AIAG

The L&G Artificial Intelligence UCITS ETF (AIAG) tracks the ROBO Global Artificial Intelligence Index and gives targeted exposure to companies building or monetising AI across semiconductors, data infrastructure, software and automation. It is a physically replicated thematic equity ETF, so returns are driven mainly by AI adoption, chip demand, enterprise software spending and capital expenditure on compute infrastructure. The main risks are thematic concentration, elevated valuations and sharper drawdowns during technology-led selloffs, so it fits better as a satellite allocation than as a core broad-market holding.

Top holdings:

• Nebius Group N.V. (NBIS): 3.56%
• Lumentum Holdings, Inc. (LITE): 3.26%
• Advanced Micro Devices, Inc. (AMD): 2.75%
• Lam Research Corporation (LRCX): 2.56%
• Alphabet Inc. (GOOGL): 2.48%
• Amazon.com, Inc. (AMZN): 2.48%
• Analog Devices, Inc. (ADI): 2.43%
• Astera Labs, Inc. (ALAB): 2.38%