1 Top Lithium Battery ETF I’m Buying Today

The electric vehicle (EV) market looked like it was ready to take a great leap forward in the 2020s. In 2010, EVs possessed a fraction of a percentage point when it came to its total market share. This market breached 1% by 2017 and finished the decade in 2019 at a market share just shy of 3%. A slew of top automobile manufacturers moved into the EV market to star the 2020s. Its market share has skyrocketed in response.

In this piece, I want to zero-in on a market that is thriving due to the proliferation of EVs. Indeed, the global lithium-ion battery market was valued at US$65.9 billion by Spherical Insights in 2021. That same report projected that the market would deliver a compound annual growth rate (CAGR) of 19% from 2021 through to 2030. The report estimates that this market will be worth US$273 billion by the end of the forecast period.

Investors who want to get in on this explosive industry might want to snatch up the Horizons Global Lithium Producers ETF (TSX:HLIT). This exchange-traded fund (ETF) seeks to replicate the performance of an index that is designed to provide exposure to the performance of global, publicly listed companies engaged in the mining and/or production of lithium. Shares of this ETF have dropped 2.7% month-over-month as of close on Friday, July 28. The ETF is still up 14% so far in 2023.

Some of the top holdings in this fund include Pilbara Minerals, ALLKEM, Albemarie, and the Vancouver-based Lithium Amerias. This ETF still has huge growth potential right now.