TAN
Invesco Solar ETF
Claymore/MAC Global Solar Energy Index ETF seeks investment results that correspond to the price and yield of the MAC Global Solar Energy Index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 1.3 B
ASSETS UNDER MGMT
67 bp
EXPENSES
Fund Basics
| Inception date | Apr 15, 2008 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| FIRST SOLAR INC | 12.1 % |
| NEXTRACKER, INC. CLASS A | 9.7 % |
| ENPHASE ENERGY INC | 8.2 % |
| ENLIGHT RENEWABLE ENERGY LTD | 7.3 % |
| SOLAREDGE TECHNOLOGIES, INC. | 5.9 % |
| SUNRUN INC. | 4.8 % |
| HANNON ARMSTRONG SUSTAINABLE | 4.0 % |
| DORAL GROUP RENEWABLE ENERGY RESOURCES L | 3.9 % |
| OY NOFAR ENERGY LTD ORDINARY SHARES | 3.5 % |
| SHOALS TECHNOLOGIES GROUP, INC. CLASS A | 3.5 % |
Constituent Breakdown
| Number of holdings | 42 |
| Herfindahl-Hirschman Index | 552 |
| Wgt avg mkt cap (mns) | $8,720 |
| Large cap (>$10bn) | 29.1% |
| Mid cap ($2-10bn) | 45.6% |
| Small cap (<$2bn) | 22.1% |
| Developed mkts. | 82.3% |
| Emerging mkts. | 14.4% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 53.5 % |
 |
ISRAEL | 13.6 % |
 |
CHINA | 6.7 % |
 |
SPAIN | 5.9 % |
 |
TAIWAN | 5.3 % |
 |
HONG KONG | 3.1 % |
 |
GERMANY | 2.3 % |
 |
CANADA | 1.5 % |
 |
NORWAY | 1.4 % |
 |
INDIA | 1.2 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -10.5% | 0.8% | 1.0% | -5.3% | -11.3% | 8.0% | -- | -9.2% |
| Dividend Yield | 0.0% | 0.0% | 0.2% | 0.2% | 0.1% | 0.9% | -- | 1.5% |
| Total Returns | -10.5% | 0.8% | 1.2% | -5.1% | -11.2% | 8.9% | -- | -7.7% | Ann. Volatility | 39.2% | 38.7% | 39.1% | 39.7% | 40.2% | 38.4% | -- | 44.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.94 | 42% |
| MSCI EAFE | 1.41 | 33% |
| MSCI Emg Mkts | 1.00 | 43% |
Liquidity Measures
| Avg. volume (000) | 1,034 |
| ADV traded (mns) | $44 |
| Turnover | 3.3% |
| Avg. Bid/Ask (% of price) | 0.10% |
Technical Indicators
| 30d moving avg. (EMA) | $53.33 |
| Relative strength (RSI) | 45 |
| MACD/Signal | -0.94/-1.40 |
| Bollinger Bands (Upper/Lower) | $54.79/$48.51 |
| Short interest (% of AUM) | 4.5% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. TAN |
Expenses vs. TAN |
ALTAR Score™ vs. TAN |
|---|---|---|---|---|
| FRNW | Fidelity Clean Energy ETF | 32.0% | -28 bp | -1.7% |
| ICLN | iShares Global Clean Energy ETF | 30.5% | -26 bp | -2.5% |
| ACES | ALPS Clean Energy ETF | 27.7% | -12 bp | -6.4% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 23.1% | -8 bp | -2.7% |
| CNRG | State Street SPDR S&P Kensho Clean Power ETF | 22.5% | -22 bp | -5.5% |
| PBD | Invesco Global Clean Energy ETF | 19.0% | +8 bp | -3.4% |
| RNRG | Global X Renewable Energy Producers ETF | 19.0% | -1 bp | -0.2% |
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 17.7% | -9 bp | -6.1% |
| CTEC | Global X CleanTech ETF | 14.6% | -17 bp | -3.5% |
| ETEC | iShares Breakthrough Environmental Solutions ETF | 13.2% | -20 bp | -2.6% |
Risk and Returns: TAN 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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025 | 2026 | 2027 | |
| 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 10/22/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
4.9%
ALTAR SCORE™
55th
PERCENTILE
NEUTRAL
ETFRC RATING
There are 738 funds in the Global Equity category with an average
ALTAR Score™ of 4.6% and a standard deviation
of 2.7%. TAN's ALTAR Score™ is approximately 0.1 standard
deviations above the category average. This places TAN in the 55th percentile
among funds in the category.
Sell-Side Consensus
$64.41
PRICE TARGET
+51.3%
UPSIDE