ICLN vs VT: Correlation & Overlap
How closely do iShares Global Clean Energy ETF (ICLN) and Vanguard Total World Stock ETF (VT) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate. By holdings, the two funds overlap 0.3% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICLN and VT?
Across a 3-year window, the weekly returns of ICLN and VT correlate at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 183.6 %².
Among the 78 assets we track against ICLN, VT ranks #19 by 3-year correlation. Neither side won the trailing year by much: +25.6% against +22.7%. On a rolling one-year basis the correlation drifted between 0.38 and 0.79, a moderate band. Risk is not evenly split, since ICLN carries 1.7 times the volatility of the other side.
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 VT: side by side
| ICLN (iShares Global Clean Energy ETF) | VT (Vanguard Total World Stock ETF) | |
|---|---|---|
| 1-year return | +25.6% | +22.7% |
| 5-year return | -18.4% | +67.7% |
| Volatility (ann.) | 24.0% | 13.9% |
| Beta vs S&P 500 | 0.78 | 0.92 |
| Max drawdown (3Y) | -34.6% | -16.5% |
| Dividend yield | 1.05% | 1.59% |
| Expense ratio | 0.39% | 0.06% |
| Assets under management | $2.3B | $97.9B |
| Sector / category | ETF · Thematic | ETF · Global |
ICLN is a Miscellaneous Sector fund from iShares: $2.3B under management, 102 holdings, a 0.39% expense ratio, a 1.05% trailing dividend yield. VT is a Global Large-Stock Blend fund from Vanguard: $97.9B under management, 5308 holdings, a 0.06% expense ratio, a 1.59% trailing dividend yield.
Portfolio overlap between ICLN and VT
The two portfolios are largely distinct, with 43 holdings in common adding up to 0.3% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in ICLN | Weight in VT |
|---|---|---|
| BE | 7.36% | 0.05% |
| NXT | 6.81% | 0.04% |
| VWS | 4.36% | 0.02% |
| FSLR | 7.87% | 0.02% |
| EDP | 2.87% | 0.02% |
| 9502 | 2.68% | 0.01% |
| ENLT | 2.04% | 0.01% |
| ORSTED | 1.60% | 0.01% |
| EQTL3 | 3.09% | 0.01% |
| 600900 | 7.64% | 0.01% |
| SUZLON | 1.99% | 0.01% |
| NDX1 | 1.45% | 0.00% |
| ENGI11 | 1.35% | 0.00% |
| CEN | 0.32% | 0.00% |
| TE | 0.88% | 0.00% |
Largest positions held only by ICLN: SEDG (1.87%), SHLS (1.14%), GPRE (0.97%), WAAREEENER (0.81%), PREMIERENE (0.79%). Only by VT: NVDA (4.20%), AAPL (4.00%), MSFT (3.09%), AMZN (2.36%), GOOGL (1.89%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | ICLN | VT |
|---|---|---|
| 2022 | -5.4% | -18.0% |
| 2023 | -20.4% | +22.0% |
| 2024 | -25.7% | +16.5% |
| 2025 | +47.0% | +22.4% |
| 2026 | +8.8% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLN and VT good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ICLN and VT?
As of 2026-08-27, the correlation of weekly returns between ICLN and VT is 0.55 over 3 years, 0.60 over 1 year and 0.61 over 5 years.
Is VT a good diversifier for ICLN?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
How much do ICLN and VT overlap?
0.3% by weight, across 43 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
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Related comparisons
Hubs: ICLN correlations · VT correlations
