SMOG ETF Volume Surges as Tesla, Rivian Diverge

VanEck Low Carbon Energy ETF (SMOG) has seen unusual trading volume, which is 17× higher than its average daily volume.

Among its largest holdings, Tesla (TSLA) is in focus after Q1 2026 vehicle deliveries and energy storage deployments missed Wall Street forecasts, pressuring the stock even as analysts debate its long-term AI and robotaxi potential. Rivian (RIVN), a smaller but notable position in the fund, reported a 20% year-over-year increase in deliveries, beat analyst estimates, reaffirmed its full-year guidance, and secured a $1.25 billion investment and robotaxi partnership with Uber, developments that analysts say could modestly lift the shares and support its growth and autonomy strategy.