After emerging as the hottest sector in the energy universe amid the ESG and clean energy push, renewable energy stocks and funds finally came unstuck in 2021 thanks to steep valuations and massive supply chain disruptions. The iShares Global Clean Energy ETF (ICLN), a catch-all bet on clean energy, is down 9.1% over the past 12 months compared to a 56.9% gain by its much bigger fossil fuel cousin, the Energy Select Sector SPDR Fund (NYSEARCA:XLE). XLE has also taken the lead in attracting new money, pulling in $1.75B over the past year compared to ICLN’s $907.9M.But the tables have quickly turned ever since Russia invaded Ukraine.ICLN has seen an inflow surge of $266M since March 1, while XLE has seen $1.46B walk out the door as Russia’s war on Ukraine shines a spotlight on energy security and also signifies a potential top for oil and gas stocks as market players take profits….
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