While autonomous vehicles are not as widespread as electric vehicles, the goal of full automation is already under way. According to RethinkX, by freeing drivers from spending time driving, autonomous vehicles could boost U.S. GDP by $0.5 to $2.3 trillion by 2030. Additionally, by removing the need for humans to park cars, we could see parking spaces shrink in size and free up more space.
The Global X Autonomous & Electric Vehicles ETF tries to reflect the performance of the Solactive Autonomous & Electric Vehicles Index, which includes companies that are involved in the development of electric vehicles and/or autonomous vehicles, including companies that produce electric/hybrid vehicles, electric/hybrid vehicle components and materials, autonomous driving technology, and network connected services for transportation, according to a prospectus sheet.
Top holdings include Samsung Electronics 3.1%, Intel 3.1%, Microsoft 3.1%, Toyota Motor 3.1% and Apple 3.0%. Sector weights include information technology 43.6%, consumer discretionary 32.6%, materials 14.9% and industrials 8.9%.
Top country weights include U.S. 52.1%, Japan 8.5%, Germany 8.0%, South Korea 6.6% and Britain 6.5%.
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