TAN
Invesco Solar ETFTAN Fund Description
TAN tracks an index of solar energy companies selected based on the relative importance of solar power to the company's business model.
TAN Factset Analytics Insight
TAN offers a unique and popular take on renewable energy, holding a concentrated portfolio of companies involved in the solar energy industry, thus cutting out much of the broader renewable energy market covered by our benchmark. It adjusts each company's weight in an attempt to boost exposure to "pure-play" companies and underweight "non-pure-play" companies, based on revenues from solar-related activity. The resulting portfolio is very concentrated, holding just a handful of names. TAN overweights the US and especially China, and favors smaller firms. TAN offers adequate liquidity, though spreads are generally significant. The underlying basket is lacking in liquidity, however, and creations and redemption could cause prices to move. TAN charges a pretty steep fee, though strong short interest in solar stocks has often allowed the ETF to earn enough from lending out its securities to pay back its fee several times over. Lending income has been highly variable though, so investors holding onto TAN will have a wild ride ahead of them.
TAN MSCI ESG Analytics Insight
Invesco Solar ETF has an MSCI ESG Fund Rating of BBB based on a score of 4.79 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. Invesco Solar ETF ranks in the 37th percentile within its peer group and in the 44th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
TAN MSCI FaCS and Factor Box
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.
TAN Charts And Performance
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TAN Portfolio Data
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TAN Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of TAN. TAN is rated a 2 out of 5.
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TAN Sector/Industry Breakdown
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