FRNW has a similar mix of sectors as ICLN, minus Con Ed, plus a healthy dose of Hong Kong. It's only been around a few years. So it's entire track record is in the red.
More info from etf.com:

FRNW provides exposure to the global clean energy industry utilizing an ESG overlay. The fund specifically includes developed and emerging markets firms of any size that generate at least 50% of their revenue from one or more of the following business activities: clean energy distribution, clean energy equipment manufacturing, and clean energy technology. Eligible companies are initially assigned with ‘thematic relevancy scores’ based on a proprietary natural language processing algorithm—which identifies clean energy firms using keywords from publicly available company documents. Firms are then further screened for various ESG factors. The highest scored companies are selected for inclusion and are weighted by market-cap. The index rebalances quarterly.

That's good enough for a C from fossilfreefunds.

ICLN invests in global clean energy companies, which is defined as those involved in the biofuels, ethanol, geothermal, hydroelectric, solar, and wind industries. Aside from holding companies that produce energy through these means, ICLN also includes companies that develop technology and equipment used in the process. Selected by the index committee, the fund is weighted by market-cap and exposure score — subject to several constraints — and reconstituted semi-annually. Prior to April 19, 2021, the index followed a more narrow methodology.

Given the weight of utilities in both funds (56% and 52%), it's going to be hard to get good carbon grades. A plain old utility index, like VUIAX makes ICLN look like Mr. Clean.

Wolf Street has a very negative piece on Silvergate/SI - eroding capital base; huge withdrawals; regulators may be watching.
https://wolfstreet.com/2023/01/05/crypto-bank-silvergate-details-its-own-implosion-much-of-its-equity-capital-wiped-out-im-waiting-for-the-fdic-to-show-up/

Hi @Sven
The two Vanguard funds are inside the UTAH 529; which we established in 2006.
VITPX and VBMPX are the original tickers, and were changed several years (by Vanguard) ago for use inside of 529's. The new tickers are VSTSX and VTBSX.
Both funds are U.S. centric. The total U.S. equity index performance is a mirror of the broad based ITOT etf, and I suspect many other U.S. total equity market funds. The total U.S. bond index is a performance mirror to the bond etf of AGG.
This LINK is a current listing of the investment choices for the UTAH 529. We didn't use the age based investment choice that reduces equity exposure over time, and used the 'build our own mix' option, which was set at 50/50%.
Sidenote: The ER's are so low, that the holdings are almost 'free'.

Several Vanguard 529 choices are similar to its retail funds.
https://investor.vanguard.com/investment-products/list/529-portfolios

@catch22,

Relative to bonds and no market support in 2022; a 50/50 mix of a broad based U.S. equity index and a broad based U.S. bond index had a combined total return of -16.32 % for 2022. The indexes I used are VITPX and VBMPX ,which are inside a 529 college account.

Does Vanguard really think 2023 will be vastly better than 2022 ? If you look at the chart carefully, the breakdown is global allocation and not US only. Nevertheless the risk profile may be somewhat different, but not a significant improvement as the MarketWatch article implied. In addition, many details were left out from Vanguard.
Do 529 funds have oversea exposure too? VITPX and VBMPX are US stock and bond index funds, respectively.

There are 200 million Muslims living in India, a nation of 1.4 billion people. Hinduism under Modi’s nationalist regime is increasingly being seen as the state religion. The unsettling reality is you can still have an authoritarian nationalist ruler who oppresses a minority but who is also democratically elected by the majority and that leader can be very popular with the majority. You end up with situations like this:
https://hrw.org/news/2022/10/07/india-surge-summary-punishments-muslims
https://amp.cnn.com/cnn/2022/05/19/opinions/indian-muslims-violence-hindu-nationalism-singh-abbas/index.html

https://www.sec.gov/Archives/edgar/data/1014913/000110465923001643/tm231469d1_497.htm
497 1 tm231469d1_497.htm 497
Registration No. 333-07305
1940 Act File No. 811-07685
Filed Pursuant to Rule 497(e)
Frontier MFG Global Equity Fund
Institutional Class Shares (FMGEX)
Service Class Shares (FMGSX)
Supplement dated January 6, 2023
to the Prospectus dated October 31, 2022
Effective as of the opening of business on January 9, 2023, the Frontier MFG Global Equity Fund (the “Fund”) will reopen to new investors. Accordingly, all references to the Fund being closed to new investors are hereby removed from the prospectus effective January 9, 2023.
Please retain this Supplement for future reference.

I posted a preview of the call here, which includes today's chart deck (a good reference and background summary of all tools and data offered on the site) and snapshot of State State Sector ETFs 2022 Performance.

Direct link https://www.sec.gov/Archives/edgar/data/923184/000119312523002397/d416122d497.htm
M* had mentioned that co-lead-manager Yu Zhang was responsible for the recent (5+ years) shift in MAPIX from old current-dividend emphasis to also include dividend-growth emphasis. As a result, MAPIX started behaving similar to other growth-oriented Matthews Asia funds. IMO, this change may restore MAPIX to its original current-dividend emphasis.

https://www.sec.gov/Archives/edgar/data/923184/000119312523002397/0001193125-23-002397-index.htm
Matthews Asia Dividend Fund
Matthews China Dividend Fund

NOTE: Relative to bonds and no market support in 2022; a 50/50 mix of a broad based U.S. equity index and a broad based U.S. bond index had a combined total return of -16.32 % for 2022. The indexes I used are VITPX and VBMPX ,which are inside a 529 college account.

Modi and his party do have an authoritarian bent but India has a rule of law and free and fair elections. At no point has India come anywhere close to a Jan 6 type event and the country does not suffer a situation where close to 50% of the population believe that a national election was rigged.
Elections in India are run much more efficiently because unlike the US, the Election Commission in India is an independent national body that sets and enforces rules. Significantly more efficient than the 3,000+ County level bodies here that manage a national election and where just a few bad apples at the state or county level can (cheat) swing the results for a Presidential election or affect the balance of power in Congress.
India is more corrupt than the US but the US does not have clean hands. Here the corruption is more refined, is relabeled as lobbying, wears suits and ties and calls itself House Reps and US Senators. Presidential loyalties are bought and sold on K Street. The US is a corporotacracy that has no equal.
India is playing both sides to its advantage much like any other country is expected to. No different than US cozying up to dictators in Pakistan and Saudi Arabia while still singing the praises of democracy. Or European countries enjoying the benefits of a US security umbrella but under contributing to UN and NATO budgets. Or Canada being a staunch supporter of human rights but panicking when a few hundred illegals breach the border.
Etc..

ROC(250) = Rate of Change over 250 trading days, so that is close to 12-mo. If you prefer 252 or some other number, you can adjust.
https://school.stockcharts.com/doku.php?id=technical_indicators:rate_of_change_roc_and_momentum

https://www.sec.gov/Archives/edgar/data/1518042/000158064223000061/northstarsmcapvalue485a.htm
Check out the website with the North Star name now on it:
https://www.walthausenfunds.com/

As with star ratings or any other magic numbers, one needs look behind the numbers to better understand what they represent.
Somewhat like SRI funds that set very stringent de minimis thresholds on investing in "bad" companies, the sites I suggested grade on severe curves. Invest more than a little in "bad" companies, and your score goes down rapidly. It's still monotonic - the more a fund invests in "bad" companies, the worse its score. But it's a nonlinear scale.
To take ICLN as an example - fully 1/8 (12.49%) of its portfolio is invested in utilities selling or using fossil fuels. Half of that alone (6.22%) is invested in ConEd. Seriously?
Sure, ConEd has a "clean energy" subsidiary, ConEd Solutions. They used to offer me clean electricity as an ESCO, but that ended years ago. Now, all I can buy from ConEd as an electricity supplier is this mix (as of Dec 2020 - the latest info provided):
Biomass <1%
Coal 2%
Hydro 9%
Natural Gas 47%
Nuclear 36%
Oil <1%
Renewable Biogas <1%
Solar <1%
Solid Waste 3%
Wind 3%
Emissions relative to NYS average
SO2 113% of average
NOx 112% of average
CO2 113% of average
Needless to say, I buy electricity from a third party, not ConEd.
Carbon footprint? ICLN is off the charts, as measured by direct and indirect carbon emissions per dollar invested. You may disagree with FossilFreeFund's figure, but even MSCI's figure for the fund (also direct and indirect emissions), is still very high (nearly double that of the S&P 500 (IVV), per MSCI).
https://www.blackrock.com/us/individual/products/239738/ishares-global-clean-energy-etf

StockCharts ROC(250) is close to 12-mo rolling returns.
For RPHIX,

Tax-managed VTMFX has 50-50.
But other Vanguard allocation/balanced funds are either 60-40 or 40-60. For years, people have talked about a 50-50 mix of VWELX and VWINX to produce 50-50 allocation.
Wellington managed HBLAX is close to 50-50.

If 2023 still face interest rate hikes (at least several smaller ones), 50/50 allocation will not improve much from the 60/40. 60/40 in S&P500/cash would have done better, but that is hindsight.
It is really a reward-risk trade off between two asset classes that have opposing correlation but that broke down last year as they approached 1.0. Thus no protection from bond allocation. You have to ask yourself whether this continues in 2023?

You should execute your investment strategy as you determine appropriate. You are also correct that RPHIX has not historically generated a 4% calendar year ending Dec 31st return of 4%. However, RPHIX has generated total returns in excess of 4% on a rolling 12 month basis in the past (few but has). Below is a chart comparing the 12 month trailing 12 month return of RPHIX to the 1 year UST yield at the beginning of the measured period (T+0). The only underperformance was as a consequence of COVID volatility.
If you compare 12 month rolling total return of RPHIX since inception to the beginning 1 year UST, there are 136 measurable periods. Below is the max, min and average excess return:
Max 5.09%
Min -1.71%
Avg 2.13%
On a distribution basis for 136 measured periods, the first column represents the 1 year excess total return (RPHIX Total Return - I Yr UST Yield) and the second column shows the % of times of the occurance
Negative 7%
0-1% 11%
1%-2% 29%
2%-3% 23%
3%-4% 22%
>4% 7%
That said, RPHIX is not a substitute for a 3, 6, 10 month UST or CD.