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July 01, 2008 at 04:00 AM
The First Trust ISE Global Wind Energy ETF (FAN) has lifted off and landed on the NYSE Arca.
The newly launched exchange-traded fund (ETF) is linked to the ISE Global Wind Energy Index, which contains 52 holdings. Top holdings include Repower Systems, Vestas Wind Systems, and Gamesa Corp. Tecnologica.
According to the prospectus, the fund’s annual expense ratio is 0.60 percent.
The index provides a global benchmark of public companies that are active in the wind energy industry based on analysis of the products and services offered by those companies.
FAN will join a small but growing lineup of alternative energy or power ETFs. Even though the total number of ETFs that invest in alternative energy strategies has jumped to 15 from just two over the past few years, the universe is still very small.
In late June, Invesco PowerShares Capital Management said it planned to list a global wind energy portfolio on Nasdaq: PowerShares Global Wind Energy Portfolio, ticker PWND.
The PowerShares wind-energy portfolio is based on the NASDAQ OMX Clean Edge Global Wind Energy Index, which includes companies that are primarily manufacturers, developers, distributors, installers and users of energy derived from wind sources. Top holdings, by country, are firms based in Denmark, Germany, Spain and the United States.
