EV stocks and ETFs have provided 30%+ returns in US stock markets in 2023. The momentum is likely to continue next year given EV tax credit will be offered at point of sale, growing consumer demand, high gas prices, declining EV battery cost given economies of scale, and growing consumer interest in EV segment. One of the prime EV investment strategy in 2024 will be to invest in dedicated EV ETFs. Following is a curated list of Top 5 Electric Vehicle (EV) ETFs To Invest In 2024:
#5. iShares Self-Driving EV and Tech ETF (IDRV)
YTD Return: 31.6%
NASDAQ’s YTD Return: 23.6%
Top 3 Holdings: Alphabet, Nvidia, and Microsoft
To start with our #5, iShares Self-Driving EV and Tech ETF (IDRV) is best EV ETF investment option for investors who wish to maximize returns from EV adoption and autonomous vehicles and taxis.
IDRV’s investment strategy in 2024 will remain higher across autonomous driving tech stocks than EVs. In addition, the exposure is higher on non-US EV stocks when compared to rest of the Top 4 EV Electric Vehicle (EV) ETFs To Invest In 2024.
#4. Amplify Lithium & Battery Technology ETF (BATT)
YTD Return: 31.8%
NASDAQ’s YTD Return: 23.6%
Top 3 Holdings: Albemarle, Livent, and SQM
Next our #4 bet includes BATT EV ETF is a perfect investment strategy bet for those who wish to take exposure in Lithium based tech battery stocks. Lithium is a key mineral required in production of EV batteries. Given with every iteration of the EV makers are boosting the battery’s mileage by tweaking the Lithium usage in the battery equipment.
The reliance on Lithium reserves to create long lasting and high mileage EV batteries is expected to remain extremely high till 2050. Thus, making BATT EV ETF as a long term sustainable EV investment.
#3. Global X Lithium & Battery Tech ETF (LIT)
YTD Return: 32.1%
NASDAQ’s YTD Return: 23.6%
Top 3 Holdings: Albemarle, Livent, and SQM
Next up at #3 is LIT EV ETF is not a conventional EV stock based investment basket. Infact, it invests heavily in Lithium battery manufacturing stocks esp. around new EV battery tech. Similar to LIT in high level investment goals, LIT is expected to continue grow in excess of 20% in 2024.
#2. Global X Autonomous & Electric Vehicles ETF (DRIV)
YTD Return: 33.4%
NASDAQ’s YTD Return: 23.6%
Top 3 Holdings: Alphabet, Nvidia, and Microsoft
Then comes the premiere at #2, DRIV is a well balanced EV ETF for 2024. It relies on the Indxx Global Autonomous & Electric Vehicles Index. This in turn tracks the production, marketing, sale and investments in autonomous drive tech. It has slightly heavy weightage towards the autonmous tech than on EV segment stocks. DRIV EV ETF invests in non US EV and autonomous tech drive stocks. If as an investor you’d like to diversify your investment strategy then DRIV could be the right bet. Overall, in our Top 5 Electric Vehicle (EV) ETFs To Invest In 2024, this is neck to neck with our #1 EV ETF investment pick.
#1. KraneShares Electric Vehicles & Future Mobility Index ETF (KARS)
YTD Return: 35.7%
NASDAQ’s YTD Return: 23.6%
Top 3 Holdings: Tesla, XPeng, and Li Auto
And Finally, the winner at #1 is – KARS is the leader in the EV ETF pack for 2024. It relies on Solactive Electric Vehicle and Future Mobility Index. The mix of companies include EV manufacturers, EV Battery tech stocks, EV charging and EV charging infrastructure companies. Given the best investment mix across Chip manufacturers, EV marketers, EV makers and EV infrastructure management companies – KARS ETF is our pick from Top 5 Electric Vehicle (EV) ETFs To Invest In 2024.