ETF Evaluator:
Invesco Solar ETF (TAN)
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(as of Jul 31)
Best Performing in Miscellaneous Sector Over the Last Year
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ETF Details
Invesco Solar ETF Overview
Invesco Solar ETF (TAN) is a passively managed Sector Equity Miscellaneous Sector exchange-traded fund (ETF). Invesco launched the ETF in 2008.
The investment seeks to track the investment results (before fees and expenses) of the MAC Global Solar Energy Index (the “underlying index”).
The fund will generally invest at least 90% of its total assets in the securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, MAC Indexing LLC, has contracted with S&P DJI Netherlands B.V. to calculate and administer the underlying index, which seeks to track the performance of companies in global solar energy businesses. The fund is non-diversified.
About Invesco Solar ETF (TAN)
There are 4 members of the management team with an average tenure of 5.74 years: Peter Hubbard (2018), Michael Jeanette (2018), Pratik Doshi (2019) and Faiz Syed (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MAC Global Solar Energy TR USD index with a weighting of 100%. Invesco Solar ETF has 45 securities in its portfolio. The top 10 holdings constitute 58.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
Invesco Solar ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Invesco Solar ETF has 46.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 54.0% There is 46.2% 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 Solar ETF has -0.2% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $351 million average for the Miscellaneous Sector 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.
TAN 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 Solar ETF expense ratio is above average compared to funds in the Miscellaneous Sector category. Invesco Solar ETF has an expense ratio of 0.70%, which is 3% lower than its category average, making the fund expense ratio grade a C. 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 Solar ETF has a portfolio turnover rate of 41%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 45% for the Miscellaneous Sector category.
Recently, in the month of June 2026, Invesco Solar ETF returned -20.0%, which earned it a grade of F, as the Miscellaneous Sector category had an average return of -6.8%. 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 Solar ETF has a trailing yield of 0.00%, which is below the 1.02% category average.
The fund normally distributes its income annually 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 Solar ETF Grades
Year to date, the ETF has returned 20.1%, 6.3 percentage points better than the category, which translates into a grade of C. The fund has returned 72.4% over the past year (grade of B), -5.9% over the past three years (grade of F) and -7.9% per year over the past five years (grade of C) and 11.8% per year over the past 10 years (grade of B).
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TAN Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TAN Return (NAV) | -20.0% | 7.1% | 72.4% | -5.9% | -7.9% | 11.8% |
| TAN Return (Price) | -20.0% | 6.2% | 72.7% | -5.9% | -7.8% | 11.9% |
| NAV +/- Price Return | -0.041% | 0.879% | -0.271% | 0.051% | -0.043% | -0.014% |
| Miscellaneous Sector Avg | -6.8% | 13.7% | 51.8% | 8.1% | -7.9% | 7.0% |
| TAN Grade (NAV) | F | D | B | F | C | B |
| +/- Category (NAV) | -13.2% | -6.7% | 20.6% | -14.0% | 0.1% | 4.8% |
| TAN Tax-Cost Ratio | na | na | 0.0% | 0.1% | 0.0% | 0.3% |
TAN Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TAN Return (NAV) | 20.1% | 46.9% | -37.1% | -26.8% | -5.2% | -24.7% | 233.3% | 65.7% | -25.2% | 54.2% | -43.2% |
| TAN Return (Price) | 20.4% | 48.3% | -37.6% | -26.8% | -5.2% | -25.1% | 233.9% | 66.5% | -25.7% | 54.4% | -43.2% |
| NAV +/- Price Ret | 0.016% | 0.031% | 0.014% | -0.002% | 0.010% | 0.016% | 0.003% | 1.3% | 2.0% | 0.3% | -0.0% |
| Miscellaneous Sector Avg | 13.8% | 30.9% | -12.7% | -3.8% | -34.7% | 9.9% | 62.0% | 25.7% | -13.2% | 27.3% | 0.5% |
| TAN Grade (NAV) | C | B | F | F | A | F | A | A | F | A | F |
| +/- Category | 6.3% | 16.0% | -24.4% | -23.0% | 29.5% | -34.6% | 171.2% | 40.0% | -11.9% | 27.0% | -43.8% |
| Risk Measures | |
| Beta: | 1.85 |
| R-Squared: | 36% |
| Standard Deviation: | 39.2% |
| Category Risk Index: | 1.01 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 3.23 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 1,720 Mil |
| Share Class Assets: | $ 1,720 Mil |
| Turnover: | 41.0% |
| Expense Ratio: | 0.70% |
| Index Fund: | Yes |
| Index Tracked: | MSCI ACWI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 8.2 years | |||
| Average Tenure: 5.7 years | |||
| Managers (Year): Hubbard Peter (2018), Jeanette Michael (2018), Doshi Pratik (2019), Syed Faiz (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 45 |
| % in Top 10 Holdings: | 58.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 46.2% |
Portfolio Allocation |
|
| Domestic Stock: | 54.0% |
| Foreign Stock: | 46.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | April 15, 2008 |
Expenses and Fees
| Expense Ratio (%): | 0.70% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.73% |
