Dan Ives’ Wedbush AI Revolution ETF launched today, trading under the ticker "IVES." This new fund allows investors to follow Ives’ take on the AI boom. It tracks an evolving index from Wedbush’s Ives AI 30 research list.
Ives stated, “It’s based on our research. So as new companies come in, then some companies could come out. This is a living organism in terms of this AI 30. It’s not static.”
The index includes major players like Nvidia, Microsoft, Alphabet, Amazon, and Tesla, alongside smaller names like SoundHound AI and CyberArk Software. 
The fund will be reconfigured quarterly but can change more frequently due to corporate actions, according to SEC filings. Cullen Rogers oversees daily operations and emphasizes a blend of active and passive investment strategies. "We’re kind of walking this line between active and passive," Rogers said.
AI-themed ETFs have faced challenges because of the fast-evolving nature of the industry and the presence of private firms like OpenAI. Still, Wedbush believes the AI theme is expanding beyond traditional tech front-runners. Ives noted, “The AI revolution theme is now going from semis to software, to infrastructure, to consumer and the other derivatives.”
The IVES fund features a management fee of 0.75%, slightly above many thematic ETFs but lower than the average of active U.S. equity funds. For comparison, the Global X Artificial Intelligence & Technology ETF (AIQ) charges 0.68% and has $3 billion in assets, up 22% in the past year.
Investors are now watching closely.
