The Dan Ives Wedbush AI Revolution ETF (NYSEMKT: IVES), overseen by Dan Ives of Wedbush Fund Advisors, was launched on June 3 and aims to provide investors with access to 30 companies at the forefront of the artificial intelligence (AI) industry.
This actively managed ETF includes major players like Microsoft, Tesla, Apple, Nvidia, and others, with Microsoft holding the largest position at 5.65%. The fund charges an annual fee of 0.75% and will be rebalanced quarterly to reflect evolving trends in the sector.
Investors should be cautious due to the fund’s recent inception and the inherent risks associated with newer companies included in the ETF, such as SoundHound AI and C3.ai. Although it encompasses strong stocks, there is no performance history to evaluate and risks of underperformance against the broader market should be considered.
