DRIV ETF - A Low Cost Diversified Bet On The Future of EVs
πππThe hottest stocks currently are $Tesla Motors(TSLA)$
and $Global X Autonomous & Electric Vehicles ETF(DRIV)$ has both in the Top 2 holdings! DRIV ETF is my tactical play on the EVs as it is a secular trend that is going to take us to a cleaner and greener earth. In the future, EVs will be the norm while our current combustion engine driven cars maybe obsolete.
According to International Energy Agency (IEA)'s New Report on Global Electric Vehicle Outlook, more than 10 million EVs were sold worldwide in 2022 and that sales are expected to grow by another 35% in 2023 to reach 14 million. The demand for EVs is simply booming.
$Global X Autonomous & Electric Vehicles ETF(DRIV)$ seeks to invest in companies involved in the development of Autonomous Vehicle Technology, Electric Vehicles and EV components and materials. In just 1 trade I gain instant access to 75 global companies which are leaders in this exciting field.
The Top 10 holdings include Nvidia, Tesla, Apple, Alphabet Class A, Toyota Motor, Intel, Qualcomm, Honeywell, Microsoft and Hitachi.
I also like that DRIV is not US centric but also includes Japan, Hong Kong, Germany, South Korea, Canada, France, Australia, Netherlands and Italy.
The expense ratio is 0.68%. Net Assets is USD 890 million. The current dividend yield is 0.97% paid half yearly.
I would love to invest in Tesla and Nvidia individually but as these 2 stocks have gone up so much recently, it is a lot easier on my pocket to invest in DRIV ETF. At the last closing price of USD 25.55, it is a low cost yet diversified way to get into the EV market. Besides as we all know Tesla is a very volatile stock. Its share price has reached a high of USD314.67, yet hit a low of USD 101.81 in just 1 year.
DRIV ETF is a slow and steady kind of ETF and even then it has gone up 28% year to date. It is impossible to pick a winner all the time and even the best Fund Managers can't do that.
So for me I prefer to invest in $Global X Autonomous & Electric Vehicles ETF(DRIV)$ as I know that the EV market will continue to grow exponentially in the long run. So instead of just buying Tesla, I am betting on the success of the entire EV industry. Plus I get to sleep better at night knowing that in the future, EV will be the norm rather than the minority!
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DRIV ETF's global approach is like a road trip to EV domination, hitting all the major countries along the way!
With 10 million EVs sold in 2022, it seems like we're all going to be zipping around in electric cars soon
DRIV ETF sounds like the perfect vehicle to ride the EV trend without burning a hole in your wallet!
Wow, you're really driving the EV hype with those hot stocks
Great ariticle, would you like to share it?