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FAN vs ICLN

First Trust Global Wind Energy ETF

FANBNYSE Arca

iShares Global Clean Energy ETF

ICLNANasdaq

Overlap

16.2%by weight

Expense ratio

ICLN −0.22pt a year

FAN0.60%ICLN0.38%

Avg volume · 30D

ICLN 84.2×the volume

FAN74.2KICLN6.25M

10Y return · a year

FAN +0.2pt

FAN+7.6%ICLN+7.4%

FAN vs ICLN Performance

Oct 29, 2021 – Oct 30, 2026

+6.9%FAN−35.2%ICLN

Oct 29, 2021 to Oct 30, 2026. FAN +6.9%. ICLN −35.2%. Use the arrow keys to read each point.−20%20%Oct 2021Apr 2024Oct 2026
Expense ratio
FAN 0.60%
ICLN 0.38%, better
Fund size
FAN $186M
ICLN $1.94B
1Y total return
FAN +8.7%, better
ICLN −10.6%
Yield (12M)
FAN 0.95%
ICLN 1.20%, better
Holdings
FAN 50
ICLN 124
Avg volume (30D)
FAN 74.2K sh
ICLN 6.25M sh, better
NAV per share
FAN $21.87
ICLN $15.35
52W range

ETF.net Grade

FAN: Cost 40, Risk 90, Mission not scored, Tradability 59, Holdings 52, Durability 75. ICLN: Cost 100, Risk 55, Mission not scored, Tradability 84, Holdings 59, Durability 92.
Pillar letters and Scores for FAN, ICLN, with each pillar’s weight
PillarFANICLN
Cost30% weightC40A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightA90HigherB55
Tradability15% weightB59A84Higher
Holdings10% weightC52B59Higher
Durability5% weightA75A92Higher

Rank among Clean Energy funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FAN 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 FAN 5th of 16 funds in the Clean Energy Category.

  1. Rank 1AICLNiShares Global Clean Energy ETFScore 81
  2. Rank 2AFRNWFidelity Clean Energy ETFScore 77
  3. Rank 4BIBATiShares Energy Storage & Materials ETFScore 65
  4. Rank 5BFANFirst Trust Global Wind Energy ETFScore 57
  5. Rank 6CQCLNFirst Trust NASDAQ Clean Edge Green Energy Index FundScore 55

Our read on each fund

ETF.net Research

FANBFirst Trust Global Wind Energy ETF

ICLNAiShares Global Clean Energy ETF

In short

FAN Wind, and only wind. Tracking a global index since 2008, FAN reserves 60% of the weight for pure-play turbine makers and wind-farm operators, with diversified multinationals taking the rest.

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

FAN The fund seeks to track, before fees and expenses, the price and yield performance of the ISE Clean Edge Global Wind Energy Index, an equity index focused on companies active in wind energy.

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

Why people hold it

  • FAN Broad clean-energy funds blend solar, storage and grid hardware. This index stays on wind: farm developers, power producers, and machinery built specifically for the industry.ftportfolios.com
  • The 60/40 split is deliberate, keeping smaller wind-only names (50%+ of revenue or generating capacity from wind) from being drowned out by multinationals with a wind division.ftportfolios.comsec.gov
  • Trading since June 2008, it predates most of the clean-energy shelf and has run through the theme's full boom and bust. Roughly 50 stocks worldwide, distributions paid quarterly.
  • One of the stronger overall builds in a crowded clean-energy peer group, and among the steadier ones in that group on measured risk.
  • 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

  • FAN 0.60% net of a waiver through January 31, 2027 (0.61% gross) sits near the category median, but above ICLN at 0.38% and FRNW at 0.39%, neither waiver-dependent.
  • One industry, roughly 50 global names. Turbine order books, power prices and policy shifts move this more than they move a diversified energy fund.
  • Assets and volume are moderate next to the category's largest funds, so spreads can widen; worth checking the quote before trading.
  • 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.comblackrock.com

Full FAN profile⁠

Full ICLN profile⁠

FAN vs ICLN Holdings

How FAN and ICLN differ

Overlap by weight

16.2%

Shared holdings make up 56.3% of FAN and 21.7% of ICLN.

Level by level

  • Sector16 Sectors0.0%
  • Holdings14 in both16.2%
  • Countryby domicile50.5%
  • Asset classEquity100%

Sector

Sector weights in FAN and ICLN, widest gap first
SectorMore in FANMore in ICLN
UtilitiesFAN +51.1 points
IndustrialsFAN +45.8 points
Renewable ElectricityICLN +27.6 points
Electric UtilitiesICLN +21.0 points
Heavy Electrical EquipmentICLN +15.6 points
SemiconductorsICLN +14.5 points
Electrical Components & EquipmentICLN +14.1 points
Semiconductor EquipmentICLN +4.6 points
Consumer DiscretionaryFAN +2.1 points
Oil & Gas Refining & Marketing & TransportationICLN +1.6 points
MaterialsFAN +0.6 points
EnergyFAN +0.5 points
SteelICLN +0.3 points
Construction & EngineeringICLN +0.3 points
Independent Power Producers & Energy TradersICLN +0.3 points
Industrial Machinery & Supplies & ComponentsICLN +0.1 points

Country, concentration and asset class

Country by domicile

Country weights in FAN and ICLN, widest gap first
CountryMore in FANMore in ICLN
United StatesICLN +22.7 points
GermanyFAN +11.7 points
DenmarkFAN +10.8 points
BrazilICLN +8.9 points
ItalyFAN +8.2 points
ChinaICLN +8.0 points
IndiaICLN +5.1 points
SpainFAN +3.8 points
Other countries (12)FAN +10.3 points

Outside the US: FAN 76% developed, 24% emerging. ICLN 36% developed, 64% emerging.

Concentration

Weight in the 10 largest Holdings

  • FAN54.8%
  • ICLN51.7%

Securities held

  • FAN45
  • ICLN102

Asset class

FAN
Equity
ICLN
Equity

Holdings

  • Only in FAN31
  • In both14
  • Only in ICLN88

Only in FAN

31 securities, 43.6% of FAN by weight

  • Cadeler A/S5.04%
  • Alliant Energy Corporation2.33%
  • NextEra Energy, Inc.2.25%

Only in ICLN

88 securities, 77.9% of ICLN by weight

  • First Solar8.60%
  • Nextpower Inc8.04%
  • Bloom Energy Class A6.20%

Weight gaps

All 14 Holdings in both funds, largest gap first.

Holding weights in FAN and ICLN, widest gap first
HoldingMore in FANMore in ICLN
Nordex SEFAN +7.02 points
EDP Renewables SAFAN +6.98 points
Orsted A/SFAN +6.70 points
China Longyuan Power Group Corporation Limited (Class H)FAN +4.81 points
Iberdrola S.A.ICLN +4.69 points
Vestas Wind Systems A/SFAN +4.20 points
ERG SpAFAN +3.85 points
CS Wind Corp.FAN +2.27 points

All 45 FAN 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.

FAN vs ICLN Cost

Overpaying FAN vs ICLN

$4,111

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

  • FAN 0.60%

    $11,817

  • ICLN 0.38%

    $7,706

$10,000
30 years

Cost over time

  • FAN 0.60%
  • ICLN 0.38%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530FAN $11,817ICLN $7,706

Year by year

YearFANICLNOverpaying
10$1,076$688$388
20$4,116$2,658$1,458
30$11,817$7,706$4,111

Expense ratio

  • 0.60%FAN
  • 0.38%ICLN, cheaper
  • Middle half of Clean Energy funds
  • Median 0.59%

ICLN cheapest of 16 funds

FAN 10th cheapest of 16 funds

FAN vs ICLN Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FAN 0.95%
ICLN 1.20%, better
Payout (12M)
FAN $0.21
ICLN $0.18
Last payment
FAN $0.07
ICLN $0.06
Ex-dividend
FAN Sep 24, 2026
ICLN Jun 15, 2026
Paid on
FAN Sep 30, 2026
ICLN Jun 18, 2026
Frequency
FAN Quarterly
ICLN Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FANQuarterly · 37 paymentsAll FAN payments⁠
One bar per payment. 37 payments from 2017 to 2026 YTD. Mar 23, 2017 $0.05; Jun 22, 2017 $0.24; Sep 21, 2017 $0.06; Mar 22, 2018 $0.04; Jun 21, 2018 $0.15; Sep 14, 2018 $0.06; Dec 18, 2018 $0.06; Mar 21, 2019 $0.09; Jun 14, 2019 $0.10; Sep 25, 2019 $0.06; Dec 13, 2019 $0.10; Mar 26, 2020 $0.04; Jun 25, 2020 $0.09; Sep 24, 2020 $0.03; Dec 24, 2020 $0.03; Mar 25, 2021 $0.05; Jun 24, 2021 $0.11; Sep 23, 2021 $0.14; Dec 23, 2021 $0.06; Mar 25, 2022 $0.03; Jun 24, 2022 $0.10; Sep 23, 2022 $0.09; Dec 23, 2022 $0.04; Mar 24, 2023 $0.04; Jun 27, 2023 $0.12; Sep 22, 2023 $0.08; Dec 22, 2023 $0.04; Mar 21, 2024 $0.03; Jun 27, 2024 $0.13; Sep 26, 2024 $0.05; Dec 13, 2024 $0.03; Mar 27, 2025 $0.02; Jun 26, 2025 $0.11; Sep 25, 2025 $0.09; Dec 12, 2025 $0.05; Jun 25, 2026 $0.09; Sep 24, 2026 $0.07. Use the arrow keys to read each point.$0$0.252017202020232026YTD
ICLNTwice a year · 21 paymentsAll ICLN payments⁠
One bar per payment. 21 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.14; Dec 21, 2017 $0.09; Jun 19, 2018 $0.12; Dec 18, 2018 $0.11; Jun 17, 2019 $0.08; Dec 16, 2019 $0.08; Jun 15, 2020 $0.05; Dec 14, 2020 $0.03; Dec 30, 2020 $0.01; Jun 10, 2021 $0.12; Dec 13, 2021 $0.11; Dec 30, 2021 $0.01; Jun 9, 2022 $0.14; Dec 13, 2022 $0.04; Jun 7, 2023 $0.12; Dec 20, 2023 $0.12; Jun 11, 2024 $0.10; Dec 17, 2024 $0.11; Jun 16, 2025 $0.14; Dec 16, 2025 $0.13; Jun 15, 2026 $0.06. Use the arrow keys to read each point.$0$0.252017202020232026YTD

FAN vs ICLN Risk

Fall from peak · 5 years

  • FAN
  • ICLN
Oct 29, 2021 to Oct 30, 2026. Worst fall: ICLN −57.1% · Apr 2025. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
FAN 20.3%, betterICLN 27.3%
Return per unit of riskSharpe ratio, 3 years
FAN 0.72, betterICLN 0.22
Worst fallMax drawdown, 5 years
FAN −37.9%, betterICLN −57.1%
Market sensitivityBeta, 5 years
FAN 0.98ICLN 1.49

FAN and ICLN in the news

All news⁠

Popular comparisons

  • FANBvsFRNWA

    First Trust Global Wind Energy ETF · Fidelity Clean Energy ETF

    Expense ratio
    0.60% · 0.39%
    Category
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  • ICLNAvsFRNWA

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    Category
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  • FANBvsCNRGB

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  • ICLNAvsCNRGB

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  • FANBvsIBATB

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  • ICLNAvsIBATB

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    Category
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