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You can invest in the electric-vehicle industry without buying Tesla by selecting shares of other companies or using an EV-themed fund. But a fund’s name or stated theme does not guarantee that it excludes Tesla: check the issuer’s latest complete holdings before investing and revisit them as they change.
Choose between individual shares and a thematic fund
There are two broad ways to get exposure while avoiding Tesla shares. Neither guarantees a particular return, and the right fit depends on whether you want to choose companies yourself or prefer a basket whose holdings follow a stated investment mandate.
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Buy shares in other EV-related companies
You can research publicly traded companies involved in areas such as vehicle manufacturing, battery materials and cells, power electronics, motors, charging infrastructure, and grid or energy systems. This approach lets you decide which businesses to own, but you need to assess each company and build a portfolio yourself. A company’s connection to EVs does not mean its business is a pure play on electric vehicles.
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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsBuying shares through a brokerage is not the only route: some companies offer direct stock plans. Investor.gov notes that these plans may have fees or minimums, and generally execute transactions at set times rather than at a price or precise time you choose. Read the plan terms before using one: Investor.gov’s guide to direct investing.
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Use a thematic fund, after checking its holdings
An EV-themed fund can hold multiple companies, but its actual scope may extend beyond automakers. Depending on its mandate, it may include parts suppliers, materials companies, autonomous-driving technology, connected transportation services, or energy systems. Read the fund’s current holdings and investment rules rather than relying on its name.
What the cited funds say they invest in
The filings below describe investment objectives and mandates; they do not establish that any of these funds currently excludes Tesla. The available cited documents also do not verify complete current holdings. Consult each issuer’s latest holdings disclosure and current prospectus before deciding whether a fund meets your exclusion.
| Fund | What its cited filing says | What to verify |
|---|---|---|
| Global X Autonomous & Electric Vehicles ETF (DRIV) | Seeks to track the Solactive Autonomous & Electric Vehicles Index. Eligible themes include electric and hybrid vehicle makers and components, materials, autonomous-driving technology, and connected transportation services. Its SEC-filed summary prospectus dated April 1, 2026 reports total annual operating expenses of 0.68%. | Latest complete holdings, current fee and prospectus, index methodology, concentration, turnover, bid-ask spread, and any market-price premium or discount to net asset value. Read the SEC-filed DRIV summary prospectus. |
| 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. | Latest complete holdings, current fee, country and sector exposure, concentration, index methodology, and trading costs. Read the SEC filing for FDRV. |
| Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) | Seeks twice the index’s daily performance. Its February 28, 2025 summary prospectus says leverage magnifies daily performance and makes the fund riskier than alternatives without leverage. | Understand the daily leveraged objective and its risks; do not treat it as equivalent to an ordinary unleveraged thematic fund. Read the SEC-filed EVAV summary prospectus. |
Checklist: confirm a fund fits your exclusion
- Check the complete, latest holdings. Look for Tesla across the full portfolio, not only among the largest positions. A holdings disclosure is a snapshot; re-check periodically because positions can change.
- Read the mandate and index rules. Find out what qualifies a company for inclusion and whether the fund covers adjacent themes such as autonomous driving or energy systems, rather than only EV makers.
- Review concentration and exposure. Check position weights, sectors, countries, and how much of the portfolio is actually in vehicle manufacturers versus suppliers or other related businesses.
- Compare ongoing expenses and turnover. Use the current prospectus and issuer disclosures. DRIV’s 0.68% figure applies to its SEC-filed summary prospectus dated April 1, 2026; it is not a fee for other funds or a promise that the rate will remain unchanged.
- Account for trading costs. For an ETF, consider the bid-ask spread and whether its market price trades at a premium or discount to net asset value, in addition to its stated annual expenses. DRIV’s prospectus discusses these costs and pricing differences.
- Confirm local availability and account rules. The cited filings and regulator guidance are U.S.-focused. If you live elsewhere, check local listings, regulation, tax treatment, account eligibility, and whether the fund is available to you.
Why a daily leveraged EV fund is different
EVAV targets twice the index’s performance for a single day, according to its February 28, 2025 summary prospectus. That is a daily objective, not a promise to deliver twice the index’s return over a longer holding period. Daily leverage magnifies losses as well as gains, so a leveraged product is structurally different from a conventional unleveraged thematic ETF. Review its prospectus and risks before considering it: EVAV’s SEC-filed summary prospectus.
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If Tesla must be absent from your investment, the decisive check is the latest complete portfolio disclosure—not a fund’s name, marketing description, or top-holdings list. The filings cited here describe mandates, but do not verify a Tesla-free fund. Investor.gov also advises investors to look beyond labels when evaluating funds: Investor.gov’s bulletin on ESG funds.
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