PBW — Invesco WilderHill Clean Energy ETF

PBW Price Performance — Growth of $10,000

Value of a $10,000 investment in PBW over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

PBW Drawdown

The "underwater" chart: PBW's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Invesco WilderHill Clean Energy ETF (PBW) is a thematic fund issued by Invesco that currently holds $485 million in assets under management. Trading at a price of $31.66, the fund carries an expense ratio of 0.64% and offers a dividend yield of 1.44%. Within the broader universe of 458 tracked ETFs, PBW holds an overall rank of #412 and has received an ETFValuer grade of D with a score of 42.3 out of 100. In its specific thematic category, the fund is one of 17 ETFs monitored by the platform. The combination of its mid-tier asset size and lower ranking suggests a moderate level of investor adoption relative to other funds in the sector. Its cost structure and income profile are standard for a thematic vehicle, though the overall performance metrics have contributed to its current standing.

Recent price action shows significant short-term weakness, with the fund declining 4.70% over one day and 5.18% over one week. This downward momentum extended into the monthly timeframe, resulting in a 16.20% drop over the last month and a 14.49% loss over three months. The six-month return reflects a continued decline of 12.00%, while year-to-date performance sits at a modest -1.50%. Despite these recent losses, the fund posted a strong 30.34% return over the past year, contrasting sharply with a -23.22% loss over the three-year period. This pattern indicates a volatile trajectory where short-term declines have recently offset the gains seen over the previous twelve months.

The fund is classified with a Very High volatility label and exhibits a beta of 2.10, indicating that its price movements are more than twice as sensitive to market changes than the broader benchmark. This high sensitivity is reflected in a maximum drawdown of -67.96%, which represents the largest peak-to-trough decline recorded for the ETF. The Sharpe ratio of 0.58 suggests that the risk-adjusted returns have been relatively low given the substantial volatility experienced. Together, these metrics imply that the fund tends to amplify market moves in both directions, leading to extreme swings during both up and down market conditions. Investors in this vehicle should anticipate significant price fluctuations that exceed typical market behavior.

AI-generated summary based on the data on this page.

PBW Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 43.4% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how PBW's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With PBW

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with PBW's top 10 — RSP overlaps most, holding 3 of the same companies as PBW's top 10 (27.6% of PBW's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

PBW Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 2.65% and average daily volume is 858K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $485M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: PBW is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

PBW Performance History

How PBW Compares to Other Thematic ETFs