If you are searching for the best artificial intelligence mutual fund, this article will help you. Artificial intelligence is unquestionably present in more areas than you might think. It’s the program that arranges your Netflix menu, the algorithm that speeds up your Amazon order, and the brains behind many of your favourite smartphone apps. Artificial Intelligence Mutual Fund offers exposure to a diverse set of the finest AI companies.
In the future, artificial intelligence will only get more intelligent and play a larger role in our daily lives. AI, which already has a market worth in the hundreds of billions of dollars, offers a wide range of practical applications, including facial recognition on smartphones, predictive search engines, smart home appliances, and self-driving automobiles.
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If you want to diversify your portfolio with AI companies but don’t want to identify specific AI stocks, you can invest in the best artificial intelligence mutual funds in 2023. AI mutual fund minimises the need to separately research and choose individual securities by providing exposure to a diverse range of the best AI companies. In this post, we’ll tell you about the best artificial intelligence mutual fund that will explode your stock investments in 2023.
List of the Best Artificial Intelligence Mutual Funds
Among so many options, we prepared a list of the best artificial intelligence mutual funds for you. So that, you will earn profit through your stock investment. Check out the 7 best artificial intelligence mutual funds in 2023.
Global X Robotics & Artificial Intelligence Mutual Fund
The Global X Robotics & Artificial Intelligence ETF was launched in 2016 to invest in companies that “stand to benefit from growing adoption and exploitation of robots and artificial intelligence.” These include companies active in autonomous vehicles, automation, non-industrial robots, and industrial robotics. BOTZ now owns 37 stocks. Its top five holdings, which represent over 40% of its assets, are as follows:
- UPST: Runs a cloud-based artificial intelligence lending platform that connects banks and other lenders with borrowers.
- Nvidia: A semiconductor manufacturer whose processors are utilised in a wide range of applications, including autonomous vehicles, virtual computing, and cryptocurrency mining, and are at the heart of many AI technologies.
- Intuitive Surgical: Intuitive Surgical is the creator of the da Vinci robotic surgical system, which enables minimally invasive surgeries with perfect control.
- Keyence: Japanese manufacturer of factory automation products like sensors and scanners.
- ABB: ABB is a Swiss manufacturer of industrial automation and robotics systems for utilities and infrastructure.
Invesco QQQ AI Mutual Fund
Invesco QQQ is a popular ETF that tracks the NASDAQ-100 Index. The NASDAQ-100’s assets are mostly concentrated in the technology and newly emerging telecommunications industries, making it essentially a technology fund. Although it is not a pure AI game, you will be exposed to several well-known artificial intelligence creators, producers, and beneficiaries.
ROBO Global Robotics and Automation Index ETF
The ROBO Global Robotics and Automation Index ETF is a stock exchange-traded fund that invests in firms that are bringing “transformative advances in robotics, automation, and artificial intelligence.” ROBO invests in companies primarily focused on AI, such as cloud computing and other technology firms.
ROBO owns 83 distinct equities, none of which account for more than 1.9% of the ETF’s value. Its top five holdings account for only about 9% of the fund’s entire value. These five firms include Intuitive Surgical and four others:
- iRhythm Technologies: It is a heart-monitoring-focused digital healthcare firm.
- Brooks Automation: It’s a production automation firm that offers a variety of services to semiconductor and life sciences firms.
- Stratasys: It is a manufacturer of 3D printing systems.
- Kardex Holding: It’s a Swiss logistics firm that specialises in automated storage systems.
WisdomTree Artificial Intelligence Mutual Fund
WTAI was founded in 2018. Investors concerned about social issues will be relieved to learn that the fund focuses on providing exposure to businesses that use AI technology in accordance with the WTAI’s Environmental and Social Governance (ESG) guidelines. It’s also reassuring to know that the Index firms for the fund are chosen and researched by an experienced AI team.
First Trust Nasdaq Artificial Intelligence and Robotics ETF
The First Trust Nasdaq Artificial Intelligence and Robotics ETF aims to follow the Nasdaq CTA Artificial and Robotics Index. It is composed of businesses working in the technological, industrial, and other sectors on robots and artificial intelligence.
The ETF, launched in 2018, increased during the pandemic, in part because tech equities make up more than 60% of its assets. The ETF presently holds 108 stocks, and the top five are Ambarella and four others:
- Gentex Corporation: The manufacturer of both automatic and manual automotive components is Gentex Company.
- Dynatrace: IT performance monitoring platform vendor Dynatrace.
- Elbit Systems: It is an Israeli company that produces goods for the military, domestic security, and commercial aviation industries.
- Cadence Design Systems: A designer of software and hardware building blocks for a variety of products.
L&G Artificial Intelligence UCITS ETF
AI expands its diversification by focusing on overseas technology equities. Another hopeful sign is that the administration of this new fund reinvests earnings, demonstrating a strong commitment to the cause. Check out Groww – the best mutual fund site in India.
iShares Robotics and Artificial Intelligence Mutual Fund
The iShares Robotics and Artificial Intelligence ETF seeks to replicate the performance of an index of developed and emerging market firms that may profit from long-term possibilities in robotics and artificial intelligence.
IRBO was founded in 2018 and currently manages less than $1 billion in assets. It is well-diversified, with 104 stock holdings. Many of its top assets also expose investors to rapidly rising small-cap companies. The top five investments of the fund, which account for approximately 6% of IRBO’s assets, are:
- Ambarella: It’s a semiconductor business that creates visual components for use on chips.
- Nemetschek: It is a German software business that serves the architecture, engineering, construction, media and entertainment industries.
- Hubspot: It’s a cloud-based customer relationship management software vendor.
- Alchip Technologies: It is a Taiwanese semiconductor business that specialises in design and manufacture.
- Splunk: It’s another cloud stock that employs artificial intelligence and machine learning to better its data platform.
These are all about the best artificial intelligence mutual funds in our opinion. It is provided solely for educational reasons, not intended to be investment advice. Before making any investment decisions, do your own research and consult with financial professionals. We are not responsible for the investment perspectives presented in the article. That’s all for now, stay tuned for more. And, thanks for reading!
Frequently Asked Questions
1) Which artificial intelligence mutual fund should you own?
The easiest way to choose an ETF is to look at the equities that the fund holds and how many of them are actual AI companies. The expense ratio, dividend yield, and track record of a fund are all relevant considerations. To enhance your diversification, consider investing in a basket of all four of these artificial intelligence ETFs.
2) Where should you put your $1,000 right now?
It pays to listen when our award-winning expert team has a stock tip. After all, their long-running newsletter, Motley Fool Stock Advisor, has tripled the market.