ICLN vs SOXX: Correlation & Overlap
Measured on weekly returns over the past three years, iShares Global Clean Energy ETF (ICLN) and iShares Semiconductor ETF (SOXX) carry a correlation of 0.53, a moderate link. The two funds also share 0% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICLN and SOXX?
On 3 years of weekly data the ICLN/SOXX correlation comes out at 0.53, moderate. The link has tightened recently: the 1-year correlation (0.65) runs above the 3-year figure (0.53). The 5-year figure is 0.51, and annualized covariance runs at 449.0 %².
By 3-year correlation, SOXX places #26 of the 78 assets tracked against ICLN. Their recent paths diverged sharply: over the last 12 months SOXX outperformed by 84.4 percentage points (+25.6% for ICLN against +110.0% for SOXX). The rolling one-year correlation moved between 0.39 and 0.66 over the past three years, a moderate range.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ICLN vs SOXX: side by side
| ICLN (iShares Global Clean Energy ETF) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +25.6% | +110.0% |
| 5-year return | -18.4% | +247.5% |
| Volatility (ann.) | 24.0% | 35.2% |
| Beta vs S&P 500 | 0.78 | 1.93 |
| Max drawdown (3Y) | -34.6% | -41.4% |
| Dividend yield | 1.05% | 0.29% |
| Expense ratio | 0.39% | 0.33% |
| Assets under management | $2.3B | $44.7B |
| Sector / category | ETF · Thematic | ETF · Thematic |
ICLN, iShares's Miscellaneous Sector fund, carries $2.3B under management, 102 holdings, a 0.39% expense ratio, a 1.05% trailing dividend yield. On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Portfolio overlap between ICLN and SOXX
The two portfolios are largely distinct, with 0 holdings in common adding up to 0% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
Largest positions held only by ICLN: FSLR (7.87%), 600900 (7.64%), BE (7.36%), NXT (6.81%), ENPH (4.70%). Only by SOXX: NVDA (8.87%), MU (8.64%), AMD (8.33%), AVGO (7.11%), MRVL (5.34%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26.
Year-by-year returns
| Year | ICLN | SOXX |
|---|---|---|
| 2022 | -5.4% | -35.1% |
| 2023 | -20.4% | +67.1% |
| 2024 | -25.7% | +12.9% |
| 2025 | +47.0% | +40.7% |
| 2026 | +8.8% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLN and SOXX good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ICLN and SOXX?
As of 2026-08-27, the correlation of weekly returns between ICLN and SOXX is 0.53 over 3 years, 0.65 over 1 year and 0.51 over 5 years.
Is SOXX a good diversifier for ICLN?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
How much do ICLN and SOXX overlap?
The two funds share 0 holdings amounting to 0% of weight, per issuer portfolio files dated 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/icln-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/icln-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ICLN correlations · SOXX correlations
