However, countries around the world are pushing toward alternative energy sources. The environment is also in the spotlight now as the United Nations climate talks have been underway in Paris, France. [ETFs For The Environmentally Conscious]

Global clean energy companies “have benefited more from the accelerating push toward renewable sources of energy in China, India, Africa and even the Middle East,” Bloom said.

William Belden, head of ETF business development at Guggenheim Investments, warned that while demand for alternative energy continues to grow, especially in the emerging markets, the clean energy industry remains volatile as witnessed this year.

Nevertheless, the First Trust Global Wind Energy Fund (NYSEArca: FAN), which focuses on the wind industry, has stood out this year, rising 14.0% year-to-date. Ryan Issakainen, ETF strategist at First Trust, believes the outperformance may be attributed to attractive valuations, stabilizing Europe where many major companies are based and improved viability of wind power, which is “a little bit more viable without needing as much support from government policy.”

For more information on the green energy space, visit our clean energy category.

Max Chen contributed to this article.