PBW: The Small-Cap ETF Of The Clean Energy Industry

I rate PBW a hold due to its high volatility, small cap focus, and lackluster long-term returns despite strong clean energy tailwinds. The ETF offers exposure to innovative clean energy trends—especially batteries and grid optimization—but its small cap tilt increases risk and requires careful entry timing. PBW's expense ratio is high, most holdings are unprofitable, and its dividend is value-destructive; I recommend waiting for a lower P/B ratio before buying.