NVDA - VanEck grows its ETF lineup with a new robotics focused fund

2023-04-06 10:52:11 ET

VanEck bolstered its exchange traded fund lineup on Thursday as the issuer launched the VanEck Robotics ETF ( NASDAQ: IBOT ).

IBOT is a thematic focused fund that aims to deliver exposure to the growing robotics industry. Additionally, the exchange traded fund seeks to replicate the price and yield performance of the BlueStar Robotics Index.

According to VanEck, IBOT will tap into the robotics sector of the global economy which is projected to grow to over $90B by 2026.

“Industrial robotics are experiencing the twin tailwinds of increasing demand and declining costs, and the global marketplace for these machines is expected to double in just the next five years,” said Michael Cohick, Director of Product Management at VanEck in regards to the launch.

Cohick added: “For investors looking to participate in this growing trend, a global approach is key, as is ensuring exposure across the main sub-sectors of the robotics industry, given the range of use cases and the pace of innovation that are emerging across so many sectors of the global economy.”

Moreover, IBOT comes with a 0.47% expense ratio and is supported by 64 holdings which include the likes of Nvidia ( NVDA ), Abb Ltd. ( ABB ), Rockwell Automation Inc ( ROK ), and Emerson Electric ( EMR ).

In other ETF debut news, DWS launched the Xtrackers MSCI USA Climate Action Equity ETF ( USCA ) which marked the largest exchange traded fund debut of all time.

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