ERTH - ETFs tied to Chinese EVs climb even as Li Auto has trouble holding earnings rally

Exchange traded funds tied to Chinese EV companies advanced during Monday's intraday trading, even as LI Auto ( NASDAQ: LI ) gave up early gains it posted in the wake of its Q4 results. The advance came ahead of quarterly updates due out from Xpeng ( NYSE: XPEV ) and NIO ( NYSE: NIO ).

Meanwhile, the EV sector in general received a boost from results from Fisker ( NYSE: FSR ). This move also came with Rivian ( RIVN ) figures on tap. FSR climbed more than 25% in intraday trading after projecting positive EBITDA and providing an upbeat deliveries update .

Looking specifically at the China-based players in the market, Li Auto ( LI ) shares showed strength earlier in the day on a Q4 earnings beat and a rosy outlook. However, the stock backtracked during the middle of the day and sat near the flat line at about 2 p.m. ET.

Elsewhere in the sector, Xpeng ( XPEV ) shares traded higher after the Hang Seng TECH Index announced that the automaker will join the index .

XPEV, LI are owned by 33 ETFs and NIO is owned by 62 ETFs. Within this group, KraneShares MSCI China Clean Technology Index ETF ( KGRN ) advanced more than 1% , while Invesco Golden Dragon China Portfolio ETF ( PGJ ) climbed by about 2% .

For KGRN, NIO has the heaviest weighting inside the fund, with a concentration of 8.1%. XPEV and LI are also significantly represented within the ETF, with a 4.2% weighting and a 1.7% weighting, respectively.

Looking at other ETFs with heavy concentrations of NIO, XPEV and LI, Invesco MSCI Sustainable Future ETF ( ERTH ) +1.2% and VanEck Vectors Low Carbon Energy ETF ( SMOG ) +1.3% .

Here are some related ETFs and their intraday action on Monday:

• SPDR S&P Kensho Smart Mobility ETF ( HAIL ) +1.7%
• Global X Autonomous & Electric Vehicles ETF ( DRIV ) +1.7%
• KraneShares Electric Vehicles & Future Mobility Index ETF ( KARS ) +1.6%
• iShares Self-Driving EV and Tech ETF ( IDRV ) +1.5%
• Amplify Lithium & Battery Technology ETF ( BATT ) +1.1%
• Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares ( EVAV ) +5.4%

For a look at the overall market, see why Seeking Alpha contributor Tony Investing says " reducing restrictions in China could support new car demand throughout 2023. "

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