The Tool Desk
Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →You can invest in electric vehicles without buying Tesla shares by choosing other publicly traded companies or by buying an EV-themed fund—but a fund’s name does not guarantee that it excludes Tesla. Check the fund issuer’s latest complete holdings before investing, and repeat the check because portfolios change.
Two ways to invest without buying Tesla stock
Choose individual companies
You can research publicly traded businesses involved in electric vehicles beyond automakers, including battery materials and cells, power electronics, motors, charging infrastructure, and grid or energy systems. This approach lets you select the companies yourself, but you must evaluate each business and its risks; exposure to an EV-related industry does not make a company a pure play on electric vehicles.
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Shares are commonly bought through a brokerage account. Some companies also offer direct stock plans, but their terms can include fees or minimums, and transactions may be executed at set times rather than at a price or precise time you choose. See Investor.gov’s overview of direct investing.
Use a thematic fund
An EV-themed exchange-traded fund (ETF) can hold multiple companies through one investment. Funds may cover much more than vehicle manufacturers: mandates can include hybrid vehicles, components, battery-related materials, autonomous-driving technology, connected transportation, or energy systems. Read the mandate and index rules to understand what the fund actually invests in.
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- Includes a space for logging miles and time driven
Neither a fund’s title nor its stated theme proves that Tesla is absent. The filings below describe investment mandates; they do not establish that any of these funds is currently Tesla-free. Check the issuer’s latest complete holdings file—not just its list of largest positions—before buying.
What the cited fund filings say
| Fund | Mandate described in the cited filing | What to verify |
|---|---|---|
| Global X Autonomous & Electric Vehicles ETF (DRIV) | Seeks to track the Solactive Autonomous & Electric Vehicles Index. Eligible themes include makers and components of electric and hybrid vehicles, materials, autonomous-driving technology, and connected transportation services. Its summary prospectus dated April 1, 2026 reports total annual operating expenses of 0.68%. SEC-filed summary prospectus | Latest complete holdings for Tesla; current prospectus and fee; index rules; concentration and turnover; bid-ask spread and any market-price premium or discount to net asset value. |
| Fidelity Electric Vehicles and Future Transportation ETF (FDRV) | Tracks an index of companies involved in electric or autonomous vehicles and related components, technology, energy systems, or other initiatives changing transportation. The filing describes a global universe subject to liquidity and investability requirements. SEC filing | Latest complete holdings for Tesla; current fee; country and sector exposure; concentration; index rules; trading costs. |
| Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) | Seeks twice the index’s daily performance. Its summary prospectus warns that leverage magnifies daily performance and makes the fund riskier than alternatives without leverage. SEC-filed summary prospectus dated February 28, 2025 | Understand the daily leveraged objective and risks before considering it; do not treat it as equivalent to an ordinary unleveraged thematic ETF. |
The 0.68% expense figure is specific to DRIV’s April 1, 2026 summary prospectus; it should not be applied to other funds or assumed to remain unchanged. A fund’s statutory prospectus and current issuer disclosures are the appropriate places to check its latest terms and holdings.
Checklist before buying an EV-themed ETF
- Confirm Tesla exposure. Search the issuer’s latest complete holdings file for Tesla, rather than relying on top-holdings summaries or the fund name. Recheck periodically because holdings can change.
- Read the mandate and index methodology. See which business activities qualify, how companies are selected, and how positions are weighted. A broad transportation mandate may lead to meaningful exposure to technology or services rather than automakers.
- Check concentration and turnover. Review whether a small number of holdings dominate and how frequently the portfolio changes. These can affect how closely the fund matches your intended exposure and its costs.
- Compare ongoing expenses and trading costs. Check the current annual expense figure, the ETF’s bid-ask spread, and whether its market price is at a premium or discount to net asset value. An expense ratio is not the only cost of owning an ETF.
- Verify availability where you invest. The cited evidence is U.S.-focused. Listings, fund access, regulation, and tax treatment can differ by country and account type.
For broader context on evaluating fund claims and disclosures, see Investor.gov’s investor bulletin on ESG funds.
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Why a 2x daily EV fund is different
EVAV’s stated objective is twice the index’s performance for a single day. That is a daily leveraged target, not a promise to deliver twice the index’s return over a longer holding period. Its prospectus describes greater risk than non-leveraged alternatives because the leverage magnifies daily performance. Treat it as a distinct product, not a conventional long-term EV ETF.
What the available filings do—and do not—establish
The cited filings describe broad mandates, and the DRIV filing provides a dated expense figure. They do not verify current complete holdings for the funds or prove that any named fund excludes Tesla. If excluding Tesla is essential, confirm its absence in the issuer’s latest full holdings disclosure before investing; if the disclosure is incomplete or unclear, do not assume the fund meets that requirement.
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