Shares of Elon Musk’s electric carmaker Tesla (NasdaqGM: TSLA) jumped 8% Monday on volume that was 22% higher than the daily average. For Tesla bulls, Monday’s action was encouraging because California-based Tesla delivers quarterly results on Tuesday.

Analysts are expecting earnings of $13.4 million or 11 cents a share, compared to a loss of 92 cents a share last year. Sales are expected to have surged almost 1,000% to nearly $535 million. Upside surprises and upbeat guidance could send Tesla racing toward $200 (it closed at $175.20 on Monday) while benefiting the so-called Tesla ETFs in the process. [Tesla Could Drive This ETF Higher]

Those long shares of Tesla would love to see that happen after the stock plunged 17% in October while shedding $4.1 billion in market value. Highlighting just how rapidly the stock has appreciated, Tesla’s lost $4.1 billion in market value last month was more than its entire market cap at the beginning of 2013, reports Michelle Jones for ValueWalk.

However, while Tesla tumbled last month, the two ETFs that have previously held large allocations did not. That scenario could serve as a valuable reminder to investors that while an ETF that holds Tesla is unlikely to outperform the stock on the way, the fund will not be as bad as the stock in the event of, say a 17% one-month decline.

That lesson should have been learned last year when Apple (NasdaqGM: AAPL) started its decline from the $700 area to below $400 earlier this year. [Apple Slices With ETFs]