The PowerShares WilderHill Progressive Energy Portfolio Fund (Ticker: PUW) seeks investment results that correspond generally to the performance, before fees and expenses, of the WilderHill Progressive Energy Index. The index contains the companies that can serve as an energy bridge improving near-term use of fossil fuel resources by progressively reducing carbon and other pollution. The index focuses on clean, zero carbon technologies and reflects transitional technologies that can become increasingly important as a response to global warming and climate change. The index captures the opportunities that are found in decarbonizing our energy portrait in a response to greenhouse emissions, in improving use of coal, oil, and natural gas, and for making better use of all major energy sources dominant today.
The index uses modified equal dollar weighting. No single stock may exceed 5% of the total index weight at the start of quarterly rebalancings. The index sectors are weighted according to importance and technological relevance, not views about individual stocks. Components are evenly divided within a sector to assign weights. Components less than $400 million in total market capitalization are set to one-half of a percent (0.5%). The remaining components in each sector are equally weighted by using the sector weightings minus the sum of the weights of less than $400 million in market capitalization.