First Solar ETF- KWT

First Solar ETF launched; a bit late but this will be followed by a series of new Solar ETFs.

New York-based asset manager Van Eck Global marked Earth Day today by launching Market Vectors – Solar Energy ETF (KWT) on the American Stock Exchange^®. This new exchange-traded fund (ETF) is among the first solar ETFs listed in the U.S., and is unique in the degree of pure-play exposure it provides to the global solar industry. KWT seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ardour Solar Energy Index^SM (SOLRX), the pure-play leader in tracking the solar industry. KWT’s total net expense ratio is 0.65%.

On an index-weighted basis, the companies in SOLRX derive well over 90% of their revenues from solar energy. Currently, the four top holdings are First Solar, Q-Cells, Renewable Energy and Solarworld, with weightings of 10%.