The iShares Global Clean Energy ETF surged 45% year-to-date, outpacing the S&P 500 as AI data center demand reshapes energy infrastructure.
The iShares Global Clean Energy ETF (NASDAQ:ICLN) climbed 45% year-to-date, turning a $10,000 investment into $14,455 as AI-driven data center demand reframed clean energy as critical infrastructure. Shares rose from $16 to $24 in five months, nearly quadrupling the S&P 500’s 11% gain over the same period.
ICLN’s 92% trailing-year return dwarfs the SPDR S&P 500 ETF Trust’s (NYSEARCA:SPY) 28% gain, driven by projections that data centers will consume 12% of U.S. electricity by 2028. A July 4, 2026 tax-credit deadline accelerated equipment orders into early 2026, creating a one-time demand surge unlikely to repeat in the second half.
The fund’s performance marks a sharp reversal from its 2021-2024 slump, when it underperformed the S&P 500 by a wide margin and was often sold for tax losses. Over the trailing five years, ICLN returned 15% in total, compared to the S&P 500’s 81% gain.