iShares Robotics and Artificial Intelligence Multisector ETF
IRBO
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- DE United States of America
- IPO Date
- Jun 28, 2018
- CIK
- 0001100663
- Similar Companies
- Business
- iShares Robotics and Artificial Intelligence Multisector ETF (NYSE Arca: IRBO), managed by BlackRock under the iShares brand, seeks to track the investment results of an index composed of developed and emerging market companies positioned to benefit from increased adoption of robotics and artificial intelligence technologies across multiple sectors. The ETF provides exposure to global equities involved in robotics hardware, such as industrial robots for manufacturing semiconductors and automobiles; enabling technologies including machine vision, machine learning, and sensors; artificial intelligence software platforms; and related services in areas like data processing and automation. It maintains an equal-weighted portfolio with approximately 104-123 holdings, diversified across sectors including technology services (44%), electronic technology (30%), producer manufacturing (11%), communications (6%), and others; top holdings represent about 17% of assets, with an expense ratio of 0.47%. Launched on June 26, 2018, the fund is domiciled in the United States with BlackRock serving as investment adviser; it trades on the NYSE Arca exchange and targets institutional and retail investors seeking thematic exposure to robotics and AI innovation. Geographically, IRBO invests in companies from developed markets like the United States, Europe, and Japan, as well as emerging markets including China and South Korea, reflecting a blended development level focus. In a significant strategic shift effective August 12, 2024, the fund underwent a name change to iShares Future AI & Tech ETF, a ticker symbol change from IRBO to ARTY, and an underlying index transition from the NYSE FactSet Global Robotics and Artificial Intelligence Index to the Morningstar Global Artificial Intelligence Select Index, emphasizing companies contributing to AI technologies such as generative AI, AI data infrastructure, AI software, and AI services while prioritizing smaller market capitalizations. This reorganization, approved by the Board of Trustees, included no expected tax implications for shareholders and aligned the portfolio more closely with evolving AI disruptors, with quarterly rebalances and annual reconstitutions maintaining liquidity thresholds like a minimum three-month average daily trading volume of $1.6 million. The changes reflect BlackRock's adaptation to rapid advancements in artificial intelligence amid growing investor interest in thematic ETFs.