Wind Energy ETF To Set Sail

First Trust Advisors L.P. unveiled the First Trust ISE Global Wind Energy Index Fund, an exchange-traded fund (ETF) anticipated to begin trading June 18.

A news release said the new offering will seek investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of the ISE Global Wind Energy Index, a modified market capitalization weighted equity index consisting of a portfolio of companies throughout the world active in the wind energy industry based on an analysis of the products and services offered by these companies.

The index includes only companies with market capitalizations of at least $100 million, the announcement said. First Trust will be the investment adviser for the ETF.

“Industry experts are predicting continued growth of installed wind generation capacity worldwide for a number of reasons, including concerns about supply security, rising fossil fuel costs, and mitigation efforts related to environmental problems and climate change,” said Robert Carey, CIO of First Trust, in the release. “First Trust sees the acceleration in the building of global wind generation capacity as a strong signal that wind generation has become an important global growth industry.”

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