Anyone on the fence about green and alternative energy exchange traded funds (ETFs) might find themselves converted by gains in August.
Advances within the alternative energy sector symbolized major reversals from previous setbacks that were suffered before, reports Richard Widows of TheStreet.
These green investments are actually seeing green as of late, and they are becoming a mainstay of the investment lineup. What’s more, they gained traction in a month where both oil and gas continued their declines. Perhaps those high prices put enough fear into people that they’re looking for alternative sources of energy regardless of what happens with other fuels.
In August, the S&P 500 struggled to keep a gain of 1.2%, while most alternative energy ETFs had double the gains of that.
Among the alternative energy funds that gained in August and their performance for that month:
- Claymore/Mac Global Solar Index (TAN), up 11.5%
- First Trust NASDAQ Clean Edge U.S. Liquid (QCLN), up 6.7%
- iPath Barclay Capital Global Carbon Total Return (GRN), up 18.5%
- Market Vectors Global Alternate Energy Fund (GEX), up 6.2%
- Market Vectors Solar Energy (KWT), up 9.2%
- PowerShares Wilder Hill Clean Energy (PBW), up 3.9%
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.