Tesla (NASDAQ: TSLA) is a fan favorite among many individual investors. And even after the stock's decline over the past year or so, it has still been a rewarding stock over the long term.

But as great as the automaker's historic returns have been, it's usually a bad idea to go all-in on a single stock or industry. The good news is that there are plenty of exchange-traded funds (ETFs) with the company as a core holding.

Investors looking to build a portfolio around Tesla might be interested in the Consumer Discretionary Select Sector SPDR Fund (NYSEMKT: XLY), the Ark Innovation ETF (NYSEMKT: ARKK), or the First Trust Nasdaq Clean Edge Green Energy Index Fund (NASDAQ: QCLN). Here are the pros and cons of each ETF.

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Source Fool.com