TAN vs. SMOG ETF Comparison

Comparison of Invesco Solar ETF (TAN) to VanEck Vectors Low Carbon Energy ETF (SMOG)

TAN

Invesco Solar ETF

TAN Description

The investment seeks to track the investment results (before fees and expenses) of the MAC Global Solar Energy Index. The fund will generally invest at least 90% of its total assets in the securities (including American depositary receipts (?ADRs?)) that comprise the index. Strictly in accordance with its guidelines and mandated procedures, MAC Indexing LLC compiles, maintains, and calculates the index, which is designed to track the global solar energy equity sector. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$39.95

Average Daily Volume

1,171,111

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SMOG

VanEck Vectors Low Carbon Energy ETF

SMOG Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ardour Global IndexSM (Extra Liquid). The fund normally invests at least 80% of its total assets in stocks of low carbon energy companies. Such companies may include small- and medium-capitalization companies and foreign issuers. "Low carbon energy companies" refers to companies primarily engaged in alternative energy, including renewable energy, alternative fuels and related enabling technologies (such as advanced batteries). It is non-diversified.

Grade (RS Rating)

Last Trade

$91.76

Average Daily Volume

2,724

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TAN	SMOG
30 Days	-9.27%	-5.88%
60 Days	-6.33%	-3.93%
90 Days	-11.00%	-5.34%
12 Months	-48.55%	-20.76%

10 Overlapping Holdings

Symbol	Grade	Weight in TAN	Weight in SMOG	Overlap
ARRY	F	3.39%	0.38%	0.38%
AY	B	1.47%	0.33%	0.33%
CSIQ	F	1.67%	0.18%	0.18%
DQ	F	2.21%	0.39%	0.39%
ENPH	F	9.52%	3.28%	3.28%
FSLR	B	12.28%	3.51%	3.51%
HASI	B	4.99%	0.48%	0.48%
JKS	F	1.86%	0.2%	0.2%
RUN	F	3.99%	0.38%	0.38%
SEDG	F	5.09%	0.86%	0.86%

TAN Overweight 8 Positions Relative to SMOG

Symbol	Grade	Weight
SHLS	F	2.76%
CWEN	B	2.07%
NOVA	F	1.28%
RNW	D	0.65%
AMPS	F	0.64%
SPWR	F	0.58%
RENB	F	0.57%
MAXN	F	0.24%

TAN Underweight 19 Positions Relative to SMOG

Symbol	Grade	Weight
NEE	A	-9.29%
TSLA	F	-7.98%
LI	F	-4.52%
OC	A	-2.87%
RIVN	F	-1.56%
XPEV	F	-1.39%
NIO	F	-1.37%
EBR	D	-1.1%
IBP	D	-1.09%
BMI	A	-0.75%
CIG	A	-0.73%
ENS	D	-0.72%
ORA	D	-0.66%
LCID	F	-0.58%
QS	F	-0.52%
ELP	D	-0.44%
BE	D	-0.41%
PLUG	F	-0.39%
TAC	D	-0.37%