PBWvsICLNETF Comparison
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Invesco WilderHill Clean Energy ETF (PBW) and iShares Global Clean Energy ETF (ICLN) belong to the same industry segment: Alternative Energy. PBW's top 3 sector exposures are Industrials, Non-Energy Materials and Technology. In contrast, ICLN's top sector exposures are Industrials, Utilities and Technology. PBW is more expensive with a Total Expense Ratio (TER) of 0.63%, versus 0.38% for ICLN. PBW is down -18.46% year-to-date (YTD) with -$324M in YTD flows. ICLN performs better with -1.96% YTD performance, and +$281M in YTD flows. Run a side-by-side ETF comparison of PBW 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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PBW vs ICLN performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PBW ICLN | -19.32%-7.78% | -25.46%-12.80% | -18.46%-1.96% | -22.53%-0.65% | -0.07%+26.41% | -66.91%-28.11% |
| Flows | PBW ICLN | -$3M+$105M | -$33M-$96M | -$324M+$281M | -$217M+$390M | -$136M-$855M | -$401M-$1.98B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBW ICLN | +37.23%+25.15% | +42.12%+29.24% | +41.22%+24.49% | +43.37%+26.59% |
| Max drawdown | PBW ICLN | -29.34%-13.25% | -46.97%-32.10% | -54.99%-32.10% | -84.50%-56.66% |
| Max drawdown duration | PBW ICLN | 68d80d | 143d143d | 644d143d | 1810d1817d |
Trading data
PBW | ICLN | |
Last sale 10/23/2026 at 1:30 PM | $24.56 | $16.02 |
| Previous close 10/23/2026 | $24.54 | $16.17 |
| Consolidated volume 10/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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PBW | 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 10/23/2026 at 1:30 PM
Live
Closed
PBW | ICLN | |
|---|---|---|
| Last price | $24.56 | $16.02 |
| 1D performance | +0.08% | -0.93% |
| AuM | $283.99 M | $2.03 B |
| E/R | 0.63% | 0.38% |
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Exposure
Countries
PBW
USA
76.66%
Other
23.34%
ICLN
USA
35.79%
China
22.2%
Other
42.01%
Sectors
PBW
Industrials
42.5%
Non-Energy Materi.
25.6%
Technology
11.01%
Consumer Cyclical.
10.61%
Other
10.28%
ICLN
Industrials
49.97%
Utilities
40.84%
Other
9.2%
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Diversification
PBW
Total weight of top 15 holdings out of 15
30.12%
ICLN
Total weight of top 15 holdings out of 15
59.42%
Top 15 holdings
Data as of August 31, 2026
PBW
BETA Technologies, Inc.
2.54%
OPAL Fuels, Inc.
2.18%
Itron, Inc.
2.16%
Gevo, Inc.
2.15%
Cadeler A/S
2.15%
Darling Ingredients, Inc.
2.10%
Gentherm, Inc.
2.08%
Archer Aviation, Inc.
1.99%
Rivian Automotive, Inc.
1.97%
Lifezone Metals Ltd.
1.88%
Preformed Line Products Co.
1.86%
Sociedad Quimica y Minera de Chile SA
1.85%
MP Materials Corp.
1.78%
Sigma Lithium Corp.
1.72%
REX American Resources Corp.
1.70%
ICLN
First Solar, Inc.
7.87%
China Yangtze Power Co., Ltd.
7.75%
Bloom Energy Corp.
7.09%
Nextpower, Inc.
6.53%
Vestas Wind Systems A/S
4.57%
Enphase Energy, Inc.
4.55%
Equatorial SA
3.13%
EDP SA
2.91%
Plug Power, Inc.
2.85%
Chubu Electric Power Co., Inc.
2.67%
Suzlon Energy Ltd.
2.06%
Enlight Renewable Energy Ltd.
2.06%
Clearway Energy, Inc.
1.96%
SolarEdge Technologies, Inc.
1.85%
Ørsted A/S
1.57%
Frequently asked questions about PBW and ICLN
How have the PBW and ICLN ETFs performed in 2026?
As of October 23, 2026, PBW is down -18.46% year-to-date (YTD), while ICLN has lost -1.96%. That puts ICLN better performer ahead so far this year.
Which ETF is attracting more investor money: PBW or ICLN?
Year-to-date, the PBW ETF saw -$324M in flows, compared to +$281M for ICLN.
Which ETF is more volatile: PBW or ICLN?
Over the past year, PBW had a volatility of 42.12%, while ICLN experienced 29.24%.
Which ETF is bigger: PBW or ICLN?
As of October 23, 2026, PBW holds $283.99 M in assets under management (AUM), while ICLN manages $2.03 B.
What sectors do the PBW and ICLN ETFs invest in?
PBW leans toward sectors like Industrials, Non-Energy Materials and Technology. Meanwhile, ICLN focuses on Industrials and Utilities.
What are the top holdings of the PBW ETF and ICLN ETF?
PBW top holdings include BETA Technologies, Inc., OPAL Fuels, Inc. and Itron, Inc.. ICLN holds in its top three: First Solar, Inc., China Yangtze Power Co., Ltd. and Bloom Energy Corp..
Which ETF is more diversified: PBW or ICLN?
PBW holds 71 securities with 30.12% of its assets in the top 15. ICLN has 103 securities and a top 15 weight of 59.42%.
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