Its top picks are three Chinese companies: ReneSola (SOL), a maker of the crystalline raw material used to make solar wafers, at 5.2% of the fund; LDK Solar (LDK), the world's largest manufacturer of solar wafers, at 5.2%; and JA Solar Holdings (JASO), at 4.8%.
ReneSola is the star of the group, with its shares up 18% this year after a gain of 84% in 2010.
As could be expected for a fund that is so focused, Guinness Atkinson Alternative Energy's returns are volatile. Last year, it lost 21% of its value.
Also off to a quick start this year is the $1.2 billion Fidelity Select Electronics Fund (FSELX), up 6.7%. Its biggest holding, at 9.9% of the fund, is Marvell Technology (MRVL), up 6.7% this year. A top performer is its fourth-largest holding, at 4.9%, Micron Technology (MU), up 24%. But the hottest stock in the fund is a maker of graphics-processor chips, Nvidia (NVDA), up 56%.Fidelity Select Electronics gained 17% in 2010 and 85% the year before. Its performance can be volatile since the portfolio typically has a big allocation to semiconductor stocks.
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