PBWvsTANETF Comparison
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Invesco WilderHill Clean Energy ETF (PBW) and Invesco Solar ETF (TAN) belong to the same industry segment: Alternative Energy. PBW's top 3 sector exposures are Industrials, Non-Energy Materials and Technology. In contrast, TAN's top sector exposures are Industrials, Utilities and Technology. PBW is less expensive with a Total Expense Ratio (TER) of 0.63%, versus 0.7% for TAN. PBW is down -18.46% year-to-date (YTD) with -$324M in YTD flows. TAN performs better with -16.43% YTD performance, and +$135M in YTD flows. Run a side-by-side ETF comparison of PBW and TAN 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 TAN 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 TAN | -19.32%-8.88% | -25.46%-22.58% | -18.46%-16.43% | -22.53%-11.69% | -0.07%-5.77% | -66.91%-54.28% |
| Flows | PBW TAN | -$3M+$46M | -$33M-$354M | -$324M+$135M | -$217M+$191M | -$136M-$92M | -$401M-$712M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBW TAN | +37.23%+32.32% | +42.12%+34.71% | +41.22%+35.95% | +43.37%+36.20% |
| Max drawdown | PBW TAN | -29.34%-23.14% | -46.97%-44.36% | -54.99%-51.26% | -84.50%-73.61% |
| Max drawdown duration | PBW TAN | 68d80d | 143d145d | 644d756d | 1810d1817d |
Trading data
PBW | TAN | |
Last sale 10/23/2026 at 1:30 PM | $24.56 | $41.07 |
| Previous close 10/23/2026 | $24.54 | $41.35 |
| 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 | TAN | |
|---|---|---|
| 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 | TAN | |
|---|---|---|
| Last price | $24.56 | $41.07 |
| 1D performance | +0.08% | -0.68% |
| AuM | $283.99 M | $887.65 M |
| E/R | 0.63% | 0.7% |
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Exposure
Countries
PBW
USA
76.66%
Other
23.34%
TAN
USA
44.16%
Israel
20.64%
China
8.02%
Other
27.18%
Sectors
PBW
Industrials
42.5%
Non-Energy Materi.
25.6%
Technology
11.01%
Consumer Cyclical.
10.61%
Other
10.28%
TAN
Industrials
45.18%
Utilities
33.33%
Technology
10.23%
Other
11.25%
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Diversification
PBW
Total weight of top 15 holdings out of 15
30.12%
TAN
Total weight of top 15 holdings out of 15
71.93%
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%
TAN
First Solar, Inc.
9.83%
Nextpower, Inc.
9.19%
Enlight Renewable Energy Ltd.
7.18%
Enphase Energy, Inc.
6.75%
Doral Group Renewable Energy Resources Ltd.
4.53%
HA Sustainable Infrastructure Capital, Inc.
4.50%
GCL Technology Holdings Ltd.
4.13%
Sunrun, Inc.
3.83%
Clearway Energy, Inc.
3.57%
SolarEdge Technologies, Inc.
3.48%
Solaria Energía y Medio Ambiente SA
3.34%
OY Nofar Energy Ltd.
3.20%
Xinyi Solar Holdings Ltd.
2.98%
SMA Solar Technology AG
2.82%
Shoals Technologies Group, Inc.
2.60%
Frequently asked questions about PBW and TAN
How have the PBW and TAN ETFs performed in 2026?
As of October 23, 2026, PBW is down -18.46% year-to-date (YTD), while TAN has lost -16.43%. That puts TAN better performer ahead so far this year.
Which ETF is attracting more investor money: PBW or TAN?
Year-to-date, the PBW ETF saw -$324M in flows, compared to +$135M for TAN.
Which ETF is more volatile: PBW or TAN?
Over the past year, PBW had a volatility of 42.12%, while TAN experienced 34.71%.
Which ETF is bigger: PBW or TAN?
As of October 23, 2026, PBW holds $283.99 M in assets under management (AUM), while TAN manages $887.65 M.
What sectors do the PBW and TAN ETFs invest in?
PBW leans toward sectors like Industrials, Non-Energy Materials and Technology. Meanwhile, TAN focuses on Industrials, Utilities and Technology.
What are the top holdings of the PBW ETF and TAN ETF?
PBW top holdings include BETA Technologies, Inc., OPAL Fuels, Inc. and Itron, Inc.. TAN holds in its top three: First Solar, Inc., Nextpower, Inc. and Enlight Renewable Energy Ltd..
Which ETF is more diversified: PBW or TAN?
PBW holds 71 securities with 30.12% of its assets in the top 15. TAN has 35 securities and a top 15 weight of 71.93%.
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