BlackRock Launches Electric Vehicle Tech ETF in Europe
February 25 2019 - 12:58PM
Dow Jones News
By Dieter Holger
BlackRock Inc. (BLK) has launched an exchange-traded fund that
invests in electric-vehicle and automotive technology, it said
Monday.
The iShares Electric Vehicles and Driving Technology UCITS ETF
(ECAR) tracks the STOXX Global Electric Vehicles & Driving
Technology Index, which contains manufacturers, battery suppliers
and component producers, the asset manager said.
"Beyond the vehicle manufacturers, producers of battery
technology, autonomous vehicle components and charging
infrastructure will all benefit from this revolution in
transportation," said Rob Powell, lead strategist of iShares
Thematic Investing at BlackRock.
Garmin Ltd. (GRMN) is the top holding in the ETF at 1.93%,
followed by Integrated Device Technology Inc. (IDTI) at 1.91% and
Marvell Technology Group Ltd. (MRVL) at 1.62%, according to ECAR's
factsheet.
ECAR charges investors in the fund $40 for every $10,000
invested, representing an expense ratio of 0.40%.
The ETF joins BlackRock's lineup of 16 thematic ETFs and 27
environmental, social and governance ETFs listed in Europe,
BlackRock said.
Write to Dieter Holger at dieter.holger@dowjones.com;
@dieterholger
(END) Dow Jones Newswires
February 25, 2019 12:43 ET (17:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Marvell Technology (NASDAQ:MRVL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Marvell Technology (NASDAQ:MRVL)
Historical Stock Chart
From Sep 2023 to Sep 2024