Bottom line: When it comes to Tesla ETFs, for now, there is only one and it is QCLN. However, there is one alternative to consider for the investor that wants to worship at the altar of Elon Musk. The PowerShares WilderHill Clean Energy Portfolio (NYSEArca: PBW) not only features a 4.74% weight to Tesla, currently decent among ETFs, but the fund’s largest holding is SolarCity (NasdaqGS: SCTY), Musk’s other company.
SolarCity accounts for 4.75% of PBW’s weight. So QCLN is the TSLA ETF and PBW is the Elon Musk ETF and that probably explains why the latter is up 18% since the start of May.
First Trust NASDAQ Clean Edge Green Energy Index Fund
ETF Trends editorial team contributed to this story.