Recently, Amundi released the Amundi Stoxx Global Artificial Intelligence UCITS ETF, an AI tracking ETF. The ETF geared towards aiding investors to tap into various opportunities provided by artificial intelligence, which makes up one of the core megatrends behind future economic growth.
According to Amundi, artificial intelligence (AI) is an integration of different technologies including computer vision, natural language processing, and machine learning. What’s more, the technology is anticipated to impact all geographies and sectors considerably in the coming years.
Amundi said the ETF provides the opportunity to invest now, particularly in companies that are greatly exposed to the potential growth opportunities of AI. The Amundi Stoxx Global Artificial Intelligence UCITS ETF is provided with ongoing charges of 0.35%.
It helps in tracking the Stoxx AI Global Artificial intelligence ADTV5 index, which leverages a revolutionary methodology. The systematic selection process evaluates stocks based on two metrics including:
- AI exposure: it is measured as the fraction of AI patents given to a company in a three-years‘ duration in comparison to all the patents given to that particular company during the same period.
- AI contribution: it is measured based on the number of patents given to the company in three years in relation to the total AI patents granted to all companies during the same duration.
The Stoxx AI Global Artificial intelligence ADTV5 index is not only equally weighted but also provides diversification across market capitalization, sectors and nations.
“We’re particularly excited to be able to offer investors the innovative ETF which provides a cost-efficient way to gain exposure to artificial intelligence, a key driver of future growth.
Product innovation is one of the core principles of Amundi ETF and this new listing demonstrates our commitment to providing our clients with new solutions for their long-term investment objectives, “said the Managing Director of Amundi ETF, Indexing & Smart Beta Fannie Wurtz.