BlackRock has further expanded its thematic fund coverage with the launch of a sustainable transportation ETF, Citywire Selector reports.
The new launch will track the STOXX Global Electric Vehicles & Driving Technology index, which is made up of companies involved in manufacturing, battery suppliers and component producers.
The iShares Electric Vehicles and Driving Technology (ECAR) increases BlackRock’s thematic ETF range to 17 funds and adds to their 27-strong range of ESG ETFs. It will have a total expense ratio of 0.4%.
Commenting on the launch, Rob Powell, lead strategist, iShares Thematic Investing at BlackRock, said: “We are on the cusp of another huge leap in the way we get from A to B, as the irreversible trend towards electric vehicles unfolds. And beyond the vehicle manufacturers, producers of battery technology, autonomous vehicle components and charging infrastructure will all benefit from this revolution in transportation.”
Source Citywire