Well, one of them anyway, but the benefits of having a large weight to Tesla Inc (NASDAQ:TSLA) are becoming more apparent with the ARK Innovation ETF (NYSE:ARKK).

What To Know: ARKK allocates 10.38% of its weight to shares of the high-flying electric vehicle maker, good for one of the largest allocations to Elon Musk's company among all exchange-traded funds. Data confirm investors like that allocation.

“Traders put almost $180 million into the Ark Innovation ETF (ARKK) in the five-day period ended Friday, the most since it began trading in 2014,” according to Bloomberg. “That was the actively managed fund’s 17th straight week of inflows.”

Why It's Important: Tesla's 2020 ascent is palpable for ARKK in multiple ways.

First and most importantly, the ARK fund is higher by 38.58%. Second, the aforementioned Bloomberg statistic doesn't even scratch the surface of investors' enthusiasm for ARKK this year. The fund has taken $1.66 billion in new assets since Jan. 1, boosting its assets under management tally to $4.57 billion while making it the largest equity-based actively managed ETF in the process.

“Companies within ARKK include those that rely on or benefit from the development of new products or services, technological improvements and advancements in scientific research relating to the areas of DNA technologies ('Genomic Revolution'), industrial innovation in energy, automation and manufacturing ('Industrial Innovation'), the increased use of shared technology, infrastructure and services ('Next Generation Internet’), and technologies that make financial services more efficient ('Fintech Innovation'),” according to ARK.

In other words, ARKK is getting a lift from more than just Tesla. Invitae (NASDAQ:NVTA) and Square (NYSE:SQ), just name two, are helping the fund soar.

What's Next: “Tesla, which makes up almost 10% of ARKK, could continue to capitalize on the transition to electric vehicles and renewables that might be sped up by the Covid-19 pandemic,” according to Bloomberg.

With Tesla trading around $1,000, effectively freezing out plenty of retail investors, ARKK is a credible avenue for exposure to the stock.

And if ARKK's Tesla weight isn't enough, investors can consider the ARK Autonomous Technology & Robotics ETF (CBOE:ARKQ). That ARK fund, which is also actively managed, devotes almost 13% of its weight to Tesla.

Investors put $92.39 million in ARKQ since the start of the year.