The Global X Lithium ETF (Global X Funds (NYSE: LIT)) climbed nearly 2.7 percent Tuesday on volume that was more than quadruple the daily average, bringing its year-to-date gain to 17.5 percent. However, while investors are fawning over gold and silver miners equities, the same cannot be said of some of LIT's constituents.
LIT's Holdings
LIT is home to 25 stocks, including Elon Musk's Tesla Motors Inc (NASDAQ: TSLA) and Johnson Controls Inc (NYSE: JCI). FMC Corp (NYSE: FMC) is by far the ETF's largest holding at 19.9 percent, or more than double the weight assigned to LIT's second-largest holding.
The Tesla Element
Much of the skepticism surrounding lithium stocks is being applied to Tesla and that company's ability to deliver a highly desirable product at an appealing price point.
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