Trend: New ETFs are being launched to capitalize on hot sectors; a new ETF (ticker GRID) is focused on the smart grid, which will receive significant funding from the stimulus.
Investing in companies that are building the smart grid is not easy -- the sector has many companies, large and small. The GRID ETF makes investing in smart grid companies much easier for the small investor.
On November 16, 2009, First Trust Advisors L.P. launched the First Trust NASDAQ® Clean Edge ® Smart Grid Infrastructure Index Fund. This exchange-traded fund (ETF) trades on The NASDAQ® Stock Market under the ticker symbol (GRID). This ETF seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of an equity index called the NASDAQ OMX® Clean Edge® Smart Grid Infrastructure Index SM. The Index is designed to act as a transparent and liquid benchmark for the grid and energy infrastructure sector.