2025

NEE (NextEra Energy), DUK (Duke Energy), EXC (Exelon), SO (Southern Company), WEC (WEC Energy Group), XEL (Xcel Energy), EVRG (Evergy), D (Dominion Energy), POAHY (Porsche Automobil Holding SE), BHP (BHP Group), RIO (Rio Tinto), S32 (South32), VALE (Vale SA), CSIQ (Canadian Solar), MP (MP Materials), ALB (Albemarle), UMI (Umicore), LAZR (Luminar Technologies), VOW (Volkswagen), QCOM(Qualcomm), AES (AES Corp), AMD (Advanced Micro Devices), MU (Micron Technology), TCNNF (Trulieve), NVAX (Novavax), MRNA (Moderna), SQM (Sociedad Química y Minera), URG (Ur-Energy), EU (Encore Energy Corp Reg), CWEN (Clearway Energy), BKY (Berkeley Energia Ltd) may be exposed to high interest rates, strong dollar, inflation, tariffs, bond yields, fiscal policy, trade war, and consumer spending (based on industry trends and company characteristics).


1. MU (Micron Technology)


2. VALE (Vale SA)


3. AMD (Advanced Micro Devices)


4. AES (AES Corp)


5. QCOM (Qualcomm)


6. LAZR (Luminar Technologies)


7. SQM (Sociedad Química y Minera)


8. POAHY (Porsche Automobil Holding SE)


9. NVAX (Novavax)


10. RIO (Rio Tinto)


11. CSIQ (Canadian Solar)


12. MRNA (Moderna)


13. ALB (Albemarle)


14. URG (Ur-Energy)


15. EXC (Exelon)


16. NEE (NextEra Energy)


17. DUK (Duke Energy)


18. SO (Southern Company)


19. XEL (Xcel Energy)


20. WEC (WEC Energy Group)


21. EVRG (Evergy)


22. D (Dominion Energy)


23. EU (Encore Energy Corp Reg)


24. CWEN (Clearway Energy)


25. VOW (Volkswagen)


26. BHP (BHP Group)


27. TCNNF (Trulieve)


28. S32 (South32)


29. BKY (Berkeley Energia Ltd)


30. UMI (Umicore)


31. MP (MP Materials)


Exposure to High Interest Rates, Inflation, Strong Dollar

High Interest Rates (Financials, utilities, real estate, capital-intensive sectors)


POAHY (Porsche Automobil Holding SE)

Strong brand and affluent customer base provide a buffer against significant declines in demand due to higher rates. Steel production is highly sensitive to inflation, especially for raw materials and energy.


VOW (Volkswagen)

As an automaker, it has significant capital needs, and rising interest rates could affect car sales (which tend to be financed) and production costs. Volkswagen is a European-based carmaker, and a strong dollar could hurt its exports. Car manufacturers like Volkswagen face inflationary pressures on labor, materials, and energy.


MU (Micron Technology)

Capital-intensive and may face slower consumer demand but is supported by long-term tech growth trends.


AMD (Advanced Micro Devices)

Reliance on capital for growth, but its position in high-demand tech sectors helps mitigate the impact.


AES (AES Corp)

Capital-intensive but benefit from stable demand for essential services.


CSIQ (Canadian Solar)

Solar companies can be hit by rising financing costs for large projects, which are capital intensive. Solar energy equipment is often exported, so a strong dollar could hurt its competitiveness globally. Inflation can increase the costs of solar panel production and raw materials.


LAZR (Luminar Technologies)

As a tech company involved in autonomous driving, its growth is capital intensive and could be affected by high borrowing costs. Exports of autonomous technology could be negatively impacted by a strong dollar. Inflation may affect costs for materials and technology, which could impact margins.


MP (MP Materials)

As a rare earth materials supplier, it might see some pressure from rising interest rates. MP Materials is primarily U.S.-based, but its global customers could be impacted by a stronger dollar. Inflation could affect the cost of rare earth material production.


QCOM (Qualcomm)

High interest rates could increase borrowing costs, but its business model is less dependent on financing. Qualcomm has a global presence, and a strong dollar could make its products more expensive in foreign markets, reducing demand. Rising costs for components and raw materials could hurt margins, but Qualcomm can likely pass costs on.


ALB (Albemarle)

Similar to SQM, Albemarle is exposed to interest rates as a major player in the lithium market, but demand may remain strong. Albemarle's lithium exports could be hurt by a stronger dollar, affecting its international competitiveness. Inflation affects costs for lithium extraction and production.


VALE (Vale SA)

The mining sector is highly exposed due to the need for significant capital investment and sensitivity to global economic conditions.


BHP (BHP Group)

Mining companies like BHP are somewhat insulated, but rising rates could impact their financing costs for expansion projects. BHP's global operations mean that a strong dollar could make its products more expensive and reduce international demand. Inflation could raise costs for mining operations and materials.


RIO (Rio Tinto)

As a mining company, its costs could increase if borrowing costs rise, though commodities may still be in demand. As a global mining company, a strong dollar could reduce demand for its commodities, especially in non-dollar-denominated regions. Mining operations are sensitive to inflationary pressures on energy, labor, and materials.


NVAX (Novavax)

Pharmaceuticals are less sensitive to interest rates, but R&D and capital investments may feel some pressure. As a biotech company, Moderna might be less impacted by the strong dollar, but international revenues could be affected. Inflation can affect manufacturing costs, but demand for vaccines may be less price-sensitive.


EU (Encore Energy)

Capital-intensive mining sector and reliance on debt or equity to fund exploration and development. Rising costs in exploration, production, and labor can hurt margins.


URG (Ur-Energy)

Uranium mining can be capital intensive and sensitive to interest rate changes. As a domestic uranium miner, the strong dollar might not have much direct impact. Uranium mining is sensitive to inflation on labor and materials costs.


EXC (Exelon)

Utilities like Exelon are very sensitive to interest rates, as they rely heavily on debt financing. As a U.S.-focused utility, Exelon would be less exposed to currency fluctuations. Utilities like Exelon might face some inflationary pressures, but they can pass costs on to consumers.


DUK (Duke Energy)

Like other utilities, Duke Energy would feel the impact of higher financing costs. Duke Energy operates mainly in the U.S., so it’s less exposed to the strong dollar. Same as other utilities, more insulated from inflation but still impacted by rising operational costs.


SO (Southern Company)

Utilities are especially sensitive to interest rate hikes, which would increase the cost of debt and impact profitability. Like other utilities, Southern Company is U.S.-centric. Same as other utilities, more insulated from inflation but still impacted by rising operational costs.


XEL (Xcel Energy)

Utilities such as Xcel Energy typically have significant debt, making them vulnerable to rising interest rates. Xcel Energy is mostly a domestic player. Same as other utilities, more insulated from inflation but still impacted by rising operational costs.


WEC (WEC Energy Group)

As with other utilities, high interest rates would raise capital costs. WEC Energy Group operates primarily in the U.S. Same as other utilities, more insulated from inflation but still impacted by rising operational costs.


EVRG (Evergy)

Utilities, especially those like Evergy, which are capital-intensive, are sensitive to high interest rates. Evergy’s domestic operations reduce its exposure. Same as other utilities, more insulated from inflation but still impacted by rising operational costs.


NEE (NextEra Energy)

An utility company with significant debt exposure, making it sensitive to rising interest rates. NextEra Energy has limited exposure to a strong dollar due to its domestic focus. NextEra, as a utility, is more insulated from inflation but still impacted by rising operational costs.


D (Dominion Energy)

A utility with significant debt, Dominion Energy faces exposure to higher rates. Dominion Energy is a domestic utility. Same as other utilities, more insulated from inflation but still impacted by rising operational costs.


SQM (Sociedad Química y Minera)

It's a mining company, and while it is capital intensive, the demand for lithium might shield it from the worst effects. As a Chilean-based lithium producer, a strong dollar can make its products more expensive for foreign buyers, reducing demand. Inflation could raise the cost of mining and transportation for lithium, affecting margins.


CWEN (Clearway Energy)

Like other utilities, Clearway Energy would be sensitive to rising rates, especially as it finances large infrastructure projects. Clearway Energy has some international exposure but is mainly U.S.-focused. Energy infrastructure companies are exposed to inflation but can adjust pricing.


UMI (Umicore)

The long-term demand for green technology and materials could help offset the impact of higher borrowing costs. Inflation could affect the cost of production.


TCNNF (Trulieve)

The cannabis industry often relies on external funding, so high interest rates could hurt its profitability. Cannabis companies like Trulieve operate mostly in the U.S. market. Inflation may affect production costs in the cannabis sector.


S32 (South32)

Like other mining companies, high rates could impact capital spending. South32 is an Australian-based mining company, so a strong dollar could hurt international sales. South32's mining operations are sensitive to inflation in energy and labor costs.


BKY (Berkeley Energia Ltd)

As a development-stage mining company, it is particularly vulnerable to rising borrowing costs. Rising costs in energy, labor, and materials have a strong effect on operations.


MRNA (Moderna)

The biotech sector can sometimes be insulated from interest rate increases, although R&D funding might get costlier. Strong dollar might slightly impact its sales overseas, but global vaccine demand could buffer it. Inflationary pressures on production and raw materials may raise costs.

./ second opinion

Low Exposure: NVAX (Novavax), MRNA (Moderna), PAH3 (Porsche), VOW (Volkswagen), TCNNF (Trulieve). Moderate Exposure: EU (Encore), VALE (Vale), SQM (Sociedad Química y Minera), S32 (South32), UMI (Umicore), RIO (Rio Tinto), ALB (Albemarle), MP (MP Materials), BHP (BHP Group), BKY (Berkeley Energia), AMD (Advanced Micro Devices), D (Dominion Energy). High Exposure: NEE (NextEra Energy), SO (Southern Company), WEC (WEC Energy Group), XEL (Xcel Energy), EVRG (Evergy), DUK (Duke Energy), EXC (Exelon), URG (Ur-Energy), CWEN (Clearway Energy), AES (AES Corp.), QCOM (Qualcomm), MU (Micron Technology), LAZR (Luminar Technologies), CSIQ (Canadian Solar)

Low Exposure to High Interest Rates
Less sensitive to interest rate changes due to limited debt, capital-light operations, or business models that are less reliant on heavy financing.

NVAX (Novavax)Low Exposure

Novavax is a biotechnology company, and while they may rely on funding for R&D, their capital expenditures and debt loads are typically lower than those of industrial or infrastructure companies. The company's exposure to interest rates is limited, although it may still face indirect impacts from market sentiment.

MRNA (Moderna)Low Exposure

Moderna, like other biotech companies, generally has a relatively low level of debt. As a result, the impact of rising interest rates on financing costs is lower compared to industries that require significant capital expenditure.

PAH3 (Porsche)Low Exposure

Porsche, as a leading car manufacturer, has diversified its revenue sources and has strong cash flow. While financing costs can affect vehicle production and innovation, the company is relatively insulated from direct impacts of high interest rates due to its stable financial position.

VOW (Volkswagen)Low Exposure

Volkswagen, despite its size and capital needs, has a diversified business model and strong cash flow. While rising interest rates could impact its financing costs, the company is relatively insulated due to its large scale and financial stability.

TCNNF (Trulieve)Low Exposure

Trulieve is a cannabis company that, while capital-intensive, generally operates with lower debt than many other industries. Rising interest rates may increase its cost of financing, but it is not as exposed as highly leveraged sectors like utilities or mining.


Moderate Exposure to High Interest Rates
Somewhat affected by rising interest rates, but they have more resilient or diversified business models, lower debt loads, or less capital-intensive operations.

EU (Encore)Moderate Exposure

Encore is a small-cap mining company. While interest rates affect capital-intensive industries like mining, Encore's relatively smaller size and focus on exploration may provide some buffer from high debt burdens.

VALE (VALE)Moderate Exposure

VALE, a large mining company, operates in the natural resources sector, which is less capital intensive compared to energy and infrastructure projects. However, large mining projects do require significant financing, and higher rates can affect margins and investments.

SQM (Sociedad Química y Minera)Moderate Exposure

SQM is a major player in lithium and other minerals, which are in high demand. While interest rates do affect their financing, the company benefits from the strong growth in electric vehicle production and battery storage, which can offset some of the negative impacts of higher rates.

S32 (South32)Moderate Exposure

South32 is a mining company with a diversified portfolio of assets. While sensitive to interest rates, its relatively large and diversified operations mitigate some of the risks associated with rising borrowing costs.

UMI (Umicore)Moderate Exposure

Umicore is a leader in materials technology, focusing on batteries and recycling. Although interest rates can affect their cost of capital, the growing demand for electric vehicle batteries and clean energy helps balance the pressure from higher financing costs.

RIO (Rio Tinto)Moderate Exposure

Rio Tinto is a major mining company with substantial cash flow and a diversified portfolio. While higher rates do impact their financing, their large-scale operations and stable revenue generation provide a cushion against interest rate rises.

ALB (Albemarle)Moderate Exposure

Albemarle is a leading player in lithium production. While its debt exposure could be higher due to the capital-intensive nature of the industry, the strong demand for lithium should help mitigate the impact of rising rates.

MP (MP Materials)Moderate Exposure

MP Materials, involved in rare earth mining, is capital-intensive, but its debt load is less significant than many energy and utility companies. However, its future growth may be hampered if high interest rates make it harder to finance new mining projects.

BHP (BHP Group)Moderate Exposure

BHP, one of the largest mining companies, is relatively resilient to interest rate hikes due to its strong cash flow and diversified operations. However, higher interest rates can still impact capital spending, especially for expansion in more capital-intensive projects.

BKY (Berkeley Energia)Moderate Exposure

Berkeley Energia is a mining company that is capital-intensive, but its debt load is lower compared to utilities. Rising interest rates could affect their ability to raise funds for expansion, but the impact may not be as significant as for highly leveraged companies.

AMD (Advanced Micro Devices)Moderate Exposure

AMD is a semiconductor company, and while it has capital expenditures, the company is less reliant on debt than many other capital-intensive industries like utilities or energy. Still, rising rates could slow down R&D investments and expansions in the tech sector.

D (Dominion Energy)Moderate Exposure

Dominion Energy, while a utility, has a diversified energy portfolio and is less leveraged compared to other utilities. However, it still has a significant amount of debt, which makes it moderately sensitive to rising interest rates.


High Exposure to High Interest Rates
These companies are likely to face significant pressure from rising interest rates due to heavy capital spending, debt, or sensitivity to financing costs.

URG (Ur-Energy)High Exposure

Small cap mining companies like Ur-Energy are highly sensitive to rising interest rates, as they tend to carry significant debt, especially in capital-intensive industries like uranium mining. Rising rates increase borrowing costs, which can delay expansion or limit operations.

CWEN (Clearway Energy)High Exposure

Clearway is a renewable energy company, often with significant debt on its balance sheet due to long-term infrastructure projects (e.g., wind and solar farms). High interest rates increase the cost of financing, which can slow down project development.

AES (AES)High Exposure

AES is a utility company, which tends to have high capital expenditures and long-term debt. With interest rates rising, their cost of capital increases, making financing for infrastructure projects more expensive and potentially impacting profitability.

QCOM (Qualcomm)High Exposure

Qualcomm is a technology company with a relatively high debt load for its sector, as it invests in R&D and expansion. Rising rates could increase borrowing costs, limiting their ability to scale and invest aggressively in growth initiatives.

MU (Micron)High Exposure

As a semiconductor company, Micron has large capital expenditures related to building and expanding manufacturing plants. Interest rates have a strong impact on their cost of capital and could lead to delays or a scaling back of investment plans.

LAZR (Luminar Technologies)High Exposure

Luminar is a tech company involved in autonomous vehicle sensors. As a high-growth, capital-intensive company, its reliance on external financing and the ability to secure funding at favorable rates makes it highly sensitive to interest rate increases.

CSIQ (Canadian Solar)High Exposure

Canadian Solar operates in the solar energy sector, which is capital-intensive. High interest rates make it more expensive to finance new projects and could slow down expansion plans.

NEE (NextEra Energy)High Exposure

NextEra Energy is a major player in renewable energy with large capital expenditures for wind and solar energy projects. It typically relies on debt to finance these projects, so rising interest rates increase the cost of capital, which can negatively affect profitability and growth.

SO (Southern Company)High Exposure

Southern Company is a utility that also invests heavily in infrastructure and long-term energy projects. It carries substantial debt, which makes it particularly sensitive to rising interest rates. Higher borrowing costs can delay projects and reduce profitability.

WEC (WEC Energy)High Exposure

WEC Energy is another utility company that relies on capital-intensive infrastructure projects. Similar to Southern Company, its exposure to rising interest rates is significant because of its debt load and long-term capital projects.

XEL (Xcel Energy)High Exposure

XCEL Energy operates in the utility sector, with substantial investments in energy infrastructure. As with other utilities, rising interest rates impact financing costs, making future investments more expensive and reducing profit margins.

EVRG (Evergy)High Exposure

Evergy is a utility that also faces significant capital needs to fund energy infrastructure. Higher rates mean higher borrowing costs, which can slow down expansion or increase costs in the long term.

DUK (Duke Energy)High Exposure

Duke Energy has significant debt due to its large infrastructure projects and capital expenditures in the energy sector. Rising interest rates would increase its borrowing costs, thus impacting long-term growth and potentially increasing its cost structure.

EXC (Exelon)High Exposure

Exelon, like other utility companies, requires heavy investment in infrastructure, making it reliant on debt financing. Rising interest rates increase the cost of capital, which can hurt earnings and delay growth projects.

./ second opinion

Low Exposure: TCNNF (Trulieve), NVAX (Novavax), MRNA (Moderna) Moderate Exposure: UMI (Umicore), S32 (South32), MP (MP Materials), BKY (Berkeley Energia), CSIQ (Canadian Solar), VOW (Volkswagen) High Exposure: SQM (Sociedad Química y Minera), RIO (Rio Tinto), ALB (Albemarle), BHP (BHP Group), PAH3 (Porsche), QCOM (Qualcomm), LAZR (Luminar), EXC (Exelon), NEE (NextEra Energy), DUK (Duke Energy), SO (Southern Co), XEL (Xcel Energy), WEC (WEC Energy), EVRG (Evergy)

Low Exposure to a Strong Dollar
Minimal international revenue or are largely insulated from the effects of currency fluctuations.

TCNNF (Trulieve)Low Exposure

Trulieve operates primarily in the U.S., with limited international exposure. A strong dollar has minimal impact on its revenue and costs since it is largely focused on the domestic market.

NVAX (Novavax)Low Exposure

Novavax, while a biotech company, operates mostly in the U.S. and has limited international revenue compared to larger pharma companies. A strong dollar is unlikely to have a significant impact on its overall financial performance.

MRNA (Moderna)Low Exposure

Moderna is heavily U.S.-focused for its revenue, though it has some international sales (e.g., vaccine distribution). However, its overall exposure to the strong dollar is less than global pharma companies with more extensive international sales.


Moderate Exposure to a Strong Dollar
Some international revenue or costs, but their overall exposure to a strong dollar is more limited.

UMI (Umicore)Moderate Exposure

Umicore is a materials technology company with some international sales, especially in battery and recycling technologies. A strong U.S. dollar could make its products more expensive abroad, reducing demand in some regions.

S32 (South32)Moderate Exposure

South32 is a global mining company, with some sales in the U.S. but mostly in emerging markets. A strong dollar may affect the company’s revenues, but the global nature of its business and commodity pricing reduces the overall sensitivity to currency swings.

MP (MP Materials)Moderate Exposure

MP Materials, a rare earth miner, operates in a global market. While it does have exposure to international revenue, the strong demand for rare earth materials helps to offset some of the effects of a stronger dollar. However, fluctuations in currency can still affect profitability.

BKY (Berkeley Energia)Moderate Exposure

Berkeley Energia operates mainly in Spain, with some exposure to the U.S. dollar. A strong dollar could hurt the value of its revenue when converted to USD, but its relatively small size and market focus limit exposure.

CSIQ (Canadian Solar)Moderate Exposure

Canadian Solar has a significant international presence, especially in the renewable energy sector. However, it is somewhat insulated from the strong dollar due to the growing demand for solar energy and projects in both developed and emerging markets. The company's foreign revenue does expose it to currency fluctuations, but it is less affected compared to mining companies like Rio Tinto or Albemarle.

VOW (Volkswagen)Moderate Exposure

Volkswagen is a global automaker with a large share of revenue coming from outside of the U.S. markets. While the strong dollar can hurt foreign earnings when converted back to USD, the company’s substantial presence in Europe and China helps mitigate some of the negative impacts. Additionally, the high volume of its production and sales helps spread the currency risk across various markets.


High Exposure to a Strong Dollar
Substantial international revenue, making them sensitive to currency fluctuations.

PAH3 (Porsche)High Exposure

Porsche is a global automaker, with a significant portion of its sales coming from international markets. A strong U.S. dollar would reduce the value of foreign revenues when converted to USD and may hurt international sales, especially in emerging markets.

QCOM (Qualcomm)High Exposure

Qualcomm derives a substantial portion of its revenue from international markets, particularly in Asia. A strong dollar reduces the value of international earnings when they are converted back to USD, and it also makes Qualcomm's products more expensive in foreign markets.

LAZR (Luminar Technologies)High Exposure

Luminar is a global player in the autonomous vehicle sensor market. A stronger dollar can negatively affect its overseas sales and make its products more expensive in foreign markets, thereby reducing demand.

EXC (Exelon)High Exposure

Exelon, a utility with some international investments, may experience currency headwinds if it has significant revenue from outside the U.S. Rising dollar strength could hurt the translation of foreign earnings into U.S. dollars.

NEE (NextEra Energy)High Exposure

NextEra Energy has some exposure to international markets, particularly in renewable energy projects. A strong dollar could hurt its international revenue and projects, especially when converting foreign revenues back to U.S. dollars.

DUK (Duke Energy)High Exposure

Duke Energy, like other utilities with international operations, could face challenges from a strong dollar. It has some exposure to foreign markets, particularly in Latin America, and a stronger dollar may reduce the value of earnings from those markets.

SO (Southern Company)High Exposure

Southern Company has international operations, particularly in energy projects. A strong dollar could negatively affect its foreign revenue and the value of international contracts when converted to U.S. dollars.

XEL (Xcel Energy)High Exposure

Xcel Energy, while primarily U.S.-focused, does have some global operations in renewable energy. A strong dollar could reduce the value of international projects and investments in foreign markets.

WEC (WEC Energy)High Exposure

WEC has some international presence, particularly in renewable energy, which may expose it to foreign exchange risks. A stronger dollar could affect the translation of earnings from international markets and potentially reduce international project returns.

EVRG (Evergy)High Exposure

Evergy has some international energy ventures. Like other utilities, a strong dollar can reduce the value of international earnings and hurt the company’s growth if foreign energy investments are impacted by a stronger USD.

SQM (Sociedad Química y Minera)High Exposure

SQM is a major player in the global mining and lithium production market, with a significant portion of its revenue coming from outside the U.S., particularly in emerging markets. A strong dollar makes its products more expensive for customers in foreign countries and reduces the value of foreign revenues when converted to USD.

RIO (Rio Tinto)High Exposure

Rio Tinto is a major global mining company, and while it operates in multiple markets (primarily in commodities), it generates substantial revenue from regions outside the U.S., including Australia and Europe. A strong dollar lowers the value of foreign revenue when converted to USD and may negatively affect international pricing.

ALB (Albemarle)High Exposure

Albemarle is a leader in lithium production, with a significant global presence, especially in China and other international markets. A stronger U.S. dollar would likely reduce the value of international sales and make their products more expensive in foreign markets, potentially lowering demand.

BHP (BHP Group)High Exposure

BHP, one of the largest mining companies globally, has substantial revenue from international markets. A strong U.S. dollar will reduce the value of its foreign revenues when converted to USD, potentially hurting profitability. BHP’s mining operations in Australia and other regions make it sensitive to fluctuations in exchange rates.

./ second opinion

Low Exposure: NVAX (Novavax), MRNA (Moderna), CSIQ (Canadian Solar) Moderate Exposure: PAH3 (Porsche), VOW (Volkswagen), LAZR (Luminar Technologies), TCNNF (Trulieve) High Exposure: SQM (Sociedad Química y Minera), RIO (Rio Tinto), ALB (Albemarle), EU (Encore Energy), URG (Ur-Energy), BHP (BHP Group), S32 (South32), UMI (Umicore), MP (MP Materials), BKY (Berkeley Energia), QCOM (Qualcomm), EXC (Exelon), NEE (NextEra Energy), DUK (Duke Energy), SO (Southern Company), XEL (Xcel Energy), WEC (WEC Energy Group), EVRG (Evergy), D (Dominion Energy)

Low Exposure to High Inflation
These companies are less affected by inflation due to less sensitivity to raw material costs, strong pricing power, or the nature of their business models.

NVAX (Novavax)Low Exposure

Novavax, a biotech company, may experience inflationary pressures on raw materials and labor in drug production. However, it has more pricing power compared to industries reliant on raw materials like metals or energy. The demand for vaccines and other healthcare products remains inelastic, giving the company more flexibility to adjust prices in response to inflation.

MRNA (Moderna)Low Exposure

Moderna, like Novavax, operates in the biotech sector, which is less exposed to inflationary pressures compared to capital-intensive industries like energy and manufacturing. The company can increase the price of vaccines in response to inflationary pressures. However, it may face some cost increases in production and logistics, but its ability to pass on costs is relatively strong due to the ongoing global demand for vaccines.

CSIQ (Canadian Solar)Low Exposure

Canadian Solar, a renewable energy company, is exposed to inflation in raw materials and labor costs for solar panel production. However, renewable energy markets are growing rapidly, which helps mitigate inflationary impacts. While rising material costs (e.g., silicon) could reduce margins, increasing demand for solar energy provides Canadian Solar with pricing power to offset some of these inflationary pressures.


Moderate Exposure to High Inflation
Some exposure to inflation but can manage cost increases through pricing power, operational efficiency, or less dependency on raw materials and labor costs.

PAH3 (Porsche)Moderate Exposure

Porsche, as a luxury car manufacturer, faces inflation in raw materials (like metals and electronics), labor, and logistics. However, its pricing power in the luxury market allows it to pass on some of these increased costs to consumers, mitigating the impact of inflation. Additionally, Porsche's cost structure may be more resilient compared to mass-market car manufacturers.

VOW (Volkswagen)Moderate Exposure

Volkswagen, a large global automaker, also faces inflationary pressures on materials, labor, and supply chains. However, its diverse product lineup and large economies of scale help offset some inflationary pressures. It also has some pricing power, especially in higher-margin segments, but mass production may limit its ability to fully pass on costs.

LAZR (Luminar Technologies)Moderate Exposure

Luminar Technologies, which specializes in lidar sensors for autonomous vehicles, is somewhat insulated from high inflation because its production costs are lower compared to industries that require raw materials like metals or energy. However, it still faces inflation in labor and some components, though its relatively niche market provides it with pricing flexibility.

TCNNF (Trulieve)Moderate Exposure

Trulieve, a leader in the U.S. cannabis sector, faces inflationary pressures mainly in cultivation costs (labor, materials, energy) and transportation. However, as cannabis demand remains strong, the company has some ability to pass on inflationary costs to consumers, though regulatory challenges in pricing and taxation may limit this flexibility.


High Exposure to High Inflation
Vulnerable to inflation due to high reliance on raw materials, labor, or energy costs. They may struggle with margin pressures or rising operational costs in a high-inflation environment.

SQM (Sociedad Química y Minera)High Exposure

SQM, a major player in the mining industry, especially in lithium and other minerals, faces significant inflationary pressures on raw materials and labor. Lithium, a key input for electric vehicle batteries, is seeing rising demand, but inflation in mining-related costs (e.g., labor, energy, chemicals) could lead to higher production costs. Additionally, the company's operations are highly capital-intensive, which makes it vulnerable to rising costs for equipment, labor, and energy.

RIO (Rio Tinto)High Exposure

Rio Tinto is a global leader in mining, with exposure to inflation due to the costs of raw materials, labor, and energy needed for its mining operations. Inflation in input costs (e.g., metals, fuel, labor) could significantly raise operational costs. Additionally, the mining sector faces logistical challenges (transportation and equipment costs) that are sensitive to inflation, which could squeeze profit margins.

ALB (Albemarle)High Exposure

Albemarle, a key player in lithium production for electric vehicle batteries, is highly exposed to inflation. The rising demand for lithium and other chemicals used in batteries increases its raw material and operational costs. The company is also affected by inflation in energy and labor costs, which could reduce profitability unless it can pass on these costs through higher prices for its products.

EU (Encore Energy)High Exposure

Encore Energy is involved in uranium mining, an industry that requires significant energy input for extraction and processing. The rising costs of energy, labor, and materials impact the mining process directly, making this company vulnerable to inflation. Additionally, uranium production is capital-intensive, and inflation can push up the cost of equipment, transportation, and maintenance.

URG (Ur-Energy)High Exposure

Ur-Energy is another uranium miner, and it faces similar inflationary pressures to Encore Energy. Rising costs for labor, energy, and materials are major concerns for uranium mining companies, especially during periods of high inflation. The capital-intensive nature of the mining industry and long development cycles for new projects make Ur-Energy particularly vulnerable to higher costs.

BHP (BHP Group)High Exposure

Explanation: BHP, one of the world’s largest mining companies, faces inflationary pressures on raw materials (e.g., metals), energy, and labor. The company is involved in extracting a variety of resources like copper, iron ore, and coal, all of which are sensitive to rising commodity prices. Additionally, inflation in global logistics and equipment costs can significantly impact BHP’s cost structure.

S32 (South32)High Exposure

South32, a global mining and metals company, is highly exposed to inflation due to its reliance on mining commodities, including aluminum, coal, and manganese. Inflation in energy and raw material costs, as well as labor inflation, can significantly increase production costs. Furthermore, the capital-intensive nature of the mining business leaves the company vulnerable to inflationary pressures on investment and equipment.

UMI (Umicore)High Exposure

Umicore is a global leader in the recycling of precious metals and production of materials for batteries and catalytic converters. The company faces inflationary pressures on the cost of raw materials, such as precious metals and chemicals, as well as rising labor and energy costs. These materials are highly sensitive to inflation, and any spike in their prices will significantly impact Umicore’s production costs.

MP (MP Materials)High Exposure

MP Materials is a leading producer of rare earth materials used in technology and defense. The mining and processing of rare earth materials are highly energy-intensive and subject to inflationary pressures. The costs of labor, energy, and equipment are sensitive to inflation, and these costs can rise sharply during periods of high inflation. Additionally, rare earth supply chains are vulnerable to inflation in shipping and logistics.

BKY (Berkeley Energia)High Exposure

Berkeley Energia is focused on uranium mining, and like other mining companies, it faces inflationary pressures from labor, energy, and materials costs. The mining process is capital-intensive, and inflation in global commodities and equipment prices could significantly impact its profitability. Additionally, rising transportation costs for raw materials could affect overall cost structure.

QCOM (Qualcomm)High Exposure

Qualcomm, a semiconductor company, is highly sensitive to inflation in raw materials like silicon and metals, as well as labor and logistics costs. While the tech industry can sometimes offset these pressures by increasing prices, the competitive nature of the semiconductor market can make it difficult to pass all costs on to customers, affecting margins.

EXC (Exelon)High Exposure

Exelon, a utility company, faces rising costs in fuel, labor, and materials, which could negatively affect margins. Utilities like Exelon may have some ability to pass on costs through rate increases, but inflation in construction and maintenance costs for energy infrastructure, as well as potential delays in regulatory approvals, may lead to margin compression.

NEE (NextEra Energy)High Exposure

NextEra Energy is heavily involved in renewable energy projects, which require significant capital investment in infrastructure and technology. Inflationary pressures on construction materials, labor, and the cost of equipment like wind turbines and solar panels could increase capital and operating expenditures, thereby squeezing margins.

DUK (Duke Energy)High Exposure

Duke Energy is another utility company with significant exposure to inflation in raw materials, labor, and energy production costs. While it can generally pass some costs to consumers through rate hikes, the delay in regulatory approval and high capital expenditure for infrastructure projects can hurt profitability during inflationary periods.

SO (Southern Company)High Exposure

Southern Company is a major player in the utility sector, and like other utilities, it is sensitive to inflationary pressures, particularly in fuel costs and infrastructure development. Rising costs for power generation (especially fossil fuels) and for maintaining or upgrading infrastructure could lead to higher operating costs and reduced profitability if rate hikes cannot keep pace with inflation.

XEL (Xcel Energy)High Exposure

XCEL Energy, similar to other utilities, faces inflationary pressures from rising costs for fuel (e.g., natural gas), labor, and capital expenditures for infrastructure. Inflation may be somewhat mitigated by regulatory mechanisms that allow for rate hikes, but the company’s ability to pass on those costs may be slower than the speed of inflation.

WEC (WEC Energy Group)High Exposure

WEC Energy Group, another utility, faces inflation in energy production costs, including higher prices for labor, fuel, and materials. Like other utilities, it may pass some of these costs to consumers, but inflation can still exert pressure on profit margins, particularly if energy prices spike and regulatory rate hikes are slow.

EVRG (Evergy)High Exposure

Evergy is a utility company that may experience margin pressures from inflation in fuel prices, labor, and capital spending for infrastructure. Utilities are sometimes slow to adjust rates, and inflation in operating costs could outpace the company’s ability to pass those costs on to customers, affecting profitability.

D (Dominion Energy)High Exposure

Dominion Energy is exposed to inflationary pressures in labor, materials, and energy costs, especially for maintaining and expanding its infrastructure. Inflation may increase costs related to the development of new energy projects, and rising costs for fuel can affect margins in the short term, even with some ability to adjust rates.

Exposure to Tariffs, Bond Yields, Fiscal Policy


1. LAZR (Luminar Technologies)


2. SQM (Sociedad Química y Minera)


3. RIO (Rio Tinto)


4. BHP (BHP Group)


5. TCNNF (Trulieve)


6. S32 (South32)


7. BKY (Berkeley Energia Ltd)


8. UMI (Umicore)


9. URG (Ur-Energy)


10. CSIQ (Canadian Solar)


11. MP (MP Materials)


12. NVAX (Novavax)


13. MRNA (Moderna)


14. ALB (Albemarle)


15. MU (Micron Technology)


16. QCOM (Qualcomm)


17. POAHY (Porsche Automobil Holding SE)


18. VOW (Volkswagen)


19. NEE (NextEra Energy)


20. EXC (Exelon)


21. DUK (Duke Energy)


22. SO (Southern Company)


23. WEC (WEC Energy Group)


24. XEL (Xcel Energy)


25. EVRG (Evergy)


26. CWEN (Clearway Energy)


27. EU (Encore Energy Corp Reg)


28. D (Dominion Energy)


29. S32 (South32)

Exposure to Tariffs


LOW


MP (MP Materials) Primarily a domestic materials play, less affected by tariffs.

NVAX (Novavax) Biotech firm with limited international trade exposure.

ALB (Albemarle) Chemical production, relatively insulated from tariff impacts.


MODERATE


MU (Micron Technology) Semiconductors are highly global and vulnerable to trade restrictions.

CSIQ (Canadian Solar) Solar panels rely on global supply chains, impacted by tariffs.

SQM (Sociedad Química y Minera) Global demand for lithium and chemicals exposed to tariffs.

VOW (Volkswagen) Auto industry is highly exposed to global trade, including tariffs.

BHP (BHP Group) Mining sector is affected by tariffs on metals and global supply chains.

POAHY (Porsche Automobil Holding SE) Affected by tariffs on imported vehicles.


HIGH


VALE (Vale SA) Large global mining company, significantly exposed to tariffs in steel.

RIO (Rio Tinto) Global mining and metals, heavily impacted by international tariffs.

QCOM (Qualcomm) Semiconductors and tech are highly exposed to global trade policy and tariffs.

AMD (Advanced Micro Devices) Strong international presence in semiconductors, highly exposed to tariffs.

Exposure to Fiscal Policy


LOW


MP (MP Materials) Little impact from fiscal policy as it’s more influenced by global demand.

NVAX (Novavax) Less dependent on fiscal policy, more on biotech-specific regulations.

CSIQ (Canadian Solar) Solar industry is mostly market-driven, less dependent on government spending.

VOW (Volkswagen) Auto industry may benefit from fiscal policies but generally less exposed.

ALB (Albemarle) The chemical industry is typically not heavily impacted by fiscal policy changes.

MU (Micron Technology) Micron’s exposure to fiscal policy is limited, mainly influenced by tech demand.

QCOM (Qualcomm) Moderate sensitivity to government policies, mainly in terms of trade and regulation.


MODERATE


POAHY (Porsche Automobil Holding SE) Exposed to fiscal policy changes through potential subsidies or regulation in autos.

BHP (BHP Group) Mining and natural resources can be impacted by fiscal policies on infrastructure and demand.

RIO (Rio Tinto)

Similar to BHP, affected by government spending on infrastructure and regulation.

VALE (Vale SA) Global mining exposure can lead to some fiscal policy impact through demand shifts.

SO (Southern Company) Strong exposure to fiscal policy via energy subsidies, regulation, and infrastructure spending.

DUK (Duke Energy) Similar to Southern, impacted by energy policy and regulation.

EXC (Exelon) Utilities benefit from government policies on energy and infrastructure development.

WEC (WEC Energy Group) Moderate exposure to fiscal policies and government energy programs.

NEE (NextEra Energy) Strong clean energy focus, impacted by fiscal policy shifts, subsidies, and tax incentives.

XEL (Xcel Energy) Sensitive to energy policies and fiscal decisions regarding infrastructure.

EVRG (Evergy) Affected by energy-focused fiscal policies and spending.

D (Dominion Energy) Similar exposure to fiscal policy as other utilities, especially infrastructure funding.

CWEN (Clearway Energy) Exposed to fiscal policies on clean energy and renewable subsidies.


HIGH


URG (Ur-Energy) Strong exposure to fiscal policy as uranium and energy sectors are highly regulated.

S32 (South32) Mining sector highly sensitive to fiscal policy, especially around infrastructure projects.

BKY (Berkeley Energia Ltd) Mining firms often highly impacted by fiscal policy regarding subsidies and taxes.

UMI (Umicore) Materials and energy sectors are deeply influenced by government policy, subsidies, and tax incentives.

AES (AES Corp.) Heavy exposure to fiscal policy, especially in energy infrastructure development.

LAZR (Luminar Technologies) High exposure to fiscal policy through autonomous vehicle incentives and tech regulation.

Exposure to Bond Yields


LOW


TCNNF (Trulieve)

Cannabis sector is less sensitive to interest rate movements.

NVAX (Novavax)

Biotech stocks are typically less influenced by bond yields.

MP (MP Materials)

Materials sector has limited direct exposure to bond yields.

CSIQ (Canadian Solar)

Solar sector has lower sensitivity to interest rates compared to traditional utilities.

VOW (Volkswagen)

Auto industry is not very bond-yield sensitive.

ALB (Albemarle)

Chemicals sector typically less affected by interest rate changes.


MODERATE


MU (Micron Technology)

Semiconductor companies are somewhat sensitive to interest rates, especially for CAPEX.

QCOM (Qualcomm)

Moderate bond yield sensitivity due to capital expenditures and tech investments.

POAHY (Porsche Automobil Holding SE)

Moderate exposure to bond yields due to automotive sector debt.

SO (Southern Company)

Utilities sector has moderate sensitivity due to debt financing and dividend yields.

DUK (Duke Energy)

Similar to SO, utilities are affected by interest rates due to heavy debt reliance.

EXC (Exelon)

Moderate bond yield exposure due to infrastructure and financing needs.

WEC (WEC Energy Group)

Utilities generally sensitive to bond yield changes.

NEE (NextEra Energy)

Strong utility, but more exposed to bond yields due to clean energy infrastructure.

XEL (Xcel Energy)

Utilities sector with moderate sensitivity to bond yield changes.

EVRG (Evergy)

Utilities are moderately exposed to bond yield shifts.

D (Dominion Energy)

Utility company, sensitive to bond yields as it finances large infrastructure projects.

CWEN (Clearway Energy)

Energy and infrastructure plays, impacted by bond yield changes.


HIGH


URG (Ur-Energy)

Highly exposed to bond yields due to financing in a capital-intensive sector.

S32 (South32)

Mining sector is capital-intensive, so bond yield changes affect financing.

BHP (BHP Group)

Significant exposure to bond yields due to large-scale mining and infrastructure needs.

RIO (Rio Tinto)

Large mining operations highly impacted by interest rate changes.

BKY (Berkeley Energia Ltd)

Capital-intensive mining sector, affected by bond yield fluctuations.

UMI (Umicore)

Highly dependent on bond markets for capital, particularly in materials and mining.

AES (AES Corp.)

Utilities heavily affected by bond yields due to large debt and infrastructure costs.

LAZR (Luminar Technologies)

Tech infrastructure requires financing, making it sensitive to bond yield changes.

Exposed to Trade War


LOW


MP (MP Materials) Primarily a raw materials producer, less affected by trade wars.

NVAX (Novavax) Biotech stocks generally have less direct exposure to trade tensions.

LAZR (Luminar Technologies) Technology firm, but focused on specific tech areas that are less affected by trade wars.

URG (Ur-Energy) Uranium mining sector has minimal exposure to trade wars.

ALB (Albemarle) Chemicals industry is not typically directly affected by trade war tariffs.

AES (AES Corp.) Utilities sector has minimal exposure to trade conflicts.


MODERATE


CSIQ (Canadian Solar) Solar energy components are globally traded, making it somewhat sensitive to trade tensions.

EXC (Exelon) Energy sector can be affected by trade wars, though less directly.

VOW (Volkswagen) Auto industry is exposed to trade war impacts, particularly tariffs on vehicles.

POAHY (Porsche Automobil Holding SE) Similar to Volkswagen, exposed to global trade dynamics.

RIO (Rio Tinto) Mining and metals sector is somewhat exposed to trade tariffs and restrictions.

BHP (BHP Group) Mining and global supply chains are vulnerable to trade wars.


HIGH


QCOM (Qualcomm) Highly exposed to trade tensions, especially with China due to semiconductor manufacturing.

VALE (Vale SA) Mining and metals sector, especially iron ore, is vulnerable to trade disputes and tariffs.

AMD (Advanced Micro Devices) Like Qualcomm, deeply exposed to trade wars, especially in semiconductor exports.

MU (Micron Technology) Semiconductors are highly vulnerable to global trade conflicts and tariffs.

Exposed to Consumer Spending


LOW


MP (MP Materials) Materials producer with limited direct ties to consumer spending.

NVAX (Novavax) Biotech company, demand more dependent on healthcare needs rather than consumer behavior.

URG (Ur-Energy) Mining sector has very little exposure to changes in consumer spending.

EXC (Exelon) Utilities, essential services, typically not very sensitive to consumer spending.

NEE (NextEra Energy) Similar to Exelon, energy demand is less dependent on consumer spending levels.

DUK (Duke Energy) Energy consumption is relatively stable, unaffected by consumer spending shifts.

SO (Southern Company) Energy sector with limited reliance on consumer discretionary spending.

XEL (Xcel Energy) Utilities sector not directly impacted by consumer spending patterns.

WEC (WEC Energy Group) Utility company, minimal impact from changes in consumer spending.

EVRG (Evergy) Utilities sector with low consumer spending sensitivity.

CWEN (Clearway Energy) Renewable energy and infrastructure not directly impacted by consumer behavior.

TCNNF (Trulieve) Cannabis sector could be slightly affected by economic conditions, but still more driven by regulatory factors than consumer spending.


MODERATE


S32 (South32) Mining company with some exposure to consumer demand via industrial sectors.

BHP (BHP Group) Mining sector, indirectly influenced by consumer demand in various industries.

RIO (Rio Tinto) Like BHP, exposure is more indirect through industrial demand, not directly consumer-driven.

POAHY (Porsche Automobil Holding SE) Exposed to changes in consumer spending, particularly for high-end cars.

VOW (Volkswagen) Auto industry, moderately affected by consumer purchasing decisions.

ALB (Albemarle) Chemicals and materials company, somewhat tied to consumer goods production and demand.

CSIQ (Canadian Solar) Solar panels and renewable energy are sensitive to both governmental policies and consumer demand.

QCOM (Qualcomm) Consumer electronics are a key market for Qualcomm's products, so spending trends do matter.

LAZR (Luminar Technologies) Automotive and autonomous vehicle industry is tied to consumer demand for cars and technology.

AES (AES Corp.) While utilities are less affected by consumer spending, demand for energy can still be influenced by broader economic conditions.


HIGH


MU (Micron Technology) Consumer electronics (smartphones, PCs, etc.) are key markets for Micron, making it highly exposed to consumer spending trends.

AMD (Advanced Micro Devices) Similar to Micron, highly tied to consumer electronics and gaming markets, which fluctuate with consumer spending.

ALB (Albemarle) Chemicals used in consumer products, like batteries, have high sensitivity to consumer demand and economic cycles.

QCOM (Qualcomm) Highly exposed to consumer spending trends, particularly in smartphones and IoT devices.

./ second opinion

Low Exposure: POAHY (Porsche Automobil Holding SE), MRNA (Moderna), CWEN (Clearway Energy) Moderate Exposure: AES (AES Corp.), LAZR (Luminar Technologies), NVAX (Novavax), EXC (Exelon), NEE (NextEra Energy), DUK (Duke Energy), SO (Southern Company), XEL (Xcel Energy), WEC (WEC Energy Group) High Exposure: MU (Micron Technology), VALE (Vale SA), AMD (Advanced Micro Devices), QCOM (Qualcomm), SQM (Sociedad Química y Minera), VOW (Volkswagen), BHP (BHP Group), MP (MP Materials), UMI (Umicore)

Low Exposure to Tariffs:

These companies operate in industries that are relatively insulated from tariff changes due to the nature of their businesses or local market focus.


Moderate Exposure to Tariffs:

These companies have some exposure to international trade but either have more diversified markets or can mitigate the impact of tariffs to some extent.


High Exposure to Tariffs:

These companies have significant international trade activity, either through manufacturing, sales, or raw material sourcing, and therefore face a higher risk of being impacted by tariffs.

./ second opinion

Low Exposure: MU (Micron Technology), VALE (Vale SA), BHP (BHP Group) Moderate Exposure: QCOM (Qualcomm), LAZR (Luminar Technologies), SQM (Sociedad Química y Minera), POAHY (Porsche), MRNA (Moderna), RIO (Rio Tinto), ALB (Albemarle), VOW (Volkswagen), S32 (South32), TCNNF (Trulieve) High Exposure: AES (AES Corp.), EXC (Exelon), NEE (NextEra Energy), DUK (Duke Energy), SO (Southern Company), XEL (Xcel Energy), WEC (WEC Energy Group), EVRG (Evergy), D (Dominion Energy), CWEN (Clearway Energy)

Low Exposure to Bond Yields:

These companies are less likely to be directly affected by bond yields, as they do not have significant debt or capital-intensive business models.


Moderate Exposure to Bond Yields:

These companies are less directly affected by bond yields than utilities, but they are still impacted to some degree by changes in financing conditions, especially if they are capital-intensive or have large debt obligations.


High Exposure to Bond Yields:

These companies are highly exposed to changes in bond yields, typically due to their reliance on debt or being part of capital-intensive industries.

./ second opinion

Low Exposure: POAHY (Porsche), NVAX (Novavax), BHP (BHP Group) Moderate Exposure: MU (Micron Technology), VALE (Vale SA), AMD (Advanced Micro Devices), QCOM (Qualcomm), SQM (Sociedad Química y Minera), MRNA (Moderna), ALB (Albemarle), RIO (Rio Tinto), MP (MP Materials) High Exposure: AES (AES Corp.), EXC (Exelon), NEE (NextEra Energy), DUK (Duke Energy), SO (Southern Company), XEL (Xcel Energy), WEC (WEC Energy Group), EVRG (Evergy), D (Dominion Energy), CWEN (Clearway Energy), VOW (Volkswagen)

Low Exposure to Fiscal Policy:

These companies are less sensitive to changes in fiscal policy as their operations are less influenced by government spending or tax policies.


Moderate Exposure to Fiscal Policy:

These companies are somewhat influenced by fiscal policy, especially when it comes to government incentives or infrastructure investments, but their exposure is less pronounced than the companies in the "high exposure" category.


High Exposure to Fiscal Policy:

These companies are more directly impacted by fiscal policy because they either rely on government spending, regulatory changes, or infrastructure investments.

./ second opinion

Low Exposure AES (AES Corp.), EXC (Exelon), NEE (NextEra Energy), DUK (Duke Energy), SO (Southern Company), XEL (Xcel Energy), WEC (WEC Energy Group), EVRG (Evergy), D (Dominion Energy), CWEN (Clearway Energy) Moderate Exposure VALE (Vale SA), SQM (Sociedad Química y Minera), RIO (Rio Tinto), ALB (Albemarle), MP (MP Materials), CSIQ (Canadian Solar), NVAX (Novavax) High Exposure MU (Micron Technology), QCOM (Qualcomm), LAZR (Luminar Technologies), POAHY (Porsche Automobil Holding SE), VOW (Volkswagen)

Low Exposure to Trade War:

These companies have relatively low exposure to trade wars as they are either less reliant on international markets or operate in industries less affected by tariffs and trade restrictions.


Moderate Exposure to Trade War:

These companies are somewhat influenced by trade wars, particularly if they rely on global supply chains or markets but are less directly impacted than those in the "High Exposure" category.

CSIQ (Canadian Solar)Moderate Exposure

SQM (Sociedad Química y Minera)Moderate Exposure

VALE (Vale SA)Moderate Exposure



High Exposure to Trade War:

These companies are directly impacted by trade policies, particularly tariffs and export restrictions, as they rely heavily on international markets or supply chains.


./ second opinion

Low Exposure AES (AES Corp.), EXC (Exelon), NEE (NextEra Energy), DUK (Duke Energy), SO (Southern Company), XEL (Xcel Energy), WEC (WEC Energy Group), EVRG (Evergy), D (Dominion Energy), CWEN (Clearway Energy) Moderate Exposure VALE (Vale SA), SQM (Sociedad Química y Minera), RIO (Rio Tinto), ALB (Albemarle), MRNA (Moderna), NVAX (Novavax), BHP (BHP Group), S32 (South32), UMI (Umicore), MP (MP Materials) High Exposure MU (Micron Technology), QCOM (Qualcomm), LAZR (Luminar Technologies), POAHY (Porsche Automobil Holding SE), VOW (Volkswagen), CSIQ (Canadian Solar), TCNNF (Trulieve)

Low Exposure to Consumer Spending

These companies are less sensitive to changes in consumer spending as they operate in industries where demand is more tied to industrial, government, or essential services.


Moderate Exposure to Consumer Spending

These companies are somewhat influenced by consumer spending, though they also have other factors influencing their revenue (e.g., business or industrial customers, international markets).


High Exposure to Consumer Spending

These companies are highly sensitive to fluctuations in consumer spending as they are involved in discretionary products or services that consumers purchase during times of economic growth.

POAHY (Porsche Automobil Holding SE)

MU (Micron Technology)

AMD (Advanced Micro Devices)

AES (AES Corp)