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 Consumer Cyclicals. ICLN is less expensive with a Total Expense Ratio (TER) of 0.38%, versus 0.63% for PBW. ICLN is up 8.67% year-to-date (YTD) with +$89M in YTD flows. PBW performs worse with 4.62% YTD performance, and -$299M 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 09/04/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ICLN PBW | -3.85%-8.06% | -22.88%-30.06% | +8.67%+4.62% | +25.31%+29.68% | +17.53%-8.75% | -18.71%-56.70% |
| Flows | ICLN PBW | -$191M-$37M | -$487M-$75M | +$89M-$299M | +$215M-$83M | -$1.19B-$113M | -$2.06B-$352M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ICLN PBW | +35.01%+47.88% | +28.80%+43.71% | +24.53%+41.45% | +26.56%+43.41% |
| Max drawdown | ICLN PBW | -26.70%-34.31% | -28.47%-36.09% | -31.13%-62.05% | -56.66%-84.50% |
| Max drawdown duration | ICLN PBW | 92d92d | 94d94d | 631d771d | 1768d1761d |
Trading data
ICLN | PBW | |
Last sale 9/8/2026 at 6:16 PM | $18.44 | $32.55 |
| Previous close 09/04/2026 | $17.77 | $31.79 |
| Consolidated volume 09/04/2026 | ||
| 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 | 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 9/8/2026 at 6:16 PM
Live
Closed
ICLN | PBW | |
|---|---|---|
| Last price | $18.44 | $32.55 |
| 1D performance | +3.74% | +2.39% |
| AuM | $2.06 B | $392.44 M |
| E/R | 0.38% | 0.63% |
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Exposure
Countries
ICLN
USA
36.76%
China
22.42%
Other
40.81%
PBW
USA
74.67%
Other
25.33%
Sectors
ICLN
Industrials
48.56%
Utilities
41.75%
Technology
7.31%
Other
2.39%
PBW
Industrials
41.3%
Non-Energy Materi.
22.94%
Consumer Cyclical.
11.97%
Technology
11.23%
Utilities
7.2%
Other
5.36%
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Diversification
ICLN
Total weight of top 15 holdings out of 15
59.72%
PBW
Total weight of top 15 holdings out of 15
30.06%
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%
PBW
Itron, Inc.
2.40%
Gentherm, Inc.
2.39%
OPAL Fuels, Inc.
2.27%
Darling Ingredients, Inc.
2.17%
BETA Technologies, Inc.
2.12%
Rivian Automotive, Inc.
2.07%
AXIA Energia SA
2.01%
Gevo, Inc.
2.01%
Cadeler A/S
1.92%
REX American Resources Corp.
1.89%
XPeng, Inc.
1.88%
NIO, Inc.
1.81%
Canadian Solar, Inc.
1.77%
Universal Display Corp.
1.68%
Sociedad Quimica y Minera de Chile SA
1.68%
Frequently asked questions about ICLN and PBW
How have the ICLN and PBW ETFs performed in 2026?
As of September 4, 2026, ICLN is up 8.67% year-to-date (YTD), while PBW has returned 4.62%. 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 +$89M in flows, compared to -$299M for PBW.
Which ETF is more volatile: ICLN or PBW?
Over the past year, ICLN had a volatility of 28.8%, while PBW experienced 43.71%.
Which ETF is bigger: ICLN or PBW?
As of September 4, 2026, ICLN holds $2.06 B in assets under management (AUM), while PBW manages $392.44 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 Consumer Cyclicals.
What are the top holdings of the ICLN ETF and PBW ETF?
ICLN top holdings include China Yangtze Power Co., Ltd., First Solar, Inc. and Nextpower, Inc.. PBW holds in its top three: Itron, Inc., Gentherm, Inc. and OPAL Fuels, Inc..
Which ETF is more diversified: ICLN or PBW?
ICLN holds 104 securities with 59.72% of its assets in the top 15. PBW has 72 securities and a top 15 weight of 30.06%.
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