5 Best ETFs to Buy in 2022 According to Reddit

3. iShares Core S&P 500 ETF (NYSE:IVV)

iShares Core S&P 500 ETF (NYSE:IVV) seeks to track the investment results of an index comprising the largest U.S. equities. As of March 31, the 1-year returns for iShares Core S&P 500 ETF (NYSE:IVV) were 15.61%, whereas the benchmark returned 15.65%. The fund was established May 15, 2000 and has total net assets exceeding $299 billion as of June 1. The expense ratio clocks in at 0.03%.

One of the largest holdings of iShares Core S&P 500 ETF (NYSE:IVV) is Tesla, Inc. (NASDAQ:TSLA), the American EV manufacturer. On April 20, Tesla, Inc. (NASDAQ:TSLA) reported earnings for Q1 2022, announcing an EPS of $3.22 and a revenue of $18.76 billion, above Street consensus by $0.95 and $917.76 million, respectively. 

According to Insider Monkey’s Q1 database, 80 hedge funds were bullish on Tesla, Inc. (NASDAQ:TSLA), compared to 91 funds in the preceding quarter. Cathie Wood’s ARK Investment Management is a leading stakeholder of the company, with a position worth $1.7 billion. 

Here is what Baron Fifth Avenue Growth Fund has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q1 2022 investor letter:

“During the first quarter, we bought back shares in Tesla, Inc., which designs, manufactures, and sells electric vehicles, solar products, energy storage solutions, and batteries. We believe that despite the run in the stock over the last few years, Tesla presents a favorable risk/reward profile and remains a Big Idea with only about 1% market share of the automotive market. Since we bought the stock during the first quarter, shares increased 27.1%, despite a complex supply-chain environment, on continued revenue growth and record profitability. Robust demand and operational optimization allow the company to offset inflationary pressures while vertical integration provides flexibility around supply bottlenecks. Moreover, we expect new localized manufacturing capacity to drive additional efficiencies while software initiatives, including the autonomous driving program, are accelerating, offering valuable optionality to the stock.”