First Trust Advisors expects to launch a new index-based ETF, the First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT) on 22 February 2018.
The fund seeks investment results that correspond generally to the price and yield, before the fund’s fees and expenses, of an index called the Nasdaq CTA Artificial Intelligence and Robotics Index. The index, which is developed by Nasdaq and the Consumer Technology Association (CTA), is designed to track the performance of companies engaged in artificial intelligence (AI), robotics and automation.
Recent developments in AI and robotics are revolutionising business and transforming our everyday lives. AI allows machines to complete various “human” tasks, enabling robots to solve problems and interact with their environments. “It is clear that the growing advances in AI and Robotics, while still in early days, are increasing the rate and impact of change,” says Dave Gedeon, Vice President and Head of Product Development for Nasdaq’s Global Indexes. “The Nasdaq CTA Artificial Intelligence and Robotics Index is a new way to benchmark the performance of the companies leading the charge in this dynamic sector.”
“Many of the technological developments taking place in AI, robotics, and automation are astounding, and we believe there are strong incentives, in both the public and the private sector, to find ways to harness these innovations. As a leading provider of thematic ETFs, we are excited to offer ROBT as a way for investors to gain exposure to this dynamic investment theme,” says Ryan Issakainen, CFA, Senior Vice President, ETF Strategist at First Trust.