ETF Evaluator: Invesco WilderHill Clean Energy ETF (PBW) Follow This ETF

Invesco WilderHill Clean Energy ETF Overview

Invesco WilderHill Clean Energy ETF (PBW) is a passively managed U.S. Equity Small Growth exchange-traded fund (ETF). Invesco launched the ETF in 2005.

The investment seeks to track the investment results of the WilderHill Clean Energy Index. The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The index is composed of stocks of publicly traded companies listed on a major exchange in the U.S. that are engaged in the business of the advancement of cleaner energy and conservation or are important to the development of clean energy. Stocks are included in the index based on the index provider's evaluation that such companies will substantially benefit from a societal transition toward the use of cleaner energy, zero-CO2 renewables and conservation.

About Invesco WilderHill Clean Energy ETF (PBW)

There are 3 members of the management team with an average tenure of 14.26 years: Peter Hubbard (2007), Michael Jeanette (2008) and Pratik Doshi (2020). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and WilderHill Clean Energy TR USD index with a weighting of 100%. Invesco WilderHill Clean Energy ETF has 73 securities in its portfolio. The top 10 holdings constitute 16.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is considered to have an ESG focus with its investment selection and management.

Invesco WilderHill Clean Energy ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco WilderHill Clean Energy ETF has 18.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 81.4% There is 18.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco WilderHill Clean Energy ETF has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $484 million in total assets, which is below the $2 billion average for the Small Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

PBW Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco WilderHill Clean Energy ETF expense ratio is above average compared to funds in the Small Growth category. Invesco WilderHill Clean Energy ETF has an expense ratio of 0.64%, which is 48% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco WilderHill Clean Energy ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 75% for the Small Growth category.

Recently, in the month of June 2026, Invesco WilderHill Clean Energy ETF returned -13.3%, which earned it a grade of F, as the Small Growth category had an average return of 6.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Invesco WilderHill Clean Energy ETF has a trailing yield of 1.21%, which is above the 0.40% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Invesco WilderHill Clean Energy ETF Grades

Year to date, the ETF has returned 28.6%, 5.0 percentage points better than the category, which translates into a grade of A. The fund has returned 98.3% over the past year (grade of A), 0.9% over the past three years (grade of F) and -14.0% per year over the past five years (grade of F) and 9.5% per year over the past 10 years (grade of F).

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