Drive Your Way to Gains With This Autonomous Vehicle ETF

Up over 60% within the past year, for ETF investors who want to drive their way to more gains, there’s the Global X Autonomous & Electric Vehicles ETF (DRIV). It’s a disruptive space that continues to evolve and innovate within the automotive sector.

DRIV seeks to invest in companies involved in the development of autonomous vehicle technology, electric vehicles (“EVs”), and EV components and materials. This includes companies involved in the development of autonomous vehicle software and hardware, as well as companies that produce EVs, EV components such as lithium batteries, and critical EV materials such as lithium and cobalt.

DRIV seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Autonomous & Electric Vehicles Index. The fund offers:

  • High Growth Potential: DRIV enables investors to access high growth potential through companies critical to the development of autonomous and electric vehicles – a potentially transformative economic innovation.
  • An Unconstrained Approach: DRIV’s composition transcends classic sector, industry, and geographic classifications by tracking an emerging technological theme.
  • ETF Efficiency: In a single trade, DRIV delivers access to dozens of companies with high exposure to the autonomous and electric vehicles theme. Having the disruptive automotive industry in an ETF wrapper also gives traders access to short-term market maneuvers in this sub-sector.

DRIV Chart

DRIV data by YCharts

Top Holding Makes Headway in Self-Driven Road Trip

As of January 4, DRIV’s top holding is electric automaker, Tesla. The company recently made headway with its self-driving technology with one of its cars successfully making a road trip from San Francisco to Los Angeles.

“Tesla’s Full Self-Driving might still be in beta, but that isn’t stopping early adopters from using it for autonomous trips… well, almost,” a Yahoo! Finance article said. “As Teslarati describes, Tesla enthusiast Whole Mars Catalog has posted a video showing their FSD-equipped Model 3 completing a trip from San Francisco to Los Angeles with virtually no interventions. The lone exception was just after crossing into LA when the driver took the reins to avoid large debris on the road.”

“This appears to be the first known, recorded instance of Full Self-Driving completing this trip without input, Whole Mars Catalog said,” the article added. “It’s a notable feat for technology that’s still rough around the edges and, despite its name, doesn’t let you take your hands off the wheel. At the same time, it’s also indicative of how far the technology has to go before it can fulfill Elon Musk’s robo-taxi dreams.”

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