Robotics refers to a branch of technology that deals with the design, construction, operation and applications of robots. Artificial Intelligence refers to the theory and development of computer systems that perform task normally requiring human intelligence.

Looking ahead, A.I. is expected to add up to $15.7 trillion in global GDP by 2030, according to PwC. Meanwhile, worldwide spending on robotics and related services is projected to total $97.2 billion in 2017, or a rise of 17.6% compared to 2016. Over the 2016 to 2021 forecast period, robotics spending could hit $230.7 billion in 2021 with an annual growth rate of 22.8%, according to IDC.

“Many of the technological developments taking place in AI, robotics, and automation are astounding, and we believe there are strong incentives, in both the public and the private sector, to find ways to harness these innovations,” Ryan Issakainen, Senior Vice President, ETF Strategist at First Trust, said in a note.

ROBT’s sector weights include information technology 67.7%, industrials 15.7%, consumer discretionary 8.7%, health care 7.4% and telecom services 0.6%. Top components include ServiceNow 2.53%, Hexagon AB 2.43%, Dassault Systemes S.A. 2.36%, Cloudera 2.34% and AVEVA Group Plc 2.30%.

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