PBW crashed 11% after May payrolls doubled consensus at 172,000, spiking the two-year Treasury yield to a 16-month high of 4.16%.
ENPH sank 18% while FSLR dropped 11%, with cash-flow-negative names hit hardest as rising rates crushed long-duration equity valuations.
Despite a 34% YTD gain, PBW sits 47% below its 2021 peak, with every major drawdown tied to rising long-term rates.
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A $10,000 stake in the Invesco WilderHill Clean Energy ETF (NYSEARCA:PBW) at Thursday's close was worth ~$8,920 by Friday's close, and the cause traces directly to a sharp move in two-year Treasury yields rather than to anything inside a single clean energy company. PBW fell roughly 11% on June 5, 2026, closing near $41 after starting the day around $46, and the cause sits one layer up the macro stack from anything to do with panels, inverters, or hydrogen.
ENPH sank 18% while FSLR dropped 11%, with cash-flow-negative names hit hardest as rising rates crushed long-duration equity valuations.
Despite a 34% YTD gain, PBW sits 47% below its 2021 peak, with every major drawdown tied to rising long-term rates.
It sounds nuts, but SoFi is giving new active invest users up to $1,000 in stock for a limited time, and all it takes is a $50 deposit to get started. See for yourself (Sponsor)
A $10,000 stake in the Invesco WilderHill Clean Energy ETF (NYSEARCA:PBW) at Thursday's close was worth ~$8,920 by Friday's close, and the cause traces directly to a sharp move in two-year Treasury yields rather than to anything inside a single clean energy company. PBW fell roughly 11% on June 5, 2026, closing near $41 after starting the day around $46, and the cause sits one layer up the macro stack from anything to do with panels, inverters, or hydrogen.
2 months ago
