MarketWatch: “Here’s what the robot fund that’s beating the S&P 500 is investing in now”By admin_45 in IN THE NEWS
Excerpt from MarketWatch quoting DataTrek:
.... "Maybe one day it will be easier, when the robots can do the thinking for us. That brings us to our call of the day, which comes from the DataTrek Research blog, who wonders whether a fund that relies on artificial intelligence for investing ideas and is heavy on tech stocks right now knows something we don’t.
DataTrek notes the AI Powered Equity AIEQ, -0.38% exchange-traded fund is up 12% year to date, versus a 2.6% gain for the S&P 500 SPX, -0.12%, and for 2020 was up 25%, versus an 18% gain, respectively. It has gained 101% from the March COVID-19 pandemic lows, versus a 72% gain for the S&P.
Electric-car maker Tesla TSLA, 0.58%, solar solutions group SunPower SPWR, 2.32%, chip group Advanced Micro Devices AMD, 0.92%, energy technology group Enphase Energy ENPH, -2.90%, and tech giant Alphabet GOOGL, 0.16% are the top five holdings.
What DataTrek found was the fund’s top picks are more tech heavy than last October, when more cyclical flavored stocks such as health care group Pfizer PFE, -0.11% and automobile maker Ford F, -1.15% made it into the top 10"....
Read the full article here in MarketWatch!