The Let Bob AI Powered Momentum ETF (LETB), began trading on the NYSE on Wednesday. It’s considered a core equity position that also seeks to reduce market risk exposure. LETB invests in U.S. large-, mid-, and small-cap equities. The holdings are selected based on modern artificial intelligence capabilities. The algo if you will, blends both fundamental sentiment momentum with technical price momentum to actively manage the portfolio. “We are excited to partner with Anthony Buchanan and Let Bob’s cutting-edge investment technology to deliver this innovative equity ETF to the marketplace,” Noah Hamman, chief executive officer of AdvisorShares, said in a statement. “We feel LETB provides a compelling, risk-managed investment solution for advisors and investors to consider for their equity allocation of an overall portfolio.”
AdvisorShares Launches an ETF that runs off of AI
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The ETF seeks to outperform the Russell 3000 Index on a risk-adjusted basis over a full market cycle with lower volatility than traditional long-only equity strategies, according to regulatory filings. Taking the human element out will reduce emotional decision making, in the hopes of achieving a lower risk portfolio.