CTEC vs ICLN: Grades, Fees and Holdings Compared

Global X CleanTech ETF

CTECCNasdaq

iShares Global Clean Energy ETF

ICLNANasdaq

Overlap

26.6%by weight

Expense ratio

ICLN −0.12pt a year

CTEC0.50%ICLN0.38%

Avg volume · 30D

ICLN 2905.9×the volume

CTEC2.15KICLN6.25M

5Y return · a year

ICLN +5.9pt

CTEC−14.2%ICLN−8.3%

CTEC vs ICLN Performance

Oct 29, 2021 – Oct 30, 2026

−53.5%CTEC−35.2%ICLN

Expense ratio: CTEC 0.50%; ICLN 0.38%, better
Fund size: CTEC $21M; ICLN $1.94B
1Y total return: CTEC −17.2%; ICLN −10.6%, better
Yield (12M): CTEC 0.71%; ICLN 1.20%, better
Holdings: CTEC 44; ICLN 124
Avg volume (30D): CTEC 2.15K sh; ICLN 6.25M sh, better
NAV per share: CTEC $50.22; ICLN $15.35
52W range

ETF.net Grade

Pillar letters and Scores for CTEC, ICLN, with each pillar’s weight
Pillar	CTEC	ICLN
Cost30% weight	A70	A100Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	D32	B55Higher
Tradability15% weight	F20	A84Higher
Holdings10% weight	D27	B59Higher
Durability5% weight	F19	A92Higher

Rank among Clean Energy funds

How we build Categories ›

Same Category. CTEC and ICLN are both graded against the same 16 Clean Energy funds, so their Grades compare head to head.

Clean Energy⁠

Category · 16 funds

See all 16 ›

ICLN ranks 1st and CTEC 12th of 16 funds in the Clean Energy Category.

Rank 1AICLNiShares Global Clean Energy ETFScore 81
Rank 2AFRNWFidelity Clean Energy ETFScore 77
Rank 10CSMOGVanEck Low Carbon Energy ETFScore 44
Rank 12CCTECGlobal X CleanTech ETFScore 43
Rank 13DPBDInvesco Global Clean Energy ETFScore 38

Our read on each fund

ETF.net Research

CTECCGlobal X CleanTech ETF

ICLNAiShares Global Clean Energy ETF

In short

CTEC Climate tech, not just clean power. CTEC follows a global index of roughly 40 companies working on the technology side of decarbonization, and charges 0.50% a year to do it.

ICLN The big, global way to own the energy transition: since 2008, ICLN has tracked roughly 100 clean-power companies across developed and emerging markets, charging 0.38% a year, below the typical clean-energy fee.

Stated mandate

CTEC The Fund seeks to track the price and yield performance of the Indxx Global ClimateTech Index before fees and expenses. It invests primarily in index constituents and related depositary receipts.

ICLN The fund seeks to track an index representing global equities in the clean energy sector.

Why people hold it

CTEC Fee of 0.50% a year lands below the median for its clean-energy peer group.
The mandate is global, not a US-only slice: it tracks the Indxx Global ClimateTech Index and can use depositary receipts to reach foreign listings.globalxetfs.com
Rules-based and readable: a published index sets the roughly 40 holdings, so there is no manager discretion to decode.

ICLN At 0.38% with no waiver propping it up, it undercuts FRNW (0.39%) and CNRG (0.45%) and sits below the category median fee.
Global by design: the S&P index draws from developed and emerging markets, so you get Europe's wind and grid names, not just US solar.blackrock.com
Liquidity is built into the rules. Index entrants need $300M market cap and $3M median daily trading, and the fund itself trades very actively.blackrock.com
A multi-billion-dollar iShares fund running since 2008, and one of the strongest implementations in its peer group.

Worth knowing

CTEC A small fund that trades thinly, so the bid-ask spread deserves a look before you place an order. It is not one of the category's giants.
Roughly 40 stocks on a single theme means individual names and the clean-tech cycle drive the ride, and the swings can be sharp.
Distributions come once or twice a year at most. This is a growth theme, not an income line.

ICLN One theme, about 100 stocks. Renewable developers and utilities are capital-intensive, so interest-rate moves land hard here.spglobal.com
Emerging-market listings come with the global reach, adding currency and local-market risk.blackrock.com
Weights blend float market cap with a clean-energy exposure score, so some holdings are partial players, not pure plays.spglobal.com blackrock.com

Full CTEC profile⁠

Full ICLN profile⁠

CTEC vs ICLN Holdings

As of Oct 13, 2026

How CTEC and ICLN differ

Overlap by weight

26.6%

Shared holdings make up 36.7% of ICLN and 31.0% of CTEC.

Level by level

Sector16 Sectors0.0%
Holdings15 in both26.6%
Countryby domicile54.1%
Asset classEquity100%

Sector

Sector weights in CTEC and ICLN, widest gap first
Sector	More in CTECMore in ICLN	CTEC	ICLN
Industrials	CTEC +82.5 points	82.5%	0.0%
Renewable Electricity	ICLN +27.6 points	0.0%	27.6%
Electric Utilities	ICLN +21.0 points	0.0%	21.0%
Heavy Electrical Equipment	ICLN +15.6 points	0.0%	15.6%
Semiconductors	ICLN +14.5 points	0.0%	14.5%
Technology	CTEC +14.2 points	14.2%	0.0%
Electrical Components & Equipment	ICLN +14.1 points	0.0%	14.1%
Semiconductor Equipment	ICLN +4.6 points	0.0%	4.6%
Materials	CTEC +1.7 points	1.7%	0.0%
Oil & Gas Refining & Marketing & Transportation	ICLN +1.6 points	0.0%	1.6%
Consumer Discretionary	CTEC +1.2 points	1.2%	0.0%
Utilities	CTEC +0.5 points	0.5%	0.0%
Steel	ICLN +0.3 points	0.0%	0.3%
Construction & Engineering	ICLN +0.3 points	0.0%	0.3%
Independent Power Producers & Energy Traders	ICLN +0.3 points	0.0%	0.3%
Industrial Machinery & Supplies & Components	ICLN +0.1 points	0.0%	0.1%

Country, concentration and asset class

Country by domicile

Country weights in CTEC and ICLN, widest gap first
Country	More in CTECMore in ICLN	CTEC	ICLN
China	ICLN +12.2 points	6.6%	18.8%
Germany	CTEC +9.6 points	11.8%	2.2%
South Korea	CTEC +9.5 points	11.0%	1.5%
Brazil	ICLN +8.9 points	0.0%	8.9%
Spain	ICLN +8.4 points	0.0%	8.4%
United States	CTEC +8.1 points	46.3%	38.2%
France	CTEC +5.5 points	5.5%	0.0%
India	ICLN +5.4 points	0.0%	5.4%
Other countries (9)	CTEC +2.2 points	18.7%	16.5%

Outside the US: CTEC 62% developed, 38% emerging. ICLN 36% developed, 64% emerging.

Concentration

Weight in the 10 largest Holdings

CTEC56.9%
ICLN51.7%

Securities held

CTEC41
ICLN102

Asset class

CTEC: Equity
ICLN: Equity

Holdings

Only in CTEC26
In both15
Only in ICLN87

Only in CTEC

26 securities, 69.0% of CTEC by weight

Trane Technologies PLC6.71%
Ge Vernova Inc6.68%
Eaton Corp PLC6.44%
Siemens Energy AG6.20%
Schneider Electric SE5.49%
Lg Energy Solution5.08%
Samsung Sdi Co Ltd4.65%
Carrier Global Corp4.53%
Prysmian Spa4.42%
Contemporary Amperex Techn-H4.06%
Nibe Industrier Ab-B Shs3.31%
Johnson Matthey PLC1.75%
Eb Environment1.54%
Chung-Hsin Electric & Machin1.14%
Quantumscape Corp1.07%
Xinyi Solar Holdings Ltd0.95%
Simplo Technology Co Ltd0.93%
Dynapack International Tech0.79%
Landis & Gyr Group AG0.77%
Amprius Technologies Inc0.55%
Fluence Energy Inc0.43%
Dongfang Electric Corp Ltd-H0.38%
Eos Energy Enterprises Inc0.37%
Ameresco Inc-Cl A0.28%
Flat Glass Group Co Ltd-H0.26%
Other Payable & Receivables0.21%

Only in ICLN

87 securities, 62.9% of ICLN by weight

Iberdrola7.04%
China Yangtze Power Ltd A5.84%
Axia Energia SA4.17%
Ormat Tech Inc3.07%
Chubu Electric Power Inc2.86%
Edp Energias De Portugal2.36%
Clearway Energy Inc Class C2.16%
Enlight Renewable Energy2.11%
Equatorial SA2.07%
Suzlon Energy1.76%
Orsted A/S1.56%
Waaree Energies Ltd1.37%
Huadian New Energy Group Corp Ltd1.25%
Sungrow Power Supply Ltd A1.21%
Huaneng Lancang River Hydropower I1.11%
Solaria Energia Y Medio Ambiente’s0.92%
China Longyuan Power Group H0.91%
Energisa Units0.87%
China Three Gorges Renewables(Grou0.86%
Edp Renewables SA0.80%
Sichuan Chuantou Energy Ltd A0.78%
Longi Green Energy Technology A0.74%
Green Plains0.74%
Premier Energies Ltd0.73%
Doral Group Renewable Energy Resou0.73%
Engie Brasil Energia SA0.68%
Nhpc Ltd0.64%
Cpfl Energia0.61%
Brookfield Renewable Subordinate V0.58%
Verbund AG0.55%
United Renewable Energy0.48%
O.y. Nofar Energy0.44%
T1 Energy0.44%
Inox Wind0.42%
Array Technologies Inc0.39%
Rex American Resources0.37%
Renew Energy Global PLC Class A0.37%
Jinko Solar Ltd A0.35%
Tcl Zhonghuan Renewable Energy Tec0.34%
Energix Renewable Energies Ltd0.32%
China Southern Power Grid Energy’s0.31%
Guangxi Guiguan Electric Power Ltd0.31%
Central New Energy Holding Group L0.31%
Erg0.30%
Century Iron and Steel Industrial0.30%
Suzhou Maxwell Technologies Ltd A0.30%
Verbio0.29%
Tsec Corp0.27%
Corporacion Acciona Energias Renov0.24%
Auren Energia SA0.23%

Weight gaps

All 15 Holdings in both funds, largest gap first.

Holding weights in CTEC and ICLN, widest gap first
Holding	More in CTECMore in ICLN	CTEC	ICLN
First Solar IncFSLR	ICLN +4.58 points	4.02%	8.60%
Nextpower IncNXT	ICLN +3.21 points	4.83%	8.04%
Nordex SE	CTEC +2.68 points	4.15%	1.47%
Enphase Energy IncENPH	ICLN +0.74 points	1.78%	2.52%
Vestas Wind Systems A/S	CTEC +0.67 points	3.99%	3.32%
Sma Solar Technology AG	CTEC +0.66 points	0.99%	0.33%
Solaredge Technologies IncSEDG	ICLN +0.54 points	0.83%	1.37%
Plug Power IncPLUG	ICLN +0.45 points	0.97%	1.42%
Shoals Technologies Group -ASHLS	ICLN +0.28 points	0.62%	0.90%
Goldwind SCIENCE&TECHNOLOG-H	ICLN +0.22 points	0.28%	0.50%
Cs Wind Corp	CTEC +0.21 points	0.74%	0.53%
Doosan Fuel Cell Co Ltd	CTEC +0.13 points	0.82%	0.69%
Bloom Energy Corp- ABE	CTEC +0.08 points	6.28%	6.20%
Canadian Solar IncCSIQ	ICLN +0.07 points	0.26%	0.33%
Ceres Power Holdings PLCCWR.L	ICLN +0.01 points	0.45%	0.46%

All 40 CTEC holdings⁠All 103 ICLN holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CTEC vs ICLN Cost

Overpaying CTEC vs ICLN

$2,273

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CTEC 0.50%
$9,979
ICLN 0.38%
$7,706

Amount$10,000

Years30 years

Cost over time

CTEC 0.50%
ICLN 0.38%
Overpaying

Year by year

Year	CTEC	ICLN	Overpaying
10	$900	$688	$212
20	$3,460	$2,658	$802
30	$9,979	$7,706	$2,273

Expense ratio

0.50%CTEC
0.38%ICLN, cheaper

ICLN0.38%CTEC0.50%

0.38%0.79%

Middle half of Clean Energy funds
Median 0.59%

ICLN cheapest of 16 funds

CTEC 5th cheapest of 16 funds

CTEC vs ICLN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CTEC 0.71%; ICLN 1.20%, better
Payout (12M): CTEC $0.35; ICLN $0.18
Last payment: CTEC $0.07; ICLN $0.06
Ex-dividend: CTEC Jun 29, 2026; ICLN Jun 15, 2026
Paid on: CTEC Jul 7, 2026; ICLN Jun 18, 2026
Frequency: CTEC Twice a year; ICLN Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

CTECTwice a year · 9 paymentsAll CTEC payments⁠

ICLNTwice a year · 21 paymentsAll ICLN payments⁠

CTEC vs ICLN Risk

Fall from peak · 5 years

CTEC
ICLN

Risk facts

VolatilityStd dev, 3 years: CTEC 37.3%ICLN 27.3%, better
Return per unit of riskSharpe ratio, 3 years: CTEC 0.18ICLN 0.22, better
Worst fallMax drawdown, 5 years: CTEC −76.5%ICLN −57.1%, better
Market sensitivityBeta, 5 years: CTEC 2.06ICLN 1.49; Market = 1

CTEC and ICLN in the news

All news⁠

Deep Dive
The grid fund is more than five times the clean-energy flagship, and they barely overlap
Oct 26, 2026ICLN
Deep Dive
Solar funds fall 3% after the Fed hike. The 1,137 MW of PPAs pay from 2029
Sep 20, 2026ICLN

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CTEC vs ICLN

In short

Stated mandate

Why people hold it

Worth knowing

How CTEC and ICLN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CTEC

Only in ICLN

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The grid fund is more than five times the clean-energy flagship, and they barely overlap

Solar funds fall 3% after the Fed hike. The 1,137 MW of PPAs pay from 2029

How CTEC and ICLN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CTEC

Only in ICLN

Weight gaps