Related: EventShares Launches Trio of Political ETFs

Khatua notes that the approach underpinning AIEQ also includes machine learning, giving it the ability to automatically learn and improve from experience without being explicitly programmed.

“Machine learning is one of the most powerful applications of artificial intelligence,” he added. “As powerful as many algorithms underlying expensive quantitative hedge funds and other vehicles might be, unless they’re also built with AI and machine learning baked right in, mistakes can be propagated and opportunities for outperformance can be missed.”

AIEQ may invest in the securities of companies of any market capitalization and will have an expense ratio of 0.75%.

AIEQ joins the likes of BUZ US Sentiment Leaders ETF (BUZ), which launched in April 2016, that uses AI to identify sentiment at the individual stock level.

For more information on new fund products, visit our new ETFs category.