Last September we covered Solar Energy related ETFs which were literally getting trounced at the time, and the situation has not improved nearly eight months later.
Guggenheim Solar ETF (NYSEArca: TAN) and Market Vectors Solar Energy (NYSEArca: KWT) are currently trading near all-time lows and are down 7.29% and 9.21% respectively just year to date, despite a broad market rally thus far in 2012 with the S&P 500 up 11.77%.
Those looking at TAN’s recent share price with a $22 handle should not be fooled either, as the ETF was trading in single digits for most of last year but underwent a “reverse split” which has become increasingly common in ETFs that trade below $10 because no fund sponsor wants their issues to gradually converge to zero over time.
Since inception in April of 2008, TAN has dropped an eye popping 91.38% while KWT has lost 91.66% since debuting in early May of 2008. Current top holdings in TAN are GCL-Poly Energy Holdings Limited (13.94%), FSLR (10.75%), GTAT (8.98%), MBTN (6.93%), and TSL (5.30%) while top weightings in KWT are as follows: GTAT (9.79%), WFR (8.57%), TSL (6.98%), FSLR (6.28%), and Gintech Energy Corporation (5.88%).