CLEAN EDGE STOCK INDEX UPDATE Q4 2010

Quarterly update on CELS, QWND, and QGRD through December 31, 2010
This newsletter is dedicated to tracking the performance of the NASDAQ Clean Edge Green Energy Index; NASDAQ OMX Clean Edge Global Wind Energy Index; and NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. Clean Edge began producing stock indexes in early 2006 and our goal is to provide leading benchmark indexes tracking the clean-energy and clean-tech sectors. All figures listed in this newsletter are for the period ending December 31, 2010. Index data is provided by FactSet Research Systems and NASDAQ OMX.

NASDAQ Clean Edge Green Energy Index (CELS)

CELS is designed to track the performance of U.S.-listed companies that are primarily manufacturers, developers, distributors, or installers of clean-energy technologies. The Index grew 7.55 percent during Q4 2010 and was up 2.14 percent for 2010. An exchange traded fund (ETF) is based on the NASDAQ Clean Edge Green Energy Index and is sponsored by First Trust Advisors L.P. To learn more about CELS methodology, up-to-date performance, licensing information, and licensed products please visit www.cleanedge.com/ceindex. Below is information on recent performance along with the top 10 holdings, best performers, and worst performers for the quarter.

CELS top tens

quarterly holdings
Linear Technology: 8.17% First Solar: 8.16% Cree: 7.78% ON Semiconductor: 5.95% National Semiconductor: 3.97% Baldor Electric: 3.83% AVX Corporation: 3.71% MEMC Electronic Materials: 3.62% Tesla Motors: 3.46% Itron: 3.17%

best performers
Fairchild Semiconductor: 66.06% Baldor Electric: 56.04% International Rectifier: 40.78% ON Semiconductor: 37.03% Microsemi: 33.74% Tesla Motors: 30.51% Universal Display: 30.43% Maxwell Technologies: 29.30% Power Integrations: 26.33% Aixtron: 24.92%

worst performers Index Performance Comparison Percent Changes Last 4 Quarters 1-YR Q4 2010 Q3 2010 Q2 2010 CELS ECO S&P 500 NASDAQ RUSSELL 2000
2.14% -5.25% 12.78% 16.91% 25.31% 7.55% 5.69% 10.20% 12.00% 15.90% 14.60% 19.14% 10.72% 12.30% 10.94% -14.68% -16.51% -11.86% -12.04% -10.19%
Solarfun Power Holdings: -37.87% Renesola: -30.08% Yingli Green Energy: -28.61% JA Solar Holdings: -25.83% Canadian Solar: -23.99% EnerNOC: -23.78% Trina Solar: -22.40% Suntech Power: -16.91% PowerSecure International: -15.98% Comverge: -12.09%

Q1 2010
-2.88% -9.87% 4.87% 5.68% 8.51%

All figures listed in this newsletter are for the period ending December 31, 2010

Clean Edge, Inc.

NASDAQ Clean Edge Stock Index Update Q4 2010

www.cleanedge.com

NASDAQ OMX Clean Edge Global Wind Energy Index (QWND)

QWND is a modified market-capitalization index and includes companies that are primarily manufacturers, developers, distributors, installers, and users of energy derived from wind sources. The index lost 2.44 percent during Q4 2010 and was down 35.40 percent for 2010. An exchange traded fund (ETF) is based on the NASDAQ OMX Clean Edge Global Wind Energy Index and is sponsored by PowerShares. To learn more about QWND methodology, up-to-date performance, licensing information, and licensed products please visit www.cleanedge.com/ceindex/. Below is information on recent performance along with the top 10 holdings, best performers, and worst performers for the quarter.

QWND top tens

quarterly holdings
Vestas Wind Systems: 10.73% Iberdrola Renovables: 10.31% EDP Renovaveis: 9.95% China Longyuan Power Group: 9.37% Zoltek Companies: 4.52% Gamesa Corp Tecnologica: 4.40% Infigen Energy: 4.31% Nordex: 4.29% EDF Energies Nouvelles: 4.19% Innergex Renewable Energy: 3.98%

best performers
Hansen Transmissions: 22.11% Zoltek Companies: 19.03% Siemens: 17.65% General Electric: 12.55% Edison International: 12.24% International Power: 12.06% EDF Energies Nouvelles: 10.68% Mitsui & Co: 9.47% Gamesa Corp Tecnologica: 9.31% Innergex Renewable Energy: 8.48%

worst performers
Japan Wind Development: -38.67% China High Speed Transm: -28.60% Infigen Energy: -22.94% Nordex: -19.86% Vestas Wind Systems: -15.99% Acciona: -15.94% China WindPower Group: -11.48% American Superconductor: -8.07% Theolia: -8.02% China Longyuan Power: -7.79%

Index Performance Comparison Percent Changes Last 4 Quarters 1-YR Q4 2010 Q3 2010 Q2 2010 QWND GWE S&P 500 NASDAQ RUSSELL 2000
-35.40 -31.68 12.78% 16.91% 25.31% -2.44% -0.36% 10.20% 12.00% 15.90% 2.47% 3.67% 10.72% 12.30% 10.94% -24.99% -25.42% -11.86% -12.04% -10.19%

Q1 2010
-13.85% -11.33% 4.87% 5.68% 8.51%

All figures listed in this newsletter are for the period ending December 31, 2010

Clean Edge, Inc.

NASDAQ Clean Edge Stock Index Update Q4 2010

www.cleanedge.com

NASDAQ OMX Clean Edge Smart Grid Infrastructure Index (QGRD)

QGRD is a modified market-capitalization index and includes companies that are primarily engaged and involved in electric grid; electric meters, devices, and networks; energy storage and management; and enabling software used by the smart grid and electric infrastructure sector. The index rose 4.85 percent during Q4 2010 but was down 0.42 percent for 2010. An exchange traded fund (ETF) is based on the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index and is sponsored by First Trust Advisors L.P. To learn more about QGRD methodology, up-to-date performance, licensing information, and licensed products please visit www.cleanedge.com/ceindex/. Below is information on recent performance along with the top 10 holdings, best performers, and worst performers for the quarter.

QGRD top tens

quarterly holdings
Quanta Services: 8.06%
Red Electrica: 7.99% NGK Insulators: 7.96% Schneidr Electric: 7.76% SMA Solar Technology: 7.33% ITC Holdings: 4.08% General Cable: 4.06% Prysmian: 4.06% Itron: 4.04% Power-One: 3.66%

best performers
Mastec: 41.38% WESCO Intl: 34.39% RuggedCom: 31.42% General Cable: 29.39% MYR Group: 28.13% Valmont Industries: 22.56% SatCon Technology: 19.68% Echelon: 19.18% Cooper Industries: 19.13% Hubbell: 18.48%

worst performers
EnerNOC: -23.78% PowerSecure International: -15.98% SMA Solar Technology: -15.72% Wasion Group: -13.73% Comverge: -12.09% Itron: -9.44% American Superconductor: -8.07% AZZ Incorporated: -6.61% Prysmian: -6.50% NGK Insulators: -1.60%

Index Performance Comparison Percent Changes Last 4 Quarters 1-YR Q4 2010 Q3 2010 Q2 2010 QGRD S&P 500 NASDAQ RUSSELL 2000
-0.42% 12.78% 16.91% 25.31% 4.85% 10.20% 12.00% 15.90% 10.42% 10.72% 12.30% 10.94% -10.73% -11.86% -12.04% -10.19%

Q1 2010
-3.65% 4.87% 5.68% 8.51%

All figures listed in this newsletter are for the period ending December 31, 2010

Clean Edge, Inc.

NASDAQ Clean Edge Stock Index Update Q4 2010

www.cleanedge.com