Top Renewable Energy Mutual Funds Of 2024

by | Mar 7, 2024 | Renewable Energy

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The way we meet our current demands has a significant impact on the future. The negative consequences of climate change get more severe with each passing year. As a result, the globe is increasingly moving towards green energy. The option between renewable and non-renewable energy sources is more essential than ever. Discover the top renewable energy mutual funds of 2024 in this article.

Top Renewable Energy Mutual Funds of 2024

Top Renewable Energy Mutual Funds of 2024

1. Invesco Solar ETF (TAN)

The Invesco Solar ETF has a total cost ratio of 0.69% and is mainly allocated to solar energy holdings. Because this product focuses on a single type of alternative energy, it may be less diverse than other funds that invest in various energy sources. When writing, TAN’s top three holdings were First Solar Inc., SolarEdge Technologies Inc. and Enphase Energy.

2. iShares Global Clean Energy ETF (ICLN)

This ETF has approximately $5 billion in assets, making it a sizeable Fund. ICLN has an expenditure ratio of 0.40% and a good “AA” MSCI ESG score, which evaluates the Fund’s environmental, social, and corporate governance performance. ICLN’s top three holdings are First Solar Inc., Enphase Energy Inc., and Iberdrola SA.

3. Invesco Wilder Hill Clean Energy ETF (PBW)

The Invesco WilderHill Clean Energy ETF tracks the WilderHill Clean Energy Index and consists of stocks related to clean energy and conservation. PBW has a cost ratio of 0.62 per cent. Its top three holdings are NaaS Technology Inc. ADR, EVgo Inc., and ReNew Energy Global PLC.

4. VanEck Low Carbon Energy ETF (SMOG)

The Fund aims to mimic the MVIS Global Low Carbon Energy Index’s price and yield performance as closely as possible before fees and costs. The Fund typically spends at least 80% of its total benefits in stocks of low-carbon energy companies primarily involved in renewable energy.

5. SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)

The investment aspires to produce investment returns that, before fees and expenses, are broadly comparable to the total return presentation of the MSCI ACWI Climate Paris Aligned Index. The Fund typically invests practically all, but at least 80%, of its total assets in the securities that comprise the index. The index is intended to exceed the minimum requirements for a “Paris-Aligned Benchmark” under the EU BMR. A Paris-Aligned Benchmark aligns with the Paris Agreement‘s agenda of limiting global average temperature advances to less than 2 degrees Celsius greater than pre-industrial levels.

In conclusion, as the globe transitions to a low-carbon economy, investments in renewable energy mutual funds are projected to become increasingly crucial in combating climate change, spurring technological innovation, and fostering long-term economic prosperity. Investing in renewable energy mutual funds helps the transition to a cleaner, more sustainable future while potentially earning long-term rewards.

Also Read: Best ESG Mutual Funds To Invest In 2024

 

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