Clean-energy ETFs surge after Biden clinches Electoral College
Exchange-traded funds linked to clean-energy stocks surged Tuesday, continuing a streak of outperformance that tracked the likelihood that Democrats would control the White House. The Invesco Solar ETF
TAN,
gained 5.6% by late morning, while the SPDR S&P Kensho Clean Power ETF
CNRG,
was up 5.4%. The iShares Global Clean Energy ETF
ICLN,
was 3.8% higher, and the ALPS Clean Energy ETF
ACES,
rose 3.6%. Investors began to buy up clean-energy stocks like Sunpower Corporation
SPWR,
which was up more than 10% Tuesday, and ETFs like the ones noted above earlier in the year, betting that Democrats would be friendlier to alterative energy producers than the Trump administration had been. The Invesco Solar ETF is up 195% in the year to date, while the other ETFs noted here have more than doubled their value.
