There was an interesting ETF launched today on the NYSE Euronext as a Wind Energy ETF. The First Trust ISE Global Wind Energy ETF (NYSE Arca: FAN) launched today. This index has a criteria based upon an equity’s market capitalization, liquidity and weighting concentration requirements. Most of the major players in this ETF are global in nature and many do not even trade in the U.S.
These are the top holdings of the index as of today’s fact sheet:
- Repower Systems 10.34%
- Vestas Wind Systems A/S 9.95%
- Gamesa Corp Tecnologica SA 8.07%
- Hansen Transmissions Int’l NV 6.03%
- Theolia 5.25%
- Japan Wind Dev. Co., Ltd 5.06%
- Nordex AG 4.61%
- Babcock & Brown Wind Ptr Gr. 4.44%
- Clipper Windpower Plc 3.20%
- Gurit Holding AG 2.64%
These are some of the facts of the total ETF as well:
- Number of Stocks 52
- Maximum Market Cap. $299.22 Billion
- Median Market Cap. $1.53 Billion
- Minimum Market Cap. $203 Million
- Price/Earnings 25.36
- Price/Book 3.06
- Price/Cash Flow 22.26
- Price/Sales 2.30
FAN is designed to track the performance of the ISE Global Wind Energy Index and will invest at least 90% of its assets in common stocks that comprise the Index or in depository receipts representing securities in the Index.
This one actually had a decent launch considering the lack of press and considering the ADR or foreign listed composition. With less than 30 minutes to the close it has traded 356,000 shares.
Jon C. Ogg
June 18, 2008
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