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TAN

GradeDNew York Stock Exchange Arca

Invesco Solar ETF

Themes · Invesco · Inception 2008-04-15 · SEC filings

$45.44−1.06 (−2.29%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 59 prints from 46.50 to 45.44. Range 45.34 to 46.30. Use the arrow keys to read each point.$45.60$46.00$46.4010 AM12 PM2 PM4 PM
Expense ratio
0.70%
Fund size
$957M
1Y return
+5.9%
Yield · Last 12 months
0.00%
Holdings
35
Volume · 30D
1.3M sh
NAV per share
$46.73
52W range
low $42.22high $75.60

The ETF.net TAN Grade

D

37/ 100

Rank 15 of 17 in Clean Energy⁠

Confidence Medium

Six-pillar profile for TAN. Scores out of 100: Cost 13, Risk 25, Mission not scored, Tradability 86, Holdings 37, Durability 85. Strongest: Tradability (86). Weakest: Cost (13). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 37 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 13
    Category rank15/17 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 25
    Category rank14/17 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 86
    Category rank3/17 · top 18%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 37
    Category rank14/17 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 85
    Category rank2/17 · top 12%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on TAN

ETF.net Research

DThe purest way to buy the sun. Since 2008 this fund has tracked one index of roughly 40 solar companies, panel makers to installers, rather than blending solar into a mixed clean-energy basket.

Stated mandate

The fund seeks to provide exposure to the MAC Global Solar Energy Index.

Why people hold it

  1. 01One theme, taken literally: about 40 solar names via the MAC Global Solar Energy Index, with no wind or hydro riding along.invesco.com
  2. 02Trading since April 2008, it has run through solar's full boom-and-bust cycles and sits in the upper half of its clean energy peer group.
  3. 03A multi-billion-dollar fund that trades actively, so building or exiting a position rarely means wrestling with a thin order book.

Worth knowing

  1. 01The 0.70% fee sits above the clean energy median. Broader rivals ICLN and FRNW charge 0.39% for wider coverage of the theme.
  2. 02Roughly 40 stocks in a single industry: moves here land harder than in a diversified fund, in both directions.
  3. 03Not an income holding. The fund has recently gone without paying distributions.

TAN Holdings

As of Sep 20, 2026, 1:44 PM
Asset class
Stocks
Holdings
35
Top-10 weight
58%
Largest holding
FSLR9.8%

Sectors

  • Energy56.3%
  • Utilities30.8%
  • Industrials5.4%
  • Financials4.5%
  • Technology3.1%

Geography

  • United States43.38%
  • Israel21.80%
  • China7.44%
  • Spain5.59%
  • Taiwan4.77%
  • Hong Kong4.35%
  • Germany3.02%
  • Norway2.07%
  • Other countries (6)7.58%

Developed 32% · Emerging 68% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001FSLRFirst Solar Inc9.81%477,244$94M325
002NXTNextpower Inc8.84%1,046,702$84M213
003ENLT.TAEnlight Renewable Energy Ltd8.19%1,038,274$78M87
004ENPHEnphase Energy Inc6.37%1,753,134$61M147
005DORL.TADoral Group Renewable Energy Resources Ltd4.68%2,510,030$45M43
006HASIHA Sustainable Infrastructure Capital Inc4.39%1,139,095$42M124
007GCPEFGCL Technology Holdings Ltd4.35%443,586,810$41M2
008RUNSunrun Inc3.86%4,316,310$37M114
009SEDGSolarEdge Technologies Inc3.86%1,060,381$37M85
010CWENClearway Energy Inc3.64%1,124,587$35M147
011SLR.MCSolaria Energia y Medio Ambiente SA3.42%1,649,205$33M52
012S92.DESMA Solar Technology AG3.02%440,545$29M54
013NOFR.TAOY Nofar Energy Ltd2.89%525,883$28M43
014SHLSShoals Technologies Group Inc2.85%3,568,772$27M97
015XNYIFXinyi Solar Holdings Ltd2.78%101,878,577$27M3

Showing 1–15 of 40 holdings

TAN Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

TAN$10,595
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. TAN $10,595. SPY $11,723. Use the arrow keys to read each point.$8,946$13,188$17,429Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TAN. Periods over one year show the average yearly return.
PeriodTAN
Year to date−5.3%
1 month−5.7%
3 months−23.9%
1 year+5.9%
3 years−4.0%per year
5 years−10.9%per year
10 years+9.7%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TAN
YearReturn barTAN
2026 YTD−5.3%
2025+48.3%
2024−37.6%
2023−26.8%
2022−5.2%
2021−25.1%
2020+233.9%

TAN in the news

TAN Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2024

One bar per payment. 8 payments from 2015 to 2024. Dec 24, 2015 $0.49; Dec 23, 2016 $0.84; Dec 26, 2017 $0.44; Dec 24, 2018 $0.13; Dec 23, 2019 $0.09; Dec 21, 2020 $0.09; Dec 18, 2023 $0.05; Dec 23, 2024 $0.16. Use the arrow keys to read each point.2015201620172018201920202021202220232024
Ex-datePay dateAmount per share
Dec 23, 2024Dec 27, 2024$0.16
Dec 18, 2023Dec 22, 2023$0.05
Dec 21, 2020Dec 31, 2020$0.09
Dec 23, 2019Dec 31, 2019$0.09
Dec 24, 2018Dec 31, 2018$0.13
Dec 26, 2017Dec 29, 2017$0.44
Dec 23, 2016Dec 30, 2016$0.84
Dec 24, 2015Dec 31, 2015$0.49
Dec 24, 2014Dec 31, 2014$0.64
Dec 24, 2013Dec 31, 2013$0.45
Dec 24, 2012Dec 31, 2012$1.42
Dec 23, 2011Data unavailable$2.11

TAN Risk

How much the fund’s monthly returns vary, scaled to a year.
39.7%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.08
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−74.0%
Trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.85
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

TAN Cost

Expense ratio0.70%
  • The middle half of Clean Energy funds
  • Median 0.58%

13 of the 16 Clean Energy funds charge less.

TAN costs $70.00 a year on $10,000. The median Clean Energy fund costs $58.50.