Clean Energy Funds Down for a Second Straight Week

In contrast to Nuclear Energy ETFs that have notched up an early 2024 win (up 14.77% for the week), Clean Energy ETFs experienced a downturn for the second consecutive week. Alternative Energy, Solar Energy and Hydrogen Economy funds fell by 1.84%, 1.88%, and 0.53% respectively. The decline is not isolated to these funds alone but extends across the clean energy value chain, where related sectors are currently grappling with inflationary pressures and fundamental challenges brought about by weaker industrial demand. As a reminder, Alternative Energy and Solar Energy had already plunged 21% and 28% last year.

The abovementioned data suggests an ongoing trend of declining performance within both Clean Energy and sustainable equity fund sectors. Last week, the L&G Clean Energy UCITS ETF (RENW) and the Invesco Wind Energy UCITS ETF (WNDE) lost 0.28% and 1.05% while the L&G Hydrogen Economy UCITS ETF (HTWO) suffered further still with a decrease of 1.55% over the same period.

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Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.