BlackRock’s iShares has launched its ETF to track the growing robotics and artificial intelligence investment theme to help investors tap into innovative companies that have created rapid advancements across a variety of industries.

On Thursday, BlackRock launched the iShares Robotics and Artificial Intelligence ETF (NYSEArca: IRBO), which has a 0.47% expense ratio. The lower expense ratio for this category may help this late comer compete against other popular robotics ETF plays.

“Secular trends in technology aren’t confined to any one industry or geography, and that is particularly true for the broad-sweeping influence we see with robotics and AI driving innovation across all industries today,” Mark Alberici, head of iShares product innovation at BlackRock, said in a note. “Investors looking to capture these long-term technology shifts now have a targeted solution available that reaches around the globe to offer exposure to leaders in robotics and AI.”

Innovation in Robotics Technologies and A.I.

The new iShares Robotics and Artificial Intelligence ETF tries to reflect the performance of the NYSE FactSet Global Robotics and Artificial Intelligence Index, which is composed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and artificial intelligence, according to a prospectus.

The rules-based index that selects targets in the Robotics and AI value chain and equally weights components. The sub-sectors are related to robotics and artificial intelligence activities, including semiconductor manufacturing, software, internet and data services.

Related: Why ETF Investors Should Be Exposed to Robotics

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