ICLN vs VUG: Correlation & Overlap
Measured on weekly returns over the past three years, iShares Global Clean Energy ETF (ICLN) and Vanguard Growth ETF (VUG) carry a correlation of 0.42, a moderate link. Looking through to holdings, 0.2% 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 VUG?
On 3 years of weekly data the ICLN/VUG correlation comes out at 0.42, moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.42). The 5-year figure is 0.51, and annualized covariance runs at 193.4 %².
By 3-year correlation, VUG places #50 of the 78 assets tracked against ICLN. Over the last 12 months ICLN came out ahead by 9.4 percentage points (+25.6% against +16.2%). Across three years, the rolling one-year figure varied moderately, from 0.18 to 0.64.
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 VUG: side by side
| ICLN (iShares Global Clean Energy ETF) | VUG (Vanguard Growth ETF) | |
|---|---|---|
| 1-year return | +25.6% | +16.2% |
| 5-year return | -18.4% | +78.4% |
| Volatility (ann.) | 24.0% | 19.4% |
| Beta vs S&P 500 | 0.78 | 1.28 |
| Max drawdown (3Y) | -34.6% | -22.8% |
| Dividend yield | 1.05% | 0.40% |
| Expense ratio | 0.39% | 0.03% |
| Assets under management | $2.3B | $372.0B |
| Sector / category | ETF · Thematic | ETF · US Style |
ICLN, iShares's Miscellaneous Sector fund, carries $2.3B under management, 102 holdings, a 0.39% expense ratio, a 1.05% trailing dividend yield. VUG, Vanguard's Large Growth fund, carries $372.0B under management, 146 holdings, a 0.03% expense ratio, a 0.40% trailing dividend yield.
Portfolio overlap between ICLN and VUG
The two portfolios are largely distinct: 0.2% of the funds' weight sits in the same underlying holdings (2 common positions). Correlation tells you they move together; overlap tells you why.
Largest positions held only by ICLN: 600900 (7.64%), NXT (6.81%), ENPH (4.70%), VWS (4.36%), EQTL3 (3.09%). Only by VUG: NVDA (12.84%), AAPL (12.63%), MSFT (9.61%), GOOGL (5.81%), AMZN (5.16%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 2 common positions shown.
Year-by-year returns
| Year | ICLN | VUG |
|---|---|---|
| 2022 | -5.4% | -33.2% |
| 2023 | -20.4% | +46.8% |
| 2024 | -25.7% | +32.7% |
| 2025 | +47.0% | +19.4% |
| 2026 | +8.8% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLN and VUG good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ICLN and VUG?
The ICLN/VUG correlation stands at 0.42 on a 3-year window (1 year: 0.58, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is VUG a good diversifier for ICLN?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
How much do ICLN and VUG overlap?
0.2% by weight, across 2 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/icln-vs-vug.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/icln-vs-vug/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ICLN correlations · VUG correlations
