BlackRock prepares to launch another environmentally friendly ETF
Petmal

BlackRock, the worldâs largest asset manager, plans to unveil the iShares Breakthrough Environmental Solutions ETF, which will act as another climate transition focused exchange traded fund.
According to the U.S. Securities and Exchange Commission filing, BlackRockâs ETF will seek to offer market participants exposure to companies that are involved in advancing innovations and developments of new technologies that address the climate transition.
The exchange traded fund is meant to track the performance of the Morningstar Global Emerging Green Technologies Select Index which is -34.1% year-to-date, and +70.9% over a larger 5-year trading horizon.
Additionally, the current Morningstar Global Emerging Green Technologies Select Index has 987 holdings with its top three weighted names placed in Apple (AAPL), Microsoft (MSFT), and NVIDIA Corp (NVDA) at a cumulative 38.63% weighting. AAPL makes up a 20.40% position in the index, while MSFT has a 15.25% stake, and NVDA holds a 2.98% weighting.
Furthermore, the unveiling of the iShares Breakthrough Environmental Solutions ETF will bolster BlackRockâs environmental ETF lineup, which already includes names like the iShares S&P Global Clean Energy Index ETF (NASDAQ:ICLN) and the BlackRock Future Climate and Sustainable Economy ETF (NYSEARCA:BECO).
In related green energy news, environmentally friendly ETFs will remain in focus on Tuesday as the Americans across the nation will cast their ballots for the midterm elections.