Data as of .
ICLN vs TAN: which is really different?
ICLN and TAN hold 31% 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
31% 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 TAN hold 31% of their money in the same securities at the same weight.
| Holding | ICLN | TAN |
|---|---|---|
| FIRST SOLAR | 7.58% | 9.81% |
| NEXTPOWER INC | 6.36% | 8.84% |
| ENPHASE ENERGY | 4.29% | 6.37% |
| SOLAREDGE TECHNOLOGIES | 1.99% | 3.86% |
| ENLIGHT RENEWABLE ENERGY | 1.98% | 8.19% |
| CLEARWAY ENERGY INC CLASS C | 1.89% | 3.64% |
| SHOALS TECHNOLOGIES GROUP CLASS A | 1.19% | 2.85% |
| SOLARIA ENERGIA Y MEDIO AMBIENTE S | 1.08% | 3.42% |
| T1 ENERGY | 0.82% | 2.00% |
| ARRAY TECHNOLOGIES INC | 0.56% | 1.55% |
| DORAL GROUP RENEWABLE ENERGY RESOU | 0.51% | 4.68% |
| CANADIAN SOLAR | 0.50% | 1.46% |
| Only in ICLN | Only in TAN |
|---|---|
| BLOOM ENERGY CLASS A 9.06% | HA Sustainable Infrastructure Capital Inc 4.39% |
| CHINA YANGTZE POWER LTD A 7.78% | GCL Technology Holdings Ltd 4.35% |
| VESTAS WIND SYSTEMS 4.33% | Sunrun Inc 3.86% |
| EQUATORIAL SA 3.36% | Xinyi Solar Holdings Ltd 2.78% |
| EDP ENERGIAS DE PORTUGAL 2.93% | Grenergy Renovables SA 2.16% |
| PLUG POWER 2.74% | Scatec ASA 2.06% |
| CHUBU ELECTRIC POWER INC 2.72% | United Renewable Energy Co Ltd/Taiwan 1.85% |
| SUZLON ENERGY 1.85% | Daqo New Energy Corp 1.68% |
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 | TAN | ICLN | TAN | ICLN | TAN | |
| 3 months | −16.8% | −24.6% | −19.0 pts | −26.9 pts | −14.3 pts | −22.1 pts |
| 6 months | −2.5% | −17.2% | −20.5 pts | −35.2 pts | −26.8 pts | −41.5 pts |
| 1 year | +18.0% | +6.7% | +1.4 pts | −9.9 pts | −3.8 pts | −15.1 pts |
| 3 years | +18.6% | −15.9% | −59.8 pts | −94.3 pts | −79.5 pts | −114.0 pts |
| Since launch | +9.3% | −41.6% | −794.3 pts | −845.2 pts | −1681.0 pts | −1731.9 pts |
| ICLN iShares Global Clean Energy ETF Holds 138 stocks in clean energy, 8% of its weight in S&P 500 companies | TAN Invesco Solar ETF Holds 45 stocks in clean energy, 10% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | iShares | Invesco |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 7.7% | 9.8% |
| Active share vs the S&P 500 | 100.0% | 100.0% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 138 | 45 |
| Top ten, share of the fund | 51.9% | 58.0% |
| Expense ratio | 0.38% | 0.70% |
| Fee for the differing part | 0.38% | 0.70% |
| Total return, 1 year | +18.0% | +6.7% |
| vs the S&P 500 | +1.4 pts | −9.9 pts |
| vs the Nasdaq-100 | −3.8 pts | −15.1 pts |
| Below its high | −43.5% | −62.3% |
| Net assets | $2.1bn | $953m |
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.
TAN in plain words
By weight, 10% of TAN'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 58% of the fund across 45 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned +6.7% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 9.9 pts. It sits 62.3% below its all-time high of Feb 9, 2021.
Questions people ask
- Do ICLN and TAN hold the same stocks?
- By their latest filings, 31% 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 TAN?
- ICLN has 8% of its weight in S&P 500 names and TAN has 10%, so ICLN differs more from the index.
- Which is cheaper, ICLN or TAN?
- ICLN charges 0.38% a year and TAN charges 0.70%, 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 TAN, data as of Sep 18, 2026. https://etfiq.com/compare/themes/icln-vs-tan Free to use with attribution; the underlying files are at Open data.