The list of ETFs adding assets on the back of SolarCity and Tesla’s good fortunes does not end there. Those two stocks are the top two holdings in the PowerShares WilderHill Clean Energy Portfolio (NYSEArca: PBW), combing for almost 11% of that ETF’s weight. PBW has added $6.1 million in assets over the past month, according to PowerShares flows data.
The PowerShares Global Clean Energy Portfolio (NYSEArca: PBD), which also features Tesla and SolarCity as its top two holdings though at lower weights than PBW, has added almost $3.8 million of its $74.9 million in assets in just the past month.
So how does influx of cash to this quartet of Musk ETFs translate in terms of returns? Very well, indeed. Over the past month, QCLN is up nearly 22% while GEX is up almost 18%.
Market Vectors Global Alternative Energy ETF
ETF Trends editorial team contributed to this article.