SAN DIEGO (ETFguide.com) - The PowerShares Global Nuclear Energy Portfolio ETF (Ticker: PKN) began trading on NYSE Arca today.  

 

The fund is based on the WNA Nuclear Energy Index, which contains a basket of globally traded companies that are engaged in the nuclear energy industry with representation across reactors, utilities, construction, technology, equipment, service providers and fuels.

 

The PowerShares Nuclear ETF will compete with the Market Vectors Nuclear Energy ETF (Ticker: NLR). The latter charges 0.65 percent annually and uses a different index strategy by weighting stocks according to their market capitalization size. So far in 2008, NLR has declined by 15.0 percent.

 

The PowerShares fund’s annual expense ratio is 0.75 percent.

 

Along with the PowerShares ETF, two new exchange-traded notes (ETNs) debuted.

 

The ELEMENTS Credit Suisse Global Warming Index ETN (Ticker: GWO) follows stocks of companies that have and increased focus on products or services related to minimizing global warming.

 

ETNs are debt securities that trade like ETFs and stocks, but carry issuer credit risk.

 

For commodity minded investors, the ELEMENTS MLCX Precious Metals Index ETN (NYSE Arca: PMY) tracks key segments of the precious metals sector, including four physical commodities: gold, silver, platinum and palladium.

 

Credit Suisse is the issuer for these two ELEMENTS ETNs and they’re distributed by Nuveen Investments and Merrill Lynch.