Claymore/MAC Global Solar Energy ETF (TAN)

The Claymore/MAC Global Solar Energy ETF (TAN) started trading in mid April 2008. It tracks the MAC Global Solar Energy Index, minus expenses and fees. The ETF uses a replication approach in tracking the index, attempting to own all of the index's components.

The MAC Global Solar Energy Index measures the performance of corporations involved in supplying materials for or servicing solar equipment producers, derive at least one third of their revenues from solar energy finance, installation, and integration, or specialize in producing electricity from solar power. Component stocks must have market capitalizations of $250 million or over, and at least a $150 million monthly trading volume when the index is reconstituted. The index is reconstituted quarterly. The MAC Global Solar Energy Index includes both American Depository Receipts and Global Depository Receipts.

The ETF is passively managed, with an expense ratio of 0.65%. The expense ratio is capped at 0.65% until January 2011, after which it may rise.

The ETF has no history of dividend payments. Should there be distributions, they will be paid out annually.

As of August 2008, the Claymore/MAC Global Solar Energy ETF held all of the index's components. Its holdings are listed below.