While Japanese automakers have played coy about the benefits of the falling yen, there is no denying the benefits. Toyota’s U.S. shares have surged 34.3% year-to-date. Nissan recently posted monthly sales that were triple the daily average. That is good for CARZ, which features Toyota and Honda (NYSE: HM) among its top-five holdings.
CARZ may not be a Japan ETF, but 10 of its 38 holdings are Japanese firms. At 35.7%, Japan is by far the fund’s largest country weight, highlighting the usefulness of CARZ as a weak yen play.
First Trust NASDAQ Global Auto Index Fund
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of DXJ.