Helping investors better capitalize on the moves in the quickly developing robotics, artificial intelligence and automation industry, Direxion has rolled out the first leveraged robotics-related exchange traded fund.
On Thursday, Direxion launched the Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 3X Shares (NYSEArca: UBOT), which has a 1.07% expense ratio.
The Daily Robotics, Artificial Intelligence & Automation Index Bull 3X Shares tries to reflect the 3x or 300% long daily performance of the Indxx Global Robotics and Artificial Intelligence Thematic Index.
“The robotics, artificial intelligence, and automation industries are rapidly growing and evolving,” Sylvia Jablonski, Managing Director at Direxion, said in a note. “The launch of UBOT allows traders to take a bold position in companies that are on the forefront of technology.”
The underlying index is designed to provide exposure to companies in developed markets that are expected to benefit from the adoption and utilization of robotics and/or artificial intelligence, including companies involved in developing industrial robots and production systems, automated inventory management, unmanned vehicles, voice/image/text recognition, and medical robots or robotic instruments.