Solar ETF TAN up 7% YTD but lags S&P; key is pending US tariff decision on imports.

The Invesco Solar ETF (TAN) is up about 7% year to date, underperforming the S&P 500's 14% gain, despite solar energy's growing share in new US power capacity. The fund's largest holding, First Solar, is down 14% YTD even after strong earnings and sales guidance, weighing on the ETF. A critical factor is the upcoming US Section 232 tariff decision on imported solar modules, which could tighten supply and boost prices if favorable. Investors should watch First Solar's bookings and tariff updates for signs of a potential rally in TAN before year-end.