Tesla's Run Boosts its Profile in ETFs, Mutual Funds

Tesla has a market value of about $56.7 billion, or about $6 billion more than General Motors (NYSE: GM). Close to 70 ETFs features exposure to Tesla, but many do not feature large weights to the electric vehicle maker. The actively managed ARK’s Industrial Innovation ETF (NYSEARCA: ARKQ) has one of the largest weights to Tesla among all ETF holders of the stock.

“At 10 percent of assets, the $66-million ARK Industrial Innovation ETF has the largest position in Tesla among all exchange-traded funds, according to Morningstar. The actively-managed fund, which aims to buy companies following a theme of disruptive innovation, is up 33.7 percent for the year,” reports Reuters.

Related: Keep in Mind Apple’s Weight in Many Popular ETFs

Passive ETFs with larges Tesla exposure include some alternative energy funds. For example, the VanEck Global Alternative Energy ETF (NYSEARCA: GEX) has an 8.7% weight to Tesla, making the stock that ETF’s third-largest holding. Likewise, the First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ: QCLN) has a 7.7% Tesla weight, making the ETF’s fourth-largest holding.

The Global X Lithium ETF (NYSEArca: LIT), which has recently been hitting a string of record highs, has a more than 6% weight to Tesla, putting the stock among the ETF’s top five holdings. Helped by Tesla, LIT is up nearly 34% year-to-date.

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