AI developments boost iShares Robotics and Artificial Intelligence ETF

The iShares Robotics and Artificial Intelligence ETF is weighted towards high-growth tech stocks like iQIYI and Kingsoft Cloud Holdings, which have struggled on the back of rising interest rates. New advances in the AI industry, however, could help to turn around the fund's performance. The iShares Robotics and Artificial Intelligence ETF [IRBO] has dropped in value by 31.7% in the last year. The fund, which has a large exposure in tech and emerging market companies, has been at a disadvantage this year as investors favour the stability of larger asset-heavy shares. Rising interest rates have also impacted the discounted valuations of the high-growth shares held within the fund.