Global X Lithium & Battery Tech ETF (LIT) rose by +3.09% yesterday as top Lithium-consuming industries scramble to get their hands on the key material amid supply concerns.
According to the trusted Benchmark Mineral Intelligence Index, Lithium prices have risen by 107% year-to-date. Overall demand for the materials used in electric cars and renewable-energy storage has soared with miners failing to meet consumption.
As the largest Lithium ETF, Global X Lithium & Battery Tech ETF (LIT) offers a wide exposure to the niche industry. The fund invests in companies throughout the lithium cycle, including mining, refinement and battery production. Since inception on July 22nd, 2010, LIT has amassed over $4.72 billion in assets and provided its investors with +210% returns. This year alone, gains exceeded 30%.
LIT’s largest geographical exposure include China (50.5%) and the United States (21.3%), and its top holdings include Albemarle Corp (13.68%), one of the largest providers of lithium and Yunnan Energy (7.09%), the world’s largest lithium battery separator producer.
The fund trades on the NYSE Arca and charges an annual fee of 0.75%.
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