If one ETF for covering the global trend towards wind power wasn’t enough, we have the announcement of a second wind energy ETF. Invesco’s (NYSE: IVZ) PowerShares Capital Management ETF unit has announced the anticipated listing of a global wind energy portfolio. The new ETF is PowerShares Global Wind Energy Portfolio will trade under the "PWND" stock ticker on NASDAQ. This ETF is based on the NASDAQ OMX Clean Edge Global Wind Energy Index that tracks manufacturers, developers, distributors, installers and users of energy derived from wind sources.
Just on June 18 we ran a piece describing the The First Trust ISE Global Wind Energy ETF (NYSE Arca: FAN), so it appears there will be two new fresh wind ETF’s trading in short order. On the surface, it looks like there are also going to be many overlaps within these similar ETF’s.
Jon C. Ogg
June 26, 2008
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