The ROBO Global Robotics & Automation Index ETF (NASDAQ: ROBO), the original exchange traded fund dedicated to robotics investing, has a new milestone to celebrate. Last week, the ETF topped the prestigious $1 billion in assets under management mark.
The once far flung concept of robotics is gaining some momentum. For example, the International Federation of Robotics expects that worldwide sales of robots will rise by 6 percent between 2014 and 2016, and over 190,000 industrial robots will be supplied to companies around the globe in 2016, said ROBO Global in the statement. ROBO debuted in late 2013.
The ETF tracks “the ROBO Global Robotics & Automation Index, “which is the brainchild of a team deeply entrenched in the robotics industry who created the innovative methodology,” according to Dallas-based ROBO Global. “The index and subsequent ETF offer investors access to the entire value chain of robotics, automation and artificial intelligence. The ROBO Global Robotics & Automation Index is comprised of 83 global companies from 14 countries in North America, Europe, Asia and the Middle East and offers almost no overlap with traditional equity indices.”