E5G.DE and KHD.TO were removed from their respective indices following their acquisitions and the SOLAR and RELEC indices were rebalanced. The RELEC index currently has 19 companies, just sufficient to meet limit requirements (i.e individual companies representing over 5% of the index will in the aggregate will not exceed 45% of the index) on modified market cap indices.
The RELEC index is comprised of wholesale producers of electricity, and their equipment suppliers, using renewable energy sources, currently bio-waste, biomass, geothermal, hydro, ocean, and wind. We do not include diversified utilities that have some renewable generation portfolio and as a result the universe of eligible companies is smaller that those used to comprise the FAN and PWND ETFs. We made this choice to have a clearer focus on the business of renewable energy. We’ll keep looking to see if we can expand the companies incuded in the index.