ETF Trends publisher Tom Lydon discussed the Global X Lithium & Battery Tech ETF (LIT) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show.
Among the top performing non-leveraged ETFs this year +63.7% YTD, LIT now has $900 million in assets under management after attracting +$622 million YTD.
The U.S. is in the early stages of a dramatic shift in lithium demand – the main driver is the acceleration of electric vehicle sales.
Previously viewed as a luxury hobby/gadget for affluent consumers, electric vehicles are going mainstream.
LIT has access to a basket of companies involved in lithium mining, refining and battery production; it’s the only ETF to provide targeted play on lithium and batteries.
Top holdings include FMC Corp 23.6%, Quimica Y Minera Chile 18.8%, Samsung 6.0%, Tesla Motors 4.9%, Albemarle 4.7%, BYD co 4.3%, LG Chem 4.2%, Panasonic 3.8%, galaxy resources 3.5%, and GS Yuasa 3.5%.