More Than A Third Of AI-Based ETFs Were Launched In 2024, Focusing On Nvidia, Microsoft, Apple And Meta, Among Others: Here's How Some Of Them Have Performed This Year So Far
Portfolio Pulse from Pooja Rajkumari
AI-themed ETFs are gaining traction, with over a third launched in 2024, focusing on companies like Nvidia, Microsoft, Apple, and Meta. The total assets of AI ETFs have reached $4.5 billion. Notable ETFs like BOTZ, AIQ, IYW, and FTEC have shown significant growth, driven by the AI boom.
October 28, 2024 | 8:56 am
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POSITIVE IMPACT
Apple remains a key player in AI, contributing to the growth of ETFs like IYW and FTEC.
Apple's involvement in AI technologies supports the performance of ETFs that include it as a major holding.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Global X Artificial Intelligence & Technology ETF (AIQ) increased by 43.64%, with top holdings including Oracle, Cisco, and Meta.
AIQ's performance is bolstered by its investments in major tech companies benefiting from AI advancements.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Global X Robotics and Artificial Intelligence ETF (BOTZ) has climbed 40.39% this year, driven by top holdings like Nvidia and Intuitive Surgical.
BOTZ has shown significant growth due to its focus on AI-related companies like Nvidia, which are benefiting from the AI boom.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fidelity MSCI Information Technology Index ETF (FTEC) saw a 48.55% growth, with holdings in Apple, Microsoft, Nvidia, Alphabet, and Broadcom.
FTEC's performance is enhanced by its focus on major tech firms that are leveraging AI for growth.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares US Technology ETF (IYW) gained 50.72%, with exposure to Apple, Nvidia, Microsoft, and Broadcom.
IYW's growth is attributed to its holdings in leading tech companies that are at the forefront of AI technology.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Meta's involvement in AI is a key driver for the performance of ETFs like AIQ.
Meta's focus on AI technologies supports the growth of ETFs that include it as a significant holding.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Microsoft's AI initiatives are a significant factor in the growth of ETFs like IYW and FTEC.
Microsoft's advancements in AI contribute to the positive performance of ETFs that hold its stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nvidia's AI supercomputing chips have driven its growth, briefly making it the world's most valuable company.
Nvidia's leadership in AI technology has significantly boosted its market value, reflecting the growing demand for AI solutions.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90