Related: Rising Electric Car Demand Powers Lithium ETF

LIT, which debuted over seven years ago, tracks the Solactive Global Lithium Index. The ETF holds 27 stocks. While electric car maker Tesla is 5.6% of the ETF’s weight, that is good for just the fourth spot on the fund’s roster. LIT’s top two holdings – FMC Corp. (NYSE: FMC) and Soc. Quimica & Minera de Chile SA (NYSE: SQM) – combine for over 42% of the ETF’s weight.

“Supply of lithium will remain tight this year through early 2018, Citigroup Inc. analysts said last month, as they raised their price estimate on lithium carbonate equivalent for next year by 24 percent $14,000 a ton,” according to Bloomberg.

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