A robot ETF has been leaving “pros in the dust, scoring wins on small-cap fliers”, reports Bloomberg. Everyone knows fund managers can’t keep up with benchmarks, and the last 12 months have been particularly grim. So when it turns out an exchange-traded fund supposedly driven by artificial intelligence has managed the feat, people take notice.
The AI Powered Equity ETF, ticker AIEQ, is up 11.81% from its debut a year ago through Wednesday, just edging out the S&P 500. That’s better than 87% of active managers over the stretch. How’d it do it? Pretty much the only way you could. By buying little-known companies that paid off big.