Whether it’s electric vehicles, solar panels, or wind turbines, clean energy concepts and products depend on an assortment of components and metals.
Some might call those green metals, and this new exchange traded fund is dedicated to that theme. The VanEck Green Metals ETF (GMET) debuted yesterday and could easily check some of the boxes that all new ETFs yearn to check, including good timing and a relevant underlying investment objective.
GMET, the latest addition to VanEck’s suite of environmentally focused ETFs, follows the MVIS Global Clean-Tech Metals Index. That benchmark features exposure to companies that produce, refine, recycle, and process green metals.
“Green metals are metals used in the applications, products and processes that enable the energy transition from fossil fuels to cleaner energy sources and technologies,” according to VanEck.
Whether it’s cobalt, copper, lithium, manganese, nickel, or others, a variety of green metals are essential to renewable energy concepts. For example, copper is need for solar cells, hydrogen concepts, nuclear plants, and more. Lithium is, of course, pivotal in energy storage while zinc is used in wind turbines, solar cells, energy storage, and more.
“Many clean energy sources and associated applications require far more metals inputs than traditional fossil fuel-based equivalents. For example, in addition to steel, a conventional car requires copper and manganese, whereas an electric car requires more copper and more...
Read Full Story: https://www.etftrends.com/tactical-allocation-channel/gmet-has-recipe-for-success-as-renewable-energy-metals-demand-soars/
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