Fidelity Clean Energy ETF (FRNW) is a clean-energy ETF. As of October 9, 2026, ETF Copilot scores FRNW 2.3 out of 10 — highest on Value (4.2), lowest on Risk (0.9). It trades at 20.4 times earnings, against its own median of 19.3. Its ten largest holdings are 38% of the fund.
What stands out in FRNW's data
Clean-energy companies worldwide, selected for innovation potential.
Earns more on its capital than the typical clean-energy fund — a sign the holdings generate real returns.
Return on invested capital of 12.2% sits above the peer median of 10.5% and the fund's own 8.6% historical median.
A thematic sleeve for portfolios wanting targeted exposure to clean-energy innovation.
Why did FRNW move this week? It fell 1.4% in the week to October 9, 2026 — Vestas Wind Systems and Nordex SE drove it
FRNW fell 1.4% in the week to October 9, 2026. The holdings that moved it most were Vestas Wind Systems (−5.5%), Nordex SE (−8.0%) and Plug Power (−11.6%); CGN Power (+5.2%) pushed the other way.
How is FRNW rated? ETF Copilot scores Fidelity Clean Energy ETF (FRNW) 2.3 out of 10
As of October 9, 2026, ETF Copilot scores Fidelity Clean Energy ETF (FRNW) 2.3 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 2.3 / 10
- Growth: 3.3 / 10
- Value: 4.2 / 10
- Risk: 0.9 / 10
- Quality: 1.7 / 10
- Return: 1.3 / 10
Is FRNW expensive right now? It trades at 20.4 times earnings, against its own median of 19.3
As of October 9, 2026, FRNW is more expensive than 71% of its own 56 monthly readings since 2021 — 40 of those months were cheaper than today.
Trailing twelve-month, computed by ETF Copilot from the fund's holdings rather than quoted from a data provider, and rebuilt nightly.
What's inside FRNW?
What's inside FRNW: Size (Large 14%, Mid 46%, Small 40%); Geography (International 63%, US 37%); Tech 3.5%.
What are FRNW's top holdings? The ten largest are 38% of the fund
Less concentrated than 84% of Clean Energy ETFs.
Half of FRNW's weight sits in its 16 largest positions, and once those weights are taken into account it behaves like 39 equally weighted holdings.
What is FRNW's expense ratio? 0.39% a year
As of October 9, 2026, FRNW charges 0.39% a year, yields 1.07% and holds $90M in assets across 52 positions.
| Measure | FRNW |
|---|---|
| Expense ratio | 0.39% |
| Dividend yield | 1.07% |
| Assets under management | $90M |
| Holdings | 52 |
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.
Cite this
ETF Copilot, “Fidelity Clean Energy ETF (FRNW) scores and holdings analysis”, as of October 9, 2026.
https://etf-copilot.com/etf/frnw
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