Industry Updates

Self-driving car ETF off to an electric start

George Geddes

a car driving on a road

Late in February

, BlackRock launched the iShares Electric Vehicles and Driving Technology UCITS ETF (ECAR) on the London Stock Exchange and has performed significantly well since its inception.

Since its launch on 22 February, ECAR has produced 1.5% worth of returns, aided by the 7.3% increase to its net asset value in the last 10 days, according to Bloomberg, making it one of the best performing ETFs for last week.

ECAR is comprised of at least 80 companies that are exposed to the electric vehicles and assisted driving technology industries.

Similarly, the iShares STOXX Europe 600 Automobiles & Parts UCITS ETF also performed well last week, producing returns of 6.9%. EXV5’s returns for the year-to-date is 18.26%.

Following strong March performances, China A-Shares ETFs and MSCI Turkey ETFs carried this momentum into the first week of April. The iShares Core CSI 300 Index ETF and the Lyxor MSCI Turkey UCITS ETF produced weekly returns of 8.2% and 7.3%, respectively.

Gold ETFs cling on to holdings despite drop in value

In the meantime, some of the worst performing ETFs of last week include the Global X MSCI Nigeria ETF and Global X MSCI Pakistan ETF with losses of 6.3% and 3.4%, respectively.

Palladium ETCs had an underwhelming Q1 and they don't seem to be improving in the early stages of the second quarter of the year either. The iShares Physical Palladium ETC had a loss of 2.7% for last week alone, meaning its YTD return has fallen to 7.0%. Its one year return still remains at an attractive 62.7%.


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