ICLN vs VTI: Correlation & Overlap
Measured on weekly returns over the past three years, iShares Global Clean Energy ETF (ICLN) and Vanguard Total Stock Market ETF (VTI) carry a correlation of 0.49, a moderate link. Looking through to holdings, 0.1% 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 VTI?
On 3 years of weekly data the ICLN/VTI correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 170.6 %².
By 3-year correlation, VTI places #31 of the 78 assets tracked against ICLN. Neither side won the trailing year by much: +25.6% against +20.7%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.23 to 0.74. Note the risk asymmetry: ICLN runs 1.6 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 VTI: side by side
| ICLN (iShares Global Clean Energy ETF) | VTI (Vanguard Total Stock Market ETF) | |
|---|---|---|
| 1-year return | +25.6% | +20.7% |
| 5-year return | -18.4% | +74.8% |
| Volatility (ann.) | 24.0% | 14.6% |
| Beta vs S&P 500 | 0.78 | 1.01 |
| Max drawdown (3Y) | -34.6% | -19.3% |
| Dividend yield | 1.05% | 1.06% |
| Expense ratio | 0.39% | 0.03% |
| Assets under management | $2.3B | $2,290.0B |
| Sector / category | ETF · Thematic | ETF · US Large Cap |
ICLN, iShares's Miscellaneous Sector fund, carries $2.3B under management, 102 holdings, a 0.39% expense ratio, a 1.05% trailing dividend yield. VTI, Vanguard's Large Blend fund, carries $2,290.0B under management, 3140 holdings, a 0.03% expense ratio, a 1.06% trailing dividend yield.
Portfolio overlap between ICLN and VTI
The two portfolios are largely distinct: 0.1% of the funds' weight sits in the same underlying holdings (11 common positions). Correlation tells you they move together; overlap tells you why.
| Common holding | Weight in ICLN | Weight in VTI |
|---|---|---|
| BE | 7.36% | 0.08% |
| FSLR | 7.87% | 0.03% |
| NXT | 6.81% | 0.02% |
| ENPH | 4.70% | 0.01% |
| CWEN | 1.97% | 0.01% |
| PLUG | 2.81% | 0.00% |
| SHLS | 1.14% | 0.00% |
| REX | 0.36% | 0.00% |
| GPRE | 0.97% | 0.00% |
| TE | 0.88% | 0.00% |
| ARRY | 0.67% | 0.00% |
Largest positions held only by ICLN: 600900 (7.64%), VWS (4.36%), EQTL3 (3.09%), EDP (2.87%), 9502 (2.68%). Only by VTI: NVDA (6.42%), AAPL (6.31%), MSFT (4.80%), AMZN (3.66%), GOOGL (2.91%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 11 common positions shown.
Year-by-year returns
| Year | ICLN | VTI |
|---|---|---|
| 2022 | -5.4% | -19.5% |
| 2023 | -20.4% | +26.0% |
| 2024 | -25.7% | +23.8% |
| 2025 | +47.0% | +17.1% |
| 2026 | +8.8% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLN and VTI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ICLN and VTI?
As of 2026-08-27, the correlation of weekly returns between ICLN and VTI is 0.49 over 3 years, 0.59 over 1 year and 0.57 over 5 years.
Is VTI a good diversifier for ICLN?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
How much do ICLN and VTI overlap?
The two funds share 11 holdings amounting to 0.1% of weight, per issuer portfolio files dated 2026-08-26.
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Hubs: ICLN correlations · VTI correlations
