The amazing Tesla rally is making these funds a boatload

Key Points
  • Tesla's surge this year has not only benefited individual Tesla shareholders. It has also helped some funds blow their peers out of the water in the early part of 2020.
  • Using Morningstar data, CNBC found the funds that are most concentrated in Tesla. The stock accounts for more than 15% of the total assets in some of these funds.
  • To be sure, these funds may have too much leverage in what could be a single-stock bubble. Tesla's stock moves have drawn comparisons to the run-ups seen during the dotcom bubble. 
GP: Elon Musk, chief executive officer of Tesla Inc., speaks during an event at the site of the company's manufacturing facility in Shanghai, China, on Monday, Jan. 7, 2019.
Qilai Shen | Bloomberg | Getty Images

There are several mutual and exchange-traded funds that are on fire this year thanks in part to the hottest stock in U.S. markets, right now: Tesla.