The Dan Ives Wedbush AI Revolution ETF (IVES) has rocketed past a major milestone, surpassing $1 billion in assets under management less than five months after its June debut.
The milestone comes just two months after IVES crossed the $500 million mark, underscoring the fund’s rapid ascent amid surging investor enthusiasm for all things artificial intelligence. According to FactSet data, IVES has attracted more than $665 million of net inflows since launch.
Performance has also been a key draw. The ETF has gained 38% since inception, nearly double the 20% rise of the Invesco QQQ Trust (QQQ) over the same period. By comparison, the Technology Select Sector SPDR Fund (XLK) is up 28.7%, while the Vanguard S&P 500 ETF (VOO) has climbed 15.5%.
Although IVES tracks the Solactive Wedbush Artificial Intelligence Index, it operates more like a an actively managed ETF. The index is built from Ives’ proprietary “AI 30 Research Report,” which identifies 30 companies seen as leading creators, enablers, or adopters of AI technologies.
“The AI Revolution is the most transformative tech shift we’ve seen in decades,” said Dan Ives, Managing Director and Senior Equity Analyst at Wedbush. “The companies included in the IVES AI 30 are leading the charge in this next phase of AI, shaping how tech will transform every industry. We’re only in the early innings of this AI boom, and there’s still a lot of game left to play.”
The ETF’s holdings cover the full AI supply chain. It includes chip and semiconductor leaders such as Nvidia, AMD, Broadcom, Micron, and Taiwan Semiconductor, along with companies like Palantir, Meta, CrowdStrike, and Tesla that are embedding AI into products spanning cybersecurity to autonomous driving.
Holdings are currently weighted between 1.3% and 5.1%, with most of the major AI names near the upper end of that range.
Ives’ high media profile and bullish messaging on AI have made him a familiar face to retail investors, helping to fuel the ETF’s rapid growth. With the success of IVES, he now joins a growing cohort of star stock pickers in the ETF world, alongside figures like Cathie Wood and Tom Lee.