ICLN vs VIG: Correlation & Overlap
iShares Global Clean Energy ETF (ICLN) and Vanguard Dividend Appreciation ETF (VIG) show a moderate relationship: their 3-year correlation of weekly returns is 0.43. Looking through to holdings, 0% of the two portfolios is the same by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICLN and VIG?
On 3 years of weekly data the ICLN/VIG correlation comes out at 0.43, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.43 over 3. The 5-year figure is 0.51, and annualized covariance runs at 121.3 %².
By 3-year correlation, VIG places #46 of the 78 assets tracked against ICLN. The trailing year gives ICLN the advantage: +25.6% versus +17.1%, a 8.5-point spread. This link changes with the market regime, having swung between 0.20 and 0.75 on a rolling one-year basis. Note the risk asymmetry: ICLN runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VIG: side by side
| ICLN (iShares Global Clean Energy ETF) | VIG (Vanguard Dividend Appreciation ETF) | |
|---|---|---|
| 1-year return | +25.6% | +17.1% |
| 5-year return | -18.4% | +64.0% |
| Volatility (ann.) | 24.0% | 11.9% |
| Beta vs S&P 500 | 0.78 | 0.74 |
| Max drawdown (3Y) | -34.6% | -15.0% |
| Dividend yield | 1.05% | 1.50% |
| Expense ratio | 0.39% | 0.04% |
| Assets under management | $2.3B | $130.9B |
| Sector / category | ETF · Thematic | ETF · Dividend |
On the fund side, ICLN sits in the Miscellaneous Sector category at iShares, with $2.3B under management, 102 holdings, a 0.39% expense ratio, a 1.05% trailing dividend yield. VIG, Vanguard's Large Blend fund, carries $130.9B under management, 333 holdings, a 0.04% expense ratio, a 1.50% trailing dividend yield.
Portfolio overlap between ICLN and VIG
The two portfolios are largely distinct. Weighing the shared positions, 0% of the two funds is identical, spread across 0 common holdings. That shared book is a large part of why the returns line up.
Largest positions held only by ICLN: FSLR (7.87%), 600900 (7.64%), BE (7.36%), NXT (6.81%), ENPH (4.70%). Only by VIG: AVGO (4.65%), AAPL (4.47%), MSFT (4.35%), JPM (4.09%), LLY (3.94%).
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 | VIG |
|---|---|---|
| 2022 | -5.4% | -9.8% |
| 2023 | -20.4% | +14.5% |
| 2024 | -25.7% | +17.0% |
| 2025 | +47.0% | +14.2% |
| 2026 | +8.8% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLN and VIG good diversifiers for each other?
Reasonably. At 0.43, ICLN and VIG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ICLN and VIG?
As of 2026-08-27, the correlation of weekly returns between ICLN and VIG is 0.43 over 3 years, 0.40 over 1 year and 0.51 over 5 years.
Is VIG a good diversifier for ICLN?
Reasonably. At 0.43, ICLN and VIG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
How much do ICLN and VIG 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-vig.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/icln-vs-vig/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ICLN correlations · VIG correlations
