ICLN
iShares Global Clean Energy ETF
iShares S&P Global Clean Energy Index Fund is an exchange-traded fund incorporat ed in the USA. The Fund seeks investment results that correspond to the price and yield performance of the S&P Global Clean Energy Index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
2.0 B
ASSETS UNDER MGMT
41 bp
EXPENSES
Fund Basics
| Fund sponsor | Barclays Global Fund Advisors |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 24, 2008 |
| Assets (mns) | $2,010 |
| Expense ratio | 41 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| BLOOM ENERGY CORPORATION CLASS A | 11.2 % |
| FIRST SOLAR INC | 8.5 % |
| NEXTRACKER, INC. CLASS A | 6.6 % |
| IBERDROLA SA | 5.9 % |
| VESTAS WIND SYSTEMS A/S | 4.6 % |
| EDP-ENERGIAS DE PORTUGAL SA | 3.6 % |
| CHINA YANGTZE POWER CO LTD-A | 3.4 % |
| SUZLON ENERGY LIMITED | 3.3 % |
| CHUBU ELECTRIC POWER CO INC | 3.3 % |
| EQUATORIAL ENERGIA SA - ORD | 3.2 % |
Constituent Breakdown
| Number of holdings | 101 |
| Herfindahl-Hirschman Index | 401 |
| Wgt avg mkt cap (mns) | $21,703 |
| Large cap (>$10bn) | 49.8% |
| Mid cap ($2-10bn) | 35.7% |
| Small cap (<$2bn) | 7.3% |
| Developed mkts. | 68.3% |
| Emerging mkts. | 24.8% |
Country Exposure
 |
UNITED STATES | 37.9 % |
 |
SPAIN | 8.2 % |
 |
BRAZIL | 8.1 % |
 |
CHINA | 8.1 % |
 |
DENMARK | 6.8 % |
 |
INDIA | 5.6 % |
 |
PORTUGAL | 3.6 % |
 |
JAPAN | 3.4 % |
 |
CANADA | 3.1 % |
 |
GERMANY | 1.7 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 52.0% | 32.1% | 15.3% | -2.9% | -2.4% | 5.8% | -- | -6.2% |
| Dividend Yield | 1.6% | 2.7% | 2.0% | 1.4% | 1.2% | 1.9% | -- | 1.9% |
| Total Returns | 53.6% | 34.8% | 17.3% | -1.5% | -1.2% | 7.8% | -- | -4.3% | Ann. Volatility | 22.4% | 23.4% | 24.3% | 24.1% | 29.0% | 26.9% | -- | 32.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.16 | 34% |
| MSCI EAFE | 0.96 | 30% |
| MSCI Emg Mkts | 0.77 | 23% |
Liquidity Measures
| Avg. volume (000) | 3,656 |
| ADV traded (mns) | $65 |
| Turnover | 3.2% |
| Avg. Bid/Ask (% of price) | 0.06% |
Technical Indicators
| Recent close | $17.77 |
| 30d moving avg. | $16.17 |
| Annualized volatility | 25.8% |
| Relative strength (RSI) | 67 |
| Short interest | 5.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| FRNW | Fidelity Clean Energy ETF | 51.7% | -2 bp | +2.1% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 44.9% | +18 bp | +3.9% |
| CTEC | Global X CleanTech ETF | 35.1% | +9 bp | +0.5% |
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 31.9% | +17 bp | -1.9% |
| SMOG | VanEck Low Carbon Energy ETF | 28.9% | +20 bp | +1.5% |
| CNRG | SPDR S&P Kensho Clean Power ETF | 24.8% | +4 bp | +1.5% |
| TAN | Invesco Solar ETF | 24.6% | +26 bp | +5.6% |
| ACES | ALPS Clean Energy ETF | 23.9% | +14 bp | -2.5% |
| FAN | First Trust Global Wind Energy ETF | 20.2% | +19 bp | +4.0% |
| PBD | Invesco Global Clean Energy ETF | 19.7% | +34 bp | +0.8% |
Risk and Returns: ICLN vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/7/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
ICLN
3.0%
Cat. Avg
4.3%
ALTAR Score™ Calculation
Category Overview
There are 369 funds in the Global Equity category, with an average ALTAR Score™
of 4.3% and a standard deviation of
3.1%. ICLN's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places ICLN in the 34th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
ICLNSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 177 |
| Avg. Expense Ratio | 55.1 bp |
| Std. Deviation | 18.1 bp |
| ICLN (41 bp) Percentile rank | 22 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ICLN | 41.0 | 6.1 | 47.1 |
| Peer Avg. | 55.1 | 39.5 | 94.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .