What are electric vehicle ETFs?
Electric vehicle ETFs own companies tied to electric cars and the technology around them: carmakers, battery makers, chipmakers and self-driving developers. Tesla is the stock they share most, held by 7 of the 10 funds at a median weight of about 4%. Rivian appears in 4 funds, while battery maker Samsung SDI and self-driving developer Aurora Innovation each appear in 3. Beyond those names, the funds overlap less than their labels suggest.
Most are index funds, which follow a published list of stocks rather than a manager's picks. DRIV tracks the Solactive Autonomous & Electric Vehicles Index, KARS the Bloomberg Electric Vehicles Index and CARZ the S-Network Electric & Future Vehicle Ecosystem Index. Their holdings differ sharply. IDRV leans toward Chinese carmakers such as BYD, Li Auto and Nio. CARZ leans on chipmakers, led by Micron at 9%, AMD and Intel. ZAP owns US utilities and grid companies such as Dominion Energy and Quanta Services. HAIL spreads its money thinly, with 17% in its 10 largest holdings.
The smallest funds work differently. TESL names no index; its largest holding is Tesla at about 24%, followed by US Treasury securities. EVMT follows a commodity strategy in metals used in electric vehicles instead of owning company shares. ZIPP, as its name says, aims for exposure equal to 100% of its assets in Uber plus 100% in Tesla, so its total exposure is larger than the money invested.
The median expense ratio, the yearly fee taken from a fund's assets, is 0.59%. Fees run from 0.39% for FDRV to 1.29% for ZIPP. The money is concentrated: DRIV, ZAP, IDRV, KARS and CARZ hold 94% of the roughly $1.29 billion across all 10 funds.
Electric vehicle ETF holdings: the stocks most funds own
The stocks that show up most often among the largest positions of the 10 biggest electric vehicle ETFs with holdings reports, from their latest N-PORT filings.
| Stock | Funds holding it | Typical weight |
|---|---|---|
| Tesla, Inc. | 7 of 10 | 4.04% |
| Rivian Automotive, Inc. | 4 of 10 | 3.77% |
| Samsung Sdi Co., Ltd. | 3 of 10 | 3.43% |
| Aurora Innovation, Inc. | 3 of 10 | 2.7% |
| Intel Corporation | 2 of 10 | 5% |
| Byd Company Limited | 2 of 10 | 3.75% |
| Autoliv, Inc. | 2 of 10 | 2.82% |
| Nvidia Corporation | 2 of 10 | 2.66% |
| Alphabet Inc. | 2 of 10 | 2.64% |
| Microsoft Corporation | 2 of 10 | 2.24% |
| STMicroelectronics N.V. | 2 of 10 | 2.22% |
| Allegro Microsystems Inc | 2 of 10 | 2.15% |
Typical weight is the median share of each fund’s assets in the stock, among the funds that hold it in their 25 largest positions.
The largest electric vehicle ETFs, side by side
Swipe the table to see all 5 funds.
| DRIV | ZAP | IDRV | KARS | CARZ | |
|---|---|---|---|---|---|
| Net assets | $477.1M | $461.7M | $133.0M | $83.8M | $53.3M |
| Expense ratio | 0.68% | 0.5% | 0.48% | 0.69% | 0.7% |
| Holdings | 76 | 45 | 66 | 79 | 101 |
| In the 10 largest | 26.84% | 41.9% | 40.43% | 40.03% | 52.68% |
| Biggest holding | Intel Corporation (5%) | Dominion Energy, Inc. (4.58%) | Byd Company Limited (4.84%) | Panasonic Holdings Corporation (5.47%) | Micron Technology Inc (9.09%) |
| Yield | 0.72% | 1.91% | 2.07% | 0.23% | 1.07% |
| 1-year return | +1.1% | +3.6% | -18.7% | -16.7% | +29.7% |
| 3 years, a year | +15.0% | — | +1.5% | +3.1% | +30.7% |
| 5 years, a year | +2.0% | — | -7.9% | -11.1% | +11.5% |
| Worst drop, past year | -30.5% | -13.0% | -32.8% | -33.9% | -20.9% |
| Launched | 2018 | 2024 | 2019 | 2018 | 2011 |
The largest ordinary funds by net assets (leveraged and inverse funds are listed further down). Holdings from each fund’s latest N-PORT report; returns include reinvested distributions, as of Oct 27, 2026.
Head to head
DRIV vs ZAP
Both come from Global X, but only 3% of their assets overlap. DRIV holds 76 stocks tied to electric and self-driving vehicles, led by chipmaker Intel at 5%, with 27% in its top 10. ZAP holds 45 stocks in US utilities and electrical equipment, led by Dominion Energy, with 42% in its top 10. ZAP charges 0.50%; DRIV, 0.68%. As of October 27, 2026, ZAP returned 3.6% over one year and DRIV 1.1%, and DRIV's worst drop was 30.5% against ZAP's 13%. DRIV may suit those seeking a broad mix of vehicle-technology stocks; ZAP, the power side of electrification.
DRIV vs CARZ
Of the five largest funds, these two overlap most: 31% of assets, across 39 shared stocks. Both lean on chipmakers, CARZ far more. Its top 10 make up 53%, led by Micron at 9.1%, AMD and Intel; DRIV's top 10 make up 27%, led by Intel at 5%. Fees are nearly identical: 0.70% for CARZ, 0.68% for DRIV. As of October 27, 2026, CARZ returned 29.7% over one year versus 1.1% for DRIV, with a smaller worst drop (20.9% versus 30.5%). CARZ may suit those comfortable with a heavy chip tilt; DRIV, those wanting a wider spread.
IDRV vs KARS
Both target carmakers and battery suppliers worldwide, and 28% of their assets overlap. IDRV (iShares) holds 66 stocks led by BYD at 4.8%, then Li Auto, Rivian and Nio. KARS (KraneShares) holds 79, led by Panasonic at 5.5%, STMicroelectronics and Tesla. Each has about 40% in its top 10. IDRV costs 0.48%; KARS, 0.69%. As of October 27, 2026, IDRV lost 18.7% over one year and KARS 16.7%, with worst drops of 32.8% and 33.9%. IDRV yielded 2.07%, KARS 0.23%. IDRV may suit those wanting more Chinese carmakers; KARS, more battery and chip suppliers.
How much do the largest electric vehicle ETFs overlap?
Owning two funds that hold the same stocks adds little diversification. Overlap here is the share of assets two funds have in common: for each stock both own, the smaller of its two weights, added up.
| Funds | Assets in common | Shared holdings | |
|---|---|---|---|
| DRIV and CARZ | 31.2% | 39 | |
| IDRV and KARS | 27.8% | 15 | |
| DRIV and IDRV | 19.6% | 22 | |
| DRIV and KARS | 15.7% | 15 | |
| KARS and CARZ | 12.8% | 29 | |
| IDRV and CARZ | 10.4% | 22 | |
| DRIV and ZAP | 3% | 3 | |
| ZAP and KARS | 0.3% | 1 | |
| ZAP and IDRV | 0% | 1 | |
| ZAP and CARZ | 0% | 0 |
From each fund’s full holdings in its latest N-PORT report.
How have electric vehicle ETFs performed?
The five largest ordinary funds: growth from the start of the range, distributions reinvested. The dashed gray line is the S&P 500 (SPY).
Best-performing electric vehicle ETFs over the past year
| # | Fund | Net assets | Cost | 1 mo | YTD | 1 yr | 3 yr |
|---|---|---|---|---|---|---|---|
| 1 | CARZ First Trust S-Network Future Vehicles & Technolog… | $53.3M | 0.7% | -8.4% | +29.3% | +29.7% | +30.7% |
| 2 | ZAP Global X U.S. Electrification ETF | $461.7M | 0.5% | +3.0% | +9.6% | +3.6% | — |
| 3 | DRIV Global X Autonomous & Electric Vehicles ETF | $477.1M | 0.68% | -9.8% | +3.0% | +1.1% | +15.0% |
| 4 | FDRV Fidelity Electric Vehicles and Future Transportat… | $28.0M | 0.39% | -7.6% | -6.9% | -12.6% | +1.8% |
| 5 | KARS KraneShares Electric Vehicles & Future Mobility I… | $83.8M | 0.69% | -8.5% | -15.3% | -16.7% | +3.1% |
| 6 | IDRV iShares Self-driving EV & Tech ETF | $133.0M | 0.48% | -8.4% | -17.9% | -18.7% | +1.5% |
Funds with at least $25 million in net assets; leveraged and inverse funds left out. Past returns don’t predict future returns.
How electric vehicle ETFs did in past market crashes
| Fund | 2008 crash | 2020 crash | 2022 drop |
|---|---|---|---|
| DRIV | not yet launched | -38.5% | -36.6% |
| ZAP | not yet launched | not yet launched | not yet launched |
| IDRV | not yet launched | -36.8% | -39.9% |
| KARS | not yet launched | -36.5% | -37.7% |
| CARZ | not yet launched | -41.6% | -35.8% |
| S&P 500 (SPY) | -55.2% | -33.7% | -24.5% |
Total return from the stock market’s peak to its low in each fall, distributions reinvested.
What drives electric vehicle ETFs?
The companies in these funds earn money in different ways, so different forces move them. Carmakers depend on vehicle sales, which rise and fall with consumer spending and interest rates because most cars are paid for with loans. Price wars, government tax credits and the cost of battery metals can widen or squeeze their profit margins. Chipmakers, which top the holdings of CARZ and DRIV, follow the semiconductor demand cycle, which reaches well beyond cars. Utilities in ZAP are regulated and tend to move with interest rates and electricity demand. Many EV-related stocks are valued on profits expected years ahead, which makes their prices especially sensitive to interest rates.
In past downturns, the older funds fell further than the broad market. In the 2020 COVID crash, CARZ fell 41.6%, DRIV 38.5%, IDRV 36.8% and KARS 36.5%, against 33.7% for the S&P 500. The 2022 bear market hit them much harder: IDRV fell 39.9%, KARS 37.7%, DRIV 36.6% and CARZ 35.8%, compared with 24.5% for the S&P 500. None of these funds existed during the 2008 financial crisis, and ZAP, launched in December 2024, has no record from either later downturn.
Electric vehicle ETFs with the lowest expense ratios
| # | Fund | Expense ratio | On $10,000 | Net assets |
|---|---|---|---|---|
| 1 | FDRV Fidelity Electric Vehicles and Future Transpo… | 0.39% | $39 a year | $28.0M |
| 2 | HAIL SPDR S&P Kensho Smart Mobility ETF | 0.45% | $45 a year | $22.4M |
| 3 | IDRV iShares Self-driving EV & Tech ETF | 0.48% | $48 a year | $133.0M |
| 4 | ZAP Global X U.S. Electrification ETF | 0.5% | $50 a year | $461.7M |
| 5 | DRIV Global X Autonomous & Electric Vehicles ETF | 0.68% | $68 a year | $477.1M |
Ordinary funds with at least $10 million in net assets. The median ordinary electric vehicle ETF charges 0.59% a year; leveraged and inverse funds usually charge more.
Do electric vehicle ETFs pay dividends?
8 of the 10 ordinary electric vehicle ETFs with a page here paid distributions over the last 12 months, with a median yield of 1.45%.
| Highest yields | Yield | Net assets |
|---|---|---|
| IDRV iShares Self-driving EV & Tech ETF | 2.07% | $133.0M |
| ZAP Global X U.S. Electrification ETF | 1.91% | $461.7M |
| FDRV Fidelity Electric Vehicles and Future Transpo… | 1.45% | $28.0M |
| CARZ First Trust S-Network Future Vehicles & Techn… | 1.07% | $53.3M |
| DRIV Global X Autonomous & Electric Vehicles ETF | 0.72% | $477.1M |
Distributions over the last 12 months divided by the price; funds with at least $25 million in net assets.
How to choose a electric vehicle ETF
- Fees run from 0.39% to 1.29%. FDRV (0.39%), HAIL (0.45%) and IDRV (0.48%) charge the least; ZIPP charges 1.29%. The two cheapest are small, with about $28 million and $22 million, while DRIV and ZAP each hold more than $460 million.
- What each fund means by EV. IDRV leans toward carmakers like BYD and Nio, CARZ toward chipmakers like Micron and AMD, and ZAP toward US utilities and grid firms like Dominion Energy. ZAP overlaps 3% or less with the other large funds.
- Spread thin or packed into a few. HAIL puts just 17% in its 10 largest holdings and DRIV 27%. CARZ puts 53% in its top 10, with Micron alone at 9%. TESL has 69% in its five holdings, led by Tesla at about 24%.
- Index funds versus funds with no index. Most track an index: Solactive's for DRIV, Bloomberg's for KARS, S&P Kensho's for HAIL and Fidelity's own for FDRV. TESL, EVMT and ZIPP name no index; each aims for long-term capital appreciation.
- US-focused or worldwide. ZAP focuses on US electrification, as its name says. IDRV's index covers developed and emerging markets, with Chinese carmakers BYD, Li Auto and Nio among its largest holdings. KARS mixes Japan's Panasonic, Europe's STMicroelectronics and Tesla.
- Single-stock and commodity funds behave differently. TESL holds Tesla at about 24% plus US Treasury securities. ZIPP targets 100% exposure each to Uber and Tesla. EVMT follows a commodity strategy in EV metals instead of owning stocks. Each can move very differently from the index funds.
What are the risks of electric vehicle ETFs?
- Steep swings within a single year. In the year to October 27, 2026, KARS fell as much as 33.9% from a peak, IDRV 32.8% and DRIV 30.5%. Most had volatility, a gauge of how widely prices swing, of about 27% to 31%.
- Heavy bets on a few stocks. CARZ has 53% of its assets in 10 stocks, led by Micron, AMD and Intel, so a slump in chip stocks would hit it hard. Tesla appears in 7 of the 10 funds, so its swings ripple across the group.
- Single-stock funds can magnify losses. TESL lost 55.4% in the year to October 27, 2026, fell as much as 60.3%, and had volatility of 64.2%. ZIPP aims for 100% exposure to both Uber and Tesla, so a fall in either counts in full.
- Trade and subsidy policy, especially China. IDRV's largest holdings include Chinese carmakers BYD, Li Auto and Nio and battery maker CATL, which KARS and FDRV also own. Tariffs, US-China tensions and changes to EV subsidies or tax credits can move these stocks sharply.
- Small funds can close. ZIPP holds under $1 million, EVMT about $7 million and TESL about $19 million. Funds this small can have wider bid-ask spreads, the gap between quoted trading prices, and may close, returning cash and possibly a taxable gain.
List of all electric vehicle ETFs, by size
| # | Fund | Net assets | Cost | Yield | YTD | 1 yr | 5 yr |
|---|---|---|---|---|---|---|---|
| 1 | DRIV Global X Autonomous & Electric Vehicles ETF | $477.1M | 0.68% | 0.72% | +3.0% | +1.1% | +2.0% |
| 2 | ZAP Global X U.S. Electrification ETF | $461.7M | 0.5% | 1.91% | +9.6% | +3.6% | — |
| 3 | IDRV iShares Self-driving EV & Tech ETF | $133.0M | 0.48% | 2.07% | -17.9% | -18.7% | -7.9% |
| 4 | KARS KraneShares Electric Vehicles & Future Mobility I… | $83.8M | 0.69% | 0.23% | -15.3% | -16.7% | -11.1% |
| 5 | CARZ First Trust S-Network Future Vehicles & Technolog… | $53.3M | 0.7% | 1.07% | +29.3% | +29.7% | +11.5% |
| 6 | FDRV Fidelity Electric Vehicles and Future Transportat… | $28.0M | 0.39% | 1.45% | -6.9% | -12.6% | -10.6% |
| 7 | HAIL SPDR S&P Kensho Smart Mobility ETF | $22.4M | 0.45% | 2.09% | -3.3% | -12.5% | -9.0% |
| 8 | TESL Simplify Volt TSLA Revolution ETF | $18.7M | 0.97% | 0% | -26.4% | -55.4% | — |
| 9 | EVMT Invesco Electric Vehicle Metals Commodity Strateg… | $7.1M | 0.59% | 11.86% | -0.6% | +8.3% | — |
| 10 | ZIPP STKd 100% UBER & 100% TSLA ETF | $874K | 1.29% | — | 0.0% | -11.7% | — |
Questions investors ask about electric vehicle ETFs
Is there a Vanguard, Fidelity or Schwab electric vehicle ETF?
Yes. Fidelity offers one: FDRV (Fidelity Electric Vehicles and Future Transportation ETF). Vanguard and Schwab don’t have a electric vehicle ETF.
