Solar accounts for roughly half of all new U.S. grid capacity, yet TAN trades up just 7% year to date versus the S&P 500's 14% gain. FSLR is down 14% year to date despite beating Q2 EPS by 39% and holding a $13.6 billion contracted backlog through 2030. A clean Section 232 tariff ruling could tighten module supply and re-rate TAN, while a waiver-heavy outcome would gut the investment thesis.
Many financial professionals are salespeople paid on what they push, not whether you end up wealthier. A fiduciary is the opposite. The SEC legally requires them to put your interests first.
Advisor.com's free matching tool pairs you with vetted fiduciaries from major national firms, all in under three minutes. See who you match with today. The Invesco Solar ETF (NYSEARCA:TAN) closed Wednesday at $52.47, up roughly 7% year to date while the S&P 500 has returned about 14%.
That is a strange result for a fund whose underlying industry is now building out roughly half of every new megawatt added to the U.S. grid, according to EIA's Electric Power Monthly planned additions tables. Over the past year, TAN has actually returned nearly 41%, nearly double the S&P, so the market is starting to notice. It just is not pricing solar the way it prices the pipeline data.
TAN tracks the MAC Global Solar Energy Index and held $2.29 billion in net assets as of its most recent NPORT filing dated May 31, 2026. Its largest single position is First Solar (NASDAQ:FSLR), which has been the anchor of the fund for years. The problem, and the opportunity, is right there in the holdings: First Solar is down about 14% year to date even after posting a Q2 EPS beat of 39% and reaffirming $4.90 billion to $5.20 billion in full-year sales guidance.
The stock is dragging the ETF while the business is compounding. Most Americans suspect they're behind on retirement and never find out. Advisor.com's free matching tool pairs you in about three minutes with a vetted fiduciary advisor who can help you with investing, taxes, retirement, estate planning, and more.
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