Data as of .
PBD vs TAN: which is really different?
PBD and TAN hold 18% of their weight in the same names, and PBD returned more over the year.
ETFIQ Off-Index Score: TAN 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
18% 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 TAN hold 18% of their money in the same securities at the same weight.
| Holding | PBD | TAN |
|---|---|---|
| SolarEdge Technologies Inc | 1.04% | 3.86% |
| Solaria Energia y Medio Ambiente SA | 1.02% | 3.42% |
| Scatec ASA | 0.98% | 2.06% |
| SMA Solar Technology AG | 0.95% | 3.02% |
| Grenergy Renovables SA | 0.90% | 2.16% |
| Xinyi Energy Holdings Ltd | 0.96% | 0.90% |
| Motech Industries Inc | 0.89% | 0.91% |
| Xinyi Solar Holdings Ltd | 0.88% | 2.78% |
| Shoals Technologies Group Inc | 0.88% | 2.85% |
| Energix-Renewable Energies Ltd | 0.87% | 2.14% |
| West Holdings Corp | 0.86% | 1.20% |
| Enlight Renewable Energy Ltd | 0.85% | 8.19% |
| Only in PBD | Only in TAN |
|---|---|
| Doosan Fuel Cell Co Ltd 1.34% | Nextpower Inc 8.84% |
| Lotte Energy Materials Corp 1.22% | Doral Group Renewable Energy Resources Ltd 4.68% |
| Bloom Energy Corp 1.13% | GCL Technology Holdings Ltd 4.35% |
| CS Wind Corp 1.09% | Clearway Energy Inc 3.64% |
| Verbund AG 1.06% | T1 Energy Inc 2.00% |
| Mercury NZ Ltd 1.05% | United Renewable Energy Co Ltd/Taiwan 1.85% |
| Nibe Industrier AB 1.05% | Daqo New Energy Corp 1.68% |
| Samsung SDI Co Ltd 1.05% | HD Hyundai Energy Solutions Co Ltd 1.57% |
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 | TAN | PBD | TAN | PBD | TAN | |
| 3 months | −14.9% | −24.6% | −17.1 pts | −26.9 pts | −12.4 pts | −22.1 pts |
| 6 months | −0.8% | −17.2% | −18.8 pts | −35.2 pts | −25.0 pts | −41.5 pts |
| 1 year | +17.0% | +6.7% | +0.4 pts | −9.9 pts | −4.8 pts | −15.1 pts |
| 3 years | +12.7% | −15.9% | −65.7 pts | −94.3 pts | −85.5 pts | −114.0 pts |
| Since launch | +32.1% | −41.6% | −771.4 pts | −845.2 pts | −1658.1 pts | −1731.9 pts |
| PBD Invesco Global Clean Energy ETF Holds 124 stocks in clean energy, 2% 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 | Invesco | Invesco |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 1.7% | 9.8% |
| Active share vs the S&P 500 | 99.9% | 100.0% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 124 | 45 |
| Top ten, share of the fund | 11.1% | 58.0% |
| Expense ratio | 0.75% | 0.70% |
| Fee for the differing part | 0.75% | 0.70% |
| Total return, 1 year | +17.0% | +6.7% |
| vs the S&P 500 | +0.4 pts | −9.9 pts |
| vs the Nasdaq-100 | −4.8 pts | −15.1 pts |
| Below its high | −52.6% | −62.3% |
| Net assets | $118m | $953m |
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.
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 PBD and TAN hold the same stocks?
- By their latest filings, 18% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, PBD or TAN?
- PBD has 2% of its weight in S&P 500 names and TAN has 10%, so TAN differs more from the index.
- Which is cheaper, PBD or TAN?
- PBD charges 0.75% a year and TAN charges 0.70%, so TAN 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 TAN, data as of Sep 18, 2026. https://etfiq.com/compare/themes/pbd-vs-tan Free to use with attribution; the underlying files are at Open data.