FAN vs ICLN vs PBW vs TAN: holdings overlap, shared companies and scores
As of September 11, 2026, ICLN and TAN overlap most of FAN, ICLN, PBW and TAN, at 32.2% by weight, and FAN and PBW least, at 1.1%. 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 September 11, 2026
How much do FAN, ICLN, PBW and TAN overlap?
As of September 11, 2026, of the six published pairs among FAN, ICLN, PBW and TAN, ICLN and TAN overlap most at 32.2% by weight, and FAN and PBW least at 1.1%.
FAN holds 47, ICLN holds 120, PBW holds 71 and TAN holds 35 companies.
- ICLN and TAN: 32.2% by weight, 21 companies in both.
- FAN and ICLN: 16.0% by weight, 14 companies in both.
- ICLN and PBW: 12.7% by weight, 13 companies in both.
- PBW and TAN: 12.6% by weight, 10 companies in both.
- FAN and TAN: 9.5% by weight, 4 companies in both.
- FAN and PBW: 1.1% 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?
As of September 11, 2026, ETF Copilot scores FAN 4.0 out of 10, ICLN 3.9 out of 10, PBW 3.7 out of 10 and TAN 4.0 out of 10.
They differ most on Valuation: FAN 1.9, ICLN 3.2, PBW 5.9 and TAN 5.4.
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 | 7.7 | 8.9 | 9.3 | 8.6 |
| Valuation | 1.9 | 3.2 | 5.9 | 5.4 |
| Risk | 2.1 | 1.0 | 0.3 | 0.2 |
| Quality | 4.0 | 3.1 | 0.2 | 2.4 |
| Return | 3.0 | 2.0 | 1.3 | 1.9 |
ICLN is the cheapest of the 4 at 0.38% a year
As of September 11, 2026, FAN charges 0.61% a year, yields 2.09% and holds $248M in assets across 47 positions.
As of September 11, 2026, ICLN charges 0.38% a year, yields 1.68% and holds $2.1B in assets across 120 positions.
As of September 11, 2026, PBW charges 0.63% a year, yields 0.55% and holds $399M in assets across 71 positions.
As of September 11, 2026, TAN charges 0.70% a year, yields 0.66% and holds $1.0B in assets across 35 positions.
| Measure | FAN | ICLN | PBW | TAN |
|---|---|---|---|---|
| Expense ratio | 0.61% | 0.38% | 0.63% | 0.70% |
| Dividend yield | 2.09% | 1.68% | 0.55% | 0.66% |
| Assets under management | $248M | $2.1B | $399M | $1.0B |
| Holdings | 47 | 120 | 71 | 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.
Where FAN, ICLN, PBW and TAN trade against their own history
FAN trades at 23.0 times earnings, against its own median of 15.9, and is more expensive than 92% of its own 114 monthly readings since 2017.
ICLN trades at 22.3 times earnings, against its own median of 16.2, and is more expensive than 86% of its own 114 monthly readings since 2017.
PBW trades at 18.3 times earnings, against its own median of 17.8, and is more expensive than 56% of its own 114 monthly readings since 2017.
TAN trades at 21.6 times earnings, against its own median of 16.6, and is more expensive than 76% of its own 114 monthly readings since 2017.
What moved ICLN, PBW and TAN this week
ICLN rose 1.6% in the week to September 11, 2026. The holdings that moved it most were Bloom Energy (+17.1%), Doosan Fuel Cell (+26.5%) and CS Wind (+16.3%); Suzlon Energy (−5.2%) pushed the other way.
PBW fell 1.4% in the week to September 11, 2026. The holdings that moved it most were Sigma Lithium (−25.0%), Sociedad Quimica y Minera de Chile (−12.4%) and Lithium Argentina (−14.2%); Bloom Energy (+17.1%) pushed the other way.
TAN fell 1.2% in the week to September 11, 2026. The holdings that moved it most were Doral Group Renewable Energy Resou (−11.4%), Enlight Renewable Energy (−4.2%) and Hannon Armstrong Sustainable (−6.2%); Solaria Energia y Medio Ambi (+10.8%) pushed the other way.
What do FAN, ICLN, PBW and TAN each hold?
55% of FAN is its ten largest holdings.
What's inside ICLN: Tech 9%, Semiconductors 2%.
51% of ICLN is its ten largest holdings.
What's inside PBW: Tech 13%, Semiconductors 4%.
21% of PBW is its ten largest holdings.
What's inside TAN: Tech 11%, Semiconductors 2%.
57% of TAN is its ten largest holdings.
Compare with similar funds
Cite this
ETF Copilot, “FAN vs ICLN vs PBW vs TAN holdings overlap and scores”, as of September 11, 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)
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