Do PCLN and USNZ hold the same stocks?

By their latest filings, 9% 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, PCLN or USNZ?

PCLN has 59% of its weight in S&P 500 names and USNZ has 98%, so PCLN differs more from the index.

Which is cheaper, PCLN or USNZ?

PCLN charges 0.70% a year and USNZ charges 0.10%, so USNZ is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

PCLN vs USNZ: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, PCLN returned +15.5% to USNZ's +14.0%; 9% of their weight is in the same names.

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Net assets: $18m on Jun 30, 2026 for Pictet Cleaner Planet ETF, and $291m on Nov 2, 2026 for Xtrackers Net Zero Pathway Paris Aligned US Equity ETF.

PCLN on its own →USNZ on its own →

At a glance

59.1%

PCLN in the S&P 500

97.7%

USNZ in the S&P 500

+15.5%

PCLN total return, 1 year

+14.0%

USNZ total return, 1 year

PCLN · 1 year to Nov 4, 2026 41% of its weight is outside the S&P 500

59% of PCLN's weight is in S&P 500 companies and 41% is outside the index. Holdings as of Jun 30, 2026.

USNZ · 1 year to Nov 4, 2026 2% of its weight is outside the S&P 500

98% of USNZ's weight is in S&P 500 companies and 2% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

USNZ costs 0.60 points a year less; their one-year returns differ by 1.5 points.

Points (pts) are percentage points.

PCLN vs USNZ: Holdings Overlap & Returns
Measure	PCLN	USNZ
Return
Measure	PCLN	USNZ
Total return, 1 year	+15.5%	+14.0%
Drawdown
Measure	PCLN	USNZ
Below its all-time high	14.3%, high on Jun 22, 2026
Against its benchmark
Measure	PCLN	USNZ
What it tracks	Energy transition and decarbonisation	Energy transition and decarbonisation
Against the S&P 500, 1 year		behind by 0.8 pts
Its benchmark, total return, 1 year	+15.0%	+14.8%
Against its benchmark, 1 year		behind by 0.8 pts
Cost and size
Measure	PCLN	USNZ
Expense ratio	0.70%	0.10%
Net assets, PCLN as of Jun 30, 2026 and USNZ as of Nov 2, 2026	$18m	$291m
Holdings
Measure	PCLN	USNZ
Holdings in common	9%
Top ten holdings, share of the fund	39%	44%

ETFIQ S&P 500 Difference Score · PCLN scores higher How much of its weight does it not share with the S&P 500?

IQ Themes Score58.3PCLN0.4USNZ

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

PCLN 58.3

USNZ 0.4

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

What they share

By the books each fund has filed, PCLN and USNZ hold 9% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.

50%

0 half 100%

half

9% in common

Positions both hold · largest shared weight first PCLN USNZ

BROADCOM INC 2.74% 3.02%

NVIDIA CORP 1.05% 9.83%

LAM RESEARCH CORP 2.23% 0.66%

APPLIED MATERIALS INC 6.55% 0.63%

THERMO FISHER SCIENTIFIC INC 0.85% 0.46%

KLA CORP 1.52% 0.42%

ARISTA NETWORKS INC 1.08% 0.41%

ANALOG DEVICES INC 1.80% 0.36%

MARVELL TECHNOLOGY INC 2.85% 0.34%

VERTIV HOLDINGS CO-A 1.89% 0.21%

WASTE MANAGEMENT INC 0.59% 0.21%

DIGITAL REALTY TRUST INC 0.51% 0.19%

Only in one fund ↓

Only in PCLN

ASML HOLDING NV /EUR 5.55%

TAIWAN SEMICONDUCTOR-SP ADR 4.79%

INFINEON TECHNOLOGIES AG /EUR 3.20%

SCHNEIDER ELEC SA /EUR 2.99%

REPUBLIC SERVICES INC 2.78%

IBERDROLA SA /EUR 2.57%

CONTEMPORARY AMPEREX TEC /HKD 2.23%

XYLEM INC 1.89%

Only in USNZ

APPLE INC 8.64%

MICROSOFT CORP 6.85%

AMAZON.COM INC 3.95%

ALPHABET INC 3.54%

ALPHABET INC 2.98%

META PLATFORMS INC 2.07%

TESLA INC 1.82%

MICRON TECHNOLOGY INC 1.76%

Check overlap with more funds →

Window by window

Window by window: PCLN vs USNZ: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	PCLN	USNZ	PCLN	USNZ
3 months	−8.7%	−0.4%	−7.4 pts vs ACWI	−0.3 pts vs VOO
6 months	−5.1%	+5.4%	−7.7 pts vs ACWI	+0.4 pts vs VOO
1 year	+15.5%	+14.0%	+0.5 pts vs ACWI	−0.8 pts vs VOO
3 years	–	+79.9%	–	−3.4 pts vs VOO
Since launchNot the same days: PCLN Oct 2025 · USNZ Jun 2022	+14.6%	+108.7%	−1.9 pts vs ACWI	−5.2 pts vs VOO

– means no data for this window. Open this comparison in the app →

Side by side

PCLN Pictet Cleaner Planet ETF · Holds 66 stocks in energy transition and decarbonisation, 59% of its weight in S&P 500 companies USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF · Holds 297 stocks in energy transition and decarbonisation, 98% of its weight in S&P 500 companies

Issuer Pictet Xtrackers

Theme Energy transition and decarbonisation Energy transition and decarbonisation

In the S&P 500 59.1% 97.7%

Active share vs the S&P 500 89.5% 24.1%

In the Nasdaq-100 28.7% 61.6%

Holdings 66 297

Top ten, share of the fund 38.6% 44.5%

Expense ratio 0.70% 0.10%

Fee for the differing part 0.78% 0.41%

Total return, 1 year +15.5% +14.0%

vs its benchmark +0.5 pts vs ACWI −0.8 pts vs VOO

Below its high −14.3% −2.3%

Net assets, PCLN as of Jun 30, 2026 and USNZ as of Nov 2, 2026 $18m $291m

As of Nov 4, 2026. Source: ETFIQ.

9% of the two portfolios are the same securities at the same weight.

Alert

About each fund

PCLN

By weight, 59% of PCLN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 90%. The top ten holdings are 39% of the fund across 66 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +15.5% with distributions reinvested against +15.0% for its benchmark, the MSCI All Country World Index, so a holder was about even. It sits 14.3% below its all-time high of Jun 22, 2026.

USNZ

By weight, 98% of USNZ's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 24%. The top ten holdings are 44% of the fund across 297 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned +14.0% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 0.8 pts.

Questions people ask

Do PCLN and USNZ hold the same stocks?: By their latest filings, 9% 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, PCLN or USNZ?: PCLN has 59% of its weight in S&P 500 names and USNZ has 98%, so PCLN differs more from the index.
Which is cheaper, PCLN or USNZ?: PCLN charges 0.70% a year and USNZ charges 0.10%, so USNZ is cheaper. Fees come from each fund's prospectus.

Other comparisons

PCLN vs PWER PCLN vs ETHO PCLN vs IQSZ PCLN vs EVX USNZ vs ETEC USNZ vs EVX USNZ vs IQSZ USNZ vs ETHO

Where to next

PCLN on its own →USNZ on its own →PCLN dividend history →PCLN holdings →USNZ dividend history →USNZ holdings →Method →Standards and sources →

Sources and dates

PCLN filings on SEC EDGAR ↗

PCLN prospectus with the expense ratio (SEC) ↗

Pictet website ↗

USNZ filings on SEC EDGAR ↗

USNZ prospectus with the expense ratio (SEC) ↗

Xtrackers website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

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, PCLN against USNZ, data as of Nov 4, 2026. https://etfiq.com/compare/themes/pcln-vs-usnz

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