TAN vs SPY
Comparison between INVESCO SOLAR ETF (TAN, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed TAN, delivering a return of +13.3% compared to -3.7%
TAN vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
TAN
$1.50B
Winner
SPY
$652B
Expense Ratio
TAN
0.70%
Winner
SPY
0.09%
Max Drawdown
TAN
95.67%
Winner
SPY
56.47%
Sharpe Ratio
TAN
2.06
Winner
SPY
2.07
5Y Beta
Winner
TAN
0.93
SPY
1.00
P/E Ratio
TAN
109.68
Winner
SPY
28.24
Forward P/E
Winner
TAN
19.15
SPY
21.85
PEG Ratio
TAN
0.36
SPY
N/A
5Y Dividends CAGR
TAN
-5.57%
Winner
SPY
5.43%
5Y EPS CAGR
TAN
N/A
SPY
25.79%
Debt to Equity
TAN
64.84%
Winner
SPY
22.35%
P/S Ratio
Winner
TAN
0.29
SPY
3.55
P/B Ratio
Winner
TAN
1.64
SPY
5.29
TAN vs SPY - Holdings Comparison
TAN and SPY have 2 common holdings. Overlap is 0.03%
TAN's top 25 holdings weight is 93.46%. SPY's top 25 holdings weight is 51.32%.
| Rank | TAN | SPY |
|---|---|---|
| #1 | FIRST SOLAR INC (FSLR) - 10.14% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | NEXTPOWER INC CLASS A (NXT) - 9.43% | APPLE INC (AAPL) - 6.48% |
| #3 | ENLIGHT RENEWABLE ENERGY LTD (n/a) - 6.63% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | ENPHASE ENERGY INC (ENPH) - 5.65% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | SUNRUN INC (RUN) - 5.26% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | SOLAREDGE TECHNOLOGIES INC (SEDG) - 5.00% | BROADCOM INC (AVGO) - 3.09% |
| #7 | GCL TECHNOLOGY HOLDINGS LTD (n/a) - 4.63% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | SOLARIA ENERGIA Y MEDIO AMBIENTE SA (n/a) - 4.42% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | HA SUSTAINABLE INFRASTRUCTURE CAPITAL INC (HASI) - 4.40% | TESLA INC (TSLA) - 1.73% |
| #10 | DORAL GROUP RENEWABLE ENERYY RESOURCES LTD ORDINARY SHARES (n/a) - 3.53% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | CLEARWAY ENERGY INC CLASS C (CWEN) - 3.34% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | XINYI SOLAR HOLDINGS LTD (n/a) - 3.19% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | GRENERGY RENOVABLES SA (n/a) - 2.89% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | OY NOFAR ENERGY LTD ORDINARY SHARES (n/a) - 2.77% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | ARRAY TECHNOLOGIES INC ORDINARY SHARES (ARRY) - 2.51% | WALMART INC (WMT) - 0.91% |
| #16 | DAQO NEW ENERGY CORP ADR (DQ) - 2.43% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | SHOALS TECHNOLOGIES GROUP INC ORDINARY SHARES CLASS A (SHLS) - 2.40% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | SCATEC ASA ORDINARY SHARES (n/a) - 2.19% | VISA INC CLASS A (V) - 0.85% |
| #19 | ENERGIX-RENEWABLE ENERGIES LTD (n/a) - 2.12% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | SMA SOLAR TECHNOLOGY AG (n/a) - 2.11% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | UNITED RENEWABLE ENERGY CO LTD (n/a) - 2.08% | INTEL CORP (INTC) - 0.65% |
| #22 | JINKOSOLAR HOLDING CO LTD DR (JKS) - 1.81% | NETFLIX INC (NFLX) - 0.64% |
| #23 | HD HYUNDAI ENERGY SOLUTIONS CO LTD ORDINARY SHARES (n/a) - 1.60% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | TSEC CORP (n/a) - 1.54% | CHEVRON CORP (CVX) - 0.58% |
| #25 | FLAT GLASS GROUP CO LTD SHS -H- REG S (n/a) - 1.39% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 42 | 505 |
TAN vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
TAN
+11.64%
SPY
+9.11%
3M
TAN
+5.48%
Winner
SPY
+6.59%
6M
Winner
TAN
+22.92%
SPY
+10.56%
1Y
Winner
TAN
+101.56%
SPY
+32.04%
5Y(CAGR)
TAN
-3.68%
Winner
SPY
+13.35%
10Y(CAGR)
TAN
+12.02%
Winner
SPY
+15.49%
Max(CAGR)
TAN
-6.06%
Winner
SPY
+8.50%
TAN vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | TAN | SPY |
|---|---|---|
| 2026 | +20.04% | +8.27% |
| 2025 | +41.43% | +18.00% |
| 2024 | -36.09% | +25.59% |
| 2023 | -26.01% | +26.72% |
| 2022 | -7.07% | -18.64% |
| 2021 | -26.67% | +30.52% |
| 2020 | +222.03% | +17.28% |
| 2019 | +64.40% | +31.09% |
| 2018 | -27.28% | -5.24% |
| 2017 | +50.84% | +20.78% |
| 2016 | -43.47% | +13.59% |
| 2015 | -8.44% | +1.31% |
| 2014 | -8.24% | +14.56% |
| 2013 | +117.08% | +29.00% |
| 2012 | -35.20% | +14.17% |
| 2011 | -63.84% | +0.85% |
| 2010 | -30.79% | +13.14% |
| 2009 | +10.57% | +22.67% |
| 2008 | -66.18% | -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% |
TAN vs SPY Drawdown Comparison
The maximum drawdown for TAN was -95.29%, occurring on Nov 20, 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 TAN drawdown is -71.53%.
| Rank | TAN | SPY |
|---|---|---|
| #1 | -95.29% May 16, 2008 - Nov 20, 2012 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -6.53% Apr 16, 2008 - May 13, 2008 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -0.10% May 14, 2008 - May 16, 2008 | -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 TAN and SPY is 0.07 which considered as a very weak or no correlation - the stocks move independently of each other.
0.07
-101
Dividend Comparison (1999 - 2026)
TAN vs SPY dividend yield comparison.
| Year | TAN | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 0.00% | 1.07% |
| 2024 | 0.50% | 1.21% |
| 2023 | 0.09% | 1.40% |
| 2022 | 0.00% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 0.09% | 1.52% |
| 2019 | 0.30% | 1.75% |
| 2018 | 0.69% | 2.04% |
| 2017 | 1.77% | 1.80% |
| 2016 | 5.04% | 2.03% |
| 2015 | 1.60% | 2.06% |
| 2014 | 1.88% | 1.87% |
| 2013 | 1.28% | 1.81% |
| 2012 | 9.10% | 2.18% |
| 2011 | 8.54% | 2.05% |
| 2010 | 0.40% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.14% | 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% |
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