Data as of .
PBW vs VCLN: which is really different?
PBW and VCLN hold 10% of their weight in the same names, and VCLN returned more over the year.
ETFIQ Off-Index Score: VCLN 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
10% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, PBW and VCLN hold 10% of their money in the same securities at the same weight.
| Holding | PBW | VCLN |
|---|---|---|
| Ormat Technologies Inc | 1.54% | 1.81% |
| First Solar Inc | 1.52% | 6.48% |
| Bloom Energy Corp | 1.50% | 9.30% |
| Plug Power Inc | 1.46% | 3.34% |
| Enphase Energy Inc | 1.29% | 3.14% |
| Nextpower Inc | 1.27% | 7.04% |
| SolarEdge Technologies Inc | 1.17% | 1.50% |
| Array Technologies Inc | 0.97% | 0.55% |
| Only in PBW | Only in VCLN |
|---|---|
| Beta Technologies Inc 2.59% | CHINA YANGTZE POWER CO LTD 5.55% |
| Darling Ingredients Inc 2.39% | CLEARWAY ENERGY INC 4.10% |
| Cadeler A/S 2.29% | IBERDROLA SA 3.65% |
| Gevo Inc 2.15% | VESTAS WIND SYSTEMS A/S 3.60% |
| Itron Inc 2.10% | EDP SA 3.00% |
| OPAL Fuels Inc 2.04% | CERES POWER HOLDINGS PLC 2.91% |
| Gentherm Inc 2.01% | PRYSMIAN SPA 2.80% |
| Preformed Line Products Co 1.95% | MAIRE SPA 2.66% |
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 Apr 30, 2026 and Sep 19, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| PBW | VCLN | PBW | VCLN | PBW | VCLN | |
| 3 months | −25.8% | −14.7% | −28.1 pts | −16.9 pts | −23.4 pts | −12.2 pts |
| 6 months | −0.1% | +2.3% | −18.1 pts | −15.8 pts | −24.3 pts | −22.0 pts |
| 1 year | +11.1% | +23.6% | −5.5 pts | +7.1 pts | −10.7 pts | +1.9 pts |
| 3 years | −4.3% | +59.4% | −82.7 pts | −19.0 pts | −102.5 pts | −38.8 pts |
| Since launch | −25.2% | +14.2% | −828.8 pts | −72.0 pts | −1715.5 pts | −88.2 pts |
| PBW Invesco WilderHill Clean Energy ETF Holds 74 stocks in clean energy, 8% of its weight in S&P 500 companies | VCLN Virtus Duff & Phelps Clean Energy ETF Holds 41 stocks in clean energy, 14% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Invesco | Virtus |
| Theme | Clean energy | Clean energy |
| In the S&P 500 | 7.7% | 14.1% |
| Active share vs the S&P 500 | 97.9% | 98.9% |
| In the Nasdaq-100 | 3.2% | 1.7% |
| Holdings | 74 | 41 |
| Top ten, share of the fund | 21.3% | 49.2% |
| Expense ratio | 0.63% | 0.59% |
| Fee for the differing part | 0.64% | 0.60% |
| Total return, 1 year | +11.1% | +23.6% |
| vs the S&P 500 | −5.5 pts | +7.1 pts |
| vs the Nasdaq-100 | −10.7 pts | +1.9 pts |
| Below its high | −74.5% | −22.6% |
| Net assets | $363m | $6m |
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.
VCLN in plain words
By weight, 14% of VCLN'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 49% of the fund across 41 positions, as filed for Apr 30, 2026. Over the year to Sep 18, 2026 the fund returned +23.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 7.1 pts. It sits 22.6% below its all-time high of Jun 2, 2026.
Questions people ask
- Do PBW and VCLN hold the same stocks?
- By their latest filings, 10% 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, PBW or VCLN?
- PBW has 8% of its weight in S&P 500 names and VCLN has 14%, so VCLN differs more from the index.
- Which is cheaper, PBW or VCLN?
- PBW charges 0.63% a year and VCLN charges 0.59%, so VCLN 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, PBW against VCLN, data as of Sep 18, 2026. https://etfiq.com/compare/themes/pbw-vs-vcln Free to use with attribution; the underlying files are at Open data.