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Data as of Nov 4, 2026.

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Thematic ETFs

IQSZ vs PWER: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, IQSZ returned +19.3% to PWER's +34.8%; 3% of their weight is in the same names.

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Net assets: $166m on Nov 3, 2026 for Invesco Global Equity Net Zero ETF, and $11m on Jun 30, 2026 for Nomura Energy Transition ETF.

IQSZ on its own →PWER on its own →
At a glance
61.3%
IQSZ in the S&P 500
42.1%
PWER in the S&P 500
+19.3%
IQSZ total return, 1 year
+34.8%
PWER total return, 1 year
IQSZ · 1 year to Nov 4, 2026 39% of its weight is outside the S&P 500
39% of its weight is outside the S&P 50061% of IQSZ's weight is in S&P 500 companies and 39% is outside the index. Holdings as of Nov 3, 2026.61%39%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 50% · top ten 24% of the fund · 468 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 33% in39% of its weight is outside the S&P 50061% of IQSZ's weight is in S&P 500 companies and 39% is outside the index. Holdings as of Nov 3, 2026.61%39%in the S&P 500outsideactive share 50% · Nasdaq-100: 33% in

61% of IQSZ's weight is in S&P 500 companies and 39% is outside the index. Holdings as of Nov 3, 2026.

PWER · 1 year to Nov 4, 2026 58% of its weight is outside the S&P 500
58% of its weight is outside the S&P 50042% of PWER's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.42%58%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 99% · top ten 47% of the fund · 31 holdings as filed for Jun 30, 2026 · Nasdaq-100: 4% in58% of its weight is outside the S&P 50042% of PWER's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.42%58%in the S&P 500outside the S&P 500active share 99% · Nasdaq-100: 4% in

42% of PWER's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

IQSZ costs 0.60 points a year less; their one-year returns differ by 15.5 points.

Points (pts) are percentage points.

IQSZ vs PWER: Holdings Overlap & Returns
MeasureIQSZPWER
Return
Total return, 1 year+19.3%+34.8%
Drawdown
Below its all-time high7.6%, high on Sep 8, 2026
Against its benchmark
What it tracksEnergy transition and decarbonisationEnergy transition and decarbonisation
Its benchmark, total return, 1 year+15.0%+15.0%
Against its benchmark, 1 yearahead by 4.3 ptsahead by 19.8 pts
Cost and size
Expense ratio0.19%0.79%
Net assets, IQSZ as of Nov 3, 2026 and PWER as of Jun 30, 2026$166m$11m
Holdings
Holdings in common3%

Method

What they share

3%

By the books each fund has filed, IQSZ and PWER hold 3% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

0 half 100%

half

3% in common

Positions both hold · largest shared weight first IQSZ PWER
EOG Resources Inc 0.48% 3.70%
Valero Energy Corp 0.41% 4.89%
Shell PLC 0.41% 3.35%
GE Vernova Inc 0.31% 3.49%
ConocoPhillips 0.30% 3.78%
Baker Hughes Co 0.15% 2.88%
Anglo American PLC 0.09% 2.91%
Teck Resources Ltd 0.09% 3.35%
First Solar Inc 0.08% 4.53%
Vistra Corp 0.07% 1.30%
Expand Energy Corp 0.07% 2.80%
Nexans SA 0.07% 1.94%
Only in one fund ↓
Only in IQSZ
Apple Inc 5.04%
NVIDIA Corp 3.77%
Microsoft Corp 3.69%
Amazon.com Inc 2.44%
Taiwan Semiconductor Manufacturing Co Ltd 1.94%
Alphabet Inc 1.74%
Broadcom Inc 1.50%
Meta Platforms Inc 1.38%
Only in PWER
Steel Dynamics, Inc. 6.41%
Hudbay Minerals, Inc. 5.67%
ERO Copper Corp. 5.01%
Generac Holdings, Inc. 4.51%
Arcosa, Inc. 4.49%
Alcoa Corp. 4.01%
HF Sinclair Corp. 4.01%
EQT Corp. 3.19%
Check overlap with more funds →

Window by window

Window by window: IQSZ vs PWER: Holdings Overlap & Returns
Total returnvs its benchmark
WindowIQSZPWERIQSZPWER
3 months−1.8%+0.5%−0.5 pts vs ACWI+1.8 pts vs ACWI
6 months+3.0%−0.5%+0.4 pts vs ACWI−3.1 pts vs ACWI
1 year+19.3%+34.8%+4.3 pts vs ACWI+19.8 pts vs ACWI
Since launchNot the same days: IQSZ Jul 2025 · PWER Nov 2023+30.1%+77.9%+5.7 pts vs ACWI+7.6 pts vs ACWI

Open this comparison in the app →

Side by side

IQSZ Invesco Global Equity Net Zero ETF · Holds 468 stocks in energy transition and decarbonisation, 61% of its weight in S&P 500 companies PWER Nomura Energy Transition ETF · Holds 31 stocks in energy transition and decarbonisation, 42% of its weight in S&P 500 companies
Issuer Invesco Nomura
Theme Energy transition and decarbonisation Energy transition and decarbonisation
In the S&P 500 61.3% 42.1%
Active share vs the S&P 500 50.0% 98.6%
In the Nasdaq-100 32.9% 3.5%
Holdings 468 31
Top ten, share of the fund 24.0% 47.3%
Expense ratio 0.19% 0.79%
Fee for the differing part 0.38% 0.80%
Total return, 1 year +19.3% +34.8%
vs its benchmark +4.3 pts vs ACWI +19.8 pts vs ACWI
Below its high −2.7% −7.6%
Net assets, IQSZ as of Nov 3, 2026 and PWER as of Jun 30, 2026 $166m $11m

As of Nov 4, 2026. Source: ETFIQ.

3% of the two portfolios are the same securities at the same weight.

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About each fund
IQSZ

By weight, 61% of IQSZ's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 50%. The top ten holdings are 24% of the fund across 468 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +19.3% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 4.3 pts.

PWER

By weight, 42% of PWER's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 47% of the fund across 31 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +34.8% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 19.8 pts. It sits 7.6% below its all-time high of Sep 8, 2026.

Questions people ask

Do IQSZ and PWER hold the same stocks?
By their latest filings, 3% 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, IQSZ or PWER?
IQSZ has 61% of its weight in S&P 500 names and PWER has 42%, so PWER differs more from the index.
Which is cheaper, IQSZ or PWER?
IQSZ charges 0.19% a year and PWER charges 0.79%, so IQSZ is cheaper. Fees come from each fund's prospectus.
Other comparisons
IQSZ vs PCLNIQSZ vs NVIRIQSZ vs NBETIQSZ vs EVXPWER vs USNZPWER vs ETECPWER vs NVIRPWER vs ETHO
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →IQSZ on its own →PWER on its own →IQSZ dividend history →IQSZ holdings →PWER dividend history →PWER holdings →Method →Standards and sources →
Sources and dates
IQSZ filings on SEC EDGAR ↗
IQSZ prospectus with the expense ratio (SEC) ↗
Invesco page for IQSZ ↗
PWER filings on SEC EDGAR ↗
PWER prospectus with the expense ratio (SEC) ↗
Nomura 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.

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ETFIQ, IQSZ against PWER, data as of Nov 4, 2026. https://etfiq.com/compare/themes/iqsz-vs-pwer

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