Another exchange-traded fund centered around artificial intelligence (AI) has come to the market, with the launch of the KraneShares Artificial Intelligence and Technology ETF (NASDAQ:AGIX) on Thursday, as investors continue to look for further exposure to the AI craze.
The latest AGIX fund looks to track the Solactive Etna Artificial General Intelligence Index, which is designed to capture the performance of companies engaged in developing and applying AI technologies. Moreover, the fund will focus on three key categories, including AI focused hardware, infrastructure, and applications.
From a specs prospective, AGIX comes attached with a total annual operating expense of 1.00%, and 40 holdings with Microsoft (MSFT), Nvidia (NVDA), and Apple (AAPL) as it’s three largest holdings that together represent 23.19% of the fund.
Regarding the launch, Brendan Ahern, CIO of KraneShares, said: “With the potential to add trillions in annual value across various sectors, generative AI is poised to be a transformative force in the global economy, and AGIX offers investors a way to participate in this technological revolution.”
Moreover, AGIX will also find itself competing for market share at some level with other artificial intelligence themed ETFs, including the following:
- 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)
