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ETFs

Fidelity Clean Energy ETF

FRNW
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Oct 05 2021
Expense Ratio
0.39%
Type
Global Equities
Fund Owner
Fidelity
Volume (1m avg. daily)
$104,357
AUM
$29,552,220
Associated Index
Fidelity Clean Energy Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

VWS
Vestas Wind Systems AS
4.48%
ENPH
Enphase Energy Inc
4.04%
FSLR
First Solar Inc
3.85%
ORSTED
Orsted A/S
3.51%
SEDG
Solaredge Technologies Inc
2.86%
EDPR-LIS
EDP Renovaveis S.A.
2.68%
NPI
Northland Power Inc.
2.58%
ORA
Ormat Technologies Inc
2.54%
SHLS
Shoals Technologies Group Inc - Ordinary Shares - Class A
2.52%
BEPC
Brookfield Renewable Corporation - Ordinary Shares - Class A (Sub Voting)
2.46%
Invest with FRNW

What is FRNW?

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Clean Energy Index. Normally investing at least 80% of assets in securities included in the Fidelity Clean Energy Index and in depositary receipts representing securities included in the index. The Fidelity Clean Energy Index is designed to reflect the performance of a global universe of companies across the market capitalization spectrum that distribute, produce or provide technology or equipment to support the production of energy from solar, wind, hydrogen and other renewable sources.

ETFs related toFRNW

ETFs correlated to FRNW include ICLN, TAN, CNRG

FRNW
Fidelity Covington Trust - Fidelity Clean Energy ETF
ICLN
BlackRock Institutional Trust Company N.A. - iShares Global Clean Energy ETF
TAN
Invesco Capital Management LLC - Invesco Solar ETF
CNRG
SPDR Series Trust - SPDR S&P Kensho Clean Power ETF
ERTH
Invesco Capital Management LLC - Invesco MSCI Sustainable Future ETF
ACES
ALPS Fund Services - ALPS Clean Energy ETF
QCLN
First Trust Exchange-Traded Fund III - First Trust Nasdaq Clean Edge Green Energy Index Fund
GRID
First Trust Exchange-Traded Fund III - First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund
PBW
Invesco Capital Management LLC - Invesco WilderHill Clean Energy ETF
SCHC
Schwab Strategic Trust - Schwab International Small-Cap Equity ETF
VSS
Vanguard Group, Inc. - Vanguard FTSE All-World Ex-US Small Capital Index Fund ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toFRNW

#RB

Rotating Bonds

Category

Getting Defensive, Diversification

Risk Rating

Moderate

Create your own algorithmic trading strategy with FRNW using Composer

FAQ

FRNW is a Global Equities ETF. The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Clean Energy Index. Normally investing at least 80% of assets in securities included in the Fidelity Clean Energy Index and in depositary receipts representing securities included in the index. The Fidelity Clean Energy Index is designed to reflect the performance of a global universe of companies across the market capitalization spectrum that distribute, produce or provide technology or equipment to support the production of energy from solar, wind, hydrogen and other renewable sources.

FRNW tracks the Fidelity Clean Energy Index.

No, FRNW is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FRNW is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FRNW is -0.068%. This is the percent change in the value of FRNW over the most recent 1-month period. The 3-month return on FRNW is -0.1933%. This is the percent change in the value of FRNW over the most recent 3-month period.

The standard deviation of FRNW for the past year is 0.2602%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FRNW include IGF, EFAV, and ARKK.

ETFs correlated to FRNW include ICLN, TAN, and CNRG.

ETFs that are inversely correlated to FRNW include EPV, EFZ, and HIBS.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.