Global X Funds, an exchange traded fund provider known for its targeted or niche investment strategies, expanded on its tech sub-sector options with a Robotics & AI, FinTech and Internet of Things themes.
On Tuesday, Global X launched the Global X FinTech Thematic ETF (NasdaqGM: FINX), Global X Robotics & Artificial Intelligence Thematic ETF (NasdaqGM: BOTZ) and Global X Internet of Things Thematic ETF (NasdaqGM: SNSR). The three new ETFs each come with a 0.68% expense ratio.
“Robotics & AI, FinTech, and the Internet of Things are among the most significant emerging technological trends in the world as they are set to disrupt a broad range of industries and change how we interact with ordinary things like banks, cars, and even refrigerators.” Jay Jacobs, director of research of Global X, said in a press release. “Our aim with launching these funds is to provide investors with tools to efficiently gain exposure to the companies that are well-positioned to grow from these technological revolutions.”[related_stories]
FINX targets companies on the leading edge of emerging financial technology industry, which includes a range of innovations that caters toward businesses engaged in insurance, investing, fundraising and third-party lending through unique mobile and digital solutions.
Specifically, top sub-sectors include data processing & outsourced services 41.9%, application software 35.1%, internet software & services 7.3%, consumer finance 3.8% and managed health care 3.4%. Top holdings include First Data Corp 6.1%, SS&C Technologies Holdings 5.8% and Wirecard 5.6%.
The fund also includes international exposure. U.S. makes up 67.6% of the ETF’s portfolio, followed by Germany 7.8%, Switzerland 7.2%, Australia 5.8%, Isle of Man 4.7%, Denmark 4.1% and Cayman Islands 2.8%.
FINX will also be competing against the recently launched PureFunds Solactive FinTech ETF (NasdaqGM: FINQ).