FRNWvsICLNETF Comparison
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Fidelity Clean Energy ETF (FRNW) and iShares Global Clean Energy ETF (ICLN) belong to the same industry segment: Alternative Energy. Both ETFs have the same top 3 sector exposures: Industrials, Utilities and Technology. FRNW is more expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.38% for ICLN. FRNW is up 8.64% year-to-date (YTD) with +$59M in YTD flows. ICLN performs worse with 5.69% YTD performance, and +$235M in YTD flows. Run a side-by-side ETF comparison of FRNW and ICLN below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FRNW vs ICLN performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FRNW ICLN | -3.46%-4.25% | -19.06%-24.65% | +8.64%+5.69% | +26.90%+23.37% | +28.33%+12.56% | n/a-21.52% |
| Flows | FRNW ICLN | --$126M | -$38M-$201M | +$59M+$235M | +$65M+$361M | +$63M-$1.04B | --$1.91B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FRNW ICLN | +26.26%+35.52% | +24.34%+28.82% | +25.18%+24.55% | n/a+26.56% |
| Max drawdown | FRNW ICLN | -22.22%-28.47% | -22.22%-28.47% | -32.42%-32.05% | n/a-56.66% |
| Max drawdown duration | FRNW ICLN | 91d91d | 91d91d | 688d757d | n/a1765d |
Trading data
FRNW | ICLN | |
Last sale 9/1/2026 at 1:30 PM | $21.85 | $17.24 |
| Previous close 09/01/2026 | $21.87 | $17.30 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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FRNW | ICLN | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
FRNW | ICLN | |
|---|---|---|
| Last price | $21.85 | $17.24 |
| 1D performance | -0.09% | -0.35% |
| AuM | $96.36 M | $2.14 B |
| E/R | 0.39% | 0.38% |
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Exposure
Countries
FRNW
USA
32.96%
China
9.61%
Denmark
9.53%
Spain
7.69%
Germany
7.25%
Other
32.96%
ICLN
USA
36.76%
China
22.42%
Other
40.81%
Sectors
FRNW
Industrials
48.41%
Utilities
46.57%
Other
5.02%
ICLN
Industrials
48.56%
Utilities
41.75%
Technology
7.31%
Other
2.39%
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Diversification
FRNW
Total weight of top 15 holdings out of 15
49.01%
ICLN
Total weight of top 15 holdings out of 15
59.72%
Top 15 holdings
Data as of July 31, 2026
FRNW
GE Vernova, Inc.
5.47%
Vestas Wind Systems A/S
4.82%
EDP SA
4.11%
First Solar, Inc.
3.56%
Enlight Renewable Energy Ltd.
3.48%
Itron, Inc.
3.17%
Ørsted A/S
3.16%
Nextpower, Inc.
2.99%
Acciona SA
2.84%
Bloom Energy Corp.
2.80%
VERBUND AG
2.69%
Nordex SE
2.55%
E.ON SE
2.53%
Meridian Energy Ltd.
2.50%
Northland Power, Inc.
2.34%
ICLN
China Yangtze Power Co., Ltd.
7.92%
First Solar, Inc.
7.85%
Nextpower, Inc.
7.54%
Bloom Energy Corp.
6.96%
Enphase Energy, Inc.
4.56%
Vestas Wind Systems A/S
3.65%
Equatorial SA
3.30%
Plug Power, Inc.
2.70%
EDP SA
2.68%
Chubu Electric Power Co., Inc.
2.46%
SolarEdge Technologies, Inc.
2.35%
Enlight Renewable Energy Ltd.
2.22%
Suzlon Energy Ltd.
2.00%
Clearway Energy, Inc.
1.91%
Ørsted A/S
1.62%
Frequently asked questions about FRNW and ICLN
How have the FRNW and ICLN ETFs performed in 2026?
As of September 1, 2026, FRNW is up 8.64% year-to-date (YTD), while ICLN has returned 5.69%. That puts FRNW better performer ahead so far this year.
Which ETF is attracting more investor money: FRNW or ICLN?
Year-to-date, the FRNW ETF saw +$59M in flows, compared to +$235M for ICLN.
Which ETF is more volatile: FRNW or ICLN?
Over the past year, FRNW had a volatility of 24.34%, while ICLN experienced 28.82%.
Which ETF is bigger: FRNW or ICLN?
As of September 1, 2026, FRNW holds $96.36 M in assets under management (AUM), while ICLN manages $2.14 B.
What sectors do the FRNW and ICLN ETFs invest in?
FRNW leans toward sectors like Industrials and Utilities. Meanwhile, ICLN focuses on Industrials, Utilities and Technology.
What are the top holdings of the FRNW ETF and ICLN ETF?
FRNW top holdings include GE Vernova, Inc., Vestas Wind Systems A/S and EDP SA. ICLN holds in its top three: China Yangtze Power Co., Ltd., First Solar, Inc. and Nextpower, Inc..
Which ETF is more diversified: FRNW or ICLN?
FRNW holds 50 securities with 49.01% of its assets in the top 15. ICLN has 104 securities and a top 15 weight of 59.72%.
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