5 Best EV, Battery and Autonomous Driving ETFs

2. First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID)

5-Year Performance as of August 4: 106.99%

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) aims to replicate the price and yield performance of the Nasdaq Clean Edge Smart Grid Infrastructure Index. This index is designed to track the performance of companies that are primarily involved in fields such as electric grids, electric meters and devices, networks, energy storage and management, and enabling software used in the smart grid infrastructure sector. The ETF was created on November 16, 2009. As of August 4, 2023, First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID)’s net assets amount to $1.12 billion, along with an expense ratio of 0.58% and a portfolio consisting of 84 stocks. It is one of the best EV ETFs to monitor. 

Eaton Corporation plc (NYSE:ETN), an American-Irish multinational power management company, is the largest holding of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID). On July 26, Eaton Corporation plc (NYSE:ETN) declared a quarterly dividend of $0.86 per share, in line with previous. The dividend is payable on August 25, to shareholders of record on August 7. 

According to Insider Monkey’s first quarter database, Eaton Corporation plc (NYSE:ETN) was part of 55 hedge fund portfolios, compared to 48 in the prior quarter. Ken Griffin’s Citadel Investment Group is a prominent stakeholder of the company, with a position worth $78.3 million. 

ClearBridge Large Cap Growth Strategy made the following comment about Eaton Corporation plc (NYSE:ETN) in its Q4 2022 investor letter:

“Also within the secular category, our asset-light industrials names have flexed their strength through the bear market. Eaton Corporation plc (NYSE:ETN) is positioned in the sweet spot of several secular trends: two-way electricity solutions, microgrids and charging infrastructure for electric vehicles. While the company’s housing business is susceptible to near-term weakness, we believe Eaton can grow revenues in the mid-to-high single digits for several decades as its core utility customers have the rate base to cover ongoing electric infrastructure upgrades and buildouts.”