Data as of .
ICLN vs PBD: which is really different?
ICLN and PBD hold 19% of their weight in the same names, and ICLN returned more over the year.
ETFIQ Off-Index Score: ICLN 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
19% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, ICLN and PBD hold 19% of their money in the same securities at the same weight.
| Holding | ICLN | PBD |
|---|---|---|
| BLOOM ENERGY CLASS A | 9.06% | 1.13% |
| SOLAREDGE TECHNOLOGIES | 1.99% | 1.04% |
| SOLARIA ENERGIA Y MEDIO AMBIENTE S | 1.08% | 1.02% |
| VESTAS WIND SYSTEMS | 4.33% | 0.98% |
| GREEN PLAINS | 0.99% | 0.95% |
| ORSTED A/S | 1.55% | 0.95% |
| PLUG POWER | 2.74% | 0.88% |
| SHOALS TECHNOLOGIES GROUP CLASS A | 1.19% | 0.88% |
| ENLIGHT RENEWABLE ENERGY | 1.98% | 0.85% |
| FIRST SOLAR | 7.58% | 0.85% |
| ENPHASE ENERGY | 4.29% | 0.83% |
| EDP RENEWABLES SA | 0.79% | 0.90% |
| Only in ICLN | Only in PBD |
|---|---|
| CHINA YANGTZE POWER LTD A 7.78% | Doosan Fuel Cell Co Ltd 1.34% |
| NEXTPOWER INC 6.36% | Lotte Energy Materials Corp 1.22% |
| EQUATORIAL SA 3.36% | CS Wind Corp 1.09% |
| EDP ENERGIAS DE PORTUGAL 2.93% | Mercury NZ Ltd 1.05% |
| CHUBU ELECTRIC POWER INC 2.72% | Nibe Industrier AB 1.05% |
| CLEARWAY ENERGY INC CLASS C 1.89% | Samsung SDI Co Ltd 1.05% |
| SUZLON ENERGY 1.85% | J&V Energy Technology Co Ltd 1.04% |
| ENERGISA UNITS 1.49% | LS Electric Co Ltd 1.02% |
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 Sep 18, 2026 and Sep 19, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ICLN | PBD | ICLN | PBD | ICLN | PBD | |
| 3 months | −16.8% | −14.9% | −19.0 pts | −17.1 pts | −14.3 pts | −12.4 pts |
| 6 months | −2.5% | −0.8% | −20.5 pts | −18.8 pts | −26.8 pts | −25.0 pts |
| 1 year | +18.0% | +17.0% | +1.4 pts | +0.4 pts | −3.8 pts | −4.8 pts |
| 3 years | +18.6% | +12.7% | −59.8 pts | −65.7 pts | −79.5 pts | −85.5 pts |
| Since launch | +9.3% | +32.1% | −794.3 pts | −771.4 pts | −1681.0 pts | −1658.1 pts |
| ICLN iShares Global Clean Energy ETF Holds 138 stocks in clean energy, 8% of its weight in S&P 500 companies | PBD Invesco Global Clean Energy ETF Holds 124 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 | 7.7% | 1.7% |
| Active share vs the S&P 500 | 100.0% | 99.9% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 138 | 124 |
| Top ten, share of the fund | 51.9% | 11.1% |
| Expense ratio | 0.38% | 0.75% |
| Fee for the differing part | 0.38% | 0.75% |
| Total return, 1 year | +18.0% | +17.0% |
| vs the S&P 500 | +1.4 pts | +0.4 pts |
| vs the Nasdaq-100 | −3.8 pts | −4.8 pts |
| Below its high | −43.5% | −52.6% |
| Net assets | $2.1bn | $118m |
ICLN in plain words
By weight, 8% 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 138 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +18.0% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 1.4 pts. It sits 43.5% below its all-time high of Jan 7, 2021.
PBD in plain words
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 11% of the fund across 124 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned +17.0% with distributions reinvested against +16.6% for the S&P 500, so a holder was about even. It sits 52.6% below its all-time high of Jan 22, 2021.
Questions people ask
- Do ICLN and PBD hold the same stocks?
- By their latest filings, 19% 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, ICLN or PBD?
- ICLN has 8% 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
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, ICLN against PBD, data as of Sep 18, 2026. https://etfiq.com/compare/themes/icln-vs-pbd Free to use with attribution; the underlying files are at Open data.