With oil prices near record highs and more companies concerned about carbon footprints, many investors see these signs as opportunities to invest in green exchange traded funds (ETFs). Even if some of the newer companies devoted to environmentally-friendly energy sources fail, many experts believe this sector is here to stay and will only increase, reports Daniel McGinn for Newsweek.
In fact, in sectors such as solar energy and biofuels, payrolls are increasing so fast that it’s difficult for researchers to keep track. Some experts believe the clean-tech sector could produce 50,000 new jobs by 2010. The performance of alternative energy ETFs seems to back up the growing popularity and interest in green energy, as the funds are up across the board year-to-date:
- PowerShares WilderHill Clean Energy Portfolio (PBW) – up 33.4%
- PowerShares Cleantech (PZD) – up 30.4%
- Market Vectors Environmental Services ETF (EVX) – up 23.2%
Claymore/LGA Green ETF (GRN) – up 7.4%
- PowerShares WilderHill Progressive Energy (PUW) – up 16.2%
- Market Vectors Global Alternative Energy ETF (GEX) – up 11.5% for the last three months, having launched in May
- PowerShares Global Clean Energy (PBD) – up 11.1% for the last three months, having launched in June
- First Trust NASDAQ Clean Edge U.S. Liquid ETF (QCLN) – up 6.6% for the last three months, having launched in February
- Market Vectors Nuclear Energy ETF (NLR) – up 5.4% for the month, having launched in August
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.