The WilderHill New Energy Global Innovation Index (NEX) – an exchange traded fund (ETF) that invests in clean energy companies worldwide, has launched.
It is available in four currencies: US (NEX), Euro (NEXEU), Pound Sterling (NEXBP) and Japanese Yen (NEXJY). Dow Jones Indexes is the calculation and dissemination agent and the American Stock Exchange will continue to act as an advisor.
NEX is published by WilderHill New Energy Finance, LLC, a partnership between New Energy Finance Ltd, based in London, Josh Landess, based in the U.S., and Robert Wilder, founder of the well known Powershares Clean Energy ETF (PBW), also based in the U.S.
The NEX index consists of 80-90 constituents, representing all significant sectors of the low-carbon energy industry, including renewable energy, biofuels and emerging low-carbon technologies.
The index uses an equal-weighting methodology modified by sector and divided into two market capitalization bands. It is carefully designed to provide diversification across the different sectors of the clean energy industry and across size of company. It has extensive global representation. Components are limited to five percent (5%) of the index by weight at rebalancing.
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