DRIV edged higher since November 2023, but remains in a sideways trading range. Composition of holdings has shifted towards chipmakers over car manufacturers. Concerns over oil prices and the upcoming U.S. election may impact the future of DRIV and the EV market.
Investors continue to avoid EV stocks overall. That's evident when you look at the performance of representative ETFs including iShares Self-driving EV & Tech ETF (NYSEARCA: IDRV ) and Global X Autonomous & Electric Vehicles ETF (NASDAQ: DRIV ).