An ETF from CSOP Asset Management Limited will soon list on the Hong Kong Stock Exchange, tracking an index whose heavy positions include Tesla and Nio.
CSOP announced Wednesday that the CSOP Global Smart Driving Index ETF (stock ticker: 3162.HK) will be listed on August 12 and has received an initial investment of about $5.3 million.
The ETF will be listed at a starting price of approximately HK$7.8 per share, with a lot size of 100 shares and a management fee of 0.99 percent.
The ETF tracks the Solactive Global Smart Driving Index, which invests in up to 50 of the global industry leaders listed in the US and China.
As of August 10, the index's top five constituents were Tesla, Texas Instruments, Analog Devices, Chinese power battery giant CATL, and Nio.
Tesla has an 8.25 percent weighting in the index, CATL is at 6.81 percent and Nio is at 6.54 percent.
The index is an average performer through 2020, but it saw significant gains from the early 2020s when global electric vehicle stocks are highly sought after.
The index is up 78 percent over the past year, and up 155 percent since its inception.
Nio was up about 1,100 percent in 2020 and up 240 percent over the past year. Tesla rose 740 percent in 2020 and 150 percent over the past year.
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