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ICLN vs KGRN

iShares Global Clean Energy ETF

ICLNANasdaq

KraneShares MSCI China Clean Technology Index ETF

KGRNFNYSE Arca

Overlap

11.2%by weight

Expense ratio

ICLN −0.41pt a year

ICLN0.38%KGRN0.79%

Avg volume · 30D

ICLN 467.6×the volume

ICLN6.25MKGRN13.4K

5Y return · a year

ICLN +6.6pt

ICLN−8.3%KGRN−14.9%

ICLN vs KGRN Performance

Oct 29, 2021 – Oct 30, 2026

−35.2%ICLN−55.3%KGRN

Oct 29, 2021 to Oct 30, 2026. ICLN −35.2%. KGRN −55.3%. Use the arrow keys to read each point.−20%−10%0%Oct 2021Apr 2024Oct 2026
Expense ratio
ICLN 0.38%, better
KGRN 0.79%
Fund size
ICLN $1.94B
KGRN $42M
1Y total return
ICLN −10.6%, better
KGRN −31.0%
Yield (12M)
ICLN 1.20%, better
KGRN 1.11%
Holdings
ICLN 124
KGRN 51
Avg volume (30D)
ICLN 6.25M sh, better
KGRN 13.4K sh
NAV per share
ICLN $15.35
KGRN $20.92
52W range

ETF.net Grade

ICLN: Cost 100, Risk 55, Mission not scored, Tradability 84, Holdings 59, Durability 92. KGRN: Cost 0, Risk 45, Mission not scored, Tradability 16, Holdings 40, Durability 25.
Pillar letters and Scores for ICLN, KGRN, with each pillar’s weight
PillarICLNKGRN
Cost30% weightA100HigherF0
Mission25% weightNot scoredNot scored
Risk15% weightB55HigherC45
Tradability15% weightA84HigherF16
Holdings10% weightB59HigherC40
Durability5% weightA92HigherD25

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. ICLN and KGRN 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 KGRN 16th 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 15DRNRGGlobal X Renewable Energy Producers ETFScore 30
  4. Rank 16FKGRNKraneShares MSCI China Clean Technology Index ETFScore 19

Our read on each fund

ETF.net Research

ICLNAiShares Global Clean Energy ETF

KGRNFKraneShares MSCI China Clean Technology Index ETF

In short

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.

KGRN The clean-energy shelf is mostly global funds. KGRN goes one country deep: an MSCI index of roughly 50 Chinese environmental-technology names, run by a shop that does nothing but China.

Stated mandate

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

KGRN The fund seeks to follow the performance of the MSCI China IMI Environment 10/40 Index.

Why people hold it

  • 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.
  • KGRN Single-country by design: it follows the MSCI China IMI Environment 10/40 Index, while most clean-energy peers spread their bets across global markets.
  • Run by KraneShares, a China-focused specialist, and trading since 2017, so it carries a live record through several China market cycles.
  • About 50 holdings keeps the theme legible: China clean tech is the whole portfolio, not a sliver buried inside a global basket.

Worth knowing

  • 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
  • KGRN At 0.79% a year, it costs more than the clean-energy median of 0.59% and roughly double broad peers ICLN and FRNW at 0.39%.
  • Thinly traded next to the category's largest funds, which can show up as wider bid-ask spreads and more cost around the trade itself.
  • One country, about 50 stocks: Chinese policy shifts, regulation and currency moves flow straight through with no global diversification to soften them.

Full ICLN profile⁠

Full KGRN profile⁠

ICLN vs KGRN Holdings

How ICLN and KGRN differ

Overlap by weight

11.2%

Shared holdings make up 28.1% of KGRN and 11.2% of ICLN.

Level by level

  • Sector16 Sectors0.0%
  • Holdings9 in both11.2%
  • Countryby domicile18.8%
  • Asset classEquity100%

Sector

Sector weights in ICLN and KGRN, widest gap first
SectorMore in ICLNMore in KGRN
UtilitiesKGRN +46.2 points
Renewable ElectricityICLN +27.6 points
IndustrialsKGRN +26.3 points
Electric UtilitiesICLN +21.0 points
Consumer DiscretionaryKGRN +16.6 points
Heavy Electrical EquipmentICLN +15.6 points
SemiconductorsICLN +14.5 points
Electrical Components & EquipmentICLN +14.1 points
TechnologyKGRN +6.6 points
Semiconductor EquipmentICLN +4.6 points
EnergyKGRN +4.1 points
Oil & Gas Refining & Marketing & TransportationICLN +1.6 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 ICLN and KGRN, widest gap first
CountryMore in ICLNMore in KGRN
ChinaKGRN +73.2 points
United StatesICLN +38.2 points
BrazilICLN +8.9 points
SpainICLN +8.4 points
Hong KongKGRN +8.0 points
IndiaICLN +5.4 points
DenmarkICLN +5.1 points
IsraelICLN +4.0 points
Other countries (5)ICLN +11.2 points

Outside the US: ICLN 36% developed, 64% emerging. KGRN 8% developed, 92% emerging.

Concentration

Weight in the 10 largest Holdings

  • ICLN51.7%
  • KGRN59.0%

Securities held

  • ICLN102
  • KGRN48

Asset class

ICLN
Equity
KGRN
Equity

Holdings

  • Only in ICLN93
  • In both9
  • Only in KGRN39

Only in ICLN

93 securities, 88.4% of ICLN by weight

  • First Solar8.60%
  • Nextpower Inc8.04%
  • Iberdrola7.04%

Only in KGRN

39 securities, 71.5% of KGRN by weight

  • Cgn Power Co Ltd-H12.10%
  • Byd Co Ltd-H7.29%
  • China National Nuclear Pow-A5.52%

Weight gaps

All 9 Holdings in both funds, largest gap first.

Holding weights in ICLN and KGRN, widest gap first
HoldingMore in ICLNMore in KGRN
China Yangtze Power Ltd AKGRN +4.94 points
China Longyuan Power Group HKGRN +3.33 points
Sichuan Chuantou Energy Ltd AKGRN +2.27 points
Sungrow Power Supply Ltd AKGRN +2.02 points
China Three Gorges Renewables(GrouKGRN +1.44 points
Longi Green Energy Technology AKGRN +1.33 points
Jinko Solar Ltd AKGRN +0.62 points
Tcl Zhonghuan Renewable Energy TecKGRN +0.51 points

All 103 ICLN holdings⁠All 50 KGRN 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.

ICLN vs KGRN Cost

Overpaying KGRN vs ICLN

$7,468

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

  • ICLN 0.38%

    $7,706

  • KGRN 0.79%

    $15,174

$10,000
30 years

Cost over time

  • ICLN 0.38%
  • KGRN 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530KGRN $15,174ICLN $7,706

Year by year

YearICLNKGRNOverpaying
10$688$1,405$717
20$2,658$5,331$2,673
30$7,706$15,174$7,468

Expense ratio

  • 0.38%ICLN, cheaper
  • 0.79%KGRN
  • Middle half of Clean Energy funds
  • Median 0.59%

ICLN cheapest of 16 funds

KGRN 16th cheapest of 16 funds

ICLN vs KGRN Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ICLN 1.20%, better
KGRN 1.11%
Payout (12M)
ICLN $0.18
KGRN $0.23
Last payment
ICLN $0.06
KGRN $0.23
Ex-dividend
ICLN Jun 15, 2026
KGRN Dec 22, 2025
Paid on
ICLN Jun 18, 2026
KGRN Dec 23, 2025
Frequency
ICLN Twice a year
KGRN Annual

Distribution history

Per share, 2017 to 2026, same scale for both

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$12017202020232026YTD
KGRNAnnual · 8 paymentsAll KGRN payments⁠
One bar per payment. 8 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.36; Dec 27, 2019 $1.09; Dec 29, 2020 $0.003; Dec 29, 2021 $0.19; Dec 28, 2022 $0.44; Dec 18, 2023 $0.17; Dec 17, 2024 $0.33; Dec 22, 2025 $0.23. Use the arrow keys to read each point.$0$12017202020232026YTD

ICLN vs KGRN Risk

Fall from peak · 5 years

  • ICLN
  • KGRN
Oct 29, 2021 to Oct 30, 2026. Worst fall: KGRN −63.7% · Feb 2024. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
ICLN 27.3%KGRN 27.3%Same figure. Both funds show the same value, so neither comes out ahead.
Return per unit of riskSharpe ratio, 3 years
ICLN 0.22, betterKGRN −0.14
Worst fallMax drawdown, 5 years
ICLN −57.1%, betterKGRN −63.7%
Market sensitivityBeta, 5 years
ICLN 1.49KGRN 0.62

ICLN and KGRN in the news

All news⁠

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