nov 4, 2026 91% of its weight is outside the S&P 500

9% of ICLN's weight is in S&P 500 companies and 91% is outside the index. Holdings as of Nov 3, 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

ICLN costs 0.37 points a year less; their one-year returns differ by 0.2 points; ICLN is far larger, $2.0bn against $99m.

Points (pts) are percentage points.

ICLN vs PBD: Holdings Overlap & Returns
Measure	ICLN	PBD
Return
Measure	ICLN	PBD
Total return, 1 year	−2.3%	−2.1%
Drawdown
Measure	ICLN	PBD
Below its all-time high	54.7%, high on Jun 25, 2008	56.6%, high on Jan 22, 2021
Against its benchmark
Measure	ICLN	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	ICLN	PBD
Expense ratio	0.38%	0.75%
Net assets, as of Nov 3, 2026	$2.0bn	$99m
Holdings
Measure	ICLN	PBD
Holdings in common	18%

Method

Risk and return

Jul 3, 2008 to Oct 30, 2026 · 956 weekly returns

ICLN PBD

Return

Total return edge PBD −53.6% −23.5%

Annualized edge PBD −4.1% −1.4%

Price return edge PBD −67.8% −42.0%

Risk

Volatility edge PBD (slight) 32.2% 29.6%

Max drawdown edge PBD −86.1% −73.8%

Risk-adjusted

Sharpe edge PBD −0.01 0.05

Sortino edge PBD −0.02 0.07

Calmar edge PBD −0.05 −0.02

Reading

From Jul 2008 to Oct 2026, PBD returned more: −23.5% to −53.6%. PBD swung slightly less: 29.6% to 32.2%. PBD fell less at its worst: −73.8% to −86.1%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: ICLN vs PBD: Holdings Overlap & Returns
Measure	ICLN	PBD	Edge	How it is measured
Return
Total return	−53.6%	−23.5%	PBD	Price change plus distributions, reinvested.
Annualized	−4.1%	−1.4%	PBD	Total return as a yearly rate.
Price return	−67.8%	−42.0%	PBD	Price change alone, distributions left out.
Risk
Volatility	32.2%	29.6%	PBD (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	23.2%	21.7%	PBD (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−86.1%	−73.8%	PBD	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.01	0.05	PBD	Return above Treasury bills per unit of volatility.
Sortino	−0.02	0.07	PBD	Return above Treasury bills per unit of downside deviation.
Calmar	−0.05	−0.02	PBD	Annualized return divided by the max drawdown.

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

18%

By the books each fund has filed, ICLN and PBD hold 18% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

18% in common

Positions both hold · largest shared weight first ICLN PBD

SOLAREDGE TECHNOLOGIES 1.44% 1.10%

NORDEX 1.45% 1.04%

ORSTED A/S 1.54% 1.02%

VESTAS WIND SYSTEMS 3.32% 1.01%

BLOOM ENERGY CLASS A 6.23% 1.01%

SHOALS TECHNOLOGIES GROUP CLASS A 1.01% 1.09%

SOLARIA ENERGIA Y MEDIO AMBIENTE S 0.93% 1.00%

FIRST SOLAR 8.75% 0.90%

ORMAT TECH INC 3.08% 0.89%

ENLIGHT RENEWABLE ENERGY 1.96% 0.83%

ENPHASE ENERGY 2.85% 0.82%

EDP RENEWABLES SA 0.80% 1.01%

Only in one fund ↓

Only in ICLN

NEXTPOWER INC 9.29%

IBERDROLA 6.71%

CHINA YANGTZE POWER LTD A 5.59%

AXIA ENERGIA SA 3.84%

CHUBU ELECTRIC POWER INC 2.70%

EDP ENERGIAS DE PORTUGAL 2.26%

CLEARWAY ENERGY INC CLASS C 2.21%

EQUATORIAL SA 1.93%

Only in PBD

SES AI Corp 1.38%

Lotte Energy Materials Corp 1.29%

Landis+Gyr Group AG 1.27%

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%

Check overlap with more funds →

Window by window

Window by window: ICLN vs PBD: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	ICLN	PBD	ICLN	PBD
3 months	−8.3%	−12.4%	not measured	−10.8 pts vs EFA
6 months	−21.9%	−27.2%	not measured	−29.7 pts vs EFA
1 year	−2.3%	−2.1%	not measured	−19.0 pts vs EFA
3 years	+27.1%	+17.1%	not measured	−49.7 pts vs EFA
Since launchNot the same days: ICLN Jun 2008 · PBD Jun 2007	−54.7%	−17.6%	not measured	not measured

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Side by side

ICLN iShares Global Clean Energy ETF · Holds 106 stocks in clean energy, 9% 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 iShares Invesco

Theme Clean energy Clean energy

In the S&P 500 8.8% 1.9%

Active share vs the S&P 500 100.0% 99.9%

In the Nasdaq-100 0.0% 0.0%

Holdings 106 111

Top ten, share of the fund 52.4% 12.2%

Expense ratio 0.38% 0.75%

Fee for the differing part 0.38% 0.75%

Total return, 1 year −2.3% −2.1%

vs its benchmark not measured −19.0 pts vs EFA

Below its high −54.7% −56.6%

Net assets, ICLN as of Nov 4, 2026 and PBD as of Nov 3, 2026 $2.1bn $99m

As of Nov 4, 2026. Source: ETFIQ.

18% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

ICLN

By weight, 9% of ICLN'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 52% of the fund across 106 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −2.3% with distributions reinvested. It sits 54.7% below its all-time high of Jun 25, 2008.

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 ICLN and PBD hold the same stocks?: By their latest filings, 18% 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, ICLN or PBD?: ICLN has 9% of its weight in S&P 500 names and PBD has 2%, so ICLN differs more from the index.
Which is cheaper, ICLN or PBD?: ICLN charges 0.38% a year and PBD charges 0.75%, so ICLN is cheaper. Fees come from each fund's prospectus.

Other comparisons

ICLN vs KGRN ICLN vs ACES ICLN vs SMOG ICLN vs CNRG PBD vs TAN PBD vs QCLN PBD vs PBW PBD vs CNRG

Where to next

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

Sources and dates

ICLN filings on SEC EDGAR ↗

ICLN prospectus with the expense ratio (SEC) ↗

iShares page for ICLN ↗

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

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