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VanEck today announced a change to its ETF lineup related to some key developments in the ways in which investors are driving change in the energy space and seeking out opportunities to invest in stocks of low carbon energy companies. “As climate change and its potential solutions have become more present in our global discourse, the language used by those within the energy sector, as well as those investing in it, has changed and evolved,” said Ed Lopez, Head of ETF Product at VanEck. To that end, as of July 9, 2019, the Fund GEX will become the VanEck Vectors® Low Carbon Energy ETF and will have a new ticker: SMOG.
At the close of Wednesday's market session, shares of Tesla were up 6% after the electric automaker reported record production and delivery numbers during the second quarter, earning praise from market analysts and automotive executives alike. ETFs with heavy weightings in Tesla to play include the VanEck Vectors Global Alt Energy ETF (GEX) and the ARK Industrial Innovation ETF (ARKQ) . Auto executives and analysts were quick to heap their praise on the electric automaker following the latest numbers. The Model 3 filled a lot of that production need.
Today's investors have access to a growing number of green ETFs, allowing them to incorporate environmentally friendly strategies into their investment decisions. Exchange traded funds (ETFs) are investment funds that trade on a stock exchange.
Tesla delivered 33,000 vehicles in North America so far this quarter and is aiming to supply additional 33,000 cars in the final month of the current quarter.
Editor's note: This story was previously published in December 2018. It has since been updated and republished.Alternative energy is an increasingly prominent theme not only on the energy consumption front, but in the investment universe as well. A slew of exchange-traded funds (ETFs) focus on these themes, but there are only a few clean energy ETFs that truly stand out from the pack.Scores of data points confirm the move away from traditional fossil fuels to clean energy sources. For example, California, the largest U.S. state, recently put into the state building code a mandate that all new homes built there, starting in 2020, must have solar panels. Other data points indicate renewables are pressuring traditional power sources, such as coal.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"The competitive environment for coal-fired power in the generation marketplace is becoming ever more challenging as the price of renewables continues to fall and as natural gas prices are expected to remain low for the foreseeable future," according to the Institute For Energy Economics and Financial Analysis (IEEFA). * 7 Strong Buy Stocks That Tick All the Boxes Declining costs are fostering adoption of renewables and that trend could be a long-term catalyst for clean energy ETFs."The cost of building a new utility-scale solar or wind farm has now dropped below the cost of operating an existing coal plant, according to an analysis by the investment bank Lazard," reports CBS.Here are some of the best clean energy ETFs to consider in 2019. Source: Shutterstock ALPS Clean Energy ETF (ACES)Expense Ratio: 0.65% per yer, or $65 per $10,000 investedAmong clean energy ETFs, the ALPS Clean Energy ETF (NYSEARCA:ACES) is one of the newest having debuted late last June. Despite its rookie status, ACES may also be one of the most compelling clean energy ETFs due to its multi-theme exposure. While many clean energy ETFs focus on a specific part of the alternative energy universe, such as electric vehicles, solar or wind, ACES offers exposure to all those themes and then some.This clean energy ETF features solar, wind, smart grid, biomass, geothermal, electrical vehicle/storage and fuel cell stocks, giving it a broader reach than more established clean energy ETFs that you can buy."The fund's underlying index has a differentiated approach to investing in the sector. First, by narrowing the list of constituents to companies whose primary operations are focused on clean energy, the fund offers more pure-play exposure to the sector," according to ALPS.ACES holds 34 stocks and the largest holding is Cree (NASDAQ:CREE) at a weight of 5.75%. Invesco WilderHill Clean Energy ETF (PBW)Expense Ratio: 0.70%The Invesco WilderHill Clean Energy ETF (NYSEARCA:PBW) is just a few months shy of its fourteenth birthday, making it one of the more seasoned clean energy ETFs to buy on the market. The $105.10 million PBW targets the WilderHill Clean Energy Index.That index "is composed of stocks of companies that are publicly traded in the United States and engaged in the business of advancement of cleaner energy and conservation," according to Invesco. * 7 Energy Stocks to Buy to Light Up Your Portfolio The average market value of PBW's 39 holdings is $4.70 billion, indicating this clean energy ETF is a mid-cap fund. Just about 14% of PBW's constituents are classified as large caps. Another factor investors must consider with clean energy ETFs is that many of the stocks populating this investment niche are growth names.PBW fits that bill as over 48% of its components are classified as growth stocks. A price-to-earnings ratio of over 48 confirms this clean energy ETF's growth tilt. Source: Shutterstock Invesco Solar ETF (TAN)Expense Ratio: 0.70%The Invesco Solar ETF (NYSEARCA:TAN) is one of the largest clean energy ETFs despite its focus on one segment of the alternative energy space. Solar stocks are struggling this year, as highlighted by TAN's year-to-date decline of over 20%, but this clean energy ETF could be one to watch in 2019.Morgan Stanley recently raised a Market Weight rating on First Solar (NASDAQ:FSLR), TAN's largest holding at a weight of 10.62%. The restored its former price target on the largest U.S. solar company to $60 from $56.Solar installation trends in the U.S. and around the world bode well for TAN over the long-term."A record 8.5 gigawatts (GW) of utility solar projects were procured in the first six months of this year after President Donald Trump in January announced a 30 percent tariff on panels produced overseas, according to the report by Wood Mackenzie Power & Renewables and industry trade group the Solar Energy Industries Association," reports Reuters. Source: Shutterstock SPDR Kensho Clean Power ETF (XKCP)Expense Ratio: 0.45%The SPDR Kensho Clean Power ETF (NYSEARCA:XKCP) is another one of the newer entrants to the clean energy ETF space, having debuted in October. XKCP is also one of the more unique clean energy ETFs investors will find.The fund's underlying benchmark uses "artificial intelligence and a quantitative weighting methodology to capture companies whose products and services are driving innovation behind the clean energy sector, which includes the areas of solar, wind, geothermal, and hydroelectric power," according to State Street. * 7 Stocks to Buy That Ought to Buy Back Shares XKCP holds 43 stocks with an average market value of $18.29 billion. Enphase Energy (NASDAQ:ENPH) is the fund's largest holding at a weight of 5.25%. This clean energy ETF is diverse at the industry level, featuring exposure to 15 industries, including utilities, semiconductors and renewable electricity, among others. Source: Dave via Flickr (Modified) VanEck Vectors Global Alternative Energy ETF (GEX)Expense Ratio: 0.63%The VanEck Vectors Global Alternative Energy ETF (NYSEARCA:GEX) is a clean energy ETF with multiple applications across the alternative energy investment landscape. While GEX holds just 30 stocks, its roster spans bio mass, wind, solar, hydro and geothermal companies as well as companies that offer related products and services.GEX offers some level of renewable purity because its underlying index mandates that member firms derive at least half their revenue from clean energy endeavors. Just 4% of GEX's components are not large or mid caps.Relative to some other clean energy ETFs to buy, GEX sports attractive valuations as confirmed by a price-to-book ratio of just over 1 and a price-to-earnings ratio of 14.03.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Wildest Stock Market Predictions for 2019 * 7 Stocks to Buy Down 10% Last Week * 10 Stocks Defying the Market Selloff, Including Cronos Compare Brokers The post 5 Clean Energy ETFs to Buy for 2019 appeared first on InvestorPlace.
Shares of Tesla fell over 10 percent on Thursday as the company disappointed investors on Model 3 deliveries, which fell below expectations and hurt exchange-traded funds (ETFs) with the largest holdings of the electric carmaker. ETFs with the heaviest weightings in Tesla were affected, such as the VanEck Vectors Global Alt Energy ETF (GEX) --down 0.43 percent and the ARK Industrial Innovation ETF (ARKQ) --down 1.26 percent. "Tesla continues to struggle as a 'real car company,' with demand collapsing for the tired Model S/X platforms and higher priced versions of the Model 3," Cowen analyst Jeff Osborn said in a note Thursday.
Shares of Tesla fell as much as 5 percent on Friday after the newly-revealed Model Y failed to impress Wall Street during its Thursday night debut at a Los Angeles-based design studio. "Overall, we found the event somewhat underwhelming with no major surprises," Deutsche Bank's Emmaneul Rosner said in a note. Tesla CEO Elon Musk said the new Model Y will share 75 percent of the same parts currently used in the entry-level Model 3.
Shares of Tesla fell as much as 8 percent on Friday as the electric automaker is planning to shutter stores and reduce its workforce in an effort to curb costs. Additionally, CEO Elon Musk said Tesla would not be able to produce a profit in the first quarter of 2019. ETFs to watch with the heaviest weightings in Tesla were affected, such as the VanEck Vectors Global Alt Energy ETF (GEX) --down 0.23 percent, ARK Industrial Innovation ETF (ARKQ) --down 0.53 percent and the First Trust NASDAQ Cln Edge GrnEngyETF (QCLN) --down 0.48 percent.
On Friday, Tesla has a $920 million payment in bonds to make as pressures mount for CEO Elon Musk amid its declining cash reserves. In its 15-year history, Tesla has only been profitable for three quarters. In Q3 2018, Tesla made a profit of $312 million (about 4%), but capital expenditures were near the $2 billion level.
Though Tesla missed earnings estimate, it posted back-to-back quarterly profit for the first time in its history. This has put the spotlight on ETFs having substantial allocation to this luxury carmaker.
In four weeks, Tesla has a $920 million payment in bonds to make as pressures mount for CEO Elon Musk amid a 7 percent reduction in the electric carmaker's workforce. ETFs to watch with the heaviest weightings in Tesla include the VanEck Vectors Global Alt Energy ETF (GEX) , ARK Industrial Innovation ETF (ARKQ) and the First Trust NASDAQ Cln Edge GrnEngyETF (QCLN) . In its 15-year history, Tesla has only been profitable for three quarters.
Shares of Tesla fell by around 13% on Jan 18, after the company announced that it will cut around 7% of its workforce and lowered its guidance for fourth-quarter profit, putting related ETFs in focus.
VanEck announced today preliminary yearend distribution estimates for its VanEck Vectors® equity exchange-traded funds.
The tweet heard around the capital markets regarding Tesla CEO Elon Musk's idea of taking the electric auto manufacturer private is now landing him in hot water as the SEC has filed a civil lawsuit against Musk, alleging he issued "false and misleading" statements and failed to communicate material company events to regulators. Shares of Tesla (TSLA) took a deep dive as the stock plummeted over 12% as of 11:00 a.m. ET, hurting ETFs with heavy weightings, such as the VanEck Vectors Global Alt Energy ETF (GEX) --down 1.24%, ARK Industrial Innovation ETF (ARKQ) --down 1.34% and the First Trust NASDAQ Cln Edge GrnEngyETF (QCLN) --down 1.11%. Downward pressure on Tesla's share price was also applied as investors are positing whether the SEC lawsuit could bring about an abrupt departure of Musk on a temporary or permanent basis.
ETFs with heavy weightings in Tesla stock were mostly down, such as the VanEck Vectors Global Alt Energy ETF (GEX) --down 0.94%, ARK Industrial Innovation ETF (ARKQ) --down 0.22% and the First Trust NASDAQ Cln Edge GrnEngyETF (QCLN) --down 0.61% as of 11:00 a.m. ET. Musk's behavior on the podcast is a culmination of what has been tumultuous times for the electric carmaker founder, which started when he first sent a tweet that he was considering taking the company private at a price of $420 a share, citing that it was "the best path forward." The decision to privatize Tesla halted trading of the company's shares for 92 minutes, leaving Tesla investors in a panic.
As in most cases when you mix social media and market influencers, it took just one tweet to send the capital markets spinning yesterday when Tesla co-founder and CEO Elon Musk announced he was mulling the idea of taking the Palo Alto, California-based company private--a move that would affect exchange-traded funds with the heaviest weightings of its stock, leaving them in limbo as they await Musk's next move. ETFs affected include VanEck Vectors Global Alt Energy ETF (GEX) , ARK Industrial Innovation ETF (ARKQ) and First Trust NASDAQ Cln Edge GrnEngyETF (QCLN) .