AI-Powered ETF Getting Left Behind by an AI-Powered Stock Rally
- AIEQ has fallen behind S&P 500 this year after an early lead
- SocGen says AI craze accounts for all of index’s 2023 gains
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One of the oldest artificial intelligence exchange-traded funds can’t keep up with the technology’s latest hype.
The $108 million AI Powered Equity ETF (ticker AIEQ), which uses a quantitative model running on IBM Corp.’s Watson platform to scan thousands of US companies, has rallied about 4% so far this year. That compares to a roughly 9% climb for the S&P 500.