FRNWvsTANETF Comparison
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Fidelity Clean Energy ETF (FRNW) and Invesco Solar ETF (TAN) belong to the same industry segment: Alternative Energy. Both ETFs have the same top 3 sector exposures: Industrials, Utilities and Technology. FRNW is less expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.7% for TAN. FRNW is up 8.64% year-to-date (YTD) with +$59M in YTD flows. TAN performs worse with -4.47% YTD performance, and +$133M in YTD flows. Run a side-by-side ETF comparison of FRNW and TAN 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 TAN 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 TAN | -3.46%-8.38% | -19.06%-33.93% | +8.64%-4.47% | +26.90%+14.39% | +28.33%-18.88% | n/a-45.20% |
| Flows | FRNW TAN | --$263M | -$38M-$488M | +$59M+$133M | +$65M+$271M | +$63M-$60M | --$567M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FRNW TAN | +26.26%+39.90% | +24.34%+35.09% | +25.18%+36.25% | n/a+36.25% |
| Max drawdown | FRNW TAN | -22.22%-35.02% | -22.22%-36.40% | -32.42%-54.61% | n/a-73.61% |
| Max drawdown duration | FRNW TAN | 91d91d | 91d93d | 688d886d | n/a1765d |
Trading data
FRNW | TAN | |
Last sale 9/1/2026 at 1:30 PM | $21.85 | $47.32 |
| Previous close 09/01/2026 | $21.87 | $46.86 |
| 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 | TAN | |
|---|---|---|
| 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 | TAN | |
|---|---|---|
| Last price | $21.85 | $47.32 |
| 1D performance | -0.09% | +0.98% |
| AuM | $96.36 M | $1.01 B |
| E/R | 0.39% | 0.7% |
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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%
TAN
USA
44.51%
Israel
22.15%
China
8.15%
Other
25.19%
Sectors
FRNW
Industrials
48.41%
Utilities
46.57%
Other
5.02%
TAN
Industrials
44.91%
Utilities
34.17%
Technology
10.53%
Other
10.38%
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Diversification
FRNW
Total weight of top 15 holdings out of 15
49.01%
TAN
Total weight of top 15 holdings out of 15
73.02%
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%
TAN
Nextpower, Inc.
9.93%
First Solar, Inc.
9.73%
Enlight Renewable Energy Ltd.
7.54%
Enphase Energy, Inc.
6.29%
Doral Group Renewable Energy Resources Ltd.
4.59%
HA Sustainable Infrastructure Capital, Inc.
4.39%
SolarEdge Technologies, Inc.
4.24%
Sunrun, Inc.
4.18%
Clearway Energy, Inc.
3.54%
GCL Technology Holdings Ltd.
3.50%
OY Nofar Energy Ltd.
3.37%
Solaria Energía y Medio Ambiente SA
3.16%
Xinyi Solar Holdings Ltd.
2.95%
Shoals Technologies Group, Inc.
2.90%
SMA Solar Technology AG
2.69%
Frequently asked questions about FRNW and TAN
How have the FRNW and TAN ETFs performed in 2026?
As of September 1, 2026, FRNW is up 8.64% year-to-date (YTD), while TAN has lost -4.47%. That puts FRNW better performer ahead so far this year.
Which ETF is attracting more investor money: FRNW or TAN?
Year-to-date, the FRNW ETF saw +$59M in flows, compared to +$133M for TAN.
Which ETF is more volatile: FRNW or TAN?
Over the past year, FRNW had a volatility of 24.34%, while TAN experienced 35.09%.
Which ETF is bigger: FRNW or TAN?
As of September 1, 2026, FRNW holds $96.36 M in assets under management (AUM), while TAN manages $1.01 B.
What sectors do the FRNW and TAN ETFs invest in?
FRNW leans toward sectors like Industrials and Utilities. Meanwhile, TAN focuses on Industrials, Utilities and Technology.
What are the top holdings of the FRNW ETF and TAN ETF?
FRNW top holdings include GE Vernova, Inc., Vestas Wind Systems A/S and EDP SA. TAN holds in its top three: Nextpower, Inc., First Solar, Inc. and Enlight Renewable Energy Ltd..
Which ETF is more diversified: FRNW or TAN?
FRNW holds 50 securities with 49.01% of its assets in the top 15. TAN has 35 securities and a top 15 weight of 73.02%.
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