Pretty neat.
FYI if you are sad that you can't participate in this index (for Goldman customers only), replicating it is pretty easy on your own.
- Pull up a list of companies in the S&P 500.
- Do a quick pass and decide if they are "AI" or not, or use an LLM to help you (ironic).
- Use a direct indexing platform (Frec, Wealthfront, Fidelity, Schwab, Parametric among others) to build your own index with those funds and adjust it maybe quarterly.
As a bonus the fees will be significantly lower than what Goldman will want for the same end result.
https://www.defianceetfs.com/xmag/ is S&P500 minus the Mag 7.
>for Goldman customers only
Did they make public which stocks they'll include?
Highly unlikely. They would probably make you pay and make you sign an NDA before telling you the list.
No company is ai free
Most companies predate AI and were AI-free not too long ago with very similar valuations than now.
they were and now they are not
I can’t see, or I’m missing, the list of companies included but I couldn’t help but, snarkily, think “I guess you could leave Apple in that index” seeing how I don’t think their their valuation factors in “AI”, given their stumbles/failures thus far.
I asked (an AI) what's on the index:
> The index effectively shifts weight toward "secular safety" and cyclical sectors that are less directly impacted by AI spending cycles. Major holdings in the SPXXAI index include leaders from the following sectors:
Financials: Berkshire Hathaway (BRK.B), JPMorgan Chase (JPM), and Visa (V).
Healthcare: Eli Lilly (LLY), UnitedHealth Group (UNH), and Johnson & Johnson (JNJ).
Consumer Staples: Walmart (WMT), Procter & Gamble (PG), and Costco (COST).
Energy & Materials: Exxon Mobil (XOM), Chevron (CVX), and Linde (LIN).
Utilities & Real Estate: Companies like NextEra Energy (NEE) and American Tower (AMT).