Artificial Intelligence ETFs: Have They Beaten The Market In 2024?

Zinger Key Points
  • Investor enthusiasm in artificial intelligence has propelled several AI-focused ETFs to prominence.
  • While AI equities such as NVIDIA have performed extremely well, AI ETFs have not outperformed the market.

Artificial intelligence companies have captivated the markets as the proliferation of AI looks to be a major disruptor in several industries. Investors have poured funds into AI exchange-traded funds (ETFs) to diversify their portfolios.

The largest AI ETFs are the Global X Robotics & Artificial Intelligence ETF BOTZ, the Global X Artificial Intelligence & Technology ETF AIQ and the ROBO Global Robotics And Automation Index ETF ROBO. A question to ask is: Have they beaten the overall market?

BOTZ ETF: According to data compiled from, the BOTZ ETF is the largest AI ETF with $2.76 billion in assets under management. BOTZ has appreciated by 10.63% in year-to-date 2024.

BOTZ’s largest holdings are NVIDIA Corp NVDA,10.45%; ABB Ltd ABBNY, 9.24% and Intuitive Surgical, Inc. ISRG, 8.24%, all of which have performed well in 2024. Other holdings such as UiPath Inc PATH and Fanuc ADR FANUY have underperformed.

Also Read: Chip Stocks On The Rise: Nvidia, Micron, Qualcomm Propel SMH And SOXX ETFs To New 52-Week Highs

AIQ ETF: The AIQ ETF has $1.88 billion in assets under management while appreciating by 10.33% in year-to-date 2024.

AIQ’s largest holdings are in NVIDIA, 4.84%; Tencent Holdings Ltd. TCEHY, 3.97% and Qualcomm Inc QCOM, 3.66%: these equities have outperformed the market in 2024.

ROBO ETF: The ROBO ETF has $1.27 billion in assets under management; ROBO has traded down 0.94% in 2024.

ROBO’s holdings are more equally weighted than their AI ETF counterparts. ROBO could not capitalize as much on NVIDIA’s performance as it comprises just 1.82% of the ETF’s assets. Holdings such as Autodesk, Inc. ADSK, 0.95% and OMRON Corp OMRNY, 1.25%, are down in 2024.

S&P 500 Performance: None of the aforementioned AI ETFs were able to outperform the SPDR S&P 500 ETF Trust SPY, which tracks a diversified assortment of 500 of the largest U.S. equities. The S&P has appreciated by 11.46% in 2024. Much of the S&P 500’s performance can be attributed to its increasingly high weight in tech giants such as NVIDIA, 5.79%; Microsoft Corp MSFT, 7.17% and Inc AMZN, 3.74%.

(Share price data taken at the time of writing on Wednesday.)

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