ICLN vs SPY

Comparison between ISHARES GLOBAL CLEAN ENERGY ETF (ICLN, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed ICLN, delivering a return of +13.3% compared to +0.6%

ICLN vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ICLN(ETF)	SPY(ETF)
Net Assets	$2.20B	$652B
Expense Ratio	0.39%	0.09%
Max Drawdown	88.31%	56.47%
Sharpe Ratio	2.33	2.07
5Y Beta	0.67	1.00
P/E Ratio	-4.14	28.24
Forward P/E	24.59	21.85
PEG Ratio	-0.00	N/A
5Y Dividends CAGR	18.37%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	-86.77%	22.35%
P/S Ratio	1.18	3.55
P/B Ratio	3.20	5.29

Net Assets

ICLN

$2.20B

Winner

SPY

$652B

Expense Ratio

ICLN

0.39%

Winner

SPY

0.09%

Max Drawdown

ICLN

88.31%

Winner

SPY

56.47%

Sharpe Ratio

Winner

ICLN

2.33

SPY

2.07

5Y Beta

Winner

ICLN

0.67

SPY

1.00

P/E Ratio

Winner

ICLN

-4.14

SPY

28.24

Forward P/E

ICLN

24.59

Winner

SPY

21.85

PEG Ratio

ICLN

-0.00

SPY

N/A

5Y Dividends CAGR

Winner

ICLN

18.37%

SPY

5.43%

5Y EPS CAGR

ICLN

N/A

SPY

25.79%

Debt to Equity

Winner

ICLN

-86.77%

SPY

22.35%

P/S Ratio

Winner

ICLN

1.18

SPY

3.55

P/B Ratio

Winner

ICLN

3.20

SPY

5.29

ICLN vs SPY - Holdings Comparison

ICLN and SPY have 2 common holdings. Overlap is -4.75%

ICLN's top 25 holdings weight is 80.92%. SPY's top 25 holdings weight is 51.32%.

Rank	ICLN	SPY
#1	BLOOM ENERGY CORP CLASS A (BE) - 11.13%	NVIDIA CORP (NVDA) - 8.45%
#2	FIRST SOLAR INC (FSLR) - 7.18%	APPLE INC (AAPL) - 6.48%
#3	NEXTPOWER INC CLASS A (NXT) - 6.85%	MICROSOFT CORP (MSFT) - 5.20%
#4	CHINA YANGTZE POWER CO LTD CLASS A (n/a) - 6.10%	AMAZON.COM INC (AMZN) - 4.14%
#5	EUR CASH (n/a) - 4.79%	ALPHABET INC CLASS A (GOOGL) - 3.32%
#6	EUR/USD PURCHASED (n/a) - 4.78%	BROADCOM INC (AVGO) - 3.09%
#7	PLUG POWER INC (PLUG) - 3.55%	ALPHABET INC CLASS C (GOOG) - 2.65%
#8	ENPHASE ENERGY INC (ENPH) - 3.51%	META PLATFORMS INC CLASS A (META) - 2.40%
#9	VESTAS WIND SYSTEMS AS (n/a) - 3.50%	TESLA INC (TSLA) - 1.73%
#10	EQUATORIAL SA (n/a) - 3.22%	BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43%
#11	SUZLON ENERGY LTD (n/a) - 2.39%	JPMORGAN CHASE & CO (JPM) - 1.37%
#12	EDP-ENERGIAS DE PORTUGAL SA (n/a) - 2.35%	ELI LILLY AND CO (LLY) - 1.13%
#13	BRL CASH (n/a) - 2.18%	EXXON MOBIL CORP (XOM) - 1.03%
#14	CHUBU ELECTRIC POWER CO INC (n/a) - 2.16%	MICRON TECHNOLOGY INC (MU) - 0.93%
#15	BRL/USD PURCHASED (n/a) - 2.07%	WALMART INC (WMT) - 0.91%
#16	CLEARWAY ENERGY INC CLASS C (CWEN) - 1.90%	JOHNSON & JOHNSON (JNJ) - 0.90%
#17	SOLAREDGE TECHNOLOGIES INC (SEDG) - 1.89%	ADVANCED MICRO DEVICES INC (AMD) - 0.86%
#18	ORSTED AS (n/a) - 1.78%	VISA INC CLASS A (V) - 0.85%
#19	n/a (n/a) - 1.53%	COSTCO WHOLESALE CORP (COST) - 0.72%
#20	ILS/USD PURCHASED (n/a) - 1.49%	MASTERCARD INC CLASS A (MA) - 0.67%
#21	ENLIGHT RENEWABLE ENERGY LTD (n/a) - 1.46%	INTEL CORP (INTC) - 0.65%
#22	KRW/USD PURCHASED (n/a) - 1.43%	NETFLIX INC (NFLX) - 0.64%
#23	n/a (n/a) - 1.32%	CATERPILLAR INC (CAT) - 0.62%
#24	n/a (n/a) - 1.24%	CHEVRON CORP (CVX) - 0.58%
#25	SOLARIA ENERGIA Y MEDIO AMBIENTE SA (n/a) - 1.12%	PROCTER & GAMBLE CO (PG) - 0.57%
Total Holdings	162	505

ICLN vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	ICLN	SPY
1 month	+14.25%	+9.11%
3 months	+11.13%	+6.59%
6 months	+20.76%	+10.56%
1 year	+80.19%	+32.04%
5 years(CAGR)	+0.57%	+13.35%
10 years(CAGR)	+11.37%	+15.49%
Max(CAGR)	-3.04%	+8.50%

Winner

ICLN

+14.25%

SPY

+9.11%

Winner

ICLN

+11.13%

SPY

+6.59%

Winner

ICLN

+20.76%

SPY

+10.56%

Winner

ICLN

+80.19%

SPY

+32.04%

5Y(CAGR)

ICLN

+0.57%

Winner

SPY

+13.35%

10Y(CAGR)

ICLN

+11.37%

Winner

SPY

+15.49%

Max(CAGR)

ICLN

-3.04%

Winner

SPY

+8.50%

ICLN vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	ICLN	SPY
2026	+23.74%	+8.27%
2025	+44.25%	+18.00%
2024	-24.85%	+25.59%
2023	-19.49%	+26.72%
2022	-6.16%	-18.64%
2021	-25.35%	+30.52%
2020	+138.15%	+17.28%
2019	+43.31%	+31.09%
2018	-10.37%	-5.24%
2017	+20.11%	+20.78%
2016	-16.14%	+13.59%
2015	+3.07%	+1.31%
2014	-6.04%	+14.56%
2013	+44.46%	+29.00%
2012	-15.01%	+14.17%
2011	-44.77%	+0.85%
2010	-29.17%	+13.14%
2009	-0.11%	+22.67%
2008	-59.33%	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

ICLN vs SPY Drawdown Comparison

The maximum drawdown for ICLN was -87.15%, occurring on Jul 25, 2012. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current ICLN drawdown is -42.35%.

Rank	ICLN	SPY
#1	-87.15% Jun 25, 2008 - Jul 25, 2012	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	N/A	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	N/A	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	N/A	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	N/A	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	N/A	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	N/A	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	N/A	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	N/A	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	N/A	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	N/A	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	N/A	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	N/A	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	N/A	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	N/A	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between ICLN and SPY is 0.40 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.40

-101

Dividend Comparison (1999 - 2026)

ICLN vs SPY dividend yield comparison.

Year	ICLN	SPY
2026	0.00%	0.24%
2025	1.63%	1.07%
2024	1.85%	1.21%
2023	1.59%	1.40%
2022	0.89%	1.65%
2021	1.18%	1.20%
2020	0.34%	1.52%
2019	1.36%	1.75%
2018	2.77%	2.04%
2017	2.49%	1.80%
2016	3.88%	2.03%
2015	2.36%	2.06%
2014	2.83%	1.87%
2013	2.11%	1.81%
2012	3.85%	2.18%
2011	4.69%	2.05%
2010	1.90%	1.80%
2009	1.31%	1.95%
2008	0.29%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%