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Clean-energy ETFs fall as ‘blue wave’ ebbs

Clean-energy exchange-traded funds tumbled Wednesday as the likelihood of a Democratic sweep of Washington receded. The iShares Global Clean Energy ETF ICLN, -1.41% was down 3.6%, as was the SPDR S&P Kensho Clean Power ETF CNRG, -2.27%. The Invesco Solar ETF TAN, -2.22% fell harder: down 4.3%. Those funds had gained heavily on investor bets that a “blue wave” of the White House and Congress would result in much more federal support for green energy projects. Over the past three months, they’ve gained anywhere from 24%, for the S&P fund, to more than 34%, for the Invesco ETF.

 

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