Opinion on  PowerShares WilderHill Progressive Energy Portfolio (PUW)
Update on PowerShares Progressive Energy ETF (PUW)

The progressive energy ETF was reviewed in this blog when it started trading last fall. I thought it sounded promising, especially as a complement to its sister ETF, PowerShares WilderHill Clean Energy (PBW), which I own. To recap briefly, PUW is based on the WilderHill Progressive Energy Index. This Index is comprised U.S. listed companies that are significantly involved in “transitional energy bridge technologies”, with an emphasis on improving the use of fossil fuels. Simply put, the ETF invests in companies which are likely to profit from more efficient use of existing energy resources. The portfolio is rebalanced and reconstituted quarterly. PUW’s expense ratio is a reasonable .60. According to a chart on powershares.com’s website, the index would have outperformed the NASDAQ and the S&P 500 by a wide margin in the last five years, but with a little less volatility. The index has a beta of .92. Of course, these results are hypothetical, and do not take into account management and transaction fees....