At a glance
CCSO charges 0.35% a year, below the 0.41% average of the 6 funds most like it (the 2nd cheapest of 7). It has $45.7M in assets, the 5th largest of that group; it paid 0.65% of its price in distributions over the past 12 months, annual. Over the past year it returned −3.3% with distributions reinvested (S&P 500: +11.5%), 6th of those 7 funds; over three years it returned +15.6% a year. Its ten largest positions make up 48.9% of the fund, out of 121 in all.
The short version
Carbon Collective Climate Solutions U.S. Equity ETF (CCSO) is an actively managed fund. It holds mostly U.S.-listed stocks of companies that its sub-adviser, Carbon Collective Investing, sees as building solutions to climate change. It looks beyond clean energy to steel, waste, grid and building-efficiency companies. Its 0.35% expense ratio is below the 0.41% average of similar funds. No similar fund shares much of its portfolio.
Price history
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CCSO -3.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| CCSO official prospectus, to Dec 31, 2024 | — | +4.54% | — | — | — | +1.37% |
| CCSO price data to Oct 27, 2026 | +0.4% | -3.3% | +15.6% | — | — | +6.7% |
- Over the year to Oct 27, 2026, CCSO returned -3.3%, 6th of 7 among similar funds.
- Its worst full calendar year was 2024 (+3.9%); its best was 2025 (+21.8%).
- The deepest fall in its price history was 23.7% (Jul 31, 2023 to Oct 27, 2023), recovered by Nov 7, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.4% | — |
| 2025 | +21.8% | — |
| 2024 | +3.9% | +4.54% |
| 2023 | +14.6% | +13.97% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.1600 | +45.5% |
| 2024 | $0.1100 | -31.3% |
| 2023 | $0.1600 |
What's inside
As of Jul 31, 2026, the fund held 121 securities; the ten largest made up 48.91% of assets.
| Holding | Weight | |
|---|---|---|
| Nucor Corp | 5.82% | |
| Republic Services Inc | 5.56% | |
| Johnson Controls International | 5.52% | |
| Waste Management Inc | 5.41% | |
| Southern Copper Corp | 5.36% | |
| Carrier Global Corp | 4.79% | |
| GE Vernova Inc | 4.71% | |
| Quanta Services Inc | 4.51% | |
| Cameco Corp | 3.72% | |
| Steel Dynamics Inc | 3.50% | |
| Enlight Renewable Energy Ltd | 3.38% | |
| Zoom Communications Inc | 2.92% | |
| Xylem Inc/NY | 2.74% | |
| Hubbell Inc | 2.61% | |
| First Solar Inc | 2.24% |
By country
United States 81.48%Canada 8.66%China 4.02%Israel 3.69%VN 0.75%By asset type
Stocks 99.55%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $3.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.60%, -4.31%, -6.45%.
How it works
CCSO does not track an index. Its sub-adviser, Carbon Collective Investing, LLC, picks the stocks. It must keep at least 80% of net assets in U.S.-listed stocks of "Climate Solution Companies." It can also buy foreign companies through American Depositary Receipts (ADRs), which are U.S.-traded certificates for foreign shares, but these don't count toward the 80%. As of July 31, 2026, it held 121 stocks. The 10 largest made up about 49% of the fund, led by Nucor, Republic Services, Johnson Controls, Waste Management and Southern Copper.
To qualify, a company must pass five steps. First, the manager uses sources such as Project Drawdown and the International Energy Agency to list climate-solution categories, such as batteries or building automation. It then searches for companies working in them. The prospectus puts this group at about 350 companies of any size.
Next, companies in six industries face extra tests. Utilities must get 50% to 100% of their energy from carbon-neutral sources, and must have closure dates for any coal plants within three years. Waste companies must capture methane at half or more of their landfills. Water companies must earn at least half their revenue from leak detection, efficiency or recycling. The manager can change these filters. Portfolio turnover was 29%.
What it really costs
- CCSO charges 0.35% a year, versus an average of 0.41% for the similar funds below (2nd of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $36 in the first year and $443 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CCSO | $36 | $113 | $197 | $443 |
In a retirement portfolio
It is a concentrated, actively managed theme fund that has swung more than the broad market and pays little income.
CCSO launched in September 2022, near the end of the 2022 bear market. It has no record through the 2008 or 2020 crashes. Its deepest drop was 23.7%, from July 31 to October 27, 2023, and it took about 12 months to recover, on November 7, 2024. Its weakest calendar year so far was 2024, a 4.54% gain by the prospectus figures. Over the year to October 27, 2026, its beta was 1.41, meaning it moved about 1.4 times as much as the market. It also fell 13% in the six months to that date. Anyone who has to sell shares in a slump could lock in losses. Income is small: the yield was 0.65%, paid once a year. Fees are 0.35% a year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting climate exposure beyond solar and wind, including waste haulers, steelmakers, grid builders and HVAC companies such as Carrier and Johnson Controls.
- Cost-aware theme investors: its 0.35% expense ratio ranked 2nd cheapest of 7 similar funds, below the 0.41% average.
- Those adding a small, higher-risk slice to a diversified portfolio who can sit through drops like its 23.7% fall in 2023.
Look elsewhere if
- Retirees needing regular income: the yield was 0.65% as of October 27, 2026, paid only once a year.
- Investors wanting a broad, low-volatility core holding: its one-year beta was 1.41 and volatility 22.5%.
- Those wanting a long track record or a large fund: it launched in September 2022 and had about $46 million in net assets.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| CCSO this fund | — | 0.35% | $45.7M | -3.3% | +15.6% |
| LOPP Gabelli Love Our Planet & People ETF | 21% | 0% | $16.3M | +9.8% | +19.7% |
| UPGR Xtrackers US Green Infrastructure Select Eq… | 19% | 0.35% | $579K | -17.1% | +7.6% |
| EVX VanEck Environmental Services ETF | 16% | 0.55% | $101.2M | +2.4% | +15.4% |
| GRID First Trust Nasdaq Clean Edge Smart GRID In… | 16% | 0.56% | $12.08B | +6.7% | +26.4% |
| FRNW Fidelity Clean Energy ETF | 16% | 0.4% | $153.8M | -3.2% | +14.9% |
| SMOG VanEck Low Carbon Energy ETF | 15% | 0.61% | $143.7M | -1.1% | +13.4% |
Questions investors ask
What does CCSO invest in?
CCSO invests in U.S.-listed stocks that its manager sees as climate-change solutions, using a broad definition. As of July 31, 2026, its largest holdings were Nucor, Republic Services, Johnson Controls, Waste Management, Southern Copper, Carrier, GE Vernova and Quanta Services. It held 121 stocks, and the top 10 made up about 49% of assets. About 81% was in U.S. companies. The rest included Canadian, Chinese and Israeli companies such as Cameco and Enlight Renewable Energy.
Is CCSO good for retirement?
CCSO is better suited to a small, higher-risk part of a retirement portfolio than to a core role. It has swung more than the market, with a one-year beta of 1.41 as of October 27, 2026. Its deepest drop was 23.7% in 2023, and it took about 12 months to recover. It pays little income. Its history only goes back to September 2022, so it has never been tested in a long bear market.
Does CCSO pay dividends?
Yes, CCSO pays dividends, but only once a year, and the amount is small. Its trailing 12-month yield was 0.65% as of October 27, 2026, or about $0.16 per share. The fund's objective is long-term growth, not income. Investors who rely on regular cash from their portfolio would get very little from it.
What is CCSO's expense ratio?
CCSO's expense ratio is 0.35% a year, according to its prospectus filed November 25, 2025. That is below the 0.41% average of the similar funds compared here, and it ranks 2nd cheapest of 7. In the SEC's standard example, a $10,000 investment earning 5% a year would cost about $36 over one year, $113 over three, $197 over five and $443 over ten.
CCSO vs LOPP: what's the difference?
Both are small climate- and sustainability-themed stock ETFs, but they own quite different stocks. LOPP, the Gabelli Love Our Planet & People ETF, shares only about a fifth of CCSO's holdings. As of October 27, 2026, LOPP returned 9.8% over one year and 19.7% a year over three years. CCSO returned -3.3% and 15.6% over the same periods. LOPP had about $16 million in net assets as of June 30, 2026, against CCSO's roughly $46 million as of July 31, 2026.