Posts for Ticker ‘FAN’

Second Wind ETF Launch (IVZ, PWND, FAN)

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

Posted on: June 26, 2008 – 8:19 am in Alternative Energy, ETF, , ,

Wind ETF Launch: First Trust ISE Global Wind Energy ETF (FAN)

There was an interesting ETF launched today on the NYSE Euronext as a Wind Energy ETF.  The First Trust ISE Global Wind Energy ETF (NYSE Arca: FAN) launched today.  This index has a criteria based upon an equity’s market capitalization, liquidity and weighting concentration requirements.  Most of the major players in this ETF are global in nature and many do not even trade in the U.S.

These are the top holdings  of the index as of today’s fact sheet:

  • Repower Systems                    10.34%
  • Vestas Wind Systems A/S        9.95%
  • Gamesa Corp Tecnologica SA   8.07%
  • Hansen Transmissions Int’l NV   6.03%
  • Theolia                                     5.25%
  • Japan Wind Dev. Co., Ltd           5.06%
  • Nordex AG                               4.61%
  • Babcock & Brown Wind Ptr Gr.  4.44%
  • Clipper Windpower Plc              3.20%
  • Gurit Holding AG                      2.64%

These are some of the facts of the total ETF as well:

  • Number of Stocks             52
  • Maximum Market Cap.     $299.22 Billion
  • Median Market Cap.         $1.53 Billion
  • Minimum Market Cap.      $203 Million
  • Price/Earnings                 25.36
  • Price/Book                      3.06
  • Price/Cash Flow              22.26
  • Price/Sales                     2.30

FAN is designed to track the performance of the ISE Global Wind Energy Index and will invest at least 90% of its assets in common stocks that comprise the Index or in depository receipts representing securities in the Index.

This one actually had a decent launch considering the lack of press and considering the ADR or foreign listed composition.  With less than 30 minutes to the close it has traded 356,000 shares.

Jon C. Ogg
June 18, 2008

Posted on: June 18, 2008 – 2:39 pm in Alternative Energy, ETF,