These are the top 10 holdings of the AI-driven investment fund powered by Watson that has been crushing the market this year
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Matthew Fox
Feb 7, 2023, 22:57 IST
Paulina Kappen, a student of research, development and management in social work at the Kiel University of Applied Sciences, demonstrates the capabilities of a robot used to care for dementia patients, in Hamburg, Germany, November 21, 2019.Axel Heimken/dpa/Getty Images
The AI Powered Equity ETF has doubled the performance of the S&P 500 so far in 2023.
The strong outperformance comes as investors grow more interested in artificial intelligence after the release of ChatGPT.
These are the top 10 holdings in the AI Powered Equity ETF that's driven by IBM's Watson.
The AIEQ ETF is actively managed and powered by IBM's Watson supercomputer. The fund utilizes machine learning, sentiment analysis, and natural language processing to pick the stocks in its portfolio. The portfolio analyzes companies via four quadrants, which include financial analysis, news, management, and macro.
According to DataTrek Research, the ETF is currently fully invested, as it holds just 0.2% in cash and 151 individual stock positions.
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"These moves seem to reflect the algorithm's conviction in the continuation of a broad-based US equity market rally," DataTrek co-founder Jessica Rabe said in a Tuesday note. "Given current valuations, the US equity market is not expecting an economic contraction and nor is AIEQ, just based on its current stock picks."
These are the top 10 holdings in the AI Powered Equity ETF that's driven by IBM's Watson supercomputer.
Ticker: UNH % of ETF: 3.6% Industry: Health Insurance
1. Novavax
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Ticker: NVAX % of ETF: 4.3% Industry: Biotechnology
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