Overview
Clean energy worldwide — solar, wind, hydrogen and renewable utilities across ~138 companies, the sector's flagship fund through boom and bust.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| FSLR | First Solar | 7.8% |
| ENPH | Enphase Energy | 5.4% |
| VWS | Vestas Wind Systems | 5.1% |
| ORSTED | Orsted A/S | 4.6% |
| CEG | Constellation Energy | 4.2% |
| IBE | Iberdrola SA | 3.9% |
| NEE | NextEra Energy | 3.6% |
| EDPR | EDP Renovaveis | 2.9% |
| PLUG | Plug Power | 2.1% |
| 968 | Xinyi Solar | 1.9% |
Fund Details
Investment Thesis
After three years as the market's most punished theme, clean energy found its unexpected saviour: AI's bottomless power demand, which turns every renewable megawatt into a data-centre contract. ICLN's +18% year is the rerating off deeply washed-out levels. It remains policy-sensitive and volatile — but the buyer of last resort is now the hyperscaler, not the subsidy.
Who It's For
Energy-transition investors re-entering after the washout, with the AI-power-demand thesis as the new engine. Volatility scars included; size like a theme, not a core.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $8.54 | -- |
| 2017 | $10.33 | +21.0% |
| 2018 | $9.40 | -9.0% |
| 2019 | $13.54 | +44.0% |
| 2020 | $32.50 | +140.0% |
| 2021 | $24.70 | -24.0% |
| 2022 | $23.21 | -6.0% |
| 2023 | $18.34 | -21.0% |
| 2024 | $13.57 | -26.0% |
| 2025 | $15.20 | +12.0% |
| Year | Yield |
|---|---|
| 2016 | 2.40% |
| 2017 | 2.10% |
| 2018 | 2.40% |
| 2019 | 1.90% |
| 2020 | 0.80% |
| 2021 | 0.90% |
| 2022 | 1.30% |
| 2023 | 1.50% |
| 2024 | 1.40% |
| 2025 | 1.20% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.2B | -- |
| 2017 | $0.3B | +50.0% |
| 2018 | $0.3B | +0.0% |
| 2019 | $0.5B | +66.7% |
| 2020 | $4B | +700.0% |
| 2021 | $5.5B | +37.5% |
| 2022 | $5B | -9.1% |
| 2023 | $3B | -40.0% |
| 2024 | $1.8B | -40.0% |
| 2025 | $1.9B | +5.6% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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