Do ICLN and SMOG hold the same stocks?

By their latest filings, 25% 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 SMOG?

ICLN has 9% of its weight in S&P 500 names and SMOG has 20%, so ICLN differs more from the index.

Which is cheaper, ICLN or SMOG?

ICLN charges 0.38% a year and SMOG charges 0.64%, so ICLN is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

ICLN vs SMOG: Holdings Overlap & Returns

Share on X Download as PDF

Over the year to Nov 4, 2026, ICLN returned −2.3% to SMOG's +2.7%; 25% of their weight is in the same names.

askIQ about this page

askIQ about ICLN and SMOG

Net assets: $2.1bn on Nov 4, 2026 for iShares Global Clean Energy ETF, and $126m on Nov 3, 2026 for VanEck Low Carbon Energy ETF.

ICLN on its own →SMOG on its own →

At a glance

8.8%

ICLN in the S&P 500

20.0%

SMOG in the S&P 500

−2.3%

ICLN total return, 1 year

+2.7%

SMOG 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.

SMOG · 1 year to Nov 4, 2026 80% of its weight is outside the S&P 500

20% of SMOG's weight is in S&P 500 companies and 80% is outside the index. Holdings as of Nov 2, 2026.

Pair scorecard

ICLN costs 0.26 points a year less; their one-year returns differ by 5.0 points; ICLN is 15.9 times larger.

Points (pts) are percentage points.

ICLN vs SMOG: Holdings Overlap & Returns
Measure	ICLN	SMOG
Return
Measure	ICLN	SMOG
Total return, 1 year	−2.3%	+2.7%
Drawdown
Measure	ICLN	SMOG
Below its all-time high	54.7%, high on Jun 25, 2008	24.9%, high on Jan 22, 2021
Against its benchmark
Measure	ICLN	SMOG
What it tracks	Clean energy	Clean energy
Its benchmark, total return, 1 year		+15.0%
Against its benchmark, 1 year		behind by 12.3 pts
Cost and size
Measure	ICLN	SMOG
Expense ratio	0.38%	0.64%
Net assets, as of Nov 3, 2026	$2.0bn	$126m
Holdings
Measure	ICLN	SMOG
Holdings in common	25%

Method

Risk and return

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

ICLN SMOG

Return

Total return edge SMOG −53.6% +7.5%

Annualized edge SMOG −4.1% +0.4%

Price return edge SMOG −67.8% −11.1%

Risk

Volatility edge SMOG (slight) 32.2% 29.6%

Max drawdown edge SMOG (slight) −86.1% −81.3%

Risk-adjusted

Sharpe edge SMOG −0.01 0.12

Sortino edge SMOG −0.02 0.16

Calmar edge SMOG −0.05 0.00

Reading

From Jul 2008 to Oct 2026, SMOG returned more: +7.5% to −53.6%. SMOG swung slightly less: 29.6% to 32.2%. SMOG fell slightly less at its worst: −81.3% to −86.1%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: ICLN vs SMOG: Holdings Overlap & Returns
Measure	ICLN	SMOG	Edge	How it is measured
Return
Total return	−53.6%	+7.5%	SMOG	Price change plus distributions, reinvested.
Annualized	−4.1%	+0.4%	SMOG	Total return as a yearly rate.
Price return	−67.8%	−11.1%	SMOG	Price change alone, distributions left out.
Risk
Volatility	32.2%	29.6%	SMOG (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	23.2%	21.8%	SMOG (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−86.1%	−81.3%	SMOG (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.01	0.12	SMOG	Return above Treasury bills per unit of volatility.
Sortino	−0.02	0.16	SMOG	Return above Treasury bills per unit of downside deviation.
Calmar	−0.05	0.00	SMOG	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

25%

By the books each fund has filed, ICLN and SMOG hold 25% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

25% in common

Positions both hold · largest shared weight first ICLN SMOG

IBERDROLA 6.71% 9.10%

BLOOM ENERGY CLASS A 6.23% 5.10%

AXIA ENERGIA SA 3.84% 2.92%

FIRST SOLAR 8.75% 2.90%

NEXTPOWER INC 9.29% 1.87%

NORDEX 1.45% 1.15%

ENLIGHT RENEWABLE ENERGY 1.96% 1.10%

ORMAT TECH INC 3.08% 0.91%

ENPHASE ENERGY 2.85% 0.60%

BROOKFIELD RENEWABLE SUBORDINATE V 0.58% 0.79%

VERBUND AG 0.53% 0.53%

ENEL AMERICAS SA 0.21% 0.34%

Only in one fund ↓

Only in ICLN

CHINA YANGTZE POWER LTD A 5.59%

VESTAS WIND SYSTEMS 3.32%

CHUBU ELECTRIC POWER INC 2.70%

EDP ENERGIAS DE PORTUGAL 2.26%

CLEARWAY ENERGY INC CLASS C 2.21%

EQUATORIAL SA 1.93%

SUZLON ENERGY 1.78%

ORSTED A/S 1.54%

Only in SMOG

Tesla Inc 9.28%

Nextera Energy Inc 7.64%

Enel Spa 6.99%

Byd Co Ltd 5.17%

Vestas Wind Systems A/S 4.72%

Samsung Sdi Co Ltd 4.13%

Kingspan Group Plc 2.99%

Rivian Automotive Inc 2.74%

Check overlap with more funds →

Window by window

Window by window: ICLN vs SMOG: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	ICLN	SMOG	ICLN	SMOG
3 months	−8.3%	−2.8%	not measured	−1.5 pts vs ACWI
6 months	−21.9%	−13.7%	not measured	−16.3 pts vs ACWI
1 year	−2.3%	+2.7%	not measured	−12.3 pts vs ACWI
3 years	+27.1%	+40.4%	not measured	−37.2 pts vs ACWI
Since launchNot the same days: ICLN Jun 2008 · SMOG May 2007	−54.7%	+35.1%	not measured	not measured

Open this comparison in the app →

Side by side

ICLN iShares Global Clean Energy ETF · Holds 106 stocks in clean energy, 9% of its weight in S&P 500 companies SMOG VanEck Low Carbon Energy ETF · Holds 55 stocks in clean energy, 20% of its weight in S&P 500 companies

Issuer iShares VanEck

Theme Clean energy Clean energy

In the S&P 500 8.8% 20.0%

Active share vs the S&P 500 100.0% 97.8%

In the Nasdaq-100 0.0% 9.4%

Holdings 106 55

Top ten, share of the fund 52.4% 58.2%

Expense ratio 0.38% 0.64%

Fee for the differing part 0.38% 0.65%

Total return, 1 year −2.3% +2.7%

vs its benchmark not measured −12.3 pts vs ACWI

Below its high −54.7% −24.9%

Net assets, ICLN as of Nov 4, 2026 and SMOG as of Nov 3, 2026 $2.1bn $126m

As of Nov 4, 2026. Source: ETFIQ.

25% of the two portfolios are the same securities at the same weight.

Client brief:

The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.

Your saved page · Privacy.

Alert

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.

SMOG

By weight, 20% of SMOG'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 58% of the fund across 55 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +2.7% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was behind by 12.3 pts. It sits 24.9% below its all-time high of Jan 22, 2021.

Questions people ask

Do ICLN and SMOG hold the same stocks?: By their latest filings, 25% 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 SMOG?: ICLN has 9% of its weight in S&P 500 names and SMOG has 20%, so ICLN differs more from the index.
Which is cheaper, ICLN or SMOG?: ICLN charges 0.38% a year and SMOG charges 0.64%, so ICLN is cheaper. Fees come from each fund's prospectus.

Other comparisons

ICLN vs QCLN ICLN vs RNRG ICLN vs ACES ICLN vs PBD SMOG vs TAN SMOG vs CCSO SMOG vs VCLN SMOG vs QCLN

Where to next

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

Sources and dates

ICLN filings on SEC EDGAR ↗

ICLN prospectus with the expense ratio (SEC) ↗

iShares page for ICLN ↗

SMOG filings on SEC EDGAR ↗

SMOG prospectus with the expense ratio (SEC) ↗

VanEck website ↗

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 SMOG, data as of Nov 4, 2026. https://etfiq.com/compare/themes/icln-vs-smog

Open data →

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