TANvsICLNETF Comparison
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Invesco Solar ETF (TAN) and iShares Global Clean Energy ETF (ICLN) belong to the same industry segment: Alternative Energy. Both ETFs have the same top 3 sector exposures: Industrials, Utilities and Technology. TAN is more expensive with a Total Expense Ratio (TER) of 0.7%, versus 0.38% for ICLN. TAN is down -12.1% year-to-date (YTD) with +$149M in YTD flows. ICLN performs better with -1.67% YTD performance, and +$281M in YTD flows. Run a side-by-side ETF comparison of TAN 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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TAN vs ICLN performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAN ICLN | -1.22%-7.15% | -15.69%-10.92% | -12.10%-1.67% | -12.07%-7.32% | -2.45%+23.58% | -55.21%-30.22% |
| Flows | TAN ICLN | +$60M-$66M | -$247M-$80M | +$149M+$281M | +$204M+$328M | -$58M-$745M | -$997M-$2.05B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAN ICLN | +30.85%+23.13% | +35.01%+29.45% | +35.97%+24.50% | +36.19%+26.58% |
| Max drawdown | TAN ICLN | -24.77%-17.02% | -45.54%-35.05% | -51.26%-35.05% | -73.33%-55.49% |
| Max drawdown duration | TAN ICLN | 91d91d | 156d154d | 756d154d | 1815d1660d |
Trading data
TAN | ICLN | |
Last sale 11/3/2026 at 2:30 PM | $43.34 | $16.11 |
| Previous close 11/02/2026 | $42.07 | $15.73 |
| Consolidated volume 11/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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TAN | 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 11/3/2026 at 2:30 PM
Live
Closed
TAN | ICLN | |
|---|---|---|
| Last price | $43.34 | $16.11 |
| 1D performance | +3.02% | +2.42% |
| AuM | $947.50 M | $2.04 B |
| E/R | 0.7% | 0.38% |
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Exposure
Countries
TAN
USA
44.84%
Israel
21.81%
China
7.06%
Other
26.29%
ICLN
USA
36.42%
China
22.2%
Brazil
7.14%
Other
34.24%
Sectors
TAN
Industrials
43.37%
Utilities
33.64%
Technology
10.65%
Non-Energy Materi.
7.41%
Other
4.94%
ICLN
Industrials
50.27%
Utilities
40.88%
Other
8.84%
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Diversification
TAN
Total weight of top 15 holdings out of 15
74.23%
ICLN
Total weight of top 15 holdings out of 15
60.06%
Top 15 holdings
Data as of September 30, 2026
TAN
Nextpower, Inc.
10.42%
First Solar, Inc.
9.03%
Enlight Renewable Energy Ltd.
8.00%
Enphase Energy, Inc.
6.83%
HA Sustainable Infrastructure Capital, Inc.
4.94%
Doral Group Renewable Energy Resources Ltd.
4.92%
GCL Technology Holdings Ltd.
4.60%
Clearway Energy, Inc.
3.83%
SolarEdge Technologies, Inc.
3.82%
Sunrun, Inc.
3.79%
Solaria Energía y Medio Ambiente SA
3.35%
OY Nofar Energy Ltd.
2.89%
Shoals Technologies Group, Inc.
2.75%
Xinyi Solar Holdings Ltd.
2.72%
SMA Solar Technology AG
2.34%
ICLN
Bloom Energy Corp.
9.71%
China Yangtze Power Co., Ltd.
8.05%
First Solar, Inc.
6.96%
Nextpower, Inc.
6.33%
Enphase Energy, Inc.
4.20%
Vestas Wind Systems A/S
4.18%
Equatorial SA
3.54%
EDP SA
3.01%
Plug Power, Inc.
2.61%
Chubu Electric Power Co., Inc.
2.61%
SolarEdge Technologies, Inc.
1.87%
Enlight Renewable Energy Ltd.
1.87%
Clearway Energy, Inc.
1.84%
Suzlon Energy Ltd.
1.74%
Ørsted A/S
1.56%
Frequently asked questions about TAN and ICLN
How have the TAN and ICLN ETFs performed in 2026?
As of November 3, 2026, TAN is down -12.1% year-to-date (YTD), while ICLN has lost -1.67%. That puts ICLN better performer ahead so far this year.
Which ETF is attracting more investor money: TAN or ICLN?
Year-to-date, the TAN ETF saw +$149M in flows, compared to +$281M for ICLN.
Which ETF is more volatile: TAN or ICLN?
Over the past year, TAN had a volatility of 35.01%, while ICLN experienced 29.45%.
Which ETF is bigger: TAN or ICLN?
As of November 3, 2026, TAN holds $947.50 M in assets under management (AUM), while ICLN manages $2.04 B.
What sectors do the TAN and ICLN ETFs invest in?
TAN leans toward sectors like Industrials, Utilities and Technology. Meanwhile, ICLN focuses on Industrials and Utilities.
What are the top holdings of the TAN ETF and ICLN ETF?
TAN top holdings include Nextpower, Inc., First Solar, Inc. and Enlight Renewable Energy Ltd.. ICLN holds in its top three: Bloom Energy Corp., China Yangtze Power Co., Ltd. and First Solar, Inc..
Which ETF is more diversified: TAN or ICLN?
TAN holds 35 securities with 74.23% of its assets in the top 15. ICLN has 103 securities and a top 15 weight of 60.06%.
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