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  • Green ETF Updates Yields Surprises 0 comments
    Apr 8, 2010 6:39 PM | about stocks: KWT, PWND, QCLN

    Coming off a year of big percentage gains, ETFs and their underlying indexes are seeking to keep the ball moving forward with a number of updates. Individual investors can get a good feel for what the experts are thinking from evaluating what companies they are choosing to add and remove from their indexes (ETFs are designed to track their underlying indexes).  To get an idea of the kind of movements taking place, let’s take a look at the updates to one green ETF:

    First Trust NASDAQ Clean Edge Green Energy
    Index Fund
     (NASDAQ:QCLN)

    Underlying Index: NASDAQ Clean Edge Green Energy Index (CELS)

    March 15, 2010 – Semi Annual Evaluation

    Added:
    AIXTRON (NASDAQ:AIXG)
    A123 Systems (AONE)
    Green Plains Renewable Energy (NASDAQ:GPRE)
    Universal Display Corporation (NASDAQ:PANL)
    Power-One (NASDAQ:PWER)
    STR Holdings (NYSE:STRI)
    UQM TECHNOLOGIES, INC. (NYSEMKT:UQM)
    Veeco Instruments Inc. (NASDAQ:VECO)

    Removed:
    Advanced Analogic Technologies (NASDAQ:AATI)
    China BAK Battery (NASDAQ:CBAK)
    Greatbatch (NYSE:GB)
    Raser Technologies (RZ)
    Ultralife Corporation (NASDAQ:ULBI)
    Valence Technology, Inc. (VLNC)

    A couple interesting notes to make from these changes, keeping in mind that the underlying rationale for the changes are only known to the managers of the index. Although the solar sector has been taking some heat lately, Clean Edge has chosen to add three companies in the solar supply sector: Satcon Technology, STR Holdings and Veeco Instruments. Power-One is also related, which provides renewable energy products, which convert solar or wind energy into usable grid connected power.

    Four of the companies they’ve removed are in the battery and energy storage sector: China Bak Battery, Greatbatch, Ultralife and Valance Technology. However they’ve chosen to add one of the few IPOs in the Eco sector recently, battery company A123 Systems, which recently hit a new low.

    Here are a few other funds and indexes that have made changes recently:

    PowerShares Global Progressive
    Transportation Portfolio (PTRP)
    Underlying Index: Wilder NASDAQ OMX Global Energy Efficient Transport Index (HAUL)

    March 22, 2010 – Quarterly Evaluation

    Added:
    Capstone Turbine Corporation (NASDAQ:CPST)
    Kuehne + Nagel International AG (KNIN VX)
    Westinghouse Air Brake Technologies Corporation (NYSE:WAB)

    Removed:
    Log-in Logistica Intermodal S.A. (LOGN3 BS)
    New Flyer Industries (NFI-U CN)
    Quantum Fuel Systems Technologies (NASDAQ:QTWW)
    UQM Technologies (UQM)

    PowerShares Global Wind Energy Portfolio (NASDAQ:PWND
    Underlying Index: NASDAQ OMX Clean Edge Global Wind Energy Index (QWND)

    March 22, 2010 – Semi Annual Evaluation

    Added: 
    China Longyuan Power Group Corporation Limited (916 HK)
    Edison International (NYSE:EIX)

    Removed:
    Fersa Energias Renovables, S.A. (FRS SM)
    Suzlon Energy Limited (SUEL IS)
    Theolia SA (TEO FP)
    Vossloh AG (VOS GY)

    Van Eck Market/Vectors Solar Energy ETF (NYSEARCA:KWT)
    Underlying Index: Ardour Solar Energy Index (SOLRX)

    March 10, 2010 – Quarterly Rebalancing
    Added:
    Solartech Energy Corp. (3561 TT)
    Gintech Energy Corp. (3514 TT)
    Neo Solar Power Corp. (3576 TT)
    Green Energy Technology Inc. (3519 TT)

    Removed:
    None

     



    Disclosure: None
    Stocks: KWT, PWND, QCLN
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