|Expense Ratio (net)||1.98%|
|Morningstar Risk Rating||★★★★★|
|Last Cap Gain||N/A|
|Inception Date||Oct 29, 2007|
|Average for Category||N/A|
Some of Tesla Motor Inc's biggest investors have signaled support for CEO Elon Musk's plan to buy solar power company SolarCity Corp, although the electric car maker's stock cratered on Wednesday, lopping more than the $2.8 billion value of the proposed deal off Tesla's market capitalization. "It's a natural evolution of their mission to transform transportation into a sustainable business," said Joe Dennison, a portfolio manager of Zevenbergen Capital Investments, which has about 600,000 Tesla shares, or about 0.4 percent of shares outstanding.
Investors questioned a plan by Silicon Valley heavyweight Elon Musk for his electric car company Tesla Motors to buy his rooftop solar company SolarCity for up to $2.8 billion, sending Tesla's shares down more than 10 percent on concerns the two would not fit together and a deal would distract Tesla from making cars. Musk, an audacious entrepreneur who is the chairman of SolarCity Corp, chief executive of Tesla Motors Inc and the largest shareholder of both companies, envisions a one-stop shop for clean-energy fans, who would be able to buy an electric car, home solar system and battery backup in a single visit. Musk, who is also the CEO of rocket-maker SpaceX, and Tesla management risked being distracted from rolling out the new Model 3 sedan, a mass-market electric vehicle key to the success of the young firm, analysts said, questioning whether merging two companies which both need substantial cash was a good idea.