<p>清洁能源和 氢能源主题 ETF 正在显示出压力迹象，尽管 <strong>Bloom Energy Corp.</strong> (NYSE: BE) 今年仍然大幅上涨，这突显了单只股票的波动性如何影响主题 ETF 的表现。</p>
<p><strong>Tradr 2X Long BE Daily ETF</strong> (BATS: BEX) 和 <strong>Leverage Shares 2X Long BE Daily ETF</strong> (NASDAQ: BEG) 是两个杠杆产品，旨在提供 <strong>Bloom Energy 股票每日表现的两倍</strong>，而不是广泛接触清洁能源领域，在周四的交易中分别下跌了约 15%。尽管这两个 ETF 在过去五天仍然录得强劲涨幅，分别上涨约 12.5% 和 10%，但这一波动仍然发生。突如其来的反转突显了当主要成分股出现波动时，狭窄聚焦的能源基金风险情绪如何迅速转变。</p>
<p>由于这些 ETF 每日再平衡，极端波动时期即使在较长时间内基础股票保持上涨，也可能导致超额损失。这种结构有助于解释为什么 BEX 和 BEG 大幅下跌，尽管在过去五天仍然上涨了两位数，并且年初至今上涨超过 130%，而 Bloom Energy 今年仍然大幅上涨。</p>
<h3><strong>Bloom Energy 的反弹推动（并扭曲）ETF 回报</strong></h3>
<p>在最近几周，Bloom Energy 一直是清洁能源和氢能源投资组合中最具影响力的公司之一。这家电力生产和氢气生产公司今年迄今上涨近 56%，得益于与 <strong>American Electric Power Company Inc</strong> (NASDAQ: AEP) 达成的 26.5 亿美元协议，涉及其固体氧化物燃料电池以及对替代能源解决方案日益增长的热情。</p>
<p>在 Jefferies 将 Bloom Energy 的目标股价从 53 美元上调至 92 美元，并将其 2026 年收入预测提高至 29 亿美元，远高于市场共识预期后，动能进一步加速。该股在周三触及新高后，在最新交易中回落了 7.5%，提醒人们其极端的价格波动。</p>
<h3><strong>波动性成为 ETF 的 ‘税’</strong></h3>
<p>根据 StockStory 的数据，Bloom Energy 的股票在过去一年中经历了 79 次超过 5% 的波动，使其成为清洁能源领域中波动性较大的股票之一。这种波动性可能会压倒主题 ETF 的多样化收益，尤其是当单一股票占据近期回报的显著份额时。</p>
<p>随着 Bloom Energy 的降温，影响在基金层面被放大，重新平衡动态和广泛的抛售压力使 BEX 和 BEG 大幅下跌。</p>
<p>机构投资者似乎更加谨慎。<strong>Joule Financial LLC</strong> 在 2025 年第三季度将其 Bloom Energy 持股减少了近 39%，尽管该股反弹，仍然削减了敞口。</p>
<p>BEX 和 BEG 的剧烈波动强化了清洁能源 ETF 虽然提供了对能源转型的多样化接触，但在一只高飞股票主导叙事时并不免受动荡的影响。</p>
<p><em>图片来源：Shutterstock</em></p>

<p>清洁能源 ETF 正面临压力，因为 Bloom Energy 的股票波动性影响了它们的表现。尽管 Bloom Energy 年初至今上涨了 56%，但像 Tradr 2X Long BE Daily ETF 和 Leverage Shares 2X Long BE Daily ETF 在最近的交易中下跌了约 15%。这突显了单只股票的动量如何扭曲 ETF 的回报，尤其是在主要股票经历极端价格波动时。机构投资者变得谨慎，一些人减少了对 Bloom Energy 的持有，表明集中投资于主题 ETF 所带来的风险</p>

<p>Clean energy and hydrogen-focused ETFs are showing signs of strain even as <strong>Bloom Energy Corp.</strong> (NYSE: BE) remains sharply higher for the year, underscoring how single-stock volatility can spill over into thematic ETF performance.</p>
<div class="lb-trans"><p>清洁能源和 氢能源主题 ETF 正在显示出压力迹象，尽管 <strong>Bloom Energy Corp.</strong> (NYSE: BE) 今年仍然大幅上涨，这突显了单只股票的波动性如何影响主题 ETF 的表现。</p>
</div><p>The <strong>Tradr 2X Long BE Daily ETF</strong> (BATS: BEX) and the <strong>Leverage Shares 2X Long BE Daily ETF</strong> (NASDAQ: BEG), both leveraged products designed to deliver <strong>twice the daily performance of Bloom Energy's stock</strong>, rather than broad exposure to the clean energy sector, fell roughly 15% in Thursday trading session. The move came despite both ETFs still posting strong gains over the past five days, up about 12.5% and 10%, respectively. The sudden reversal highlights how quickly risk sentiment can shift in narrowly focused energy funds when a major constituent turns volatile.</p>
<div class="lb-trans"><p><strong>Tradr 2X Long BE Daily ETF</strong> (BATS: BEX) 和 <strong>Leverage Shares 2X Long BE Daily ETF</strong> (NASDAQ: BEG) 是两个杠杆产品，旨在提供 <strong>Bloom Energy 股票每日表现的两倍</strong>，而不是广泛接触清洁能源领域，在周四的交易中分别下跌了约 15%。尽管这两个 ETF 在过去五天仍然录得强劲涨幅，分别上涨约 12.5% 和 10%，但这一波动仍然发生。突如其来的反转突显了当主要成分股出现波动时，狭窄聚焦的能源基金风险情绪如何迅速转变。</p>
</div><p>Because these ETFs rebalance daily, periods of extreme volatility can lead to outsized losses even when the underlying shares remain higher over longer time frames. This structure helps explain why both BEX and BEG fell sharply, despite still being up double digits over the past five days and more than 130% year-to-date, and Bloom Energy remaining sharply higher for the year.</p>
<div class="lb-trans"><p>由于这些 ETF 每日再平衡，极端波动时期即使在较长时间内基础股票保持上涨，也可能导致超额损失。这种结构有助于解释为什么 BEX 和 BEG 大幅下跌，尽管在过去五天仍然上涨了两位数，并且年初至今上涨超过 130%，而 Bloom Energy 今年仍然大幅上涨。</p>
</div><h3><strong>Bloom Energy's Rally Drives (And Distorts) ETF Returns</strong></h3>
<div class="lb-trans"><h3><strong>Bloom Energy 的反弹推动（并扭曲）ETF 回报</strong></h3>
</div><p>Bloom Energy has been one of the most influential names within clean energy and hydrogen portfolios in recent weeks. The electricity generation and hydrogen production company is up nearly 56% year-to-date, fueled by a $2.65 billion agreement with <strong>American Electric Power Company Inc</strong> (NASDAQ: AEP) for its solid-oxide fuel cells and rising enthusiasm around alternative power solutions.</p>
<div class="lb-trans"><p>在最近几周，Bloom Energy 一直是清洁能源和氢能源投资组合中最具影响力的公司之一。这家电力生产和氢气生产公司今年迄今上涨近 56%，得益于与 <strong>American Electric Power Company Inc</strong> (NASDAQ: AEP) 达成的 26.5 亿美元协议，涉及其固体氧化物燃料电池以及对替代能源解决方案日益增长的热情。</p>
</div><p>Momentum accelerated further after Jefferies raised its price target on Bloom Energy to $92 from $53 and boosted its 2026 revenue forecast to $2.9 billion, well above consensus estimates. The stock touched fresh highs on Wednesday before pulling back up to 7.5% in the latest session, a reminder of its extreme price swings.</p>
<div class="lb-trans"><p>在 Jefferies 将 Bloom Energy 的目标股价从 53 美元上调至 92 美元，并将其 2026 年收入预测提高至 29 亿美元，远高于市场共识预期后，动能进一步加速。该股在周三触及新高后，在最新交易中回落了 7.5%，提醒人们其极端的价格波动。</p>
</div><h3><strong>Volatility Becomes The ETF ‘Tax'</strong></h3>
<div class="lb-trans"><h3><strong>波动性成为 ETF 的 ‘税’</strong></h3>
</div><p>Bloom Energy's shares have logged 79 moves of more than 5% over the past year, according to StockStory, making it one of the more volatile stocks in the clean energy universe. That volatility can overwhelm the diversification benefits of thematic ETFs, especially when a single name accounts for a meaningful share of recent returns.</p>
<div class="lb-trans"><p>根据 StockStory 的数据，Bloom Energy 的股票在过去一年中经历了 79 次超过 5% 的波动，使其成为清洁能源领域中波动性较大的股票之一。这种波动性可能会压倒主题 ETF 的多样化收益，尤其是当单一股票占据近期回报的显著份额时。</p>
</div><p>As Bloom Energy cooled, the impact was magnified at the fund level, where rebalancing dynamics and broad-based selling pressure pushed BEX and BEG sharply lower.</p>
<div class="lb-trans"><p>随着 Bloom Energy 的降温，影响在基金层面被放大，重新平衡动态和广泛的抛售压力使 BEX 和 BEG 大幅下跌。</p>
</div><p>Institutional investors appear more cautious. <strong>Joule Financial LLC</strong> reduced its Bloom Energy holdings by nearly 39% during the third quarter of 2025, trimming exposure even as the stock rallied.</p>
<div class="lb-trans"><p>机构投资者似乎更加谨慎。<strong>Joule Financial LLC</strong> 在 2025 年第三季度将其 Bloom Energy 持股减少了近 39%，尽管该股反弹，仍然削减了敞口。</p>
</div><p>The sharp swings in BEX and BEG reinforce that while clean energy ETFs offer diversified access to the energy transition, they are not immune to turbulence when one high-flying stock dominates the narrative.</p>
<div class="lb-trans"><p>BEX 和 BEG 的剧烈波动强化了清洁能源 ETF 虽然提供了对能源转型的多样化接触，但在一只高飞股票主导叙事时并不免受动荡的影响。</p>
</div><p><em>Image: Shutterstock</em></p>
<div class="lb-trans"><p><em>图片来源：Shutterstock</em></p>
</div>

Bloom Energy 的剧烈波动正在对清洁能源 ETF 进行压力测试