It's Wednesday, that means it's time for the seventh chapter of Benzinga’s ongoing “Is ChatGPT a Better Financial Advisor?” series.
The real-time, interactive experiment, which pits OpenAI's ChatGPT against 10 of the leading U.S. equity funds, with the goal of answering the question — is ChatGPT a better financial advisor?
If you’re new here, the game is simple: ChatGPT was given a hypothetical $10,000 to build an investment portfolio with the goal of outperforming other leading U.S. equity funds.
Now, let’s dive into the results of the week six and see how our AI-powered portfolio measured up against benchmark ETFs like the S&P 500 SPY and Invesco QQQ Trust Series 1 QQQ.
Our performance tracking began on May 10.
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| Fund/ETF | 6-Week Performance |
| SPDR S&P 500 | +5.72% |
| Invesco QQQ Trust | +12.36% |
| Schwab Total Stock Market Index Fund | +6.2% |
| Vanguard Growth Index Fund | +9.77% |
| Vanguard Value Index Fund | +1.56% |
| iShares MSCI EAFE ETF | -2.37% |
| Vanguard Total International Bond Index Fund | +0.16% |
| Fidelity Contrafund | +7.69% |
| T. Rowe Price Growth Stock Fund | +4% |
| Fidelity Total Market Index Fund | +6.21% |
| ChatGPT | 6-Week Performance |
| Benzinga's ChatGPT Portfolio | +6.43% |
Halfway through the second month, ChatGPT’s portfolio is holding on, outflanking seven out of the top 10 funds. With a slight loss from last week, ChatGPT's returns sit at 6.43%, affirming its position in the top tier of our experiment.
Continuing its strong performance, Tesla Inc TSLA still tops our portfolio leaderboard, now up 52.1% since we took the position. On the flip side, AbbVie Inc ABBV slipped, becoming our biggest laggard with an 8.58% loss since we opened the position.
We continue to hold all positions, as per our six-month commitment.
Want to peek into the specific stocks in Benzinga's AI portfolio? Click here.
You can also revisit last week's results here.
As we assess the results, it’s critical to maintain a long-term perspective. Remember, this is a six-month-long experiment. Investing is a marathon, not a sprint, and fluctuating leaderboards are par for the course.
The goal of this series isn’t to pitch AI as a replacement for human financial advisors, but to explore AI’s potential as a tool to assist in investment decisions. ChatGPT, despite its sophistication, lacks the ability to process real-time data or assess individual financial circumstances.
While it’s certainly not a licensed financial advisor, our experiment enriches the conversation about AI’s place in finance.
Join Benzinga next Wednesday for another installment in the series, “Is ChatGPT A Better Financial Advisor?” We're excited to see how week seven pans out for the AI-crafted portfolio.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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