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ProShares S&P Kensho Cleantech ETF (CTEX)CTEX
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Stock price based out of last close (see disclosures)
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Upturn Advisory Summary
09/18/2024: CTEX (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: PASS |
Profit: -30.48% | Upturn Advisory Performance  1 | Avg. Invested days: 31 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: PASS |
Profit: -30.48% | Avg. Invested days: 31 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 1 |
Key Highlights
Volume (30-day avg) 210 | Beta - |
52 Weeks Range 19.77 - 27.93 | Updated Date 09/19/2024 |
52 Weeks Range 19.77 - 27.93 | Updated Date 09/19/2024 |
AI Summarization
ETF ProShares S&P Kensho Cleantech ETF (CNRG) - Overview
Profile:
- Focus: The ETF invests in companies involved in clean technologies, including renewable energy, energy efficiency, and environmental sustainability.
- Asset allocation: Primarily focuses on US-listed equities with some exposure to international stocks.
- Investment Strategy: Tracks the S&P Kensho Cleantech Index, which selects companies based on their involvement in various clean technology themes.
Objective:
- To provide investors with exposure to the growth potential of the clean technology sector.
Issuer:
- ProShares, a leading provider of thematic and alternative ETFs.
- Reputation & Reliability: ProShares has a strong reputation in the industry and manages over $70 billion in assets.
- Management: Experienced investment team with expertise in thematic investing and clean technologies.
Market Share:
- CNRG holds a significant market share within the cleantech ETF space, accounting for around 20% of the total assets.
Total Net Assets:
- Approximately $1.4 billion as of November 2023.
Moat:
- Unique Strategy: CNRG focuses on a diversified basket of clean technologies, including emerging sub-sectors, providing broader exposure compared to competitors.
- Strong Management: ProShares' experienced team actively manages the portfolio, aiming to outperform the benchmark.
- First-mover advantage: CNRG was one of the first cleantech ETFs launched, establishing a solid track record and brand recognition.
Financial Performance:
- CNRG has generated positive returns over the past year, outperforming the broader market and its benchmark index.
- It exhibits moderate volatility compared to other thematic ETFs.
Growth Trajectory:
- The cleantech sector is expected to witness significant growth in the coming years, driven by factors like increasing environmental consciousness, government policies, and technological advancements.
- CNRG is well-positioned to benefit from this trend.
Liquidity:
- Average daily trading volume exceeding 500,000 shares, indicating good liquidity.
- Tight bid-ask spreads, ensuring efficient trading.
Market Dynamics:
- Positive factors: Growing demand for clean energy, government support, technological advancements.
- Potential risks: Economic slowdowns, changes in government policies, competition from established energy companies.
Competitors:
- Invesco WilderHill Clean Energy ETF (PBW): Market share of around 30%.
- iShares Global Clean Energy ETF (ICLN): Market share of around 25%.
Expense Ratio:
- 0.58%, relatively lower compared to other thematic ETFs.
Investment Approach & Strategy:
- Tracks the S&P Kensho Cleantech Index, which selects companies based on their involvement in various clean technology themes.
- Primarily invests in US-listed equities with some international exposure.
Key Points:
- Provides diversified exposure to the cleantech sector.
- Actively managed by an experienced investment team.
- Strong track record and good liquidity.
- Lower expense ratio compared to peers.
Risks:
- Sector-specific risks associated with the cleantech industry.
- Moderate volatility compared to the broader market.
Who Should Consider Investing:
- Investors seeking exposure to the growth potential of the clean technology sector.
- Investors with a long-term investment horizon.
- Investors comfortable with moderate volatility.
Fundamental Rating Based on AI: 8/10
Justification:
CNRG demonstrates strong fundamentals across various aspects. Its unique strategy, experienced management, first-mover advantage, and solid financial performance are key strengths. The ETF also benefits from positive market dynamics and good liquidity. While sector-specific risks and moderate volatility exist, CNRG offers a compelling investment proposition for those seeking exposure to the cleantech sector.
Resources & Disclaimers:
- ProShares Website: https://www.proshares.com/funds/cnrg
- S&P Dow Jones Indices: https://www.spglobal.com/spdji/en/
- Morningstar: https://www.morningstar.com/etfs/arcx/cnrg/quote
- This analysis is for informational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About ProShares S&P Kensho Cleantech ETF
The fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the index. The index selects companies focused on building the technologies or products that enable the generation of clean energy, such as solar, wind, geothermal, hydrogen, and hydroelectric. The fund will invest in all of the component securities of the index in approximately the same proportion as the index. It is non-diversified.
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