The iShares Self-Driving EV and Tech ETF (NYSE ARCA:IDRV) tracks an index that brings together companies from around the world that are driving innovation in autonomous and electric vehicles. These companies, listed in 43 developed and emerging markets, generate a significant portion of their revenue from industries related to self-driving cars and electric vehicles.
The fund's investment strategy is designed to mirror the performance of its underlying index. To achieve this, it will allocate at least 80% of its assets to the same securities that make up the index. Additionally, the fund may invest in other instruments that closely replicate the economic characteristics of these securities, ensuring that its performance remains closely tied to the index.
By investing in IDRV, you'll gain exposure to a diversified portfolio of companies that are shaping the future of transportation. These companies may include manufacturers of electric vehicles, autonomous driving systems, and related technologies, as well as suppliers of critical components and software. The fund's global scope and focus on innovation make it an attractive option for investors seeking to tap into the growth potential of the self-driving and electric vehicle industries.