FAN vs ICLN vs PBW vs TAN: holdings overlap, shared companies and scores
As of October 28, 2026, ICLN and TAN overlap most of FAN, ICLN, PBW and TAN, at 31.5% by weight, and FAN and PBW least, at 0.6%. First Trust Global Wind Energy ETF (FAN): Global wind energy stocks. iShares Global Clean Energy ETF (ICLN): Global clean energy stocks. Invesco WilderHill Clean Energy ETF (PBW): U.S. clean energy innovators. Invesco Solar ETF (TAN): Global solar energy companies.
Updated October 28, 2026
Where FAN, ICLN, PBW and TAN trade against their own history
FAN trades at 18.8 times earnings, against its own median of 15.5, and is more expensive than 61% of its own last 9 years.
ICLN trades at 18.7 times earnings, against its own median of 17.7, and is more expensive than 57% of its own last 9 years.
PBW trades at 22.2 times earnings, against its own median of 14.4, and is more expensive than 97% of its own last 3 years.
TAN trades at 19.4 times earnings, against its own median of 18.7, and is more expensive than 54% of its own last 9 years.
What moved ICLN, PBW and TAN this week
ICLN fell 4.5% in the week to October 28, 2026. The holdings that moved it most were Axia Energia (−22.4%), Equatorial Energia (−34.0%) and Enphase Energy (−21.9%); Iberdrola (+1.4%) pushed the other way.
PBW rose 1.9% in the week to October 28, 2026. The holdings that moved it most were Enovix (+38.6%), Gentherm (+16.6%) and Evgo (+15.7%); Enphase Energy (−21.9%) pushed the other way.
TAN fell 3.7% in the week to October 28, 2026. The holdings that moved it most were Enphase Energy (−21.9%), Enlight Renewable Energy (−5.6%) and SolarEdge (−11.1%); Clearway Energy (+3.7%) pushed the other way.
What do FAN, ICLN, PBW and TAN each hold?
53% of FAN is its ten largest holdings.
What's inside ICLN: Tech 2%, Semiconductors 1%.
52% of ICLN is its ten largest holdings.
What's inside PBW: Tech 14%, Semiconductors 6%.
18% of PBW is its ten largest holdings.
What's inside TAN: Tech 3%, Semiconductors 2%.
62% of TAN is its ten largest holdings.
How much do FAN, ICLN, PBW and TAN overlap? From 0.6% to 31.5% by weight
As of October 28, 2026, of the six published pairs among FAN, ICLN, PBW and TAN, ICLN and TAN overlap most at 31.5% by weight, and FAN and PBW least at 0.6%.
FAN holds 46, ICLN holds 122, PBW holds 72 and TAN holds 35 companies.
- ICLN and TAN: 31.5% by weight, 22 companies in both.
- FAN and ICLN: 16.0% by weight, 15 companies in both.
- ICLN and PBW: 14.4% by weight, 15 companies in both.
- PBW and TAN: 14.4% by weight, 10 companies in both.
- FAN and TAN: 4.4% by weight, 4 companies in both.
- FAN and PBW: 0.6% by weight, 1 companies in both.
Computed by ETF Copilot from these funds' holdings rather than quoted from a data provider, and rebuilt nightly.
How does ETF Copilot score FAN, ICLN, PBW and TAN? 4.0, 2.2, 4.0 and 3.0 out of 10
As of October 28, 2026, ETF Copilot scores FAN 4.0 out of 10, ICLN 2.2 out of 10, PBW 4.0 out of 10 and TAN 3.0 out of 10.
They differ most on Growth: FAN 7.6, ICLN 1.3, PBW 9.1 and TAN 7.0.
The five factor scores behind them are set out below, 0–10 and higher is better, ranked against every US equity ETF we track.
| Factor | FAN | ICLN | PBW | TAN |
|---|---|---|---|---|
| Growth | 7.6 | 1.3 | 9.1 | 7.0 |
| Value | 5.0 | 5.1 | 9.3 | 5.0 |
| Risk | 2.5 | 1.1 | 0.2 | 0.2 |
| Quality | 1.9 | 3.0 | 0.2 | 0.7 |
| Return | 2.3 | 1.1 | 0.5 | 1.3 |
ICLN is the cheapest of the 4 at 0.38% a year
As of October 28, 2026, FAN charges 0.61% a year, yields 1.00% and holds $190M in assets across 46 positions.
As of October 28, 2026, ICLN charges 0.38% a year, yields 1.20% and holds $2.0B in assets across 122 positions.
As of October 28, 2026, PBW charges 0.63% a year, yields 2.56% and holds $298M in assets across 72 positions.
As of October 28, 2026, TAN charges 0.70% a year and holds $906M in assets across 35 positions.
| Measure | FAN | ICLN | PBW | TAN |
|---|---|---|---|---|
| Expense ratio | 0.61% | 0.38% | 0.63% | 0.70% |
| Dividend yield | 1.00% | 1.20% | 2.56% | — |
| Assets under management | $190M | $2.0B | $298M | $906M |
| Holdings | 46 | 122 | 72 | 35 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Compare with similar funds
Cite this
ETF Copilot, “FAN vs ICLN vs PBW vs TAN holdings overlap and scores”, as of October 28, 2026.
https://etf-copilot.com/compare/fan-vs-icln-vs-pbw-vs-tan
- First Trust Global Wind Energy ETF (FAN)
- iShares Global Clean Energy ETF (ICLN)
- Invesco WilderHill Clean Energy ETF (PBW)
- Invesco Solar ETF (TAN)
ETF Copilot Pro unlocks FAN vs ICLN vs PBW vs TAN prices and holdings.
Try Pro free →