ETFs To Drive On Tesla's Crazy S&P 500 Debut

Tesla currently has a Zacks Rank #3 (Hold) and a VGM Score of B. It falls under a top-ranked industry (in the top 9%).

ETFs to Buy

Investors could tap Tesla’s potential surge with ETFs having substantial allocation to this luxury carmaker. We highlight five of them in detail below.

iShares U.S. Consumer Goods ETF (IYK - Free Report)

This ETF offers exposure to U.S. companies that produce a wide range of consumer goods, including food, automobiles, and household goods by tracking the Dow Jones U.S. Consumer Goods Index. It holds about 96 stocks in its basket with Tesla occupying the top position at 14.5% allocation. The fund has amassed $704 million in its asset base while trades in a volume of about 26,000 shares. It charges 43 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook.

SPDR NYSE Technology ETF (XNTK - Free Report)

This product provides exposure to 35 leading U.S.-listed technology-related companies by tracking the NYSE Technology Index. Tesla takes the top spot with 13.5% share. The ETF has amassed $566 million and charges 35 bps in annual fees. It trades in an average daily volume of 28,000 shares and has a Zacks ETF Rank #2 (Buy).

ARK Autonomous Technology & Robotics ETF (ARKQ - Free Report)

This is an actively managed ETF seeking long-term capital appreciation by investing in companies that benefit from the development of new products or services as well as technological improvement and advancements in scientific research related to energy, automation and manufacturing, materials and transportation. This approach results in a basket of 41 stocks, with TSLA occupying the top spot with 11.9% share. The product has accumulated $1.1 billion in its asset base and charges 75 bps in fees per year. It trades in volume of 289,000 shares a day on average.

Franklin Intelligent Machines ETF (IQM - Free Report)

This actively managed ETF provides access to companies developing technologies that support machine learning as well as those using automated processes. It holds 64 stocks in its basket with Tesla making up for the top firm at 11.9% of assets. The product has accumulated $3.9 million in its asset base since its debut in late February and charges 50 bps in annual fees. It trades in a light volume of 3,000 shares a day on average.

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