New Energy Index – Quarterly results and update

I let this slip by without even thinking about it. The New Energy Index (NEX) re-balances and adds/removes stocks at the end of each quarter. The NEX is tracked by the PowerShares Global Clean Energy Fund ETF (PBD: 9.86 +0.18 +1.86%). I do a weekly update on the NEX, so here I will just bullet some interesting facts:

For Q1, 2008 the NEX fell 17.9% led downward by solar energy (28% weighted of portfolio) off 31.6%.
Annualized 1 and 3 year returns for the index are 10.9% and 28.6%.
Of the individual stocks in the index, the 5 biggest losers were U.S. based while 7 of the 10 stocks that had gains for the 1st quarter were from outside the U.S.
Starting the new quarter, 8 stocks were added and 4 were removed bring the total companies in the index to 89 from 20 countries.
Maximum weighting of any one stock is 2.28% of the portfolio. The top 10 holdings are all starting the quarter at 2.28%.
The top 10 holdings are 9 European stock and 1 from Australia.

The PowerShares Global Clean Energy Fund (PBD: 9.86 +0.18 +1.86%) is my choice for renewable investing and is a component of this site’s Growth Portfolio. Exxon Mobile in it’s 2007 annual The Outlook for Energy forecasts global energy use will increase 1.3% annually until 203o but wind, solar and biofuel use will grow at a 9% rate. That is a pretty strong argument for investing in renewable energy.

Note: I currently do not have a position in PBD.