ICLNvsFRNWETF Comparison
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iShares Global Clean Energy ETF (ICLN) and Fidelity Clean Energy ETF (FRNW) belong to the same industry segment: Alternative Energy. Both ETFs have the same top 3 sector exposures: Industrials, Utilities and Technology. ICLN is less expensive with a Total Expense Ratio (TER) of 0.38%, versus 0.39% for FRNW. ICLN is up 11.64% year-to-date (YTD) with +$72M in YTD flows. FRNW performs better with 13.56% YTD performance, and +$59M in YTD flows. Run a side-by-side ETF comparison of ICLN and FRNW 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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ICLN vs FRNW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ICLN FRNW | +1.32%+0.74% | -12.83%-9.14% | +11.64%+13.56% | +26.60%+27.64% | +23.70%+40.21% | -14.99%n/a |
| Flows | ICLN FRNW | +$12M- | -$573M-$41M | +$72M+$59M | +$198M+$65M | -$1.21B+$63M | -$2.07B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ICLN FRNW | +32.74%+25.05% | +28.89%+24.38% | +24.59%+25.22% | +26.58%n/a |
| Max drawdown | ICLN FRNW | -21.80%-14.96% | -28.47%-22.22% | -31.13%-31.56% | -56.66%n/a |
| Max drawdown duration | ICLN FRNW | 78d78d | 98d98d | 631d676d | 1772dn/a |
Trading data
ICLN | FRNW | |
Last sale 9/9/2026 at 2:14 PM | $18.27 | $22.82 |
| Previous close 09/08/2026 | $18.31 | $22.21 |
| Consolidated volume 09/08/2026 | ||
| 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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ICLN | FRNW | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
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Main metrics
Last update 9/9/2026 at 2:14 PM
Live
Closed
ICLN | FRNW | |
|---|---|---|
| Last price | $18.27 | $22.82 |
| 1D performance | -0.22% | +2.75% |
| AuM | $2.10 B | $100.72 M |
| E/R | 0.38% | 0.39% |
Exposure
Countries
ICLN
USA
36.76%
China
22.42%
Other
40.81%
FRNW
USA
32.96%
China
9.61%
Denmark
9.53%
Spain
7.69%
Germany
7.25%
Other
32.96%
Sectors
ICLN
Industrials
48.56%
Utilities
41.75%
Technology
7.31%
Other
2.39%
FRNW
Industrials
48.41%
Utilities
46.57%
Other
5.02%
Diversification
ICLN
Total weight of top 15 holdings out of 15
59.72%
FRNW
Total weight of top 15 holdings out of 15
49.01%
Top 15 holdings
Data as of July 31, 2026
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%
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%
Frequently asked questions about ICLN and FRNW
How have the ICLN and FRNW ETFs performed in 2026?
As of September 8, 2026, ICLN is up 11.64% year-to-date (YTD), while FRNW has returned 13.56%. That puts FRNW better performer ahead so far this year.
Which ETF is attracting more investor money: ICLN or FRNW?
Year-to-date, the ICLN ETF saw +$72M in flows, compared to +$59M for FRNW.
Which ETF is more volatile: ICLN or FRNW?
Over the past year, ICLN had a volatility of 28.89%, while FRNW experienced 24.38%.
Which ETF is bigger: ICLN or FRNW?
As of September 8, 2026, ICLN holds $2.10 B in assets under management (AUM), while FRNW manages $100.72 M.
What sectors do the ICLN and FRNW ETFs invest in?
ICLN leans toward sectors like Industrials, Utilities and Technology. Meanwhile, FRNW focuses on Industrials and Utilities.
What are the top holdings of the ICLN ETF and FRNW ETF?
ICLN top holdings include China Yangtze Power Co., Ltd., First Solar, Inc. and Nextpower, Inc.. FRNW holds in its top three: GE Vernova, Inc., Vestas Wind Systems A/S and EDP SA.
Which ETF is more diversified: ICLN or FRNW?
ICLN holds 104 securities with 59.72% of its assets in the top 15. FRNW has 50 securities and a top 15 weight of 49.01%.
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