Whenever TSLA is in the news headlines as it is this morning once again, it is hard not to think about two Alternative Energy Equity based ETFs that have exposure to the company’s stock.
QCLN (First Trust NASDAQ Clean Edge Green Energy, Expense Ratio 0.60%) has a 16.81% weighting to TSLA, as the company is the top weighted component of the ETF.
Other names that are involved broadly in “Clean Energy” technologies that are included in this index and rounding out the top five holdings are, CREE (8.26%), HXL (6.52%), ONNN (6.41%), and FSLR (6.30%).
A second ETF in the Alternative energy space is GEX (Market Vectors Global Alternative Energy, Expense Ratio 0.62%) and it is the larger of these two products with $96.3 million in assets under management as compared to QCLN’s $89.6 million.
GEX has a different makeup than QCLN, with top five exposure to the following names, CREE (9.65%), TSLA (9.57%), ETN (8.81%), FSLR (5.31%), and EGPW (5.30%) and it has a roughly 53/47% split to U.S. and internationally based stocks. QCLN on the other hand is very heavily focused to U.S. equity exposure, with a 97/3% split, U.S. and international.
Both QCLN and GEX have had extraordinary years in 2013 in terms of net performance, and both products have retreated slightly from recently made new all-time highs. Year to date, asset flows have been healthy for both funds, with QCLN reeling in$49 million YTD and GEX taking in $17 million of its own.