The ISE Clean Edge Global Wind Energy Index (GWE) is a float-adjusted modified market capitalization-weighted index designed to track the performance of companies that are engaged and involved in the wind energy industry based on analysis of the products and services offered by those companies (including both pure play companies focused on the wind energy sector and diversified multinationals with wind energy sector exposure).
An exchange traded fund, FAN , is based on the Nasdaq Clean Edge ISE Global Wind Energy Index and is sponsored by First Trust Advisors L.P. See index components and learn more about our methodologies, up-to-date performance, and licensed products below.
ISE Clean Edge Global Wind Energy Index Components (Last updated September 2022)
ISE Clean Edge Global Wind Energy Index Changes
As a result of the September 2022 evaluation and/or intraquarterly changes, the following securities were most recently added or removed from the index:
Additions: Aeris Indústria e Comércio de Equipamentos para Geração de Energia S.A. (Sāo Paulo: AERI3), Century Iron & Steel Industrial Co., Ltd. (Taiwan: 9958), ERG S.p.A. (Milan: ERG), Omega Energia S.A. (Sāo Paulo: MEGA3), Owens Corning (NYSE: OC), and OX2 AB (Stockholm: OX2)
Deletions: Falck Renewables S.p.A. (Milan: FKR), Infrastructure & Energy Alternatives, Inc. (NASDAQ: IEA), and Siemens Gamesa Renewable Energy S.A. (Madrid: SGRE)
Historical changes are available here.
ISE Clean Edge Global Wind Energy Index Performance
Historical index performance is available here .
ISE Clean Edge Global Wind Energy Index Methodologies
The ISE Clean Edge Global Wind Energy Index (GWE) (formerly the ISE Global Wind Energy Index) began on December 16, 2005 with a base value of 100.00. Click here to learn more.
Index eligibility is limited to specific security types only. The security type eligible for the Index include common stocks, ordinary shares and depositary shares. Security types not eligible for the index include closed-end funds, exchange-traded funds (ETF), investment vehicles or Real Estate Investment Trusts (REIT).
To be eligible for inclusion in the Index, a security must meet the following criteria:
- For Pureplay constituents, the issuer of the security must be primarily engaged and involved actively in some aspect of the wind energy industry such as the development or management of a wind farm; the production or distribution of electricity generated by wind power; involvement in the design, manufacture, or distribution of machinery or materials designed specifically for the industry; as according to Clean Edge. For evaluation purposes we look for 50% or more of revenues and/or generating assets (energy capacity and/or production) to come from wind-related activities;
- For Diversified constituents, the issuer of the security must be involved and engaged in some aspect of the wind energy industry such as the development or management of a wind farm; the production or distribution of electricity generated by wind power; involvement in the design, manufacture or distribution of machinery or materials designed specifically for the industry; as according to Clean Edge;
- one security per issuer is permitted;
- a minimum worldwide market capitalization of $100 million;
- a minimum free float of 25%;
- a minimum three-month average daily dollar trading volume (ADDTV) of $500 thousand;
- have “seasoned” for at least three months on an index-eligible global exchange;
- the issuer of the security may not have entered into a definitive agreement or other arrangement which would likely result in the security no longer being Index eligible;
- may not be issued by an issuer currently in bankruptcy proceedings; and
- the issuer of the security may not have annual financial statements with an audit opinion that is currently withdrawn.
Financial Products Based on the ISE Clean Edge Global Wind Energy Index
The First Trust Global Wind Energy ETF (FAN) is based on the ISE Clean Edge Global Wind Energy Index (GWE) and is sponsored by First Trust Advisors L.P.
The information contained above is provided for informational and educational purposes only. Clean Edge is not an investment adviser, and none of the information, including any Nasdaq Clean Edge index, should be construed as investment advice or relied on as the basis for making any kind of investment decision. Neither Clean Edge nor any of its affiliates makes any recommendation whatsoever to buy or sell any securities, fund, or financial product or any representation about the financial condition of any company, fund, or financial product. Information regarding any Clean Edge index is not a guarantee of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results and should never be relied upon for making any kind of investment decisions. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.