First Trust Launches Electric Grid ETF
November 18, 2009
SAN DIEGO (ETFguide.com) - The new First Trust NASDAQ Smart Grid Infrastructure Index Fund (Nadaq: GRID) is based on the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index.
The index is a modified market-capitalization weighted index that includes companies that are primarily involved in electric grid, electric meters and devices, networks, energy storage and management, and enabling software used by the smart grid infrastructure sector.
The index consists of 29 holdings with market caps ranging from $120 million to $174 billion. Most of the constituents fall into the industrials sectors (72.52%). Information technology (18.65%) and utilities (8.83%) make up the rest.
