Goldman’s Hedge Fund ETF Is Crushing the S&P 500 With AI Bets
- GVIP has rallied over 16% compared to the S&P 500’s 10% gain
- Even still, the ETF is sitting on net outflows so far in 2023
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The artificial intelligence boom is handing a big win to hedge funds angling for an edge.
The $127 million Goldman Sachs Hedge Industry VIP exchange-traded fund (ticker GVIP), which scans 13F filings to build a portfolio of popular hedge fund picks, has rallied more than 16% so far in 2023, Bloomberg data shows. That compares to a nearly 10% climb for the S&P 500.