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From May 2019 to May 2024
New York-based asset manager Van Eck Global marked Earth Day today by
launching Market Vectors – Solar Energy ETF
(KWT) on the American Stock Exchange®.
This new exchange-traded fund (ETF) is among the first solar ETFs listed
in the U.S., and is unique in the degree of pure-play exposure it
provides to the global solar industry. KWT seeks to replicate as closely
as possible, before fees and expenses, the price and yield performance
of the Ardour Solar Energy IndexSM (SOLRX), the
pure-play leader in tracking the solar industry. KWT’s
total net expense ratio is 0.65%.
SOLRX includes only those
companies that generate at least 66% of their revenues from solar
energy. On an index-weighted basis, the companies in SOLRX derive well
over 90% of their revenues from solar energy. Currently, the four top
holdings are First Solar, Q-Cells, Renewable Energy and Solarworld, with
weightings of 10% each. “The Ardour Solar
Energy IndexSM was designed to serve as a true
pure-play measure of the performance of the global solar energy industry,”
said Ardour Index Committee Advisor Walter Nasdeo. “We
look forward to working with Van Eck in introducing the index to
investors through Market Vectors – Solar
Energy ETF.”
Solar constitutes the fastest-growing source of both renewable and
overall energy.* Worldwide, the solar industry’s
revenues are expected to grow 30-35% annually over the next three years,
and its earnings are projected to hit $5.6 billion in 2010, versus an
estimated $3.3 billion in 2008.**
“Solar power has become an increasingly
popular source of energy around the world, with demand exploding against
a backdrop of steadily declining costs and prices that reflect economies
of scale and technological and manufacturing advancements. With more
countries seeking to mitigate rising energy prices and the threat of
global warming by implementing solar-friendly policies, the global solar
industry appears poised to enter a period of remarkable growth,”
said Jan van Eck, Principal at Van Eck Global. “In
fact, some estimates indicate that 30% of the world’s
energy supply could come from solar by 2040, up from less than 1% today.
As the pure-play leader in solar, we believe that KWT will appeal to
those investors who are looking for a convenient means to access this
dynamic industry.”
SOLRX is published by Ardour Global Indexes, LLCSM
and is a member of the Ardour FamilySM of
Alternative Energy Indexes, which serve as leading alternative energy
industry benchmarks. Through March 31, 2008, SOLRX returned 32.9% and
44.7% over the one- and three-year periods, respectively.†
Founded in 1955, Van Eck Global was among the first U.S. money managers
helping investors achieve greater diversification through global
investing. The company managed over $10.8 billion in assets for
individuals, insurers and institutional investors as of March 31, 2008.
KWT is the thirteenth ETF introduced under Van Eck’s
Market Vectors brand, which includes sector, international and municipal
bond ETFs. Market Vectors ETFs had a total of over $5.1 billion in
assets under management as of March 31, 2008.
*Solar Energy Industries Association
**Ardour Capital Investments, LLC
†Past performance
does not guarantee future results. The Index’s
return does not represent the performance of any fund. The Index charges
no fees, including management fees or brokerage expenses, and no such
fees or expenses were deducted from the performance shown. Investors
cannot invest directly in the Index. Performance information presented
for the Index covering the period prior to April 21, 2008 is based on
hypothetical, back-tested data. Prior to April 21, 2008, the Index was
not calculated in real time by an independent calculation agent.
Hypothetical, back-tested performance has inherent limitations and is
not indicative of future results. No representation is being made that
any investment will achieve performance similar to that shown.
About the Ardour Solar Energy IndexSM
(SOLRX)
The Ardour Solar Energy IndexSM is a
rules-based, modified global-capitalization-weighted, float-adjusted
index intended to give investors an efficient means of tracking the
overall performance of a global universe of listed companies engaged in
the solar industry. The Index is weighted based on the market
capitalization of each of the component stocks, modified to conform to
various asset diversification requirements, which are applied in
conjunction with the scheduled quarterly adjustments to the Index. Index
values are calculated on both a price-only and total-return basis.
About Ardour Global Indexes, LLCSM
Ardour Global Indexes, LLCSM was founded
in 2005 for the express purpose of developing bench-marking tools for
the global alternative energy industry. It is a partnership between
Ardour Capital Investments, LLCSM, a premier
investment bank specializing in alternative energy finance, and
S-Network Energy Technologies, LLCSM, a
developer of indexes and investment products focused on both traditional
and alternative energy.
Ardour Global Indexes, LLC SM and Ardour Solar
Energy IndexSM are service marks of Ardour
Global Indexes, LLCSM and have been licensed
for use by Van Eck Associates Corporation in connection with Market
Vectors – Solar Energy ETF (KWT). KWT is not
sponsored, endorsed, sold or promoted by Ardour Global Indexes, LLCSM
and Ardour Global Indexes, LLCSM makes no
representation regarding the advisability of investing in the KWT. The
Ardour Solar Energy IndexSM is calculated by
Dow Jones Indexes. Van Eck’s Market Vectors –
Solar Energy ETF (KWT), based on the Ardour Solar Energy IndexSM,
is not sponsored, endorsed, sold or promoted by Dow Jones Indexes, and
Dow Jones Indexes makes no representation regarding the advisability of
investing in KWT.
About the American Stock Exchange®
The American Stock Exchange®
(Amex®) offers
trading across a full range of equities, options and exchange traded
funds (ETFs), including structured products and HOLDRSSM.
In addition to its role as a national equities market, the Amex is the
pioneer of the ETF, responsible for bringing the first domestic product
to market in 1993. Leading the industry in ETF listings, the Amex listed
388 ETFs as of April 21, 2008. The Amex is also one of the largest
options exchanges in the U.S., trading options on broad-based and sector
indexes as well as domestic and foreign stocks.
About Van Eck Global
Founded in 1955, Van Eck Associates Corporation was among the first U.S.
money managers helping investors achieve greater diversification through
global investing. Today, the firm continues that 50+ year tradition by
offering global investment choices in hard assets, emerging markets,
precious metals including gold, and other specialized asset classes.
Van Eck also offers a number of mutual funds. Van Eck’s
mutual funds are sold nationwide through retail brokers, financial
planners and investment advisors. Designed for investors seeking
innovative choices for portfolio diversification, they are often
categorized in asset classes having returns with low correlations to
those of more traditional U.S. equity and fixed income investments.
Van Eck also offers exchange-traded funds, separate accounts and
alternative investments. In addition, it offers the Worldwide Insurance
Trust Funds, a series of investment choices within the variable annuity
contracts and variable life policies of widely known and highly regarded
insurers.
KWT is subject to risks associated with the stock market, index
tracking, sector investing, investing in small- or mid-cap companies,
foreign investments, replication management, non-diversified
investments, absence of prior active market, trading issues, fluctuation
of net asset value and risks of investing in solar energy investments.
Because of their narrow focus, sector investments tend to be more
volatile than investments that diversify across many sectors and
companies.
Fund shares are not individually redeemable and will be issued and
redeemed at their NAV only through certain authorized broker-dealers in
large, specified blocks of shares called “creation
units” and otherwise can be bought and sold
only through exchange trading. Creation units are issued and redeemed
principally in kind.
Investors may call 1.888.MKT.VCTR or visit www.vaneck.com/kwt
for a free prospectus. They should consider the investment
objective, risks, and charges and expenses of Market Vectors-Solar
Energy ETF carefully before investing. The prospectus contains this and
other information about KWT. Please read the prospectus carefully before
investing.
Please call 1.888.MKT.VCTR or visit www.vaneck.com/kwt
for the most recent month-end performance of Market Vectors-Solar Energy
ETF. This information will be available no later than seven business
days after the most recent month end.