On just its second day of trading after its IPO debut, electric vehicle (EV) company Rivian jumped 22% as the move towards EVs continues around the globe.

Rivian aims to set itself apart in the competitive EV market by offering trucks that focus on ruggedness, utility, and luxury. This helps discern it from other rivals, including Tesla.

Like Tesla, however, it must be able to churn out a profit at some point for investors. Tesla took 18 years to finally produce a profitable year after operating in the red for quite some time.

“The electric carmaker, which was founded in 2003, said it earned $721 million in 2020, in contrast to a loss of $862 million in 2019, even though the pandemic was a drag on sales and production in the United States,” a New York Times article says. “The company made $270 million in the last three months of the year, up from $105 million in the same period of 2019.”

Get Charged Up for This EV ETF

ETF investors looking to get in on the shift to more EVs on the road can capitalize on this growth opportunity with the Global X Autonomous & Electric Vehicles ETF (DRIV). The ETF itself is up about 32% so far in 2021.

DRIV seeks to invest in companies involved in the development of autonomous vehicle technology, 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 within the sub-sector.

DRIV ChartFor more news, information, and strategy, visit the Thematic Investing Channel.