The underlying NYSE FactSet Global Autonomous Driving and Electric Vehicle Index is made up of firms from both emerging and developed markets that stand to gain from growth and innovation in and around electric vehicles, battery technologies as well as autonomous driving technologies. That being said, for investors looking for momentum, the iShares Self-Driving EV …
The underlying NYSE FactSet Global Autonomous Driving and Electric Vehicle Index is made up of firms from both emerging and developed markets that stand to gain from growth and innovation in and around electric vehicles, battery technologies as well as autonomous driving technologies. That being said, for investors looking for momentum, the iShares Self-Driving EV & Tech ETF IDRV should now be on their look out. The fund has recently hit a 52- week high and is up by 38.79% from its 52-week low.
In recent years, the Electric Vehicle (EV) has gained traction globally. With approximately 300k units of electric vehicle delivered in the second quarter, the U.S. saw a tremendous increase in sales of fully battery-electric vehicles. This amount not only marks a new record for any quarter, but it also reflects a significant 48.4% increase over the previous year. Large price cuts made by specific automakers as well as attractive incentives that exceed the industry average has contributed to the high sales figure. According to a study, the market for EV charging infrastructure in the U.S is expected to rise to $43.46 billion from $3.92 billion in less than a decade.
Given a positive weighted alpha of 23.04, IDRV is likely to maintain its outstanding performance.
Risk Disclaimer:
Please note that this article does not offer any instructions or suggestions regarding investment decisions. Therefore, it is essential that you carefully evaluate your financial situation and conduct thorough analysis, or seek advice from a qualified professional, before making any investment decisions.
