ICLN vs VYM: Correlation & Overlap
Measured on weekly returns over the past three years, iShares Global Clean Energy ETF (ICLN) and Vanguard High Dividend Yield ETF (VYM) carry a correlation of 0.45, a moderate link. Looking through to holdings, 0.0% 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 VYM?
On 3 years of weekly data the ICLN/VYM correlation comes out at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 132.8 %².
Within ICLN's tracked universe of 78 assets, VYM comes in at #39 by 3-year correlation. Twelve-month performance is nearly a tie, at +25.6% for ICLN and +21.1% for VYM. The relationship is regime-dependent: the rolling one-year correlation swung between 0.20 and 0.75 over the past three years, so this pair behaves very differently depending on the market environment. 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 VYM: side by side
| ICLN (iShares Global Clean Energy ETF) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +25.6% | +21.1% |
| 5-year return | -18.4% | +76.6% |
| Volatility (ann.) | 24.0% | 12.3% |
| Beta vs S&P 500 | 0.78 | 0.69 |
| Max drawdown (3Y) | -34.6% | -14.5% |
| Dividend yield | 1.05% | 2.24% |
| Expense ratio | 0.39% | 0.04% |
| Assets under management | $2.3B | $99.2B |
| Sector / category | ETF · Thematic | ETF · Dividend |
ICLN, iShares's Miscellaneous Sector fund, carries $2.3B under management, 102 holdings, a 0.39% expense ratio, a 1.05% trailing dividend yield. VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Portfolio overlap between ICLN and VYM
The two portfolios are largely distinct, with 1 holdings in common adding up to 0.0% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in ICLN | Weight in VYM |
|---|---|---|
| CWEN | 1.97% | 0.02% |
Largest positions held only by ICLN: FSLR (7.87%), 600900 (7.64%), BE (7.36%), NXT (6.81%), ENPH (4.70%). Only by VYM: AVGO (7.37%), JPM (3.83%), XOM (2.63%), JNJ (2.51%), CSCO (1.87%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 1 common positions shown.
Year-by-year returns
| Year | ICLN | VYM |
|---|---|---|
| 2022 | -5.4% | -0.4% |
| 2023 | -20.4% | +6.6% |
| 2024 | -25.7% | +17.6% |
| 2025 | +47.0% | +15.4% |
| 2026 | +8.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLN and VYM good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ICLN and VYM?
The ICLN/VYM correlation stands at 0.45 on a 3-year window (1 year: 0.38, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is VYM a good diversifier for ICLN?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
How much do ICLN and VYM overlap?
0.0% by weight, across 1 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-vym.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/icln-vs-vym/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ICLN correlations · VYM correlations
