Soaring Solar ETF Will Get a New Index

The suddenly hot Market Vectors Solar Energy ETF KWT will be getting a new index. On or about March 18, KWT will begin tracking the Market Vectors Global Solar Energy Index (MVKWTTR). The $13.3 million ETF currently tracks the Ardour Solar Energy Index. KWT is the latest ETF Van Eck, parent company of Market Vectors, has announced an index change for. On Tuesday, the firm said the popular Market Vectors Agribusiness ETF MOO will also change indexes on or about March 18. The firm previously announced index changes for the Market Vectors Coal ETF KOL and the Market Vectors Gaming ETF BJK. KWT's news index uses the Market Vectors index methodology that focuses on investability, diversification and pure-play exposure to the relative asset class, according to a statement issued by the firm. That is the same methodology used by popular Market Vectors ETFs such as the Market Vectors Russia ETF RSX, the Market Vectors Seminconductor ETF SMH and the Market Vectors Junior Gold Miners ETF GDXJ. KWT's top-10 holdings currently include First Solar FSLR, Trina Solar TSL and SunPower SPWR. In the past month alone, KWT has surged 26.4 percent as solar stocks have rocketed higher on news that China is stepping in to help its flailing solar firms and news of an asset sale by SunPower to a unit of Warren Buffett's Berkshire Hathaway BRK. For more on ETFs, click here.