Data as of .
PBD vs PBW: which is really different?
PBD and PBW hold 20% of their weight in the same names, and PBD returned more over the year.
ETFIQ Off-Index Score: PBD 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
20% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, PBD and PBW hold 20% of their money in the same securities at the same weight.
| Holding | PBD | PBW |
|---|---|---|
| Bloom Energy Corp | 1.13% | 1.50% |
| SolarEdge Technologies Inc | 1.04% | 1.17% |
| Eos Energy Enterprises Inc | 0.96% | 0.98% |
| Rivian Automotive Inc | 0.95% | 1.89% |
| Darling Ingredients Inc | 0.95% | 2.39% |
| Sociedad Quimica y Minera de Chile SA | 0.91% | 1.71% |
| EVgo Inc | 0.90% | 1.49% |
| XPeng Inc | 0.88% | 1.51% |
| Plug Power Inc | 0.88% | 1.46% |
| Shoals Technologies Group Inc | 0.88% | 1.32% |
| SES AI Corp | 0.88% | 1.00% |
| Itron Inc | 0.87% | 2.10% |
| Only in PBD | Only in PBW |
|---|---|
| Doosan Fuel Cell Co Ltd 1.34% | Beta Technologies Inc 2.59% |
| Lotte Energy Materials Corp 1.22% | Cadeler A/S 2.29% |
| CS Wind Corp 1.09% | Gevo Inc 2.15% |
| Verbund AG 1.06% | OPAL Fuels Inc 2.04% |
| Mercury NZ Ltd 1.05% | Gentherm Inc 2.01% |
| Nibe Industrier AB 1.05% | Preformed Line Products Co 1.95% |
| Samsung SDI Co Ltd 1.05% | REX American Resources Corp 1.91% |
| J&V Energy Technology Co Ltd 1.04% | Archer Aviation Inc 1.89% |
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 19, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| PBD | PBW | PBD | PBW | PBD | PBW | |
| 3 months | −14.9% | −25.8% | −17.1 pts | −28.1 pts | −12.4 pts | −23.4 pts |
| 6 months | −0.8% | −0.1% | −18.8 pts | −18.1 pts | −25.0 pts | −24.3 pts |
| 1 year | +17.0% | +11.1% | +0.4 pts | −5.5 pts | −4.8 pts | −10.7 pts |
| 3 years | +12.7% | −4.3% | −65.7 pts | −82.7 pts | −85.5 pts | −102.5 pts |
| Since launch | +32.1% | −25.2% | −771.4 pts | −828.8 pts | −1658.1 pts | −1715.5 pts |
| PBD Invesco Global Clean Energy ETF Holds 124 stocks in clean energy, 2% of its weight in S&P 500 companies | PBW Invesco WilderHill Clean Energy ETF Holds 74 stocks in clean energy, 8% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Invesco | Invesco |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 1.7% | 7.7% |
| Active share vs the S&P 500 | 99.9% | 97.9% |
| In the Nasdaq-100 | 0.0% | 3.2% |
| Holdings | 124 | 74 |
| Top ten, share of the fund | 11.1% | 21.3% |
| Expense ratio | 0.75% | 0.63% |
| Fee for the differing part | 0.75% | 0.64% |
| Total return, 1 year | +17.0% | +11.1% |
| vs the S&P 500 | +0.4 pts | −5.5 pts |
| vs the Nasdaq-100 | −4.8 pts | −10.7 pts |
| Below its high | −52.6% | −74.5% |
| Net assets | $118m | $363m |
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.
PBW in plain words
By weight, 8% of PBW'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 21% of the fund across 74 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned +11.1% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 5.5 pts. It sits 74.5% below its all-time high of Feb 9, 2021.
Questions people ask
- Do PBD and PBW hold the same stocks?
- By their latest filings, 20% 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, PBD or PBW?
- PBD has 2% of its weight in S&P 500 names and PBW has 8%, so PBD differs more from the index.
- Which is cheaper, PBD or PBW?
- PBD charges 0.75% a year and PBW charges 0.63%, so PBW 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, PBD against PBW, data as of Sep 18, 2026. https://etfiq.com/compare/themes/pbd-vs-pbw Free to use with attribution; the underlying files are at Open data.