Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
Nomura Energy Transition ETF
$45.40+0.47 (+1.04%)
- 0.79%
- $13M
- +39.8%
- 1.09%
- 0M sh
- $44.80
- low $31.83high $47.15
The ETF.net PWER Grade
F
Score 19 out of 100
- 13 of 14
Score 19 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F1 out of 100Rank 14 of 14Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D33 out of 100Rank 13 of 14Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F8 out of 100Rank 14 of 14Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B67 out of 100Rank 6 of 14Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D33 out of 100Rank 12 of 14
Our read on PWER
FMacquarie's active take on the energy transition. Rather than tracking a solar-and-wind index, managers pick global transition enablers and cleaner producers using environmental plus fundamental analysis. Launched in 2023.
The Fund seeks long-term capital growth through an actively managed portfolio of companies supporting the transition to cleaner, lower-carbon energy. It emphasizes transition enablers and responsible producers selected through environmental and fundamental analysis.
Why people hold it
- Actively managed: a manager builds the book around companies supporting the shift to lower-carbon energy, instead of inheriting whatever an index reconstitution hands over.
- The mandate reaches past pure-play renewables to transition enablers and responsible producers, a wider net than a straight solar-and-wind screen.
- Global remit, so the shortlist isn't boxed into US-listed names in a theme where much of the buildout happens overseas.
- Distributions run on a quarterly schedule.
Worth knowing
- The active work carries an active price: 0.80% a year, against 0.39% at index rivals like ICLN and FRNW.
- A small asset base and light trading mean wider spreads. Limit orders matter more here than in the category's household names.
- It launched in December 2023, so there's a short live record behind the stock picking, and results can drift from the broader clean-energy trade.
PWER Holdings
- Stocks
- 37
- 34%
- EOG
Sectors
- Energy34.2%
- Utilities24.2%
- Materials23.2%
- Industrials16.3%
- Financials2.1%
Geography
- United States65.64%
- Canada14.07%
- United Kingdom7.49%
- France4.26%
- Italy2.91%
- China2.86%
- South Africa2.77%
Developed 84% · Emerging 16%
PWER Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
PWER$13,982
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PWER |
|---|---|
| Year to date | +29.1% |
| 1 month | −2.3% |
| 3 months | +11.9% |
| 1 year | +39.8% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PWER |
|---|---|---|
| 2026 YTD | +29.1% | |
| 2025 | +35.3% | |
| 2024 | −3.5% | |
| 2023 | +9.7% |
PWER in the news
PWER Dividends
- 1.09%
- $0.49
- $0.23 per share
- Quarterly
Distribution history
PWER Risk
- 20.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.86
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −29.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.88
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PWER Cost
0.79%
PWER0.79%
- The middle half of Natural Resources funds
- Median 0.46%
Every other Natural Resources fund charges less.
Other funds in Natural Resources
- CNRESXtrackers RREEF Global Natural Resources ETFExpense ratio 0.45%1 year return +31.7%
- DCSNRCohen & Steers Natural Resources Active ETFExpense ratio 0.50%1 year return +33.6%
- DFTWOStrive Natural Resources and Security ETFExpense ratio 0.49%1 year return +16.6%
- DMGNRAmerican Beacon GLG Natural Resources ETFExpense ratio 0.75%1 year return +25.9%
- DFTRIFirst Trust Indxx Global Natural Resources Income ETFExpense ratio 0.70%1 year return +15.6%