Robotaxis Are Here—And This New ETF Is Backing Tesla, Alphabet, And Baidu

After years of demos, pilots, and breathless conference panels, robotaxis are finally picking up paying passengers at scale. That shift from promise to revenue is the push behind Roundhill Investments' latest ETF launch.

Roundhill on Wednesday rolled out the Roundhill Robotaxi, Autonomous Vehicles & Technology ETF (BATS:CABZ), an actively managed fund targeting the fast-maturing autonomous driving ecosystem. The launch comes at a time when self-driving fleets are moving beyond tightly controlled city trials and into broader commercial deployment, with 2026 widely viewed as a breakout year for real-world adoption.

Dave Mazza, CEO of Roundhill Investments, said that robotaxis are reaching an inflection point, citing accelerating ride volumes, miles driven, and commercial activity. In market terms, autonomy is starting to look less like a moonshot and more like a business model.

The data is beginning to support that. Alphabet, Inc (NASDAQ:GOOGL)–backed Waymo said its ridership tripled in 2025 to about 15 million rides, with the potential to hit 20 million by year-end. In China, operators including Baidu Inc (NASDAQ:BIDU), WeRide Inc (NASDAQ:WRD), and Pony AI Inc (NASDAQ:PONY) are scaling beyond major metros, expanding into markets across the Middle East and Europe. Goldman Sachs estimates the robotaxi market could reach $7.3 billion in North America and $11.7 billion in China by 2030, with U.S. growth potentially approaching 90% annually.

CABZ aims to capture that momentum across the entire value chain rather than betting on a single winner. The fund invests globally in companies tied to autonomous mobility, spanning vehicle manufacturers, platform operators, and technology suppliers across hardware, software, AI, and automation.

The ETF's top holdings reflect that ecosystem approach. Tesla Inc (NASDAQ:TSLA) leads the portfolio at 8.42%, tied to its autonomous ambitions and Cybercab concept. Alphabet follows through Waymo, alongside Uber Technologies Inc (NYSE:UBER), which plays a key enabling role as ride-hailing platforms integrate autonomous fleets. Chinese leaders Baidu, WeRide, and Pony AI round out the core exposure to robotaxi, underscoring China's central role in global AV deployment.

CABZ also leans into the "picks-and-shovels" trade. Aeva Technologies Inc (NASDAQ:AEVA), Hesai Group (NASDAQ:HSAI), and RoboSense supply LiDAR systems critical for vehicle perception, while Nvidia Corp (NASDAQ:NVDA) anchors the AI compute powering advanced driver-assistance and autonomous systems.

Roundhill's bet is that investors no longer need to choose between pure-play AV developers and diversified tech giants. Instead, CABZ bundles the full robotaxi stack into a single, actively managed ETF.

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