Defiance ETFs launches EVXX ETF tracking Solactive Pure Electric Vehicle Index

The automotive industry is going through a rapid and disruptive change. The development of alternatives to the combustion engine and especially the emergence of electric vehicles will change the landscape of the automotive ecosystem. By 2040, over 60% of all cars are projected to be electric, in line with global carbon net zero strategies[1]. Recognizing the potential of these changes, Solactive has partnered with Defiance to launch the Defiance Pure EV ETF, which will track Solactive Pure Electric Vehicle Index.

The Solactive Pure Electric Vehicle Index is designed to track the performance of companies that are primarily engaged in the development, production, and sale of EVs and related components. The index is made up of a diversified portfolio of companies, including those involved in battery production, electric motor technology, and charging infrastructure: In particular, the index aims at representing US listed securities that have business operations in the electric vehicle industry.

The ETF has been listed on 12 June 2023 on the NYSE Stock Exchange.

Timo Pfeiffer, Chief Markets Officer at Solactive, commented: “We continue to see the automotive industry undergo significant transformation and we are thrilled to partner with Defiance ETFs to offer investors a unique opportunity to participate in the growth potential of electric vehicles. The launch of the ETF tracking Solactive Pure Electric Vehicle Index aligns with our commitment to providing innovative investment solutions that capture the trends and advancements shaping our world today.”

Sylvia Jablonski, Chief Executive Officer at Defiance, commented: “We continue to hear from investors that there is demand for a pure EV ETF, which captures this emerging megatrend without diluting the purity of the product with traditional semiconductor and auto stocks, which have little or no EV sales. Defiance is thrilled  to be bringing EVXX to market to fill that void.”

[1] EVO Report 2021 | BloombergNEF | Bloomberg Finance LP