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Invesco WilderHill Clean Energy ETF (PBW - Free Report) topped the list of the best-performing ETFs of the fourth quarter with impressive returns of more than 98%.
The rally was primarily driven by the president-elect Joe Biden’s push for going greener. Biden plans to pump $2 trillion into green energy over four years to build solar panels, charging stations and more; vows to rejoin the Paris climate in “exactly 77 days;” and aims for net-zero emissions by 2050 (read: Go Greener in 2021 With Best ETFs & Stocks of 2020).
Additionally, interest in environmental, social and governance investing has been rising rapidly with firms across the globe investing in clean tech business. The latest coronavirus relief package has set the stage for further rally in the green energy space. This is especially true as the bill includes billions of dollars to promote clean energy such as wind and solar power while limiting the use of a potent greenhouse gas in refrigerants and extending tax incentives for wind and solar energy. This is the first time in 13 years that Congress has used the energy policy to tackle global warming.
Let’s take a closer look at the fundamentals of PBW.
PBW in Focus
This ETF offers exposure to companies that are publicly traded in the United States and engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds 46 stocks in its basket with none accounting for more than 7% of assets. American firms dominate the fund’s portfolio with nearly 75% share, followed by China (9.8%) and Canada (8.5%). The product has amassed $2.3 billion in its asset base and trades in a solid volume of around 547,000 shares a day. It charges investors 70 bps in fees per year (see: all the Alternative Energy ETFs).
Though most of the stocks in the fund’s portfolio delivered strong returns, some stocks outperformed, gaining in triple digits. Below, we have highlighted those five best-performing stocks in the ETF with their respective positions in the fund’s basket:
Best-Performing Stocks of PBW
FuelCell Energy Inc. (FCEL - Free Report) : The stock has skyrocketed about 475% in the fourth quarter. It has seen a positive earnings estimate revision of 2 cents for the fiscal year (ending Oct 2021) over the past month with an expected earnings growth rate of 57.1%. FCEL currently has a Zacks Rank #3 (Hold) and a Growth Score of B. The stock occupies the second spot in the fund’s portfolio, making up for 6.2% share. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Blink Charging Co. (BLNK - Free Report) : The stock has soared about 380% in the fourth quarter. It has witnessed no earnings estimate revision in the past one month for this year and has an estimated earnings growth decline of 2.7%. It holds the top spot in the fund’s basket with 6.9% of the total assets.
Infrastructure and Energy Alternatives Inc. (IEA): The stock has soared about 199% in the fourth quarter. It currently has a Zacks Rank #3 and a VGM Score of F. The stock has witnessed no earnings estimate revision in the past month for this year but its earnings are expected to decline 138%. It accounts for 1.2% of the total assets.
ElectraMeccanica Vehicles Corp. : This stock makes up for 0.7% of the assets and has jumped 179% in the fourth quarter. It has seen a negative earnings estimate revision of 3 cents for this year over the past 30 days and has estimated earnings growth of 15.6%. ElectraMeccanica Vehicles currently has a Zacks Rank #4 (Sell) and a VGM Score of F (read: 8 ETFs That Have Gained More Than 100% in 2020).
Plug Power Inc. PLUG: The stock has risen more than 165% in the fourth quarter. It has seen no earnings estimate revision for this year over the past month. Plug Power currently has a Zacks Rank #4 and an unfavorable VGM Score of F. The stock occupies the third spot in the fund’s portfolio, making up for 3.6% share.
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5 High-Flying Stocks of the Top ETF in Q4
Invesco WilderHill Clean Energy ETF (PBW - Free Report) topped the list of the best-performing ETFs of the fourth quarter with impressive returns of more than 98%.
The rally was primarily driven by the president-elect Joe Biden’s push for going greener. Biden plans to pump $2 trillion into green energy over four years to build solar panels, charging stations and more; vows to rejoin the Paris climate in “exactly 77 days;” and aims for net-zero emissions by 2050 (read: Go Greener in 2021 With Best ETFs & Stocks of 2020).
Additionally, interest in environmental, social and governance investing has been rising rapidly with firms across the globe investing in clean tech business. The latest coronavirus relief package has set the stage for further rally in the green energy space. This is especially true as the bill includes billions of dollars to promote clean energy such as wind and solar power while limiting the use of a potent greenhouse gas in refrigerants and extending tax incentives for wind and solar energy. This is the first time in 13 years that Congress has used the energy policy to tackle global warming.
Let’s take a closer look at the fundamentals of PBW.
PBW in Focus
This ETF offers exposure to companies that are publicly traded in the United States and engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds 46 stocks in its basket with none accounting for more than 7% of assets. American firms dominate the fund’s portfolio with nearly 75% share, followed by China (9.8%) and Canada (8.5%). The product has amassed $2.3 billion in its asset base and trades in a solid volume of around 547,000 shares a day. It charges investors 70 bps in fees per year (see: all the Alternative Energy ETFs).
Though most of the stocks in the fund’s portfolio delivered strong returns, some stocks outperformed, gaining in triple digits. Below, we have highlighted those five best-performing stocks in the ETF with their respective positions in the fund’s basket:
Best-Performing Stocks of PBW
FuelCell Energy Inc. (FCEL - Free Report) : The stock has skyrocketed about 475% in the fourth quarter. It has seen a positive earnings estimate revision of 2 cents for the fiscal year (ending Oct 2021) over the past month with an expected earnings growth rate of 57.1%. FCEL currently has a Zacks Rank #3 (Hold) and a Growth Score of B. The stock occupies the second spot in the fund’s portfolio, making up for 6.2% share. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Blink Charging Co. (BLNK - Free Report) : The stock has soared about 380% in the fourth quarter. It has witnessed no earnings estimate revision in the past one month for this year and has an estimated earnings growth decline of 2.7%. It holds the top spot in the fund’s basket with 6.9% of the total assets.
Infrastructure and Energy Alternatives Inc. (IEA): The stock has soared about 199% in the fourth quarter. It currently has a Zacks Rank #3 and a VGM Score of F. The stock has witnessed no earnings estimate revision in the past month for this year but its earnings are expected to decline 138%. It accounts for 1.2% of the total assets.
ElectraMeccanica Vehicles Corp. : This stock makes up for 0.7% of the assets and has jumped 179% in the fourth quarter. It has seen a negative earnings estimate revision of 3 cents for this year over the past 30 days and has estimated earnings growth of 15.6%. ElectraMeccanica Vehicles currently has a Zacks Rank #4 (Sell) and a VGM Score of F (read: 8 ETFs That Have Gained More Than 100% in 2020).
Plug Power Inc. PLUG: The stock has risen more than 165% in the fourth quarter. It has seen no earnings estimate revision for this year over the past month. Plug Power currently has a Zacks Rank #4 and an unfavorable VGM Score of F. The stock occupies the third spot in the fund’s portfolio, making up for 3.6% share.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>