ETF Versus

ICLN vs TAN

iShares Global Clean Energy ETF vs Invesco Solar ETF

Last updated: 2026-04-02

iShares Global Clean Energy ETF (ICLN) is an exchange-traded fund that provides exposure to thematic - clean energy securities. It charges an above-average expense ratio of 0.39%. The fund offers a moderate dividend yield of 1.47%. Launched in 2008, the fund has a 18-year track record.

AUM: $2.1B ER: 0.39% Yield: 1.47% Since: Jun 24, 2008
TAN

Invesco Solar ETF (TAN) is an exchange-traded fund that provides exposure to thematic - clean energy securities. It charges a high expense ratio of 0.70%. Launched in 2008, the fund has a 18-year track record.

AUM: $1.5B ER: 0.70% Yield: N/A Since: Apr 15, 2008

Quick Verdict

ICLN is significantly cheaper at 0.39% vs 0.70% expense ratio, saving you approximately $592 per $10,000 invested over 10 years. Over the past year, TAN has significantly outperformed with a 82.7% return vs 58.8%.

Key Metrics

Metric ICLN TAN
Expense Ratio 0.39% 0.70%
Dividend Yield 1.5% N/A
Fund Family N/A N/A
Category Thematic - Clean Energy Thematic - Clean Energy

Performance Chart

Indexed to 100 at start (5-year comparison)

25 43 61 79 97 115 2021-04 2022-06 2023-09 2024-12 2026-04
ICLN -23.4%
TAN -36.2%

Performance Comparison

Period ICLN TAN Difference
1 Month -0.44% -0.16% -0.28%
3 Months +6.73% +9.05% -2.32%
6 Months +14.21% +22.38% -8.17%
YTD +6.73% +9.05% -2.32%
1 Year +58.83% +82.69% -23.86%
3 Years -6.70% -26.31% +19.61%
5 Years -23.35% -36.17% +12.82%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period ICLN Fees TAN Fees You Save
$10.000 10 years $767 $1.359 $592
$10.000 20 years $3.253 $5.684 $2.431
$10.000 30 years $10.349 $17.834 $7.485
$50.000 10 years $3.835 $6.796 $2.961
$50.000 30 years $51.746 $89.170 $37.424
$100.000 30 years $103.492 $178.339 $74.848

Risk Metrics

Based on 5 years of daily returns

Metric ICLN TAN
Annualized Volatility 27.2% 39.8%
Max Drawdown -59.0% -74.1%
Sharpe Ratio -0.23 -0.14

Dividend Comparison

Metric ICLN TAN
Annual Dividend (per share) $0.27 $0.00
Dividend Yield 1.47% 0.00%
Distribution Frequency Semi-Annual or Annual None

Top Holdings

3 of top 10 holdings overlap (30% overlap in top holdings)

ICLN Top Holdings

NameWeight
Nextpower Inc.NXT10.18%
Bloom Energy CorporationBE9.29%
First Solar, Inc.FSLR5.94%
Iberdrola, S.A.!bme/IBE5.60%
China Yangtze Power Co., Ltd.!sha/6009004.76%
Ormat Technologies, Inc.ORA3.21%
Enphase Energy, Inc.ENPH3.05%
Equatorial S.A.!bvmf/EQTL32.79%
Vestas Wind Systems A/S!cph/VWS2.50%
EDP, S.A.!eli/EDP2.16%

TAN Top Holdings

NameWeight
First Solar, Inc.FSLR9.82%
Nextpower Inc.NXT9.80%
Enlight Renewable Energy Ltd!tlv/ENLT6.44%
Enphase Energy, Inc.ENPH6.34%
SolarEdge Technologies, Inc.SEDG5.44%
Sunrun Inc.RUN4.87%
GCL Technology Holdings Limited!hkg/38004.42%
HA Sustainable Infrastructure Capital, Inc.HASI4.20%
Solaria Energía y Medio Ambiente, S.A.!bme/SLR4.18%
Doral Group Renewable Energy Resources Ltd!tlv/DORL3.58%

Which One Should You Choose?

Choose ICLN if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose TAN if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Either works if...

you just need broad thematic - clean energy exposure. Both are solid options — pick whichever your brokerage offers commission-free.

Related Comparisons