Soon, there will be two exchange-traded funds that invest in nuclear energy. On April 3, PowerShares expects to launch the Global Nuclear Energy ETF, which will be tied to an index of 66 stocks that includes reactors, utilities, construction, technology, equipment, service providers, and fuels. "Since 2001, nuclear power plants have achieved lower production costs than coal, natural gas, and oil," said Bruce Bond, PowerShares president and CEO, in a statement. "We believe higher oil prices, rising standards of living, and demand for cleaner sources of energy are favorable trends powering worldwide growth for the nuclear energy industry."
The PowerShares ETF will join the Van Eck Nuclear Energy ETF, which has been around since August. That fund tracks an index made up of 38 companies worldwide that participate in uranium mining, enrichment, and storage; nuclear plant infrastructure; fuel transportation; and energy generation, as well as equipment.
In other ETF news, troubled Bear Stearns managed to launch the first actively managed exchange-traded fund, which began trading Tuesday. The Current Yield Fund YYY resembles an enhanced money market fund, according to the story, and investments include U.S. government securities, corporate debt, mortgage-backed and asset-backed securities, munis, and a few other goodies.