FAN - 2022 Bear Market Bargains Series - Invesco Solar ETF

• The TAN ETF offers a simple and easy way to get broad exposure to the globally listed solar energy companies.
• Valuation looks quite attractive on a current PE of 19.43, given the sector's very strong growth outlook this decade.
• Risks revolve mostly around the sector performing poorly. Also some supply chain and China risks, including possible China ADR de-listings in 2024.
• We view TAN as a buy, suitable for a 5 year+ time frame, if you are positive on the outlook for solar energy. The recent EU news is a plus.

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