## [# ETF Launches Ramping Up](/sections/daily-etf-watch/etf-launches-ramping)
# ETF Launches Ramping Up
The past two weeks have seen a new global AI fund as well as new target outcome ETFs.
[](/contributors/lara-crigger)
[By Lara Crigger](/contributors/lara-crigger)
May 20, 2020
Edited by: Lara Crigger
Share Email LinkedIn Facebook X (Twitter)
googletag.cmd.push(function() {
googletag.display('js-dfp-tag-article_page_302x26');
});
Loading
After a lull, ETF launches are slowly ramping up again. We cover some of the recent launch and filing news below.
**Global AI Fund Debuts**
On May 11, [ROBO Global](https://www.etf.com/topics/robo-global-etfs), the boutique issuer behind the $1.1 billion [**ROBO Global Robotics And Automation Index ETF (ROBO)**](https://www.etf.com/ROBO), launched its third fund, the [**ROBO Global Artificial Intelligence ETF (THNQ)**](https://www.etf.com/THNQ).
THNQ tracks global companies that either heavily use artificial intelligence (AI) in their business operations or develop engines and solutions for others. Its benchmark is based on a proprietary ranking system that takes into account how much revenue a company derives from AI, how heavily it has invested, and its technology and market leadership. That leads to a portfolio of cloud computing, big data analysts, network/security providers, ecommerce giants, health care companies and more.
THNQ's benchmark may have anywhere from 50 to 100 equities in it, subject to minimum capitalization and liquidity restraints; currently, the fund holds 73 names, the top three of which are iRobot (IRBT) at 2.2%, Veeva Systems (VEEV) at 2.0% and Twilio (TWLO) at 1.9%.
***(Use our [stock finder tool](https://www.etf.com/etfanalytics/etf-stock-finder) to find an ETF’s allocation to a certain stock.)***
At least 25% of the index will track international equities; China A-shares are specifically called out in the prospectus as a potential holding.
THNQ, which lists on the NYSE Arca, costs 0.75%, but a fee waiver in place until Aug. 31, 2021, brings the total expense ratio down to 0.68%.
**First Trust Launches New Buffer ETFs**
On May 18, [First Trust](https://www.etf.com/topics/first-trust-etfs) added two new ETFs to its target outcome fund lineup, the **FT Cboe Vest U.S. Equity Buffer ETF—May (FMAY)** and the **FT Cboe Vest U.S. Equity Deep Buffer ETF—May (DMAY)**.
These funds function much the same as the company's existing target outcome funds, just with a different start/end date of May 18, 2020 to May 21, 2021. (Read: "[**First Trust Debuts February ETF Family**](https://www.etf.com/sections/daily-etf-watch/first-trust-debuts-february-etf-family?nopaging=1)")
The objective of FMAY and DMAY is to track the price return of the [**SPDR S&P 500 ETF Trust (SPY)**](https://www.etf.com/SPY) via FLEX options, but with upside and downside potential capped.
FMAY will allow investors to participate in SPY's returns up to 17.07% before expenses (16.21% after expenses), while providing a buffer against the first 10% of losses.
Meanwhile, DMAY will cap upside potential at 9.95% before expenses (9.09% after expenses) and provide a buffer against losses in SPY greater than 5% but less than 30%, before expenses.
The funds, which list on Cboe Global Markets (the parent company of ETF.com), each have an expense ratio of 0.85%.
**Innovator Plans Portfolio Of Buffer ETFs**
Elsewhere in target outcome ETFs, [Innovator](https://www.etf.com/topics/innovator-etfs/), the issuer behind the Innovator defined outcome series of ETFs, announced plans to change its [**Innovator Lunt Low Vol/High Beta Tactical ETF (LVHB)**](https://www.etf.com/LVHB) into another buffer ETF product.
Named the Innovator S&P 500 Diversified Power Buffer ETF (BUFF), the ETF will hold a "set and forget it" portfolio of all 12 of the firm's monthly S&P 500 Power Buffer ETFs, which are designed to cap upside returns and potential losses in S&P 500 options over a year-long period.
BUFF, which launches on or around July 15, will still list on Cboe Global Markets. Its expense ratio will fall from 0.49% to 0.20%.
*Contact Lara Crigger at* [*lcrigger@etf.com*](mailto:lcrigger@etf.com)
[ Lara Crigger ](/contributors/lara-crigger)
Lara Crigger is a veteran financial writer with more than twenty years' experience writing about ETFs, markets, and investor education. Formerly… [View Bio](/contributors/lara-crigger)
Related Topics [Equity](http://www.etf.com/topics/equity)
[Sectors](http://www.etf.com/topics/sectors)
[Global](http://www.etf.com/topics/global)
[Artificial Intelligence](http://www.etf.com/topics/artificial-intelligence)
[Thematics](http://www.etf.com/topics/thematic-etfs)