What Is ACES? ALPS Clean Energy ETF

ACES is the ALPS Clean Energy ETF, issued by SS&C ALPS Advisors and launched in June 2018. It holds roughly 40 US and Canadian companies whose business is tied to clean energy, spanning solar, wind, electric vehicles, energy storage, bioenergy, and hydrogen. The fund tracks the CIBC Atlas Clean Energy Index and charges an expense ratio of 0.55%.

The appeal of ACES is one ticker exposure to a North American clean energy basket. Instead of choosing between a solar maker, a wind operator, and an EV company, investors get a rules based mix. The tradeoff is concentration and volatility, since a small number of large holdings can drive much of the fund's movement.

Approximate weights as of mid-2026; refresh quarterly from SS&C ALPS Advisors's fund page. Each ticker links to its individual stock guide in Walnut.

ACES holds about 40 stocks, with the top 10 making up roughly half the portfolio. Recent leading positions have included Rivian, Tesla, HA Sustainable Infrastructure, Brookfield Renewable, Nextracker, Northland Power, Albemarle, First Solar, Clearway Energy, and Itron. The mix leans toward EVs, solar, and grid or storage technology.

Because the index covers both US and Canadian companies, names like Northland Power and Brookfield Renewable give ACES cross border exposure. The clean energy focus also means the fund is sensitive to interest rates, policy changes, and commodity prices such as lithium, which can move several holdings at once.

The most common comparison is ICLN, the iShares Global Clean Energy ETF, which is larger, cheaper at around 0.41%, and global. ACES is North America only and more concentrated, at a 0.55% fee. QCLN, the First Trust NASDAQ Clean Edge Green Energy ETF, is another US focused peer with a different index and weighting.

The choice comes down to geography, cost, and concentration. Investors who want global clean energy breadth often prefer ICLN, while those who specifically want US and Canadian names, including Canadian utilities and renewables, may prefer ACES. Comparing top holdings and overlap is a useful step before deciding.

Clean energy funds like ACES have been highly cyclical, with sharp rallies and deep drawdowns driven by interest rates, government policy, and sentiment around EVs and solar. Because ACES is concentrated, its returns can diverge meaningfully from the broad market in both directions over short periods.

The longer term case rests on continued growth in electrification, renewable power, and energy storage across the US and Canada. That thesis is real but not guaranteed, and the path has been bumpy. Investors should expect volatility and size the position accordingly rather than treating it like a core index fund.

ACES may fit investors who specifically want concentrated North American clean energy exposure and can tolerate high volatility and single theme risk. It is less suited to those who want broad diversification, low cost, or stable income, since it charges 0.55% and pays little dividend.

Walnut is not an investment adviser, and this is not a recommendation. Whether ACES belongs in your portfolio depends on your goals, time horizon, and how much thematic risk you are comfortable holding. Many investors who use funds like this keep them as a small satellite alongside a diversified core.

ACES trades on major US brokerages including Robinhood, Fidelity, Schwab, and Public. Many of these support fractional shares, so you can invest a fixed dollar amount rather than buying whole shares. Because the fund is relatively small, using limit orders can help you get a fair price.

You can also connect your brokerage account to Walnut to track ACES alongside your other holdings and thematic baskets, and to see how a clean energy position fits your overall targets. Walnut helps you monitor and plan, while your trades continue to execute at your own broker.

ETFs are passive bundles; thematic baskets in Walnut let you concentrate within them. If you hold ACES as a core position, these are the themes you might layer on as satellites.

ACES gives concentrated, North America focused clean energy exposure at a 0.55% fee, pricier than a total market fund but typical for a thematic sector fund. Its holdings are volatile and policy sensitive, so most investors treat it as a small satellite position rather than a core holding.

Whether ACES is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is ACES a buy?

ACES yields ~1% as of mid-2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see ACES dividend: yield and schedule.