Invesco Launches EV Metals-Focused ETF Amid Energy Transition
Invesco, an independent investment management firm, recently launched its EV Metals ETF earlier last week. This comes as forecasts call for more metals required for the transition to renewable energy use in an effort to decrease dependence on fossil fuels. The exchange-traded fund, which is officially referred to as the Invesco Electric Vehicle Metals Commodity Strategy No. K-1 ETF, is trading under the EVMT ticker. It holds futures contracts tied to iron ore, aluminum, zinc, copper, cobalt and nickel. The company is betting that the increasing interest in electric cars will create a new trading opportunity in the metals needed…
