Data as of .
ICLN vs QCLN: which is really different?
ICLN and QCLN hold 25% 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
25% 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 QCLN hold 25% of their money in the same securities at the same weight.
| Holding | ICLN | QCLN |
|---|---|---|
| BLOOM ENERGY CLASS A | 9.06% | 10.51% |
| NEXTPOWER INC | 6.36% | 4.00% |
| FIRST SOLAR | 7.58% | 3.96% |
| ENLIGHT RENEWABLE ENERGY | 1.98% | 3.60% |
| ENPHASE ENERGY | 4.29% | 1.57% |
| CLEARWAY ENERGY INC CLASS C | 1.89% | 1.28% |
| PLUG POWER | 2.74% | 1.00% |
| SOLAREDGE TECHNOLOGIES | 1.99% | 0.73% |
| SHOALS TECHNOLOGIES GROUP CLASS A | 1.19% | 0.44% |
| T1 ENERGY | 0.82% | 0.42% |
| RENEW ENERGY GLOBAL PLC CLASS A | 0.26% | 0.58% |
| ARRAY TECHNOLOGIES INC | 0.56% | 0.21% |
| Only in ICLN | Only in QCLN |
|---|---|
| CHINA YANGTZE POWER LTD A 7.78% | Tesla, Inc. 8.08% |
| VESTAS WIND SYSTEMS 4.33% | Monolithic Power Systems, Inc. 7.84% |
| EQUATORIAL SA 3.36% | ON Semiconductor Corporation 7.71% |
| EDP ENERGIAS DE PORTUGAL 2.93% | Rivian Automotive, Inc. (Class A) 6.89% |
| CHUBU ELECTRIC POWER INC 2.72% | Advanced Energy Industries, Inc. 3.61% |
| SUZLON ENERGY 1.85% | Albemarle Corporation 3.35% |
| ORSTED A/S 1.55% | Acuity Inc. 3.12% |
| ENERGISA UNITS 1.49% | Brookfield Renewable Partners LP 3.08% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ICLN | QCLN | ICLN | QCLN | ICLN | QCLN | |
| 3 months | −16.8% | −25.6% | −19.0 pts | −27.8 pts | −14.3 pts | −23.1 pts |
| 6 months | −2.5% | +4.5% | −20.5 pts | −13.6 pts | −26.8 pts | −19.8 pts |
| 1 year | +18.0% | +16.1% | +1.4 pts | −0.5 pts | −3.8 pts | −5.7 pts |
| 3 years | +18.6% | +7.8% | −59.8 pts | −70.6 pts | −79.5 pts | −90.4 pts |
| Since launch | +9.3% | +222.2% | −794.3 pts | −581.4 pts | −1681.0 pts | −1468.0 pts |
| ICLN iShares Global Clean Energy ETF Holds 138 stocks in clean energy, 8% of its weight in S&P 500 companies | QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund Holds 58 stocks in clean energy, 31% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | iShares | First Trust |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 7.7% | 30.9% |
| Active share vs the S&P 500 | 100.0% | 97.9% |
| In the Nasdaq-100 | 0.0% | 15.9% |
| Holdings | 138 | 58 |
| Top ten, share of the fund | 51.9% | 59.5% |
| Expense ratio | 0.38% | 0.59% |
| Fee for the differing part | 0.38% | 0.60% |
| Total return, 1 year | +18.0% | +16.1% |
| vs the S&P 500 | +1.4 pts | −0.5 pts |
| vs the Nasdaq-100 | −3.8 pts | −5.7 pts |
| Below its high | −43.5% | −44.6% |
| Net assets | $2.1bn | $546m |
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.
QCLN in plain words
By weight, 31% of QCLN'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 58 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +16.1% with distributions reinvested against +16.6% for the S&P 500, so a holder was about even. It sits 44.6% below its all-time high of Feb 9, 2021.
Questions people ask
- Do ICLN and QCLN hold the same stocks?
- By their latest filings, 25% 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, ICLN or QCLN?
- ICLN has 8% of its weight in S&P 500 names and QCLN has 31%, so ICLN differs more from the index.
- Which is cheaper, ICLN or QCLN?
- ICLN charges 0.38% a year and QCLN charges 0.59%, 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 QCLN, data as of Sep 18, 2026. https://etfiq.com/compare/themes/icln-vs-qcln Free to use with attribution; the underlying files are at Open data.