The Global X Autonomous & Electric Vehicles ETF has continued to scale back its exposure to Chinese carmakers Nio and XPeng, extending a trend of multi-quarter reductions, according to regulatory filings and fund data published Wednesday.
In a new regulatory filing from Wednesday, the ETF disclosed that it held 872,143 shares of Nio as of May 31, down 8.8% from 956,061 shares three months earlier.
The position was further reduced to 859,311 shares in the last eight weeks, based on the ETF’s most recent holdings update.
The stake is currently valued at approximately $3.87 million.
This marks the third consecutive quarter of reductions in Nio holdings. The ETF had trimmed its position by 13.83% in the fourth quarter of 2024 and by 9.46% in the first quarter of 2025, as it unwinds from a peak of nearly 1.23 million shares held in August 2024.
Global X first disclosed a stake in Nio in a late 2020 filing, revealing a purchase of 30,357 shares.
The fund steadily built its position over the following years, with the biggest sale happening late last year when it offloaded 169,452 shares.
As of Thursday, Nio had 466 institutional shareholders holding a combined 231,083,029 shares.
XPeng has followed a similar trajectory. As of the end of May, the Global X ETF reported holding 286,409 shares, down 8.75% from 313,869 shares at the end of February.
It had previously reduced its XPeng stake by 13.83% late last year and 13.99% in the second quarter of 2024, marking a third straight quarterly decline.
The position stood at 282,165 shares as of Wednesday, worth approximately $5.01 million.
The fund first acquired XPeng shares in the quarter ending August 2021, with a stake of 343,643 shares. Over the last nine quarters, the ETF trimmed its stake in the Guangzhou-headquartered carmaker in eight of them.
As of Thursday, the carmaker had 264 institutional shareholders holding a combined 170,545,758 shares.
The Global X Autonomous & Electric Vehicles ETF, which tracks the Solactive Autonomous & Electric Vehicles Index, had $324 million in net assets and 74 holdings as of Wednesday.
It invests in companies involved in autonomous driving software and hardware, electric vehicle production, and key components such as lithium batteries and critical raw materials.
Its three largest holdings remain Nvidia, Microsoft, and Alphabet, with pure EV exposure concentrated in Tesla (approx. $7.4 million), XPeng ($5.01 million), and Nio ($3.87 million).
The ETF also holds multi-million dollar stakes in traditional and hybrid manufacturers such as Toyota, Ford, General Motors, Geely, and Kia.
Separately, the Avantis Emerging Markets Equity ETF (AVEM) disclosed on Wednesday that it extended its 21-quarter streak of accumulating Nio shares, marking its largest quarterly purchase to date in the second quarter of 2025.
