Alternative Investments/AI: WisdomTree To Boost Thematic Lineup With AI ETF

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WisdomTree filed for the new ETF on September 10, 2021.

WisdomTree has filed to launch the WisdomTree Artificial Intelligence and Innovation Fund as a part of its thematic ETFs offering. The fund will track the performance of the WisdomTree Artificial Intelligence Index. (Seeking Alpha)

WisdomTree Artificial Intelligence and Innovation Fund

According to the filing, the ETF will employ a passive investment approach to track the performance of the index.

It will, therefore, generally invest in a sample of the securities in the Index whose risk, return and other characteristics resemble the risk, return and other characteristics of the index as a whole.

Investors will get exposure to equity securities of exchange-listed companies globally, which are primarily involved in the investment theme of Artificial Intelligence and Innovation.

Sectors

Companies should be performing the following activities for the ETF’s AI theme. A company must derive at least 50% of its revenue from one or more of these:

  • Software – companies that provide artificial intelligence software;
  • Semiconductors – companies that produce semiconductors or semiconductor equipment and technology;
  • Other hardware – companies that produce or develop hardware and technology essential for artificial intelligence applications (not semiconductors);
  • Diversified exposure – companies that have a broad or secondary revenue exposure to the artificial intelligence and machine learning space.

ESG angle

The index (and therefore, the new ETF), excludes companies that (i) violate, or are at risk of violating, certain commonly accepted international norms and standards, such as United Nations and the Global Standards Screening guidelines; (ii) are significantly involved in controversial weapons, such as biological, chemical, cluster, nuclear or white phosphorous weapons or in anti-personnel mines; (iii) are significantly involved in the tobacco industry; (iv) are significantly involved in thermal coal activity, such as coal mining and exploration and coal-based power generation; or (v) do not meet such other ESG criteria as detailed in the Index methodology.

The new fund will expand WisdomTree’s ETF lineup to 74 funds.

These have a cumulative $75B assets under management.

Related Story: WisdomTree Launches Income Fund Focused On Alternative Credit

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