Data as of .
PCLN vs USNZ: which is really different?
PCLN and USNZ hold 9% of their weight in the same names.
ETFIQ Off-Index Score: PCLN 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
9% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, PCLN and USNZ hold 9% of their money in the same securities at the same weight.
| Holding | PCLN | USNZ |
|---|---|---|
| BROADCOM INC | 2.75% | 3.37% |
| NVIDIA CORP | 1.05% | 9.67% |
| LAM RESEARCH CORP | 2.23% | 0.74% |
| APPLIED MATERIALS INC | 6.57% | 0.67% |
| KLA CORP | 1.52% | 0.50% |
| MARVELL TECHNOLOGY INC | 2.86% | 0.43% |
| ANALOG DEVICES INC | 1.81% | 0.42% |
| THERMO FISHER SCIENTIFIC INC | 0.85% | 0.35% |
| ARISTA NETWORKS INC | 1.09% | 0.35% |
| VERTIV HOLDINGS CO-A | 1.89% | 0.30% |
| MONOLITHIC POWER SYSTEMS INC | 0.40% | 0.23% |
| WASTE MANAGEMENT INC | 0.59% | 0.20% |
| Only in PCLN | Only in USNZ |
|---|---|
| ASML HOLDING NV /EUR/ 5.57% | APPLE INC 8.72% |
| TAIWAN SEMICONDUCTOR-SP ADR 4.81% | MICROSOFT CORP 6.40% |
| INFINEON TECHNOLOGIES AG /EUR/ 3.21% | AMAZON.COM INC 4.15% |
| SCHNEIDER ELEC SA /EUR/ 3.00% | ALPHABET INC 4.02% |
| REPUBLIC SERVICES INC 2.79% | ALPHABET INC 3.38% |
| IBERDROLA SA /EUR/ 2.58% | META PLATFORMS INC 2.39% |
| NXP SEMICONDUCTORS NV 2.56% | TESLA INC 2.06% |
| CONTEMPORARY AMPEREX TEC /HKD/ 2.24% | MICRON TECHNOLOGY INC 1.91% |
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 Jun 30, 2026 and May 29, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| PCLN | USNZ | PCLN | USNZ | PCLN | USNZ | |
| 3 months | −11.4% | +2.5% | −13.7 pts | +0.3 pts | −8.9 pts | +5.0 pts |
| 6 months | +16.9% | +21.1% | −1.1 pts | +3.1 pts | −7.4 pts | −3.1 pts |
| 1 year | not published | +16.8% | not published | +0.2 pts | not published | −5.0 pts |
| 3 years | not published | +77.0% | not published | −1.4 pts | not published | −21.2 pts |
| Since launch | +17.4% | +108.4% | +0.8 pts | −3.2 pts | −3.3 pts | −52.3 pts |
| 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 306 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 | 59.3% | 97.9% |
| Active share vs the S&P 500 | 89.4% | 23.0% |
| In the Nasdaq-100 | 28.8% | 62.8% |
| Holdings | 66 | 306 |
| Top ten, share of the fund | 38.7% | 46.1% |
| Expense ratio | 0.70% | 0.10% |
| Fee for the differing part | 0.78% | 0.43% |
| Total return, 1 year | +17.4% (since launch on Oct 16, 2025) | +16.8% |
| vs the S&P 500 | +0.8 pts | +0.2 pts |
| vs the Nasdaq-100 | −3.3 pts | −5.0 pts |
| Below its high | −12.2% | −1.4% |
| Net assets | $18m | $298m |
PCLN in plain words
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 89%. The top ten holdings are 39% of the fund across 66 positions, as filed for Jun 30, 2026. Since it launched on Oct 16, 2025 the fund returned +17.4% with distributions reinvested against +16.5% for the S&P 500, so a holder was ahead by 0.8 pts. It sits 12.2% below its all-time high of Jun 22, 2026.
USNZ in plain words
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 23%. The top ten holdings are 46% of the fund across 306 positions, as filed for May 29, 2026. Over the year to Sep 18, 2026 the fund returned +16.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was about even.
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, 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, 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
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, PCLN against USNZ, data as of Sep 18, 2026. https://etfiq.com/compare/themes/pcln-vs-usnz Free to use with attribution; the underlying files are at Open data.