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Tesla Rolls Out Record Deliveries in Q1: ETFs in Focus
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Tesla Motors (TSLA - Free Report) reported record deliveries for the first quarter fueled by higher demand due to big price cuts across the globe.
This has put ETFs having a substantial allocation to this luxury carmaker like MeetKevin Pricing Power ETF (PP - Free Report) , Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report) , ARK Autonomous Technology & Robotics ETF (ARKQ - Free Report) , Vanguard Consumer Discretionary ETF (VCR - Free Report) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report) in focus for this week.
The company delivered 422,875 (412,180 Model 3 and Y and 10,695 Model S and X) cars worldwide in the first quarter. This is up 36% from the year-ago quarter and 4% from the prior quarter. The electric carmaker produced a record 440,808 (421,371 Model 3 and Y, and 19,437 Model S and X) vehicles during the quarter.
The strong numbers came as the automaker ramped up production at new factories in Texas and Berlin. Production also recovered in China from a COVID-19 lockdown. Further, the company slashed prices globally by as much as 20% in January, unleashing a price war. The basic Model Y, which used to sell for $65,990, now costs $54,990.
The Tesla stock has climbed 68% so far this year on hopes that the company would win the price war it started. Tesla currently has a Zacks Rank #4 (Sell) and belongs to a top-ranked Zacks industry (in the top 37%). It has a Growth Score of A (read: Should You Buy the Dip in Tesla With ETFs?).
MeetKevin Pricing Power ETF is an actively managed ETF that seeks to achieve its investment objective by investing primarily in the U.S.-listed equity securities of Innovative Companies that, in Kevin’s view, have more “pricing power” than their peers. The fund holds a small basket of 10 stocks, with Tesla occupying the top position at 26.7%.
MeetKevin Pricing Power ETF newly debuted in the space at the end of November and has accumulated $23.2 million in its asset base. It charges 77 bps in annual fees and trades in a lower volume of 35,000 shares a day on average.
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 (read: GICS Sector Changes: Impact on Sector ETFs).
Consumer Discretionary Select Sector SPDR Fund is the largest and most popular product in this space, with AUM of $13.7 billion and an average daily volume of around 5.6 million shares. Holding 53 securities in its basket, Tesla takes the second spot with 16.8% 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.
ARK Autonomous Technology & Robotics ETF is an actively managed ETF seeking long-term capital appreciation by investing in companies that benefit from the development of new products or services as well as technological improvement and advancements in scientific research related to energy, automation and manufacturing, materials and transportation. This approach results in a basket of 36 stocks, with Tesla occupying the top spot with a 14.6% share.
ARK Autonomous Technology & Robotics ETF has accumulated $905.5 million in its asset base and charges 75 bps in fees per year. It trades in a volume of 82,000 shares a day on average.
Vanguard Consumer Discretionary ETF currently follows the MSCI US Investable Market Consumer Discretionary 25/50 Index and holds 308 stocks in its basket. Of these, Tesla occupies the second position with a 12.7% allocation. Internet & direct marketing retail takes the largest share at 22.6%, while automobile manufacturers, restaurants and home improvement retail round off the next three spots (read: Consumer Savings at One-Year High: ETFs to Buy).
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 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 311 stocks in its basket. Of these, TSLA takes the second spot with a 12.5% share.
Fidelity MSCI Consumer Discretionary Index ETF has amassed $1 billion in its asset base while trading in a good volume of around 80,000 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 #3 (Hold) with a Medium risk outlook.
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Tesla Rolls Out Record Deliveries in Q1: ETFs in Focus
Tesla Motors (TSLA - Free Report) reported record deliveries for the first quarter fueled by higher demand due to big price cuts across the globe.
This has put ETFs having a substantial allocation to this luxury carmaker like MeetKevin Pricing Power ETF (PP - Free Report) , Consumer Discretionary Select Sector SPDR Fund (XLY - Free Report) , ARK Autonomous Technology & Robotics ETF (ARKQ - Free Report) , Vanguard Consumer Discretionary ETF (VCR - Free Report) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report) in focus for this week.
The company delivered 422,875 (412,180 Model 3 and Y and 10,695 Model S and X) cars worldwide in the first quarter. This is up 36% from the year-ago quarter and 4% from the prior quarter. The electric carmaker produced a record 440,808 (421,371 Model 3 and Y, and 19,437 Model S and X) vehicles during the quarter.
The strong numbers came as the automaker ramped up production at new factories in Texas and Berlin. Production also recovered in China from a COVID-19 lockdown. Further, the company slashed prices globally by as much as 20% in January, unleashing a price war. The basic Model Y, which used to sell for $65,990, now costs $54,990.
The Tesla stock has climbed 68% so far this year on hopes that the company would win the price war it started. Tesla currently has a Zacks Rank #4 (Sell) and belongs to a top-ranked Zacks industry (in the top 37%). It has a Growth Score of A (read: Should You Buy the Dip in Tesla With ETFs?).
ETFs in Focus
MeetKevin Pricing Power ETF (PP - Free Report)
MeetKevin Pricing Power ETF is an actively managed ETF that seeks to achieve its investment objective by investing primarily in the U.S.-listed equity securities of Innovative Companies that, in Kevin’s view, have more “pricing power” than their peers. The fund holds a small basket of 10 stocks, with Tesla occupying the top position at 26.7%.
MeetKevin Pricing Power ETF newly debuted in the space at the end of November and has accumulated $23.2 million in its asset base. It charges 77 bps in annual fees and trades in a lower volume of 35,000 shares a day on average.
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 (read: GICS Sector Changes: Impact on Sector ETFs).
Consumer Discretionary Select Sector SPDR Fund is the largest and most popular product in this space, with AUM of $13.7 billion and an average daily volume of around 5.6 million shares. Holding 53 securities in its basket, Tesla takes the second spot with 16.8% 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.
ARK Autonomous Technology & Robotics ETF (ARKQ - Free Report)
ARK Autonomous Technology & Robotics ETF is an actively managed ETF seeking long-term capital appreciation by investing in companies that benefit from the development of new products or services as well as technological improvement and advancements in scientific research related to energy, automation and manufacturing, materials and transportation. This approach results in a basket of 36 stocks, with Tesla occupying the top spot with a 14.6% share.
ARK Autonomous Technology & Robotics ETF has accumulated $905.5 million in its asset base and charges 75 bps in fees per year. It trades in a volume of 82,000 shares a day on average.
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 308 stocks in its basket. Of these, Tesla occupies the second position with a 12.7% allocation. Internet & direct marketing retail takes the largest share at 22.6%, while automobile manufacturers, restaurants and home improvement retail round off the next three spots (read: Consumer Savings at One-Year High: ETFs to Buy).
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 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 311 stocks in its basket. Of these, TSLA takes the second spot with a 12.5% share.
Fidelity MSCI Consumer Discretionary Index ETF has amassed $1 billion in its asset base while trading in a good volume of around 80,000 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 #3 (Hold) with a Medium risk outlook.