LIVE
ICLN
iShares Global Clean Energy ETF · Thematic ETF
$21.10
+0.79% this month
VERSUS
⟷
COMPARE
FAN
First Trust Global Wind Energy ETF · Thematic ETF
$24.82
-3.05% this month
Scoreboard verdict
Across expense ratio, momentum, yield, fund size, risk
ICLN
4
FAN
1
Comparison scoreboard
ICLN LEADS 4/5Exp. Ratio
ICLN ✓0.39%
FAN 0.60%
1Y Return
ICLN ✓+67.88%
FAN +41.10%
Div. Yield
ICLN ✓1.14%
FAN 0.97%
AUM
ICLN ✓$3.21B
FAN $319.68M
Beta
ICLN 1.11
FAN ✓0.86
Metrics last refreshed: 6/20/2026
Quick take
ICLN vs FAN ETF Comparison: AI Score, Valuation, Performance and Upside
ICLN and FAN both target the clean energy transition, but ICLN is the diversified clean energy ecosystem ETF while FAN is the pure wind energy concentration play. ICLN's 100+ holdings across solar, wind, and other clean technologies provide broader renewable diversification. FAN's pure wind exposure is more volatile but provides purer leverage to offshore wind expansion and turbine manufacturing cycles. ICLN is the safer clean energy foundation; FAN is the higher-concentration wind-specific bet.
ICLN vs FAN — iShares Global Clean Energy ETF (diversified global clean energy covering solar, wind, hydro, and equipment manufacturers with 100+ holdings as the broad renewable sector investment thesis) versus First Trust Global Wind Energy ETF (concentrated pure wind energy ETF with offshore wind developers and turbine manufacturers as a targeted wind expansion bet).
Live analysis · updated 6/20/2026
ICLN holds the edge across 4 of 5 key metrics in this comparison. ICLN has delivered stronger 1-year price return (+67.88% vs +41.10% for FAN).
Normalized 1Y performance
ICLN
FAN
Recent returns
ICLN
FAN
Who should consider this stock?
ICLN may suit investors who:
- →want broad clean energy market exposure across solar, wind, and clean technology without concentrating in a single renewable technology's supply chain and manufacturing cycle
- →value the IRA Inflation Reduction Act investment thesis across clean energy categories — solar, wind, battery storage, and hydrogen all benefit from IRA tax credits captured in ICLN's diversified holdings
- →prefer ICLN's global clean energy coverage including European utilities and Chinese solar alongside US renewable companies — the broadest approach to the global energy transition
- →are comfortable with utility-like interest rate sensitivity, Chinese solar panel price competition, and policy dependency for clean energy economics
FAN may suit investors who:
- →want to specifically invest in the global wind energy value chain — offshore wind farm developers, turbine manufacturers, and wind energy operators rather than the full clean energy ecosystem
- →believe offshore wind is the highest-priority electricity generation investment globally — North Sea, US East Coast, and Pacific offshore wind expansion creates multi-decade demand for FAN's wind energy holdings
- →prefer European clean energy leadership exposure through Vestas, Siemens Gamesa, and Orsted — the world's most advanced wind manufacturers and offshore developers
- →are comfortable with FAN's 0.60% higher expense, offshore wind supply chain volatility and cost overruns, and more concentrated wind-specific risk vs ICLN's diversified clean energy approach
Performance & AI score
| Metric | ICLN | FAN |
|---|---|---|
| ETF score | 47.0 | 45.0 |
| Latest close | $21.10 | $24.82 |
| 1M return | +0.79% | -3.05% |
| 6M return | +32.23% | +23.91% |
| 1Y return | +67.88% | +41.10% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | ICLN | FAN |
|---|---|---|
| 1Y ago | $16.97K (+69.7%) started 2025-06-18 | $14.3K (+43.0%) started 2025-06-18 |
| 5Y ago | $10.77K (+7.7%) started 2021-06-18 | $13.69K (+36.9%) started 2021-06-18 |
| 10Y ago | $35.36K (+253.6%) started 2016-06-20 | $31.68K (+216.8%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Fund characteristics
| Metric | ICLN | FAN |
|---|---|---|
| Expense ratio | 0.39% | 0.60% |
| Total assets (AUM) | $3.21B | $319.68M |
| Dividend yield | 1.14% | 0.97% |
| Trailing P/E | 19.70 | 23.89 |
| Beta | 1.11 | 0.86 |
| 52-week change | 67.88% | 41.10% |
Risk & fund metrics
| Metric | ICLN | FAN |
|---|---|---|
| 1Y return | +67.88% | +41.10% |
| 6M return | +32.23% | +23.91% |
| 1M return | +0.79% | -3.05% |
| 1Y Sharpe ratio | 1.84 | 1.60 |
| Beta | 1.11 | 0.86 |
| Dividend yield | 1.14% | 0.97% |
| 5Y CAGR | +0.12% | +4.83% |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
ICLN max drawdown16.38%
FAN max drawdown11.13%
ICLN max wkly drop13.99%
FAN max wkly drop6.46%
5Y risk snapshot
ICLN max drawdown57.16%
FAN max drawdown38.45%
ICLN max wkly drop15.17%
FAN max wkly drop10.03%
10Y risk snapshot
ICLN max drawdown66.75%
FAN max drawdown46.29%
ICLN max wkly drop28.01%
FAN max wkly drop23.28%
Performance metrics by period
| Period | Metric | ICLN | FAN |
|---|---|---|---|
| 1Y | Growth | +67.88% | +41.10% |
| CAGR | +67.94% | +41.13% | |
| Sharpe ratio | 1.84 | 1.60 | |
| Max drawdown | 16.38% | 11.13% | |
| Max daily drop | 7.71% | 4.32% | |
| Max wkly drop | 13.99% | 6.46% | |
| 5Y | Growth | +0.60% | +26.58% |
| CAGR | +0.12% | +4.83% | |
| Sharpe ratio | -0.02 | 0.12 | |
| Max drawdown | 57.16% | 38.45% | |
| Max daily drop | 7.71% | 7.00% | |
| Max wkly drop | 15.17% | 10.03% | |
| 10Y | Growth | +189.73% | +147.22% |
| CAGR | +11.23% | +9.48% | |
| Sharpe ratio | 0.36 | 0.32 | |
| Max drawdown | 66.75% | 46.29% | |
| Max daily drop | 12.81% | 11.61% | |
| Max wkly drop | 28.01% | 23.28% |
Fund overview
| Category | ICLN | FAN |
|---|---|---|
| Fund name | iShares Global Clean Energy ETF | First Trust Global Wind Energy ETF |
| Type | ETF | ETF |
| Expense ratio | 0.39% | 0.60% |
| Total assets (AUM) | $3.21B | $319.68M |
| Dividend yield | 1.14% | 0.97% |
ICLN strengths
- →Broadest clean energy coverage: ICLN's 100+ holdings across solar, wind, hydro, and clean energy equipment span the entire renewable energy ecosystem — maximum diversification within clean tech
- →IRA tax credit beneficiary: US clean energy tax credits from the Inflation Reduction Act (production tax credits, investment tax credits) directly benefit ICLN's US solar and wind holdings
- →Global renewable market exposure: ICLN's European and international clean energy companies (Orsted, Vestas, Enel) capture global renewable build-out beyond US-only clean energy investors
FAN strengths
- →Pure wind energy concentration: FAN's exclusive wind focus provides cleaner exposure to offshore wind expansion and wind turbine technology cycles vs ICLN's diversified solar/wind/other mix
- →Offshore wind offshore expansion theme: the global offshore wind buildout (North Sea, US East Coast, Taiwan Strait) is a major infrastructure investment cycle — FAN's offshore wind developer holdings capture this specifically
- →European wind energy leadership: FAN's significant Vestas, Siemens Gamesa, and Orsted exposure gives US investors access to Europe's global wind manufacturing and development leadership
Risks to watch — ICLN
- →Interest rate sensitivity of utility-like clean energy assets: renewable energy developers carry high capital costs — rising rates increase cost of capital and compress clean energy project economics
- →China solar panel price competition: Chinese solar manufacturers in ICLN compete with US and European producers on price — panel oversupply from China has compressed margins across the solar supply chain
- →Policy dependency on government subsidies: clean energy economics depend significantly on IRA tax credits and renewable portfolio standards — policy changes or subsidy reductions create regulatory risk for ICLN holdings
Risks to watch — FAN
- →Higher expense ratio at 0.60% vs ICLN's 0.40%: FAN's concentration premium is expensive — pure wind ETF costs more than diversified ICLN
- →Supply chain challenges for offshore wind: offshore wind has faced significant cost overruns, supply chain delays, and project cancellations due to rising steel and turbine costs — Orsted canceled major US projects
- →Less diversification creates concentration risk: FAN's pure wind focus means poor wind energy conditions or project cancellations can drag the ETF more than ICLN's diversified clean energy approach
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