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00:02A handful of exchange-traded funds managed entirely by artificial intelligence are outperforming the broader market,
00:08although their short track records and higher fees raise concerns among advisors, according to Reuters.
00:13Fewer than six ETFs managing about $30 million of the industry's nearly $17 trillion in assets rely entirely on AI
00:20for research and stock selection.
00:22A Mercer survey found that 91% of asset managers plan to increase their use of AI portfolio management tools
00:28this year.
00:29The high-conviction U.S. equity AI-managed ETF has gained 2.7% since its August launch, compared with
00:36a 1.1% increase in the S&P 500.
00:39Two AI-managed ETFs launched by FinQ in February have gained 25.35% and 23.98%, respectively, outperforming the
00:48S&P 500's 11% increase over the same period.
00:52However, analysts warn that the funds have yet to prove their ability to manage risk during market downturns.
00:57For all things money, visit Benzinga.com.
