Clean Energy Stocks
Top 10 of 75 ICLN holdings, updated
As of 12 October 2026, clean energy stocks are trailing the S&P 500, over the past month and over the longer run. ICLN trails the S&P 500 by 6.5 points over one month and ranks #79 of 115 groups Zensei tracks. 6 of the 16 clean energy stocks Zensei prices in ICLN beat the fund this month.
Where clean energy stocks stand now
As of 12 October 2026, Clean Energy (ICLN) ranks #79 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 6.5 points behind over the past month and 5.8 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, ICLN's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. ICLN's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via iShares Global Clean Energy ETF, whose 75 tracked holdings are led by Bloom Energy, China Yangtze Power Co Ltd and Nextpower Inc. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
As of , these are the largest clean energy stocks in ICLN by fund weight, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Top clean energy stocks by fund weight
Ranked by largest share of ICLN
- 1Bloom EnergyBE10.1%
- 2China Yangtze Power Co Ltd7.8%
- 3Nextpower IncNXT7.0%
- 4First Solar IncFSLR6.9%
- 5Equatorial SA4.2%
Best clean energy stocks this month
Ranked by one-month return, among the holdings Zensei prices
- 1SHLSSHLS+18.4%
- 2Nextpower IncNXT+2.4%
- 3RNWRNW+0.9%
- 4REX American Resources CorpREX−0.8%
- 5Green Plains IncGPRE−2.0%
Clean Energy Stocks vs the S&P 500
Over the week to 12 October 2026, ICLN fell 1.0% while the S&P 500 rose 0.4%. The table compares ICLN and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means ICLN won that window.
Prices as of · computed from daily adjusted closes · how we measure
Clean Energy on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are clean energy stocks expensive?
Under half of the weight in ICLN has a positive P/E, so a fund P/E would not describe the fund. Zensei shows a fund P/E from 50% coverage. Compare with every sector and theme: P/E ratio by sector.
ICLN holdings: the clean energy stocks inside
This list covers the 75 largest clean energy stocks in ICLN, heaviest first; the 10 largest show their returns where Zensei has a price. As of 12 October 2026, 6 of the 16 clean energy stocks Zensei prices in ICLN beat the fund over the past month. 2 of them beat the S&P 500. The strongest is SHLS (SHLS); the weakest is T1 Energy Inc (TE). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | BEBloom Energy | 10.1% | −4.9% | +12.4% | −0.4 pts | Weak | Fading |
| 2 | China Yangtze Power Co Ltd | 7.8% | — | — | No price data | ||
| 3 | NXTNextpower Inc | 7.0% | +2.4% | −14.9% | +6.8 pts | Accelerating | Strong |
| 4 | FSLRFirst Solar Inc | 6.9% | −14.0% | −18.7% | −9.6 pts | Weak | Broken |
| 5 | Equatorial SA | 4.2% | — | — | No price data | ||
| 6 | ENPHEnphase Energy Inc | 4.2% | −13.4% | −26.9% | |||
| 7 | Vestas Wind Systems AS | 4.0% | — | — | No price data | ||
| 8 | Edp-Energias de Portugal SA | 2.9% | — | — | No price data | ||
| 9 | Chubu Electric Power Co Inc | 2.4% | — | — | No price data | ||
| 10 | PLUGPlug Power | 2.4% | −22.9% | −25.3% | |||
All 75 ICLN holdings by weight: Bloom Energy (BE) 10.1%, China Yangtze Power Co Ltd 7.8%, Nextpower Inc (NXT) 7.0%, First Solar Inc (FSLR) 6.9%, Equatorial SA 4.2%, Enphase Energy Inc (ENPH) 4.2%, Vestas Wind Systems AS 4.0%, Edp-Energias de Portugal SA 2.9%, Chubu Electric Power Co Inc 2.4%, Plug Power (PLUG) 2.4%, Solaredge Technologies Inc (SEDG) 1.9%, Clearway Energy Inc (CWEN) 1.9%, Enlight Renewable Energy Ltd 1.8%, Suzlon Energy Ltd 1.7%, Orsted AS 1.5%, Doosan Fuel Cell 1.3%, Nordex SE 1.3%, SHLS 1.3%, Cpfl Energia SA 1.1%, Solaria Energia Y Medio Ambiente SA 1.0%, Green Plains Inc (GPRE) 1.0%, CS Wind Corp 1.0%, Sichuan Chuantou Energy Co Ltd 0.9%, United Renewable Energy Co Ltd 0.8%, EDP Renewables SA 0.8%, T1 Energy Inc (TE) 0.8%, Waaree Energies Ltd 0.7%, Premier Energies Ltd 0.7%, Nhpc Ltd 0.7%, Engie Brasil Energia SA 0.7%, Ceres Power Holdings PLC 0.6%, Verbund AG 0.6%, Array Technologies Inc (ARRY) 0.6%, Auren Energia SA 0.5%, Inox Wind Ltd 0.5%, Canadian Solar Inc (CSIQ) 0.5%, BEPC 0.5%, Jinko Solar Co Ltd 0.4%, Tsec Corp 0.4%, SMA Solar Technology AG 0.4%, ERG SPA 0.4%, REX American Resources Corp (REX) 0.4%, PT Barito Renewables Energy TBK 0.4%, Enel Americas SA 0.3%, Dajin Heavy Industry Co Ltd 0.3%, Contact Energy Ltd 0.3%, Trina Solar Co Ltd 0.3%, Century Iron and Steel Industrial Co Ltd 0.3%, Verbio SE 0.3%, RNW 0.3%, Ntpc Green Energy Ltd 0.3%, Motech Industries Co Ltd 0.3%, Jinkosolar Holding Co Ltd DR (JKS) 0.3%, Mingyang Smart Energy Group Ltd 0.3%, JA Solar Technology Co Ltd 0.3%, Cecep Wind Power Corp 0.2%, Energix-Renewable Energies Ltd 0.2%, Ginlong Technologies Co Ltd 0.2%, Renova Inc 0.2%, OY Nofar Energy Ltd 0.2%, Sichuan New Energy Power Co Ltd 0.2%, Meridian Energy Ltd 0.2%, Cecep Solar Energy Co Ltd 0.2%, Sjvn Ltd 0.2%, Sany Heavy Energy Co Ltd 0.1%, Goodwe Technologies Co Ltd 0.1%, Wuxi Autowell Technology Co Ltd 0.1%, Jiaze Renewables Corp Ltd 0.1%, Nyocor Co Ltd 0.1%, Risen Energy Co Ltd 0.1%, Hoymiles Power Electronics Inc 0.1%, Jinlei Technology Co Ltd 0.1%, Zorlu Enerji Elektrik Uretim AS 0.1%, Jolywood (Suzhou) Sunwatt Co Ltd 0.1%, Cnh/Usd Purchased 0.0%.
Clean Energy stocks with their own page
Zensei publishes a page for 1 of the stocks in ICLN; each page shows the stock against the S&P 500 and its sector.
| Stock | Ticker | Weight in ICLN | 1M return |
|---|---|---|---|
| Bloom Energy | BE | 10.1% | −4.9% |
Weight is the share of ICLN. 1M is the plain one-month return to the close of . All stock pages
Clean Energy Stocks: common questions
Clean energy stocks list: which stocks are in ICLN?
As of 12 October 2026, this page lists the 75 largest clean energy stocks in ICLN, from the fund's published holdings. The three largest by fund weight are Bloom Energy (BE, 10.1%), China Yangtze Power Co Ltd (7.8%) and Nextpower Inc (NXT, 7.0%). Each one shows its fund weight; the 10 largest also show their one-month and three-month returns where Zensei has a price.
What are the best clean energy stocks this month?
As of 12 October 2026, ranked by one-month return, the three strongest clean energy stocks in ICLN are SHLS (+18.4%), Nextpower Inc (NXT, +2.4%) and RNW (+0.9%). This ranks past return only; it does not forecast the next month.
What are the top 3 clean energy stocks?
As of 12 October 2026, the three largest clean energy stocks in ICLN by fund weight are Bloom Energy (BE, 10.1%), China Yangtze Power Co Ltd (7.8%) and Nextpower Inc (NXT, 7.0%). Fund weight shows size inside the fund, not a recommendation.
Which clean energy stocks are beating the sector?
As of 12 October 2026, 6 of the 16 clean energy stocks Zensei prices in ICLN beat the fund over the past month. The strongest over the past month is SHLS (SHLS). The table above shows the largest holdings with their weights and returns.
Which ETF holds clean energy stocks?
Several ETFs hold clean energy stocks. Zensei tracks the group through ICLN, the iShares Global Clean Energy ETF. As of 12 October 2026, Zensei has the 75 largest clean energy stocks from its published holdings, and the 10 largest make up 51.9% of the fund.
Are clean energy stocks outperforming the S&P 500?
No. As of 12 October 2026, ICLN trails the S&P 500 by 6.5 points over the past month.
What is ICLN?
ICLN is iShares Global Clean Energy ETF. Zensei uses it to measure clean energy stocks against the S&P 500 (SPY).
What stocks does ICLN own?
As of 12 October 2026, the largest of the 75 positions Zensei tracks in ICLN are Bloom Energy, China Yangtze Power Co Ltd, Nextpower Inc, First Solar Inc, Equatorial SA. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is clean energy in right now?
As of 12 October 2026, clean energy is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: trailing the market
Related sectors
Track clean energy against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.
Compare all sectors: Sector heat map · Sector P/E ratios