Energy

Clean energy will win out ‘over decades, not days,’ ETF manager says

0


Long-term investors don’t need to worry about the cracks forming in the clean energy trade this year, says one market watcher.

Popular exchange-traded funds focused on sustainable energy including the Invesco Solar ETF (TAN) and the Invesco WilderHill Clean Energy ETF (PBW) have lost significant momentum this year, down about 30% and 26%, respectively.

But after a red-hot 2020 for both funds — TAN climbed nearly 234% and PBW gained over 202% — this bump in the road is natural, said John Hoffman, Invesco’s head of ETFs and indexed strategies for the Americas.

“When you think about the transformation to clean energy, we think about it over decades, not days,” Hoffman told CNBC’s “ETF…



Source cnbc.com

Marc Lore says venture firm with A-Rod will make bets on digital retail

Previous article

Photos show the impact at the pumps from the Colonial Pipeline hack

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Energy