If you have a retirement account, you probably just became a Tesla investor.
No, Elon Musk didnt gift you shares of the electric carmaker.
So how did you become a Tesla investor without even noticing?
Theyre passively managed, which means the fund manager doesnt decide what to invest in.
They buy and sell shares so that the funds makeup and performance reflects the index.
How Did Tesla Join the S&P 500?
A notoriously secretive investment committee decides what companies are included on the S&P 500.
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Tesla was rejected by the S&P 500 committee in September before getting the thumbs-up in November.
We dont know the why behind either decision, given how tight-lipped that committee is.
But its likely that the stocks reputation for volatility had something to do with its initial rejection.
The carmaker is the largest company to join the S&P 500 in the indexs 90-plus-year history.
Should You Care That Youre a Tesla Investor?
Sure, Teslas stock has a reputation for being volatile.
Tesla may get a lot of hype.
But how the other 499 stocks in the index perform matters way more to you.
Robin Hartill is a certified financial planner and a senior editor at The Penny Hoarder.
She writes the Dear Penny personal finance advice column.
Send your tricky money questions to[email protected].
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