Wind Energy ETFs Sink On Weak Outlook For Developed Markets
August 18, 2010 at 16:43 PM EDT
Through nearly eight months, 2010 has been an extremely rough year for energy ETFs, including both traditional oil and gas-focused funds as well as “greener” alternative energy products. Traditional energy ETFs have plummeted thanks in large part to the fallout from the Gulf oil spill, which has limited demand for many oil service firms and painted an uncertain regulatory picture. Meanwhile, alternative energy ETFs have seen generous subsidies cut by cash-strapped governments across the world as “austerity” became a new buzz word. Both sectors have also been battered by weak overall economic outlooks; the grim forecasts have helped to moderate oil prices, which in turn has taken some of the urgency out of the hunt for alternative fuel sources. Some alternative energy ETFs are down as much as 30% on the year. Unfortunately for wind power-focused funds in particular, this downward trend looks likely to continue well into the fall [...] Click here to read the original article on ETFdb.com. Related Stories: Wind ETFs Head-To-Head: PWND vs. FAN Earth Day Special: Definitive Guide To Clean Energy ETFs Chinese Demand Could Boost These Three Clean Energy ETFs