Latest news with #WedbushFundAdvisors
Yahoo
5 days ago
- Business
- Yahoo
Wedbush and Dan Ives Launch AI Revolution ETF
Tech analyst Dan Ives believes he has identified the most important companies driving artificial intelligence innovation today. He and Wedbush Fund Advisors launched the firm's inaugural ETF Wednesday — the Dan Ives Wedbush AI Revolution ETF (IVES). The fund, based on Ives' proprietary research, targets companies leading the charge in robotics, semiconductor chips, retail products, and of course, AI. It's the old California gold rush 'picks and shovels' strategy. 'AI isn't just about the Mag 7,' Ives told Advisor Upside. 'It's the software, the consumer, the infrastructure, the cybersecurity players.' The fund had net assets of more than $26 million as of Wednesday, an expense ratio of 0.75%, and a net asset value of $25.35. AI is likely going to be as monumental as the printing press or the internet, but do advisors have much enthusiasm for products that specifically target the sector? READ ALSO: There's Almost 600K More Millionaires. That's Not Necessarily a Good Thing and Goldman, Morgan Stanley, JPMorgan Layoffs to Hit Northeast There are plenty of AI-focused ETFs already, including Global X Artificial Intelligence & Technology ETF (AIQ), Defiance Quantum ETF (QTUM), and iShares Future AI & Tech ETF (ARTY) which collectively hold more than $5.5 billion in assets, according to data compiled by Morningstar Direct. As of the end of May, AI and robotics ETFs in the US alone have taken in nearly $1.3 billion. However, many of those funds also include holdings that aren't AI-specific. For example, ARTY has plenty of exposure to multiple foreign currencies. IVES, on the other hand, is more limited: It's made up of just 30 holdings, including all of the Mag 7. It also has a few names clients may not be aware of, like cybersecurity firm Zscaler, software-maker Pegasystems, and nuclear power company Oklo. 'Investors miss a core part of the theme by not playing the second and third derivatives,' Ives said. Wedbush Funds CIO Cullen Rogers added that the fund allows large-cap leaders like Nvidia and Microsoft to carry influence without overpowering the portfolio, and it gives smaller names 'a seat at the table.' Making Waves? Though AI is being viewed as the fourth industrial revolution and has been responsible for major investor returns of late, AI ETFs — and thematics in general — are a tough sell for advisors, said Bryan Armour, director of ETF & passive strategies research at Morningstar. 'Investors, and advisors alike, got burned by thematic ETFs in 2022, so they've failed to generate as much interest since then,' he told Advisor Upside. Plus, clients already have significant exposure to AI companies when they invest in the S&P 500 or Nasdaq. 'We have definitely seen how advisors have been putting some of the legacy AI thematic ETFs to work in client portfolios, but we've also seen advisors start to realize that most 'AI' ETFs are little more than the MAG 7 with high fees,' said Adam Patti, CEO of VistaShares. This post first appeared on The Daily Upside. To receive financial advisor news, market insights, and practice management essentials, subscribe to our free Advisor Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-02-2025
- Business
- Yahoo
Legacy Firm Wedbush's First Ever ETF to Focus on AI
Wedbush, a 70-year-old financial services firm based in Los Angeles, has filed with the Securities and Exchange Commission to enter the ETF space. According to the filing, the proposed Wedbush IVES AI Revolution ETF will track an index of the same name, which is comprised exclusively of securities included in the Dan Ives AI 30 Research Report. THe filing did not include a ticker or proposed fees as yet. Ives is the head of technology research at Wedbush Securities. The AI Report is a 'periodically released, publicly available research report, comprising companies that have been identified as significant creators, enablers or adopters of artificial intelligence technologies through their strategic focus, partnerships, innovation, product development or integration of AI into their operations,' according to the filing. 'ETF creation is a logical progression for Wedbush as we continue to provide efficient solutions to our investor clients,' CEO Gary Wedbush said in a press statement. The firm also said it plans future exchange-traded fund launches. Wedbush is a diversified financial services firm that includes a broker-dealer, investment banking, research, a robo-advisor platform and an $8.9 billion wealth management division. Wedbush was involved in the ETF space about seven years ago through an investment in an ETF issuer, but that connection dissolved when the ETF advisor was acquired. 'After exiting that position, we decided we had the infrastructure, but we hadn't been taking advantage of our best ideas, which we want to do in the ETF wrapper,' said Matt Bromberg, chief operating officer of Wedbush Fund Advisors. Bromberg was unable to discuss details of the ETF in filing or talk about Wedbush's specific plans for developing a footprint in the $11 trillion ETF space, but the filing represents the firm's 'expansion in asset management and proprietary products.' Those ETFs, he added, will be distributed through internal and external channels. 'We've got a pipeline' of products on the drawing board, Bromberg said. Debuting with a focus on artificial intelligence is indicative of what investors and financial advisors can expect from Wedbush, said Wedbush Fund Advisors Chief Investment Officer Cullen Rogers, who added that Wedbush will be leveraging its strengths in areas including public markets, private markets, investment banking and research. 'It's more about creating differentiated products,' he said. 'We're not trying to barge into a crowded room.'Permalink | © Copyright 2025 All rights reserved
Yahoo
18-02-2025
- Business
- Yahoo
Legacy Firm Wedbush's First Ever ETF to Focus on AI
Wedbush, a 70-year-old financial services firm based in Los Angeles, has filed with the Securities and Exchange Commission to enter the ETF space. According to the filing, the proposed Wedbush IVES AI Revolution ETF will track an index of the same name, which is comprised exclusively of securities included in the Dan Ives AI 30 Research Report. THe filing did not include a ticker or proposed fees as yet. Ives is the head of technology research at Wedbush Securities. The AI Report is a 'periodically released, publicly available research report, comprising companies that have been identified as significant creators, enablers or adopters of artificial intelligence technologies through their strategic focus, partnerships, innovation, product development or integration of AI into their operations,' according to the filing. 'ETF creation is a logical progression for Wedbush as we continue to provide efficient solutions to our investor clients,' CEO Gary Wedbush said in a press statement. The firm also said it plans future exchange-traded fund launches. Wedbush is a diversified financial services firm that includes a broker-dealer, investment banking, research, a robo-advisor platform and an $8.9 billion wealth management division. Wedbush was involved in the ETF space about seven years ago through an investment in an ETF issuer, but that connection dissolved when the ETF advisor was acquired. 'After exiting that position, we decided we had the infrastructure, but we hadn't been taking advantage of our best ideas, which we want to do in the ETF wrapper,' said Matt Bromberg, chief operating officer of Wedbush Fund Advisors. Bromberg was unable to discuss details of the ETF in filing or talk about Wedbush's specific plans for developing a footprint in the $11 trillion ETF space, but the filing represents the firm's 'expansion in asset management and proprietary products.' Those ETFs, he added, will be distributed through internal and external channels. 'We've got a pipeline' of products on the drawing board, Bromberg said. Debuting with a focus on artificial intelligence is indicative of what investors and financial advisors can expect from Wedbush, said Wedbush Fund Advisors Chief Investment Officer Cullen Rogers, who added that Wedbush will be leveraging its strengths in areas including public markets, private markets, investment banking and research. 'It's more about creating differentiated products,' he said. 'We're not trying to barge into a crowded room.'Permalink | © Copyright 2025 All rights reserved Sign in to access your portfolio
