5 Best EV, Battery and Autonomous Driving ETFs

1. First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN)

5-Year Performance as of August 4: 153.44%

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN)’s main objective is to closely track the price and yield performance of the Nasdaq Clean Edge Green Energy Index. The ETF was founded on February 8, 2007, and currently holds 63 stocks in its portfolio. It has an expense ratio of 0.58% and net assets amounting to approximately $1.6 billion. First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) is one of the best EV ETFs to buy. 

Enphase Energy, Inc. (NASDAQ:ENPH) is a prominent holding of First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN). The company designs, manufactures, and distributes home energy solutions for the solar photovoltaic industry worldwide. On July 27, Enphase Energy, Inc. (NASDAQ:ENPH) reported a Q2 non-GAAP EPS of $1.47, beating market estimates by $0.20. While the revenue increased 34.1% year-over-year to $711.12 million, it fell short of Wall Street consensus by $14.86 million. 

According to Insider Monkey’s first quarter database, 55 hedge funds were bullish on Enphase Energy, Inc. (NASDAQ:ENPH), compared to 63 funds in the prior quarter. Philippe Laffont’s Coatue Management is a significant position holder in the company, with 714,442 shares worth $150.2 million. 

Here is what Aristotle Atlantic Large Cap Growth Strategy had to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its investor letter for the first quarter of 2023:

“Enphase Energy, Inc. (NASDAQ:ENPH) designs, develops, manufactures and sells home energy solutions in the U.S. and internationally for the solar industry. The company is the world’s leading manufacturer of microinverters that convert solar-generated D.C. energy to A.C. energy usable in homes and buildings. Enphase introduced the world’s first microinverter system in 2008 and has expanded its offerings to include battery storage systems and proprietary technologies that provide energy monitoring and control services for solar energy systems. It sells its products and solutions directly to solar system distributors, large installers and strategic partners.

We see Enphase having a substantial market share that is gained through a premium product offering, superior customer service and the development of a large and diverse network of solar installers and distributors. The company’s products and services address a growing residential solar market. Coupling battery backup systems with existing and newly installed residential solar systems could accelerate the company’s revenue and earnings growth over the next several years, in our view. Additionally, commercial and international expansion offer additional revenue and earnings upside. Enphase also plans to expand manufacturing capacity in the U.S. during 2023 to benefit from tax incentives related to domestic production included in the Inflation Reduction Act (IRA).”

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