What Is TAN? Invesco Solar ETF
Last updated August 2026
Short answer
TAN is the Invesco Solar ETF, which tracks the MAC Global Solar Energy Index and holds companies across the global solar value chain, including panel makers, inverter manufacturers, and residential solar installers like First Solar, Enphase, and Sunrun. At a 0.70% expense ratio it is a concentrated, globally diversified sector fund that moves with solar demand, government policy, and interest rates. It is a thematic clean-energy bet rather than a diversified core holding, and it has been volatile.
TAN is issued by Invesco and tracks MAC Global Solar Energy Index. It charges a 0.70% expense ratio, holds approximately $1.72B in assets under management, yields about 0.00%, and launched in April 2008.
What is TAN?
TAN is the Invesco Solar ETF, which tracks the MAC Global Solar Energy Index and holds companies across the global solar value chain, including panel makers, inverter manufacturers, and residential solar installers like First Solar, Enphase, and Sunrun. At a 0.70% expense ratio it is a concentrated, globally diversified sector fund that moves with solar demand, government policy, and interest rates. It is a thematic clean-energy bet rather than a diversified core holding, and it has been volatile.
TAN is issued by Invesco and tracks MAC Global Solar Energy Index, so a single ticker gives you the whole portfolio of underlying holdings weighted by the index's methodology rather than by any active stock-picking.
What does TAN hold?
TAN is weighted toward its largest constituents. As of July 2026, the top holdings are:
| Rank | Ticker | Company | % of TAN | |
|---|---|---|---|---|
| 1 | NXT | Nextpower Inc Class A | 10.33% | |
| 2 | FSLR | First Solar Inc | 9.33% | |
| 3 | ENPH | Enphase Energy Inc | 7.15% | |
| 4 | ENLT | Enlight Renewable Energy Ltd | 6.60% | |
| 5 | SEDG | SolarEdge Technologies Inc | 5.13% | |
| 6 | RUN | Sunrun Inc | 4.78% | |
| 7 | DORL | Doral Group Renewable Eneryy Resources Ltd Ordinary Shares | 4.46% | |
| 8 | HASI | HA Sustainable Infrastructure Capital Inc | 3.68% | |
| 9 | TE | T1 Energy Inc | 3.60% | |
| 10 | NOFR | OY Nofar Energy Ltd Ordinary Shares | 3.28% |
The remaining holdings make up the balance of the fund, with weights tapering off below the top names. Because the index reconstitutes on a rolling basis, the roster stays current without active management. Each ticker above links to its individual stock guide in Walnut.
How do I invest in TAN?
There are three common ways to get TAN exposure. Buy shares (or fractional shares) of TAN directly at any major broker that lists it. Hold it as a core position and layer more concentrated ideas on top. Or build it into a thematic portfolio in Walnut, so TAN sits alongside other holdings that express the same thesis, with target weights you can rebalance toward. TAN trades like a stock during market hours, so you buy it the same way you would any listed share.
New to buying funds? See how to buy an ETF, step by step.
Is TAN a good buy?
Whether TAN is a good buy depends less on any single call and more on your time horizon and what you already hold: it tracks MAC Global Solar Energy Index, so the real question is whether you want that exposure in your mix and at what weight. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is TAN a buy?
The bottom line on TAN
TAN is the benchmark solar-energy ETF, giving concentrated global exposure to the solar value chain in one ticker. It is a volatile, policy-and-rate-sensitive thematic sector fund, best used as a small clean-energy satellite rather than a core position.
More on TAN
Whether TAN 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 TAN a buy?
TAN yields 0.00% as of July 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see TAN dividend: yield and schedule.
New to funds like TAN? Start with what an ETF is, then how to buy an ETF, or browse the full guide to ETF investing.
Wondering how TAN fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in TAN with AI
Connect the broker you already use and ask Walnut's AI how TAN fits what you actually hold: what it overlaps with, what it leaves you exposed to, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is TAN?
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TAN is the Invesco Solar ETF, launched in April 2008. It tracks the MAC Global Solar Energy Index and holds companies across the global solar industry, from panel and inverter makers to residential solar installers and developers. It gives concentrated, single-ticker exposure to the solar energy theme worldwide.
What is TAN's ticker symbol?
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TAN, listed on NYSE Arca. The full name is Invesco Solar ETF, issued by Invesco. The ticker is a nod to solar tanning, and it is the largest and most widely followed solar-focused ETF.
What companies are in TAN?
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As of July 2026 top holdings include Nextracker, First Solar, Enphase Energy, Enlight Renewable Energy, SolarEdge Technologies, Sunrun, Doral Group, HA Sustainable Infrastructure Capital, T1 Energy, and Nofar Energy. The fund is concentrated, with the top handful of names carrying large weights, and it includes both US and international solar companies.
What is TAN's expense ratio?
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0.70% per year (70 basis points). On a $10,000 position that is about $70 per year, deducted from the fund's NAV. It is a typical fee for a specialized, globally diversified thematic sector ETF.
Why is TAN so volatile?
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Solar companies are sensitive to government incentives and policy, interest rates (which affect financing for solar projects), commodity and component costs, and shifting demand. Those factors can swing sharply, and because TAN is concentrated in a single industry, the fund has historically experienced large gains and steep drawdowns. It is far more volatile than a broad-market fund.
Is TAN a good investment?
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TAN offers focused exposure to the solar theme, which can reward investors when clean-energy demand and policy are favorable and punish them when they are not. It carries sector concentration, policy risk, and high volatility. Walnut isn't an investment adviser; whether TAN fits depends on your conviction in solar, your risk tolerance, and how it sits alongside your other holdings.
What is TAN's dividend yield?
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TAN's reported dividend yield is 0.00% as of July 2026. Many solar companies reinvest in growth rather than paying dividends, so the fund is held for potential price appreciation on the solar theme rather than for income.
Does TAN hold international companies?
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Yes. TAN is globally diversified and includes solar companies listed outside the US, such as Israeli and other international developers and manufacturers, alongside US names. This broadens exposure to the global solar market but also introduces currency and international regulatory factors.
TAN vs ICLN: what's the difference?
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TAN focuses specifically on solar companies. ICLN (iShares Global Clean Energy) is broader, covering solar, wind, and other clean-energy sources plus utilities. TAN is the more concentrated, pure-play solar bet with higher potential volatility; ICLN spreads exposure across the wider clean-energy sector.
What is TAN's market cap (AUM)?
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Approximately $1.72 billion as of July 2026. Assets have fluctuated significantly with the performance of solar stocks and investor sentiment toward clean energy, which tends to attract inflows in favorable policy cycles and outflows in weaker ones.
When was TAN created?
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TAN launched in April 2008. It is the longest-established and most widely held solar-focused ETF, and it has become the reference fund for investors seeking targeted exposure to the solar industry.
Is TAN affected by government policy?
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Yes, heavily. Solar demand depends significantly on tax credits, subsidies, tariffs, and renewable-energy mandates. Changes to these policies in the US or abroad can materially affect the earnings and share prices of TAN's holdings, making policy one of the largest drivers of the fund's performance.
How do I buy TAN?
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TAN trades like any stock during US market hours and is available at major brokers including Robinhood, Fidelity, Schwab, Public, and M1. Fractional shares are supported at most modern brokers. Connect your broker to Walnut and the AI can help you see how a thematic solar position like TAN fits alongside your other holdings.
How do I compare TAN to similar ETFs?
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Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. TAN's figures are above; the full method is in Walnut's guide on how to compare ETFs.
Guides that feature TAN
TAN is one of the names covered in these guides. Each one puts the fund next to its peers so you can see where it fits rather than judging it alone.
Related ETFs
Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to July 2026; verify current figures against Invesco's fund page or your broker before investing.