Qraft’s AI-Enhanced U.S. Large Cap Momentum ETF Surpasses $50M in AUM
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The fund’s innovative, optimized strategy has driven assets upward by nearly 15-fold in the last year
SEOUL, South Korea--(BUSINESS WIRE)-- Qraft AI ETFs, a cutting-edge ETF series leading the charge in funds actively managed by artificial intelligence, announces that the Qraft AI-Enhanced U.S. Large Cap Momentum ETF (NYSE: AMOM) has surpassed $50 million in assets under management. This important milestone comes after a year of explosive growth, marked by an increase of nearly 1,500% from its $4.22 million total in August 2020.
Qraft’s AMOM ETF aims to provide investors with balanced exposure to factors that have historically been associated with strong investment returns among U.S. large cap stocks. In this pursuit, the fund’s strategy leverages AI technology to find high alpha factors, and extract investment strategies that seek to deliver potential outperformance and purer exposure to the momentum factor.
“Over the last year, investors have seen that there is great potential within markets to witness what was previously inconceivable,” says Francis Geeseok Oh, managing director and head of Qraft ETFs. “As markets continue to evolve and volatility becomes the new nature of investments, passive management will no longer satisfy the changing needs of investors. Turning toward the efficiency and adaptive nature of artificial intelligence as a tool for fund management is a natural advancement in the financial world. We’re pleased to be blazing the trail in this arena, and view our recent growth as an indication that investors are ready and eager to engage with these technologies.”
AMOM’s consistent growth comes during a time of continued market volatility; serving as a testament to the resiliency of the fund’s underlying strategy and capabilities of the machine-learning technologies of the firm’s AI. The fund has continuously outperformed its benchmark, accumulating approximately $53 million in assets with a total return of 14.57% YTD and 51.46% in one year, compared with the S&P 500 Momentum Index’s total return of 11.94% YTD and 35.34% in one year.
Lending to the fund’s performance is its ability to accurately anticipate fluctuations in the prices of popular stocks — a trend that drove markets over the last year as meme stocks gained popularity with individual investors. For example, in August 2020, AMOM sold its Tesla (NYSE: TSLA) shares as a response to its AI’s recommendations. The stock price fell by 14% shortly afterward, and by an additional 10% in October. Following another reassessment, AMOM reinvested in Tesla in November and bought continuously until January, at which point Tesla made up 6.7% of its portfolio. Before the start of February, AMOM sold off its entire Tesla holdings when the stock was at its all-time high.
The fund’s monthly redistributions serve as a reflex to markets, allowing for pivotal changes at key inflection points in order to optimize the fund’s performance and deliver gains in stride with market momentum. These key differentiators allow Qraft’s funds to stand apart from competitors and continue to deliver impressive performance for its investors.
Qraft is a fintech company aiming to drive innovative growth in the asset management industry with AI. Qraft currently has four AI ETFs (tickers: QRFT, AMOM, HDIV, NVQ) listed on the NYSE and offers other products such as a robo advisory solution and an AI order-execution system. From data processing to alpha research and portfolio execution, Qraft has enjoyed a successful track record in developing innovative AI solutions that have been adopted by major financial institutions and turned into successful AI products and services.
Qraft AI ETFs provide low-cost, actively managed exposure to U.S. large cap stocks by allowing artificial intelligence to 100% manage all security selection processes. We believe that with AI, investors can get balanced exposure to factors that have historically been associated with strong returns. Our ultimate goal is to provide a high level of alpha at lower cost.
Gregory FCA for Qraft AI ETFs
Source: Qraft AI ETFs
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