Environmentally friendly exchange-traded funds (ETFs) haven’t all wowed investors with their recent gains, but a broad-based rally appears to be underway. Over the last month, the Market Vectors Global Alternative Energy ETF (GEX) and First Trust NASDAQ Clean Edge Green ETF (QCLN) have led the sector with steady runs up by 7% and 5.5% respectively. While the performance pales in comparison to select individual equity plays in the “green” segment, these funds are still trading at a discount to their early-January valuations, and with all 14 components of the Green ETFs Index in positive territory over the past month, it will be interesting to see if they can pick up speed in 2010.
Currently the Claymore/MAC Global Solar Index ETF (TAN), PowerShares Global Wind Energy Portfolio (PWND), and iShares S&P Clean Energy Index (ICLN) are all trading -15% or more below their mid-January pricing.
Elsewhere in the sector, the First Trust ISE Global Wind Energy ETF (FAN), PowerShares WilderHill Clean Energy ETF (PBW), and PowerShares Global Clean Energy Portfolio (PBD) are also off by double-digit percentages over the past three months.
The Green ETFs Index is now trailing the S&P 500 by just -30 basis points over the past month. Meanwhile, tickerspy’s environmentally friendly sub-sector Indexes are mixed for the period.
Tags: FAN, GEX, ICLN, PBD, PBW, QCLN, TAN
April 12th, 2010 at 6:14 pm
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