Ideas
Old energy unattractive; supply and policy headwinds.
Old energy is a sideways, unattractive area: the Trump administration wants more production and lower or stable prices, which is a headwind for energy companies, and there is ample oil and gas supply. Venezuela is not a major macro event.
AI demand drives electricity growth.
Electricity, not energy broadly, is where demand is coming from. Hyperscalers and the AI trade are forcing companies to lean into electricity, which VanEck calls AI 2.0.
Nuclear wins on reliable AI power.
Nuclear is the VanEck ETF that has benefited most from AI-driven electricity demand. Data centers and military customers need highly reliable, non-intermittent power, and nuclear provides that reliability; solar and wind are not well suited to these hyperscaler needs.
Power demand requires all energy sources.
The power transition is essential and will take a long time. Demand for electricity from data centers, manufacturing, and U.S. growth requires all energy sources, so this is an area where active, selective exposure is needed.
POWR actively invests in power transition.
TCW's POWR ETF is a broad, actively managed way to invest in the power transition. It holds some old economy companies but focuses heavily on nuclear, including large-scale nuclear, and companies that improve power efficiency, so managers can adapt as winners and losers change.
Nuclear provides reliable, non-intermittent power.
Nuclear is a key part of the power transition because it provides regular, reliable power without the intermittency gaps of newer technologies. Companies like Vistra are important for delivering that steady power to hyperscaler customers.
Vistra wins Meta power contract.
Vistra is a TCW portfolio company benefiting from hyperscaler power demand. Meta is contracting with Vistra within the next 10 years to add as much power as New York City uses now, and Vistra provides the regular power without intermittency gaps that nuclear can deliver.
AIFD offers broad AI infrastructure exposure.
Average investor portfolios are well covered on the largest tech names but need broader exposure to the companies providing AI infrastructure, software, and new sources of power. TCW's AIFD is the oldest broad AI ETF and lets active managers shift as winners and losers change.
NODE active ETF plays power transition.
In this dynamic energy transition, he prefers active ETFs that can mix old and new energy. VanEck's NODE ETF, with a crypto background, now has about half its portfolio in the electricity transition, 30% in Bitcoin miners pivoting to AI and hyperscaler deals, and 20% in power producers like Vistra.
Vistra gains from nuclear reliability.
Vistra is interesting because it has moved from mid-cap to large-cap and into the S&P portfolio, and although it had natural gas generation, it has leaned into nuclear over the last two years. Its customers want reliability, and nuclear provides that better than intermittent solar and wind.
This CNBC video, published January 12, 2026,
features Jan van Eck, Jennifer Grancio
discussing XLE, XLU, URA, Power/electricity, POWR, VST, AIFD, NODE.
10 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Jan van Eck,
Jennifer Grancio
· Tickers:
XLE,
XLU,
URA,
Power/electricity,
POWR,
VST,
AIFD,
NODE
