TAN
Invesco Solar ETF
Claymore/MAC Global Solar Energy Index ETF seeks investment results that correspond to the price and yield of the MAC Global Solar Energy Index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
984.0 M
ASSETS UNDER MGMT
67 bp
EXPENSES
Fund Basics
Fund sponsor | Guggenheim |
Category | Global |
Asset class | Equity |
Website | link... |
Inception date | Apr 15, 2008 |
Assets (mns) | $984 |
Expense ratio | 67 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Annually |
Taxation | 1099 |
Stock selection | Market Cap |
Weighting | Tiered |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
ENPHASE ENERGY INC | 10.6 % |
FIRST SOLAR INC | 10.1 % |
SUNRUN INC. | 8.1 % |
NEXTRACKER, INC. CLASS A | 6.0 % |
GCL POLY ENERGY HOLDINGS LTD | 5.0 % |
ENCAVIS AG | 4.6 % |
HANNON ARMSTRONG SUSTAINABLE | 4.1 % |
XINYI SOLAR HOLDINGS LTD | 3.8 % |
NEOEN S.A. | 3.7 % |
SUNNOVA ENERGY INTERNATIONAL INC | 3.3 % |
Constituent Breakdown
Number of holdings | 46 |
Herfindahl-Hirschman Index | 500 |
Wgt avg mkt cap (mns) | $6,634 |
Large cap (>$10bn) | 20.8% |
Mid cap ($2-10bn) | 45.4% |
Small cap (<$2bn) | 29.5% |
Developed mkts. | 76.2% |
Emerging mkts. | 23.8% |
Country Exposure
UNITED STATES | 53.1 % | |
CHINA | 10.4 % | |
GERMANY | 5.5 % | |
HONG KONG | 5.0 % | |
ISRAEL | 4.8 % | |
TAIWAN | 3.8 % | |
FRANCE | 3.7 % | |
SPAIN | 2.4 % | |
SOUTH KOREA | 2.2 % | |
CANADA | 2.0 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | -23.2% | -20.8% | -25.3% | -19.9% | 7.0% | 1.2% | -9.0% | Volatility | 39.4% | 38.7% | 38.8% | 40.6% | 44.3% | 37.5% | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 1.42 | 35% |
MSCI EAFE | 1.51 | 38% |
MSCI Emg Mkts | 1.37 | 30% |
Liquidity Measures
Avg. volume (000) | 809 |
Turnover | 3.5% |
Avg. Bid/Ask (% of price) | 0.11% |
ADV of underlying (mns) | $1,132 |
Technical Indicators
Recent close | $42.13 |
30d moving avg. | $40.52 |
Annualized volatility | 43.2% |
Relative strength (RSI) | 57 |
Short interest (ETF) | 7.7% |
Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. TAN |
Expenses vs. TAN |
ALTAR Score™ vs. TAN |
---|---|---|---|---|
RAYS | Global X Solar ETF | 47.2% | -16 bp | -2.4% |
CTEC | Global X CleanTech ETF | 34.9% | -17 bp | -5.9% |
FRNW | Fidelity Clean Energy ETF | 34.8% | -28 bp | -6.3% |
ACES | ALPS Clean Energy ETF | 30.5% | -12 bp | -11.9% |
CNRG | SPDR S&P Kensho Clean Power ETF | 29.0% | -22 bp | -5.8% |
VCLN | Virtus Duff & Phelps Clean Energy ETF | 28.8% | -8 bp | -4.9% |
QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 27.8% | -9 bp | -9.9% |
ICLN | iShares Global Clean Energy ETF | 27.8% | -26 bp | -3.7% |
PBD | Invesco Global Clean Energy ETF | 20.7% | +8 bp | -11.7% |
RNRG | Global X Renewable Energy Producers ETF | 18.4% | -1 bp | -3.5% |
Risk and Returns: TAN vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 10/4/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
TAN
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
TAN
8.5%
Cat. Avg
4.0%
ALTAR Score™ Calculation
Category Overview
There are 363 funds in the Global Equity category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.6%. TAN's ALTAR Score™ is approximately
1.0 standard deviations
above
the category average. This places TAN in the 84th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
TANSELL
U/W
HOLD
O/W
BUY
Expense Analysis
Peer Group | Rules-Based Global Equity ETFs |
# of ETFs | 191 |
Avg. Expense Ratio | 55.4 bp |
Std. Deviation | 17.5 bp |
TAN (67 bp) Percentile rank | 75 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
TAN | 67.0 | 11.0 | 78 |
Peer Avg. | 56.6 | 40.2 | 96.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .