Happy Wednesday! We are now in the ninth week of Benzinga's six-month series, “Is ChatGPT A Better Financial Advisor?” If you’ve been following our journey (or even if you haven’t and this is your first visit), buckle up — it's time to show and tell.
Our AI-powered journey with OpenAI’s ChatGPT, pitted against 10 of the leading U.S. equity funds, continues in its pursuit to answer: Is ChatGPT a better financial advisor?
A quick recap for our newcomers: ChatGPT was given a hypothetical $10,000 to create a portfolio, intended to outperform several leading U.S. equity funds.
So, how did Benzinga's AI-curated portfolio fare in the eighth week, particularly against prominent ETFs like the SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust Series 1 QQQ?
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The performance tracking began on May 10: Let's get into it.
| Fund/ETF | 8-Week Performance |
| SPDR S&P 500 | +8.26% |
| Invesco QQQ Trust | +14.8% |
| Schwab Total Stock Market Index Fund | +7.27% |
| Vanguard Growth Index Fund | +12.24% |
| Vanguard Value Index Fund | +4.34% |
| iShares MSCI EAFE ETF | -0.43% |
| Vanguard Total International Bond Index Fund | -0.99% |
| Fidelity Contrafund | +9.08% |
| T. Rowe Price Growth Stock Fund | +10.85% |
| Fidelity Total Market Index Fund | +8.13% |
| ChatGPT | 8-Week Performance |
| Benzinga's ChatGPT Portfolio | +8.87% |
It has been eight weeks into our experiment and ChatGPT's portfolio is essentially deadlocked with last week. Retaining its position in the top five, Benzinga's ChatGPT Portfolio remains a key player in this competition.
The star of our portfolio, Tesla Inc TSLA remains in the lead, up 62.24% since the position was taken. On the other hand, Nike Inc NKE continues to lag, down 7.56% since Benzinga began the experiment.
Benzinga remains committed to holding all positions for the six-month duration of the experiment.
Curious about the specific stocks in Benzinga's AI portfolio? Click here.
You can also look at last week's results here.
It's crucial to keep a long-term perspective as results are evaluated. This experiment will run for six months, and as the saying goes, investing is a marathon, not a sprint. Regular fluctuations in the leaderboard are to be expected.
The aim of this series isn't to present AI as a substitute for human financial advisors. Instead, it aims to highlight AI's potential as a tool to aid investment decisions. While ChatGPT is an advanced AI, it lacks the ability to process real-time data or evaluate personal financial situations — but that may change soon.
And while ChatGPT isn't a licensed financial advisor, our experiment contributes to the ongoing conversation about AI's role in finance.
Join Benzinga next Wednesday for the next installment of the "Is ChatGPT A Better Financial Advisor?" series. Benzinga looks forward to seeing how week nine unfolds for the AI-curated portfolio.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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