PBD: Another Clean Energy ETF With Non-Financial Focus

24K-Production The Invesco Global Clean Energy ETF (NYSEARCA:PBD), the “Fund,” is based on the WilderHill New Energy Global Innovation Index (the “Index”). According to Invesco: The Fund will generally invest at least 90% of its total assets in securities that comprise the Index as well as American Depository Receipts (“ADRs”) and global depositary receipts (“GDRs”) that represent securities in the Index. The Index is comprised of companies engaged in the business of the advancement of cleaner energy and conservation. The Fund and the Index are rebalanced and reconstituted quarterly.” Performance Since inception in mid-2007, PBD has lost 14.1% of its value. That compares unfavorably to the S&P (SPY) return of +219.3 %. Yahoo Finance data The price of PBD spiked around the 2020 U.S. presidential election and for about six months into the Biden Administration. I believe that reflected…

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