Do PBD and SMOG hold the same stocks?

By their latest filings, 21% 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, PBD or SMOG?

PBD has 2% of its weight in S&P 500 names and SMOG has 20%, so PBD differs more from the index.

Which is cheaper, PBD or SMOG?

PBD charges 0.75% a year and SMOG charges 0.64%, so SMOG is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

PBD vs SMOG: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, PBD returned −2.1% to SMOG's +2.7%; 21% of their weight is in the same names.

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Net assets on Nov 3, 2026: $99m for Invesco Global Clean Energy ETF and $126m for VanEck Low Carbon Energy ETF.

PBD on its own →SMOG on its own →

At a glance

1.9%

PBD in the S&P 500

20.0%

SMOG in the S&P 500

−2.1%

PBD total return, 1 year

+2.7%

SMOG total return, 1 year

PBD · 1 year to Nov 4, 2026 98% of its weight is outside the S&P 500

2% of PBD's weight is in S&P 500 companies and 98% 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

SMOG costs 0.11 points a year less; their one-year returns differ by 4.8 points; SMOG is 1.3 times larger.

Points (pts) are percentage points.

PBD vs SMOG: Holdings Overlap & Returns
Measure	PBD	SMOG
Return
Measure	PBD	SMOG
Total return, 1 year	−2.1%	+2.7%
Drawdown
Measure	PBD	SMOG
Below its all-time high	56.6%, high on Jan 22, 2021	24.9%, high on Jan 22, 2021
Against its benchmark
Measure	PBD	SMOG
What it tracks	Clean energy	Clean energy
Its benchmark, total return, 1 year	+16.9%	+15.0%
Against its benchmark, 1 year	behind by 19.0 pts	behind by 12.3 pts
Cost and size
Measure	PBD	SMOG
Expense ratio	0.75%	0.64%
Net assets, as of Nov 3, 2026	$99m	$126m
Holdings
Measure	PBD	SMOG
Holdings in common	21%

Method

Risk and return

Jun 22, 2007 to Oct 30, 2026 · 1,010 weekly returns

PBD SMOG

Return

Total return edge SMOG −23.5% +23.2%

Annualized edge SMOG −1.4% +1.1%

Price return edge SMOG −42.0% +2.0%

Risk

Volatility edge Tie 29.7% 30.2%

Max drawdown edge PBD (slight) −77.8% −83.8%

Downside capture 114.0% 119.9%

Beta 1.23 1.34

Risk-adjusted

Sharpe edge SMOG 0.05 0.14

Sortino edge SMOG 0.07 0.19

Treynor 0.013 0.022

Calmar edge SMOG −0.02 0.01

Against the benchmark

Alpha −4.2% a year −7.9% a year

Alpha t-stat −1.07 −2.08

Information ratio −0.17 −0.29

Tracking error 18.0% 17.4%

Each against its own benchmark: PBD against EFA, Jun 22, 2007 to Oct 30, 2026; SMOG against ACWI, Apr 4, 2008 to Oct 30, 2026.

Reading

From Jun 2007 to Oct 2026, SMOG returned more: +23.2% to −23.5%. PBD and SMOG swung about the same: 29.7% and 30.2%. PBD fell slightly less at its worst: −77.8% to −83.8%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: PBD vs SMOG: Holdings Overlap & Returns
Measure	PBD	SMOG	Edge	How it is measured
Return
Total return	−23.5%	+23.2%	SMOG	Price change plus distributions, reinvested.
Annualized	−1.4%	+1.1%	SMOG	Total return as a yearly rate.
Price return	−42.0%	+2.0%	SMOG	Price change alone, distributions left out.
Risk
Volatility	29.7%	30.2%	Tie	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	21.8%	22.1%	Tie	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−77.8%	−83.8%	PBD (slight)	Deepest fall from a high to the low after it.
Upside capture	126.1%	132.8%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	114.0%	119.9%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.23	1.34	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.66	0.70	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.05	0.14	SMOG	Return above Treasury bills per unit of volatility.
Sortino	0.07	0.19	SMOG	Return above Treasury bills per unit of downside deviation.
Treynor	0.013	0.022		Return above Treasury bills per unit of beta.
Calmar	−0.02	0.01	SMOG	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	EFA	ACWI		The ETF each fund is measured against.
Alpha	−4.2% a year	−7.9% a year	PBD not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−1.07	−2.08	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−12.0% to +3.5%	−15.3% to −0.4%	PBD includes zero	The 95% range for the yearly alpha.
Information ratio	−0.17	−0.29		Return against its benchmark per unit of tracking error.
Tracking error	18.0%	17.4%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,010 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

21%

By the books each fund has filed, PBD and SMOG hold 21% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

21% in common

Positions both hold · largest shared weight first PBD SMOG

Nibe Industrier AB 1.26% 1.61%

Samsung SDI Co Ltd 1.10% 4.13%

LG Energy Solution Ltd 1.06% 1.75%

Acciona SA 1.05% 1.19%

Nordex SE 1.04% 1.15%

Oersted AS 1.02% 1.98%

Vestas Wind Systems A/S 1.01% 4.72%

Bloom Energy Corp 1.01% 5.10%

Kingspan Group PLC 1.01% 2.99%

Rivian Automotive Inc 0.94% 2.74%

XPeng Inc 0.90% 1.42%

First Solar Inc 0.90% 2.90%

Only in one fund ↓

Only in PBD

SES AI Corp 1.38%

Lotte Energy Materials Corp 1.29%

EVgo Inc 1.21%

NFI Group Inc 1.15%

SolarEdge Technologies Inc 1.10%

Universal Display Corp 1.09%

Shoals Technologies Group Inc 1.09%

Tamura Corp 1.09%

Only in SMOG

Tesla Inc 9.28%

Iberdrola Sa 9.10%

Nextera Energy Inc 7.64%

Enel Spa 6.99%

Axia Energia Sa 2.92%

Nextpower Inc 1.87%

Owens Corning 1.53%

Li Auto Inc 1.30%

Check overlap with more funds →

Window by window

Window by window: PBD vs SMOG: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	PBD	SMOG	PBD	SMOG
3 months	−12.4%	−2.8%	−10.8 pts vs EFA	−1.5 pts vs ACWI
6 months	−27.2%	−13.7%	−29.7 pts vs EFA	−16.3 pts vs ACWI
1 year	−2.1%	+2.7%	−19.0 pts vs EFA	−12.3 pts vs ACWI
3 years	+17.1%	+40.4%	−49.7 pts vs EFA	−37.2 pts vs ACWI
Since launchNot the same days: PBD Jun 2007 · SMOG May 2007	−17.6%	+35.1%	not measured	not measured

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Side by side

PBD Invesco Global Clean Energy ETF · Holds 111 stocks in clean energy, 2% 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 Invesco VanEck

Theme Clean energy Clean energy

In the S&P 500 1.9% 20.0%

Active share vs the S&P 500 99.9% 97.8%

In the Nasdaq-100 0.0% 9.4%

Holdings 111 55

Top ten, share of the fund 12.2% 58.2%

Expense ratio 0.75% 0.64%

Fee for the differing part 0.75% 0.65%

Total return, 1 year −2.1% +2.7%

vs its benchmark −19.0 pts vs EFA −12.3 pts vs ACWI

Below its high −56.6% −24.9%

Net assets, as of Nov 3, 2026 $99m $126m

As of Nov 4, 2026. Source: ETFIQ.

21% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

PBD

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 12% of the fund across 111 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −2.1% with distributions reinvested against +16.9% for its benchmark, the MSCI EAFE Index, so a holder was behind by 19.0 pts. It sits 56.6% below its all-time high of Jan 22, 2021.

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 PBD and SMOG hold the same stocks?: By their latest filings, 21% 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, PBD or SMOG?: PBD has 2% of its weight in S&P 500 names and SMOG has 20%, so PBD differs more from the index.
Which is cheaper, PBD or SMOG?: PBD charges 0.75% a year and SMOG charges 0.64%, so SMOG is cheaper. Fees come from each fund's prospectus.

Other comparisons

PBD vs RNRG PBD vs ACES PBD vs CNRG PBD vs FAN SMOG vs CNRG SMOG vs FAN SMOG vs TAN SMOG vs VCLN

Where to next

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

Sources and dates

PBD filings on SEC EDGAR ↗

PBD prospectus with the expense ratio (SEC) ↗

Invesco page for PBD ↗

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

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