The amazing Tesla rally is making these funds a boatload

Share
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.

More In Pro News and Analysis

CNBC ProAs Rocket Mortgage pops, here are some other top short squeeze candidates
CNBC ProBarclays picks the winning and losing stocks from Biden’s clean energy agenda
CNBC ProGoldman raises outlook on commodities, sees 15% return over next 12 months