AI has taken the U.S. investing world by storm over the last several weeks. Since the big coming-out party for OpenAI’s ChatGPT bot, AI has become a dominant theme. Whether helping firms like NVIDIA (NVDA) report positive earnings or breathing new life into crypto, AI has taken over. Amid that turn, a notable AI Innovation ETF from WisdomTree has jumped. The WisdomTree Artificial Intelligence and Innovation Fund (WTAI) saw its AUM more than double over the week ending June 2nd.
WTAI has added about $30 million in that time, taking it from about $29 million in AUM to nearly $60 million, according to LOGICLY. That follows just $55.5 million in net inflows over one year, kicking off in January. It also can claim $10 million coming in the week before last. The AI Innovation ETF has likely ridden that aforementioned spike in AI interest, inviting a closer look at the strategy.
See more: “Get Real With AI in AI Supply Chain ETFs Like WTAI”
WTAI tracks an equally-weighted list of global AI-related stocks. The strategy applies the usual 50% revenue standard for AI activities, including software, semiconductors, and machine learning products among others. That combination of a focus on AI innovation and the AI supply chain likely explains a significant portion of those flows. WTAI weights NVDA as its largest stock among equals at 2.6%, according to VettaFi’s ETF holdings analysis.
WTAI also holds silicon design firm Synopsys (SNPS) as its third-largest a 2.2% and Taiwan Semiconductor (TSM) at 2% flat. According to LOGICLY, WTAI has returned 13.9% over the last month and 15% over the last three months. That performance also helps explain the flows, following returns among other reasons in this case.
Investors have plenty of intriguing AI options out there, but WTAI’s spike merits another look. For those looking for an AI innovation ETF that combines supply chains with pushing the AI frontier, WTAI stands out.
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