What is the investment philosophy?
The Invesco Solar ETF is based on the MAC Global Solar Energy Index. The Fund invests at least 90% of its total assets in the securities, American depositary receipts (ADRs) and global depositary receipts (GDRs) that comprise the Index. The Index is comprised of companies in the solar energy industry. The index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are rebalanced quarterly.
Invesco Solar ETF offers a unique take on renewable energy, holding a concentrated portfolio of companies involved in the solar energy industry, thus cutting out much of the broader renewable energy market. The fund’s selection universe begins with global solar energy companies of all caps including all solar technologies (crystalline and thin-film photovoltaic solar and solar thermal), the entire value chain (raw materials, installers, to financing), and related solar equipment (power inverters and encapsulates).These eligible companies are then categorized into two groups: pure-play or medium-play stocks. Pure-play companies consider solar industry as their primary business wherein they generate more than two-thirds of their revenue from. Medium-play companies cover those with multiple business industries but still are generating more than one-third of their revenue from solar related business. The fund’s weighting scheme attempts to boost exposure to pure-play companies and therefore underweights the medium-play group. Index constituents are rebalanced quarterly.
MSCI and Factor Box
Value: captures excess returns to stocks that have low prices relative to their fundamental value.
Low Size: captures excess returns of smaller firms (by market capitalization) relative to their larger counterparts.
Momentum: reflects excess returns to stocks with stronger past performance.
Quality: captures excess returns to stocks that are characterized by low debt, stable earnings growth, and other “quality” metrics.
Yield: captures excess returns to stocks that have higher-than-average dividend yields.
Low Volatility: captures excess returns to stocks with lower than average volatility, beta, and/or idiosyncratic risk.
Geography: Broad Global
Sector: Clean Energy
Index Tracked: MAC Global Solar Energy Index
Benchmark: MSCI World Index
Management Fee: 0.50%
Expense Ratio: 0.71%
Investment Style: Sector Equity Technology
Fund Size (net assets): USD 3.67B
Source: MSCI Inc. Last update: Dec 6th, 2020
Morningstar Sustainability Score
Source: Morningstar, Inc.
Last update: Dec 6th, 2020
Data by the open sources of the instrument provider. Last update: 7.12.2020
Rolling performance at 03/12/2020
1 Year: 119.42%
3 Years: 45.16%
Performance data by the open sources of the instrument provider. Last update: 7.12.2020
Top 10 Holdings
Enphase Energy Inc
SolarEdge Technologies Inc
Xinyi Solar Holdings Ltd
First Solar Inc
Hannon Armstrong Sustainable Infrastructure Capital Inc
GCL-Poly Energy Holdings Ltd
Daqo New Energy Corp ADR
JinkoSolar Holding Co Ltd ADR
Top portfolio holdings as of 7.12.2020 | Source: instrument provider.
Country Allocation (%)
Sector Allocation (%)
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