Another exchange-traded fund focused on artificial intelligence (AI) has entered the market with the launch of the KraneShares Artificial Intelligence and Technology ETF (NASDAQ:AGIX) on Thursday. Investors are eager to gain more exposure to the AI trend.
The latest AGIX fund aims to track the Solactive Etna Artificial General Intelligence Index, which targets companies involved in developing and utilizing AI technologies. The fund will concentrate on AI hardware, infrastructure, and applications.
AGIX has an annual operating expense of 1.00% and holds 40 companies, with Microsoft (MSFT), Nvidia (NVDA), and Apple (AAPL) being the top three holdings, representing 23.19% of the fund.
Brendan Ahern, CIO of KraneShares, commented on the launch, stating: “Generative AI has the potential to create trillions in annual value across different sectors and is set to revolutionize the global economy. AGIX provides investors with a way to participate in this technological advancement.”
Additionally, AGIX will face competition from other AI-themed ETFs, such as:
- GX Artificial Intelligence & Tech ETF (AIQ)
- GX Robotics & Artificial Intelligence ETF (BOTZ)
- ALPS Disruptive Technologies ETF (DTEC)
- iShares Robotics and Artificial Intelligence Multisector ETF (IRBO)
- First Trust NASDAQ Artificial Intelligence and Robotics ETF (ROBT)
- Robo Global Artificial Intelligence ETF (THNQ)
- Roundhill Generative AI & Technology ETF (CHAT)
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