2023 July update
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Here is the market capitalisation of the index as of 21st July 2023:
| Market cap (mil.) | Market ratio | |
|---|---|---|
| LON:UKW | £3,373.39 | 28.3% |
| LON:TRIG | £2,960.43 | 24.8% |
| LON:CWR | £829.07 | 7.0% |
| LON:GRID | £773.00 | 6.5% |
| LON:BSIF | £749.90 | 6.3% |
| LON:ITM | £604.39 | 5.1% |
| LON:FSFL | £603.86 | 5.1% |
| LON:NESF | £569.19 | 4.8% |
| LON:ORIT | £524.25 | 4.4% |
| LON:GSF | £480.44 | 4.0% |
| LON:HEIT | £217.13 | 1.8% |
| LON:ROOF | £126.60 | 1.1% |
| LON:HGEN | £68.29 | 0.6% |
| LON:ATOM | £37.38 | 0.3% |
| Total | £11,917.32 | 100.0% |
The current (very rough) composition of the index by investment type is: 38% wind, 27% solar, 23% battery, 12% hydrogen. I’ve calculated this by (very hastily) having a look at what the companies say they invest in. If a company says they invest in wind, solar and hydrogen for example, then they get an even share of 33% for each and I then weigh that with the company’s market cap.
And for comparison, here was the index I started with on the 19th April 2023:
| Market cap (mil.) | Ratio | |
|---|---|---|
| LON:UKW | £3,639.57 | 30.48% |
| LON:TRIG | £3,143.97 | 26.33% |
| LON:GRID | £893.13 | 7.48% |
| LON:BSIF | £824.24 | 6.90% |
| LON:FSFL | £681.69 | 5.71% |
| LON:CWR | £660.34 | 5.53% |
| LON:NESF | £625.10 | 5.23% |
| LON:GSF | £499.16 | 4.18% |
| LON:ITM | £481.59 | 4.03% |
| LON:HEIT | £258.43 | 2.16% |
| LON:ROOF | £127.67 | 1.07% |
| LON:HGEN | £70.67 | 0.59% |
| LON:ATOM | £36.10 | 0.30% |
| Total | £11,941.65 | 100.00% |
Additions & Removals
During the past quarter, I found out about Octopus Renewables and decided to add it to the index. Their investments seem to be diversified across wind, solar and hydrogen.
Performance
While the total between the two quarters is very similar, it doesn’t account for the addition of Octopus/ORIT. If we were to remove ORIT’s market cap of £524m, then the index fell by 5% during the past quarter.
The hypothetical portfolio of £10,000 that I started with in April would now be worth £9,465.82. It has been re-balanced roughly monthly using a spreadsheet.
The big movers were:
- CWR which gained about 25% (this makes it the third biggest company in the index with a 6.96% weight),
- ITM which gained 25%
- HEIT which lost 16%.
I have tried to search the news to find out what might have caused these price fluctuations, but haven’t found anything substantial. Maybe the beauty of investing in an index is I don’t have to care, as the market will just do its thing.