Pass on this ETF

Article Excerpt

INVESCO SOLAR ETF $23 (New York symbol TAN; TSINetwork ETF Rating: Aggressive; Market cap: $363.0 million) has a limited focus, investing in companies in the solar energy industry. Most are in the U.S. and China. Among renewable energy sources, solar is forecast to expand the fastest over the next two decades. Specifically, electricity generation capacity should increase from 0.2 trillion kilowatt hours in 2015 to 1.4 trillion kilowatt hours by 2040 (see page 80). However, that will still be considerably below wind energy output. This ETF holds a concentrated portfolio of 23 companies; these are mostly small or medium-sized firms. The top 10 stocks make up a high 57% of the portfolio. They include First Solar at 8.8%, SolarEdge Technologies (7.0%), Sunrun (6.3%, Enphase Energy (5.7%), Xinyi Solar (5.5%), Altantica Yield (4.7%), Solaria Energia y Medio Ambiente SA (4.7%), Canadian Solar (4.6%).and Hannon Armstrong Sustainable Infrastructure Capital (4.6%). The fund launched April 15, 2008, and currently has an asset size of $363 million. That makes it…

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