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iShares Self-Driving EV and Tech ETF is a hold due to challenges in the autonomous vehicle industry, lack of U.S. large tech companies, and risk of import tariffs. The Fund is globally diversified with even weights on U.S., European, and Asian companies, but lacks well-established U.S. large tech companies. Performance, expenses, and dividends of IDRV compared to peer funds show suboptimal returns despite a lower expense ratio and growing dividend yield.
IDRV tracks a portfolio of global electric vehicle stocks and companies involved in related technologies. The segment has underperformed in 2023, amid macro headwinds, despite what remains a strong long-term growth outlook. We are bullish on IDRV and expect electric vehicle stocks to rebound going forward.
I have been working to reduce the number of equities in his portfolio for easier tracking and analysis and to (hopefully) boost his total returns. As a result, I recently sold shares in the iShares Self-Driving EV & Tech ETF to take advantage of a 31% YTD increase and to reduce portfolio overlap. I used the proceeds to increase my holdings in Jabil (a company that grew its Automotive Segment sales 47% last quarter) and in the Vanguard S&P500 ETF: VOO.
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