Just two weeks after the first wind exchange traded fund (ETF) blew into the market, PowerShares now has its own offering.

The PowerShares NASDAQ OMX Clean Edge Global Wind Energy Index (PWND) is a fund with 31 companies and an expense ratio of 0.75%.

There are significant differences between this new fund and the First Trust ISE Global Wind Energy Index (FAN), including size and expense ratio. FAN clocks in with 67 companies and a 0.60% expense ratio.

PWND is a little more spread out among the countries, reports Murray Coleman for Index Universe. The top countries are Germany (17.1%), Denmark (13.9%), Spain (12%) and the United States (11.3%). Fan’s top countries are Germany (23%), the United States (17.9%) and Spain (16.1%).

FAN is 66% weighted in pure-plays, while PWND is 90% weighted in them. Those numbers could shift as cap rules shift for the individual holdings.

The unique methodologies used by each of these funds could make them appealing to different types of investors looking to capitalize on the growing market for wind energy both here and around the world.

Tags: Commodity ETFs, Energy, EWG, EWP