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.
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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