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 Consumer Cyclicals. 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 up 4.62% year-to-date (YTD) with -$299M in YTD flows. ICLN performs better with 8.67% YTD performance, and +$89M 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 09/04/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PBW ICLN | -8.06%-3.85% | -30.06%-22.88% | +4.62%+8.67% | +29.68%+25.31% | -8.75%+17.53% | -56.70%-18.71% |
| Flows | PBW ICLN | -$37M-$191M | -$75M-$487M | -$299M+$89M | -$83M+$215M | -$113M-$1.19B | -$352M-$2.06B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBW ICLN | +47.88%+35.01% | +43.71%+28.80% | +41.45%+24.53% | +43.41%+26.56% |
| Max drawdown | PBW ICLN | -34.31%-26.70% | -36.09%-28.47% | -62.05%-31.13% | -84.50%-56.66% |
| Max drawdown duration | PBW ICLN | 92d92d | 94d94d | 771d631d | 1761d1768d |
Trading data
PBW | ICLN | |
Last sale 9/4/2026 at 1:30 PM | $31.79 | $17.77 |
| Previous close 09/03/2026 | $31.54 | $17.63 |
| Consolidated volume 09/03/2026 | ||
| 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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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 9/4/2026 at 1:30 PM
Live
Closed
PBW | ICLN | |
|---|---|---|
| Last price | $31.79 | $17.77 |
| 1D performance | +0.79% | +0.79% |
| AuM | $392.44 M | $2.06 B |
| E/R | 0.63% | 0.38% |
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Exposure
Countries
PBW
USA
74.67%
Other
25.33%
ICLN
USA
36.76%
China
22.42%
Other
40.81%
Sectors
PBW
Industrials
41.3%
Non-Energy Materi.
22.94%
Consumer Cyclical.
11.97%
Technology
11.23%
Utilities
7.2%
Other
5.36%
ICLN
Industrials
48.56%
Utilities
41.75%
Technology
7.31%
Other
2.39%
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Diversification
PBW
Total weight of top 15 holdings out of 15
30.06%
ICLN
Total weight of top 15 holdings out of 15
59.72%
Top 15 holdings
Data as of July 31, 2026
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%
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%
Frequently asked questions about PBW and ICLN
How have the PBW and ICLN ETFs performed in 2026?
As of September 4, 2026, PBW is up 4.62% year-to-date (YTD), while ICLN has returned 8.67%. 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 -$299M in flows, compared to +$89M for ICLN.
Which ETF is more volatile: PBW or ICLN?
Over the past year, PBW had a volatility of 43.71%, while ICLN experienced 28.8%.
Which ETF is bigger: PBW or ICLN?
As of September 4, 2026, PBW holds $392.44 M in assets under management (AUM), while ICLN manages $2.06 B.
What sectors do the PBW and ICLN ETFs invest in?
PBW leans toward sectors like Industrials, Non-Energy Materials and Consumer Cyclicals. Meanwhile, ICLN focuses on Industrials, Utilities and Technology.
What are the top holdings of the PBW ETF and ICLN ETF?
PBW top holdings include Itron, Inc., Gentherm, Inc. and OPAL Fuels, Inc.. ICLN holds in its top three: China Yangtze Power Co., Ltd., First Solar, Inc. and Nextpower, Inc..
Which ETF is more diversified: PBW or ICLN?
PBW holds 72 securities with 30.06% of its assets in the top 15. ICLN has 104 securities and a top 15 weight of 59.72%.
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