After the closing bell on Wednesday, Tesla Motors (TSLA Quick QuoteTSLA - Free Report) cheered investors by reporting the best quarterly results in history. The electric carmaker easily topped Q3 earnings and revenue estimates. In fact, the company reported profit for the fifth consecutive quarter with record revenues driven by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers.

Q3 Earnings in Focus

Adjusted earnings per share came in at 27 cents, easily beating the Zacks Consensus Estimate of 22 cents and doubling the year-ago earnings of 16 cents. Revenues jumped 39% year over year to a record $8.77 billion and edged past the Zacks Consensus Estimate of $8.28 billion.

Earlier this month, Tesla reported record deliveries for the third quarter. The company produced 145,036 (128,044 Model 3 and Y, and 16,992 Model S and X) vehicles and delivered 139.300 (124,100 Model 3 and Y, and 15,200 Model S and X) vehicles. The deliveries jumped 54% from Q2 and topped the previous record of 112,000 set in the fourth quarter of 2019 while production increased 76% from Q2. The robust performance came on the back of higher demand for its mass-produced Model 3 sedans (read: Will Tesla ETFs Regain Momentum Post Record Q3 Deliveries?).

For the full year, the electric carmaker is on pace to deliver about 500,000 vehicles, up 36% from last year. It increased the Model 3 production at its Shanghai plant to 250,000 vehicles a year — its targeted production rate. However, to meet the guidance, the company has to deliver a blowout Q4 quarter with 181,650 deliveries given that 318.350 cars have been delivered this year.

Given the robust results, shares of Tesla spiked as much as 4.5% in aftermarket trading on elevated volumes. The stock currently has a Zacks Rank #3 (Hold) and VGM Score of B. It belongs to a top-ranked Zacks industry (in the top 26%).

ETFs to Buy

Investors seeking to tap Tesla’s growth should buy ETFs having a substantial allocation to this luxury carmaker. We highlight six of them in detail below.

iShares U.S. Consumer Goods ETF (IYK Quick QuoteIYK - Free Report)

This ETF offers exposure to U.S. companies that produce a wide range of consumer goods, including food, automobiles, and household goods by tracking the Dow Jones U.S. Consumer Goods Index. It holds about 96 stocks in its basket with Tesla occupying the second position at 11.5% allocation. The fund has amassed $605.4 million in its asset base while trades in a volume of about 41,000 shares. It charges 43 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook.

SPDR NYSE Technology ETF (XNTK Quick QuoteXNTK - Free Report)

This product provides exposure to the purely electronics-based technology companies by tracking the NYSE Technology Index. It holds 35 stocks in its basket with Tesla taking the top spot with 10.8% share. The ETF has amassed $497.9 million and charges 35 bps in annual fees. It trades in average daily volume of 28,000 shares and has a Zacks ETF Rank #2 (Buy) (read: 5 Top-Ranked Tech ETFs to Buy on Decade's Strongest PC Growth).

ARK Autonomous Technology & Robotics ETF (ARKQ Quick QuoteARKQ - Free Report)

This is an actively managed ETF seeking long-term capital appreciation by investing in companies that benefit from the development of new products or services as well as technological improvement and advancements in scientific research related to energy, automation and manufacturing, materials and transportation. This approach results in a basket of 39 stocks, with TSLA occupying the top spot with 9.9% share. The product has accumulated $632.3 million in its asset base and charges 75 bps in fees per year. It trades in volume of 256,000 shares a day on average.

Franklin Intelligent Machines ETF (IQM Quick QuoteIQM - Free Report)

This ETF provides access to companies developing technologies that support machine learning as well as those using automated processes. It holds 63 stocks in its basket with Tesla making up for the top firm at 10% of assets. The product has accumulated $3.4 million in its asset base since its debut in late February and charges 50 bps in annual fees. It trades in a light volume of 2,000 shares a day on average.

MicroSectors FANG+ ETN (FNGS Quick QuoteFNGS - Free Report)

This ETN is linked to the performance of the NYSE FANG+ Index, which is an equal-dollar weighted index, designed to provide exposure to a group of highly traded growth stocks of next-generation technology and tech-enabled companies. It holds 10 equal-weighted stocks in its basket with Tesla accounting for 10% share. The product has accumulated $56 million in its asset base and charges 58 bps in annual fees. It trades in average daily volume of 25,000 shares and has a Zacks ETF Rank #3 (read: Why You Should Buy Tesla ETFs Ahead of Q3 Earnings).

ARK Next Generation Internet ETF (ARKW Quick QuoteARKW - Free Report)

This is an actively managed fund focusing on companies that are expected to benefit from the shift in technology infrastructure to the cloud, enabling mobile, new and local services. The fund holds 51 stocks in its basket with Tesla occupying the top position at 9.7%. The ETF has amassed $2.4 billion in its asset base and charges 76 bps in annual fees. It trades in average daily volume of 738,000 shares.

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