ICLN vs SPY
iShares Global Clean Energy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. ICLN delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | ICLN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.09% | |
| AUM | $2.3B | $789.1B | |
| Dividend Yield | 0.90% | 1.01% | |
| Holdings | 152 | 505 | |
| YTD Return | +7.95% | +13.68% | |
| 1Y Return | +35.10% | +21.53% | |
| 3Y Return (annualized) | +4.94% | +21.44% | |
| 5Y Return (annualized) | -2.72% | +13.18% | |
| Volatility (annualized) | 30.9% | 15.3% | |
| Max Drawdown | -88.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 24, 2008 | Jan 22, 1993 |
ICLN vs SPY Performance
iShares Global Clean Energy ETF (ICLN) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ICLN returned +35.10% while SPY returned +21.53%. Year to date, ICLN is up 7.95% versus a gain of 13.68% for SPY.
Over three years, ICLN compounded at +4.94% per year against +21.44% for SPY; over five years the annualized figures are -2.72% and +13.18% respectively. Across the full 18-year window we track, SPY has the edge at +8.85% annualized vs -5.21%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ICLN has been the more volatile fund, with annualized monthly volatility of 30.9% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -88.3% for ICLN and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ICLN charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, ICLN currently yields 0.90% against 1.01% for SPY.
Holdings Overlap
ICLN and SPY share 1 holdings out of 607 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in ICLN | Weight in SPY | Difference |
|---|---|---|---|
| FSLR | 8.47% | 0.04% | 8.43% |
Frequently Asked Questions
Which is cheaper, ICLN or SPY?
ICLN has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, ICLN or SPY?
Over the past year ICLN returned +35.10% vs +21.53% for SPY, so ICLN leads on 1-year performance. Over the longest common window we track (18 years), ICLN annualized -5.21% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, ICLN or SPY?
ICLN has been the more volatile fund at 30.9% annualized versus 15.3% for SPY. Worst drawdown: ICLN -88.3% vs SPY -56.5%.
Should I hold both ICLN and SPY?
ICLN and SPY have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ICLN and SPY?
ICLN and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 607 unique securities.
Which pays a higher dividend, ICLN or SPY?
ICLN yields 0.90% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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