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Tesla Hits Record Q3 Vehicles, Misses View: ETFs in Focus
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Tesla Motors (TSLA - Free Report) reported record deliveries for the third quarter, signaling another strong earnings report later this month. However, it fell short of the Wall Street analysts’ estimates, which sent its shares tumbling.
This has put the ETFs having a substantial allocation to this luxury carmaker like Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report) , Vanguard Consumer Discretionary ETF (VCR - Free Report) , Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report) , Simplify Volt Robocar Disruption and Tech ETF (VCAR - Free Report) and MicroSectors FANG+ ETN (FNGS - Free Report) in focus for this week.
The company delivered 343,830 (325,158 Model 3 and Y, and 18,672 Model S and X) cars worldwide in the third quarter. This is up 42% from the year-ago quarter and 35% from the prior quarter. It also topped first-quarter record of 310,048. However, the number is well below analysts’ expectation of 350,000-370,000 deliveries, suggesting supply chain snarls. The Shanghai plant faced a lengthy shutdown and slow recovery in the second quarter due to Covid lockdowns (read: 10 Most-Heavily Traded ETFs of Third Quarter 2022).
The electric carmaker produced 365,923 (345,988 Model 3 and Y, and 19,935 Model S and X) vehicles during the quarter.
Tesla has a Zacks Rank #3 (Hold) and a Growth Score of A. Tesla belongs to a top-ranked Zacks industry (in the top 26%).
ETFs in Focus
Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report)
Consumer Discretionary Select Sector SPDR Fund offers exposure to the broad consumer discretionary space by tracking the Consumer Discretionary Select Sector Index.
Consumer Discretionary Select Sector SPDR Fund is the largest and most popular product in this space, with AUM of $14.2 billion and an average daily volume of around 5 million shares. Holding 56 securities in its basket, Tesla takes the second spot with 19.7% of assets. Consumer Discretionary Select Sector SPDR Fund charges 10 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
Vanguard Consumer Discretionary ETF currently follows the MSCI US Investable Market Consumer Discretionary 25/50 Index and holds 311 stocks in its basket. Of these, Tesla occupies the second position with a 15.7% allocation. Internet & direct marketing retail takes the largest share at 24.5%, while automobile manufacturers, restaurants and home improvement retail round off the next three spots (read: Consumer Confidence Jumps: ETFs to Add).
Vanguard Consumer Discretionary ETF charges investors 10 bps in annual fees, while volume is moderate at nearly 80,000 shares a day. The product has managed about $4.2 billion in its asset base and carries a Zacks ETF Rank #1 with a Medium risk outlook.
Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report)
Fidelity MSCI Consumer Discretionary Index ETF tracks the MSCI USA IMI Consumer Discretionary Index, holding 330 stocks in its basket. Of these, TSLA takes the second spot with a 16.5% share.
Fidelity MSCI Consumer Discretionary Index ETF has amassed $1 billion in its asset base while trading in a good volume of around 76,000 shares a day on average. Fidelity MSCI Consumer Discretionary Index ETF charges 8 bps in annual fees from investors and has a Zacks ETF Rank #1 with a Medium risk outlook.
Simplify Volt Robocar Disruption and Tech ETF (VCAR - Free Report)
Simplify Volt Robocar Disruption and Tech ETF is an actively managed ETF, seeking concentrated exposure to the leader of autonomous driving technology. It employs a call option overlay to seek boosts in performance during extreme moves up in Tesla, while holding a tech index for diversification, and put options as a hedge.
Simplify Volt Robocar Disruption and Tech ETF charges investors 0.95% in annual fees. It has accumulated $3.7 million in its asset base while trading in an average daily volume of 1,000 shares.
MicroSectors FANG+ ETN is linked to the performance of the NYSE FANG+ Index, which is an equal-dollar weighted index, designed to provide exposure to a group of highly traded growth stocks of next-generation technology and tech-enabled companies. It holds 10 equal-weighted stocks in its basket, with Tesla accounting for a 10% share.
MicroSectors FANG+ ETN has accumulated $49.6 million in its asset base and charges 58 bps in annual fees. It trades in an average daily volume of 24,000 shares and has a Zacks ETF Rank #3 (Hold).
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Tesla Hits Record Q3 Vehicles, Misses View: ETFs in Focus
Tesla Motors (TSLA - Free Report) reported record deliveries for the third quarter, signaling another strong earnings report later this month. However, it fell short of the Wall Street analysts’ estimates, which sent its shares tumbling.
This has put the ETFs having a substantial allocation to this luxury carmaker like Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report) , Vanguard Consumer Discretionary ETF (VCR - Free Report) , Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report) , Simplify Volt Robocar Disruption and Tech ETF (VCAR - Free Report) and MicroSectors FANG+ ETN (FNGS - Free Report) in focus for this week.
The company delivered 343,830 (325,158 Model 3 and Y, and 18,672 Model S and X) cars worldwide in the third quarter. This is up 42% from the year-ago quarter and 35% from the prior quarter. It also topped first-quarter record of 310,048. However, the number is well below analysts’ expectation of 350,000-370,000 deliveries, suggesting supply chain snarls. The Shanghai plant faced a lengthy shutdown and slow recovery in the second quarter due to Covid lockdowns (read: 10 Most-Heavily Traded ETFs of Third Quarter 2022).
The electric carmaker produced 365,923 (345,988 Model 3 and Y, and 19,935 Model S and X) vehicles during the quarter.
Tesla has a Zacks Rank #3 (Hold) and a Growth Score of A. Tesla belongs to a top-ranked Zacks industry (in the top 26%).
ETFs in Focus
Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report)
Consumer Discretionary Select Sector SPDR Fund offers exposure to the broad consumer discretionary space by tracking the Consumer Discretionary Select Sector Index.
Consumer Discretionary Select Sector SPDR Fund is the largest and most popular product in this space, with AUM of $14.2 billion and an average daily volume of around 5 million shares. Holding 56 securities in its basket, Tesla takes the second spot with 19.7% of assets. Consumer Discretionary Select Sector SPDR Fund charges 10 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
Vanguard Consumer Discretionary ETF (VCR - Free Report)
Vanguard Consumer Discretionary ETF currently follows the MSCI US Investable Market Consumer Discretionary 25/50 Index and holds 311 stocks in its basket. Of these, Tesla occupies the second position with a 15.7% allocation. Internet & direct marketing retail takes the largest share at 24.5%, while automobile manufacturers, restaurants and home improvement retail round off the next three spots (read: Consumer Confidence Jumps: ETFs to Add).
Vanguard Consumer Discretionary ETF charges investors 10 bps in annual fees, while volume is moderate at nearly 80,000 shares a day. The product has managed about $4.2 billion in its asset base and carries a Zacks ETF Rank #1 with a Medium risk outlook.
Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report)
Fidelity MSCI Consumer Discretionary Index ETF tracks the MSCI USA IMI Consumer Discretionary Index, holding 330 stocks in its basket. Of these, TSLA takes the second spot with a 16.5% share.
Fidelity MSCI Consumer Discretionary Index ETF has amassed $1 billion in its asset base while trading in a good volume of around 76,000 shares a day on average. Fidelity MSCI Consumer Discretionary Index ETF charges 8 bps in annual fees from investors and has a Zacks ETF Rank #1 with a Medium risk outlook.
Simplify Volt Robocar Disruption and Tech ETF (VCAR - Free Report)
Simplify Volt Robocar Disruption and Tech ETF is an actively managed ETF, seeking concentrated exposure to the leader of autonomous driving technology. It employs a call option overlay to seek boosts in performance during extreme moves up in Tesla, while holding a tech index for diversification, and put options as a hedge.
Simplify Volt Robocar Disruption and Tech ETF charges investors 0.95% in annual fees. It has accumulated $3.7 million in its asset base while trading in an average daily volume of 1,000 shares.
MicroSectors FANG+ ETN (FNGS - Free Report)
MicroSectors FANG+ ETN is linked to the performance of the NYSE FANG+ Index, which is an equal-dollar weighted index, designed to provide exposure to a group of highly traded growth stocks of next-generation technology and tech-enabled companies. It holds 10 equal-weighted stocks in its basket, with Tesla accounting for a 10% share.
MicroSectors FANG+ ETN has accumulated $49.6 million in its asset base and charges 58 bps in annual fees. It trades in an average daily volume of 24,000 shares and has a Zacks ETF Rank #3 (Hold).