Sell in May and Go Away? This Robot-Run ETF Disagrees
- MIND cuts cash position to 1%, goes all in on equities
- Canadian firm recently added currency hedging to AI-run fund
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The artificial intelligence behind the Horizons Active A.I. Global Equity ETF has apparently never heard the phrase "sell in May and go away."
The Canadian exchange-traded fund, which became the first global equity ETF run by robots when it launched in November, went all in on stocks when it rebalanced on April 30. It reduced its cash position to 1 percent from the 25 percent maximum it can hold, and increased its equity exposure to 99 percent.