Why GE Vernova’s Power Orders Could Make or Break This Clean Energy ETF
The Fidelity Clean Energy ETF (FRNW) has returned 87% over the last year, driven by its holdings in clean energy companies, with GE Vernova being its top holding. The ETF's performance is heavily influenced by the 10-year Treasury yield and GE Vernova's weight in the fund.
The Fidelity Clean Energy ETF (FRNW) tracks the Fidelity Clean Energy Index and has a 0.39% expense ratio. FRNW returned 87% over the last year, with 22% YTD gains. The ETF's performance is influenced by the 10-year Treasury yield, currently at 4.35%. GE Vernova is the ETF's largest holding, and its weight significantly impacts FRNW's NAV. The fund's character may shift if GE Vernova's weight is trimmed at the next reconstitution. Investors should track the 10-year Treasury yield and the next index reconstitution to gauge FRNW's future performance.
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