Following the AI craze, BlackRock (BLK.US) launches two new AI ETFs
1min read BlackRock (BLK.US) on Tuesday launched two new actively managed funds focused on technology growth and artificial intelligence, bolstering its ETF product lineup.
The world's largest asset manager said it believes the long-term impact of artificial intelligence will be "profound," despite it still being in its early stages.
"We are at the dawn of an intelligent revolution," said Tony Kim, head of the firm's Fundamental Equity Technology sector, in a statement. "These active ETFs can help investors capture the significant and overlooked investment opportunities in AI and advanced technology."
Here's information on the two new ETFs:
iShares ai Innovation and Tech Active ETF (BAI.US)
Target: Concentrated investment in 20-40 global AI and technology stocks across all markets.
Holdings: 34
Top three holdings: Nvidia (NVDA.US), Meta (META.US) and Microsoft (MSFT.US).
Expense: 0.68%.
iShares Technology Opportunities Active ETF (TEK.US)
Target: Investment in global technology companies in semiconductors, software, hardware, internet, services, content and infrastructure, as well as emerging industries.
Holdings: 57
Top three holdings: Nvidia, Microsoft and Apple (AAPL.US).
Expense: 0.75%.
Existing funds focused on AI and technology also include: General Artificial Intelligence ETF-AGIX (AGIX.US), AI and Technology ETF-Global X (AIQ.US), Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ.US), ALPS Disruptive Technologies ETF (DTEC.US), First Trust NASDAQ Artificial Intelligence and Robotics ETF (ROBT.US), Robo Global Artificial Intelligence ETF (THNQ.US), and Roundhill Generative AI & Technology ETF (CHAT.US).
