iShares Future AI & Tech ETF (ARTY) Stock Price, Quote, News & History | Benzinga

The Fund seeks to track the investment results of the Morningstar Global Artificial Intelligence Select Index, which measures the performance of equity securities issued by companies with exposure to artificial intelligence technologies, including generative AI, AI data and infrastructure, AI software, and AI services, as determined by the equity research team of Morningstar, Inc. The Underlying Index is a subset of the Morningstar Global Markets Index, which represents approximately the top 97 percent of the global investable equity market capitalization. The eligible universe of securities in the Underlying Index includes the Parent Index, excluding companies in India or the Peoples Republic of China and companies with an average three month trailing daily trading volume of less than 2 million dollars and float market capitalization of less than 300 million dollars. The Index Provider scores companies in the eligible universe on a four point thematic exposure scale based on exposure to at least one AI subtheme and then assigns each company to one of three tiers. Morningstar considers each company's role in the AI subtheme value chain, expected net profit increase from exposure to at least one AI subtheme and the portion of revenue expected to be derived from each AI subtheme over the next five years. Many of the companies included in the eligible universe of securities for the Underlying Index may not currently earn the majority of their income from AI related activities. Companies with a score of 2 or higher on the generative AI subtheme are assigned to Tier 1, and the rest are classified as either Tier 2 or Tier 3. All companies with a score of at least 2 across any one of the three other AI subthemes are assigned to Tier 2. Companies with an aggregate score of at least 3 across all four AI subthemes are also assigned to Tier 2. All remaining companies with a non zero score on at least one AI subtheme are assigned to Tier 3.