ICLNvsPBWETF Comparison
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iShares Global Clean Energy ETF (ICLN) and Invesco WilderHill Clean Energy ETF (PBW) belong to the same industry segment: Alternative Energy. ICLN's top 3 sector exposures are Industrials, Utilities and Technology. In contrast, PBW's top sector exposures are Industrials, Non-Energy Materials and Technology. ICLN is less expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.64% for PBW. ICLN is up 13.38% year-to-date (YTD) with +$377M in YTD flows. PBW performs worse with 11.29% YTD performance, and -$291M in YTD flows. Run a side-by-side ETF comparison of ICLN and PBW 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 PBW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/22/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ICLN PBW | -14.16%-17.98% | -6.21%-9.50% | +13.38%+11.29% | +34.23%+38.19% | +3.62%-15.10% | -13.10%-54.62% |
| Flows | ICLN PBW | -$260M-$42M | +$276M+$10M | +$377M-$291M | +$515M-$78M | -$1.04B-$142M | -$1.70B-$425M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ICLN PBW | +36.61%+49.62% | +28.10%+42.59% | +24.33%+41.12% | +26.34%+43.25% |
| Max drawdown | ICLN PBW | -23.17%-29.00% | -23.17%-29.00% | -41.79%-67.97% | -56.66%-84.50% |
| Max drawdown duration | ICLN PBW | 50d50d | 50d50d | 911d1012d | 1724d1717d |
Trading data
ICLN | PBW | |
Last sale 7/23/2026 at 1:30 PM | $18.37 | $33.22 |
| Previous close 07/22/2026 | $18.54 | $33.83 |
| Consolidated volume 07/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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ICLN | PBW | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/23/2026 at 1:30 PM
Live
Closed
ICLN | PBW | |
|---|---|---|
| Last price | $18.37 | $33.22 |
| 1D performance | -0.92% | -1.80% |
| AuM | $2.45 B | $422.85 M |
| E/R | 0.39% | 0.64% |
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Exposure
Countries
ICLN
USA
45.59%
China
18.15%
Other
36.26%
PBW
USA
80.33%
Other
19.67%
Sectors
ICLN
Industrials
56.7%
Utilities
33.46%
Technology
7.95%
Other
1.88%
PBW
Industrials
48.7%
Non-Energy Materi.
20.84%
Technology
13.52%
Consumer Cyclical.
7.97%
Other
8.97%
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Diversification
ICLN
Total weight of top 15 holdings out of 15
63.9%
PBW
Total weight of top 15 holdings out of 15
32.83%
Top 15 holdings
Data as of June 30, 2026
ICLN
Bloom Energy Corp.
14.75%
First Solar, Inc.
8.41%
Nextpower, Inc.
7.32%
China Yangtze Power Co., Ltd.
5.78%
Enphase Energy, Inc.
4.87%
Vestas Wind Systems A/S
3.11%
Plug Power, Inc.
2.85%
SolarEdge Technologies, Inc.
2.65%
Equatorial SA
2.56%
Suzlon Energy Ltd.
2.52%
EDP SA
2.25%
Chubu Electric Power Co., Inc.
2.22%
Clearway Energy, Inc.
1.60%
Ørsted A/S
1.55%
Enlight Renewable Energy Ltd.
1.46%
PBW
FuelCell Energy, Inc.
4.57%
Hyliion Holdings Corp.
2.98%
Navitas Semiconductor Corp.
2.41%
MYR Group, Inc.
2.23%
Bloom Energy Corp.
2.23%
Aspen Aerogels, Inc.
2.21%
Powell Industries, Inc.
1.92%
IonQ, Inc.
1.85%
Preformed Line Products Co.
1.85%
Shoals Technologies Group, Inc.
1.84%
Bel Fuse, Inc.
1.81%
Ballard Power Systems, Inc.
1.80%
ioneer Ltd.
1.80%
D-Wave Quantum, Inc.
1.73%
First Solar, Inc.
1.61%
Frequently asked questions about ICLN and PBW
How have the ICLN and PBW ETFs performed in 2026?
As of July 22, 2026, ICLN is up 13.38% year-to-date (YTD), while PBW has returned 11.29%. That puts ICLN better performer ahead so far this year.
Which ETF is attracting more investor money: ICLN or PBW?
Year-to-date, the ICLN ETF saw +$377M in flows, compared to -$291M for PBW.
Which ETF is more volatile: ICLN or PBW?
Over the past year, ICLN had a volatility of 28.1%, while PBW experienced 42.59%.
Which ETF is bigger: ICLN or PBW?
As of July 22, 2026, ICLN holds $2.45 B in assets under management (AUM), while PBW manages $422.85 M.
What sectors do the ICLN and PBW ETFs invest in?
ICLN leans toward sectors like Industrials, Utilities and Technology. Meanwhile, PBW focuses on Industrials, Non-Energy Materials and Technology.
What are the top holdings of the ICLN ETF and PBW ETF?
ICLN top holdings include Bloom Energy Corp., First Solar, Inc. and Nextpower, Inc.. PBW holds in its top three: FuelCell Energy, Inc., Hyliion Holdings Corp. and Navitas Semiconductor Corp..
Which ETF is more diversified: ICLN or PBW?
ICLN holds 104 securities with 63.9% of its assets in the top 15. PBW has 68 securities and a top 15 weight of 32.83%.
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