Investors Are Pouring Into Dan Ives’ AI ETF (IVES), Now Over $500M
The Wedbush AI Revolution ETF (IVES) is off to a hot start, riding the AI wave and Ives’ media profile to a half-billion in assets.
The Dan Ives Wedbush AI Revolution ETF (IVES) has quickly become one of the fastest-growing new ETFs of 2025. Launched on June 3, the fund surpassed $500 million in assets under management this Thursday, less than three months after its debut.
The fund’s early success has been fueled by a combination of strong demand for AI-themed investments and the brand power of Dan Ives himself.
Ives, Wedbush’s managing director and global head of technology research, is one of the most visible tech analysts on Wall Street. He’s a regular on CNBC and Bloomberg TV, has more than 200,000 followers on X, and is known for his outspoken bullishness on artificial intelligence—a stance that has resonated with retail investors eager to ride the AI wave.
Index on Paper, Active in Practice
On paper, IVES is an index fund that tracks the Solactive Wedbush Artificial Intelligence Index. In practice, it looks and feels much closer to an actively managed portfolio.
The index is built from Ives’ proprietary “AI 30 Research Report,” which identifies 30 companies considered key creators, enablers, or adopters of artificial intelligence technologies. The report is refreshed semiannually, though adjustments can happen more often if there are major developments in the industry.
The index begins as float-adjusted market-cap weighted. From there, companies above 4% are trimmed back, those below 1% are bumped up, and the weights are rescaled to total 100%. The end result is a portfolio where several top holdings land in the 4–6% range.
A Tech-Heavy Portfolio
IVES is stacked with familiar names. Nvidia, Microsoft, Apple, Amazon, Alphabet, Meta, Tesla, Palantir, AMD, and Broadcom all make the cut, along with Taiwan Semiconductor and Oracle. The fund also dips into mainland China with holdings in Alibaba and Baidu.
Since inception through Aug. 28, IVES has returned 12.8%, compared to 9.2% for the Vanguard S&P 500 ETF (VOO). A better comparison, though, may be with the Technology Select Sector SPDR Fund (XLK), which has gained 12.9% over the same period, or even the Invesco QQQ Trust (QQQ), which is up 9.6%.
It’s still early days, but IVES has clearly resonated with investors. Whether the ETF can sustain that momentum remains to be seen, but crossing the half-billion mark in under 90 days is a strong start by any measure.
