Market Vectors Global Alternative Energy ETF (GEX)

The Market Vectors Global Alternative Energy ETF (GEX) started trading in May 2007. It tracks the Ardour Global Index, minus expenses and fees. Its approach in tracking the index is full replication. The ETF attempts to own all of the index's components.

The Ardour Global Index measures the performance of corporations deriving at least half of their revenues from alternative energy. Components must have market caps over $100 million and an average share price of at least $1 over the last three months. Out of stocks meeting these criteria, Ardour selects the 30 with the highest market caps and trading volumes. Index components may include stocks traded on international exchanges.

The ETF is passively managed, with an expense ratio of 0.65%. Expenses are capped at 0.65% until May 2009, after which they may be higher.

The ETF has not paid dividends in the past.

As of August 2008, the Market Vectors Global Alternative Energy ETF holds all 30 stocks in its underlying index. Its holdings are listed below.