After attracting $514 million in net inflows in October, Solar ETFs lost some steam, witnessing over $340 million in combined net outflows since then. Invesco Solar ETF, the biggest of them all ($3.2 billion in assets) lost -$353 million alone during that period. Other ETFs in the pack offset some of these losses with minor net inflows of their own.
Solar and other clean energy technologies shares gained traction a few months ago after investors increased their bets on renewable energy amid an energy crisis that saw fossil prices surge to multi-year highs. Consequently, Invesco Solar ETF, Invesco Solar Energy UCITS ETF, Global X Solar ETF and HANetf Solar Energy ETF gained +23.95%, +20.25%, +15.1% and +14.44% respectively in October. However, interest in these stocks faded as natural gas and oil prices retreated, triggering a sell-off in Solar ETFs.
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