The iShares Self-Driving EV and Tech ETF (NYSEARCA:IDRV) is up 55.3% over the past year but has been relatively flat over the past 6-months. That's likely due to investor concerns over inflation and the higher interest rates that may be
IDRV: The Current Oil Rally Will Accelerate Global EV Transition, So Will Ford
Summary
- Brent oil is in a strong rally and currently trading near $80/bbl - close to a three-year high.
- In some regions of the US, gasoline prices are the highest since 2014.
- Both of these factors, along with ESG and global warming concerns, will only serve to accelerate the global transition to EVs - sales of which were already booming.
- Enter the iShares Self-Driving EV and Tech ETF, which will be a beneficiary of the booming global EV market.
Michael Fitzsimmons is a retired electronics engineer and avid investor. He advises investors to construct a well-diversified portfolio built on a core foundation of a high-quality low-cost S&P500 fund. For investors who can tolerate short-term risks, he advises an over-weight position in the technology sector, which he believes is still in the early stages of a long-term secular bull-market. For dividend income, and as a 4th generation oil & gas man, Fitzsimmons suggests investors consider a position in large O&G companies that provide strong dividend income and dividend growth. Fitzsimmons' articles on portfolio management recommend a top-down capital allocation approach that is aligned with each individual investor's personal situation (i.e. age, retired/working, risk tolerance, income, net worth, goals, etc) and might include allocations into investment categories such as the S&P500, technology, dividend income, sector ETFs, growth, speculative growth, gold, and cash.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of IDRV GOOG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I am an electronics engineer, not a CFA. The information and data presented in this article were obtained from company documents and/or sources believed to be reliable, but have not been independently verified. Therefore, the author cannot guarantee their accuracy. Please do your own research and contact a qualified investment advisor. I am not responsible for the investment decisions you make.
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