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New Alt Energy, Africa ETFs Disappoint in October

Possibly the most conventional offering on the table, the iShares S&P Global Nuclear Index Fund (NUCL), contains established stocks such as McDermott International (MDR - Get Report), FPL Group (DPL) and First Energy (FE).

Philosophically, NUCL is arguably the antithesis of the iShares S&P Global Clean Energy Industry Fund (ICLN), the major holdings of which include First Solar (FSLR - Get Report), energy-from-waste pioneer Covanta Holdings (CVA) and Sunpower (SPWRA).

Of the Africa-Middle-East pair of ETFs on the list, the PowerShares MENA Frontier Countries Fund (PMNA), with large positions in securities such as Arab Bank and Kuwait Finance, is more heavily invested in the oil-rich Persian Gulf than in the emerging African region.

On the other hand, the Market Vectors Africa Index ETF (AFK) is invested in large African corporations.

Selected New 'Concept' ETFs
Name (Ticker), Ratings Grade
Inception Date
Investment Concept
Oct. Total Return (%)
3-Month Total Return (%)
First Trust ISE Global Wind Energy Index Fund (FAN), U
First Trust Advisors
ISE Global Wind Energy Index
iPath Barclays Capital Gl Carbon Idx Tot Retn (GRN), U
Barclay's Global
Barclays Capital Global Carbon Index Total Return
iShares S&P Global Nuclear Index Fd (NUCL), U
Barclay's Global
The S&P Global Nuclear Energy Index
iShares S&P Global Clean Energy Ind (ICLN), U
Barclay's Global
S&P Global Clean Energy Index
PowerShares Global Wind Energy Port (PWND), U
Invesco PowerShares
NASDAQ OMX Clean Edge Global Wind Energy Index
PowerShares MENA Frontier Countries (PMNA), U
Invesco PowerShares
Middle East or African & New Frontier Countries
Market Vectors Africa Index ETF (AFK), U
Van Eck Associates
Dow Jones Africa Titans 50 Index
S&P 500 Total Return
Source: Ratings (Data as of 9/30/2008)
For more information, check out an explanation of our ratings.
Richard Widows is a senior financial analyst for Ratings. Prior to joining, Widows was senior product manager for quantitative analytics at Thomson Financial. After receiving an M.B.A. from Santa Clara University in California, his career included development of investment information systems at data firms, including the Lipper division of Reuters. His international experience includes assignments in the U.K. and East Asia.
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PMNA $13.61 0.44%
NUCL $36.15 0.75%
GRN $7.99 0.00%
ICLN $8.81 -0.46%
FSLR $51.77 -2.00%


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