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AI-Powered Fund Thrashing S&P 500 Is Wary of Cyclical Bounce

  • Machine-guided ETF is outperforming U.S. benchmark this year
  • Fund is overweight health care, underweight cyclical shares
Sberbank PSJC Reveals Russia's Fastest Supercomputer
Photographer: Andrey Rudakov/Bloomberg
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A machine-guided fund which has almost doubled the performance of the S&P 500 Index this year is casting serious doubt over a sustained rebound in cyclical stocks.

The AI Powered Equity ETF (AIEQ), an exchange-traded fund driven by artificial intelligence, has risen about 13% year-to-date versus a 7% gain in the S&P 500.