At a glance
AIFD charges 0.75% a year, above the 0.62% average of the 8 funds most like it (the 5th cheapest of 8). It has $125.3M in assets, the 6th largest of that group. Over the past year it returned +33.8% with distributions reinvested (S&P 500: +11.5%), the best of those 8 funds. Its ten largest positions make up 52.8% of the fund, out of 34 in all.
The short version
TCW Artificial Intelligence ETF (AIFD) is an actively managed fund from The TCW Group. It picks 25 to 60 stocks of companies it expects to benefit from artificial intelligence, from chipmakers such as NVIDIA and Broadcom to businesses that use AI. It is concentrated: as of July 31, 2026, it held 34 stocks, with about 53% in its top 10. It costs 0.75% a year, above the 0.62% average of similar funds.
Price history
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AIFD +33.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| AIFD official prospectus, to Dec 31, 2025 | — | +28.45% | — | +12.49% | — | +17.82% |
| S&P 500® Index (reflects no deduction for fees, expenses, or taxes)(1) index, same period | — | +17.88% | — | +14.42% | — | +14.88% |
| AIFD price data to Oct 27, 2026 | +35.2% | +33.8% | — | — | — | +32.0% |
- Over the year to Oct 27, 2026, AIFD returned +33.8%, 1st of 8 among similar funds.
- Its worst full calendar year was 2025 (+28.3%); its best was 2025 (+28.3%).
- The deepest fall in its price history was 33.2% (Jan 23, 2025 to Apr 4, 2025), recovered by Jul 25, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +35.2% | — |
| 2025 | +28.3% | +28.45% |
| 2024 | — | +30.49% |
| 2023 | — | +57.30% |
| 2022 | — | -40.37% |
| 2021 | — | +14.57% |
| 2020 | — | +57.75% |
| 2019 | — | +33.46% |
| 2018 | — | -2.91% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts May 6, 2024 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Not in the price data, which starts May 6, 2024 |
What's inside
As of Jul 31, 2026, the fund held 34 securities; the ten largest made up 52.83% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORP | 6.84% | |
| PALO ALTO NETWORKS INC | 6.24% | |
| ARISTA NETWORKS INC | 5.90% | |
| BROADCOM INC | 5.89% | |
| MICRON TECHNOLOGY INC | 5.82% | |
| ALPHABET INC-CL A | 5.39% | |
| MARVELL TECHNOLOGY INC | 4.45% | |
| LUMENTUM HOLDINGS INC | 4.35% | |
| AMAZON.COM INC | 4.20% | |
| DIGITALOCEAN HOLDINGS INC | 3.75% | |
| VERTIV HOLDINGS CO-A | 3.41% | |
| TAIWAN SEMICONDUCTOR-SP ADR | 3.36% | |
| ASML HOLDING NV-NY REG SHS | 2.94% | |
| DATADOG INC - CLASS A | 2.74% | |
| EATON CORP PLC | 2.66% |
By country
United States 82.85%Netherlands 4.45%Taiwan 3.36%Ireland 2.66%Luxembourg 1.89%By asset type
Stocks 96.76%By sector
Sectors of the companies held, for the 65.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $13.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +13.69%, +4.29%, -11.55%.
How it works
AIFD does not follow an index. Its adviser, TCW, picks stocks it expects to gain from AI and sorts them into three groups. AI enablers supply the core technology. AI systems companies create AI. AI adopters use AI built by others. An adopter makes the cut only if TCW believes AI can meaningfully improve its competitive edge, growth, profit margins, cash flow or ability to return cash to shareholders, usually over the next three to five years.
In normal conditions, at least 80% of net assets goes into these companies. The fund holds 25 to 60 stocks, each typically worth at least $300 million when bought. They can trade in the US or abroad, including through depositary receipts, which are US-traded certificates for foreign shares. TCW combines financial modeling and valuation work with quantitative and thematic data. The prospectus sets no fixed weighting formula or rebalancing schedule. Position sizes reflect the manager's views. Portfolio turnover was 20%, so only a modest share of the portfolio changes in a year.
The fund is "non-diversified," which means it can put more money into a single company than a diversified fund can. As of July 31, 2026, it held 34 stocks and reported no derivatives and no cash. It may lend out up to one-third of its assets, but it may skip that lending income so it can vote all its proxies.
What it really costs
- AIFD charges 0.75% a year, versus an average of 0.62% for the similar funds below (5th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $967 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| AIFD | $77 | $242 | $425 | $967 |
In a retirement portfolio
AIFD is a concentrated, actively managed bet on AI-linked stocks that has swung much more than the broad market, and it pays no income.
AIFD could add concentrated growth exposure to AI-linked companies alongside a broad core fund. Its swings have been large. It lost 40.37% in calendar 2022, and its worst quarter was a 25.32% drop in the three months to June 30, 2022. It also fell 33.2% from January 23 to April 4, 2025, and recovered by July 25, 2025, about 3.7 months later. Its one-year beta was 2.07 as of October 27, 2026, meaning it moved about twice as much as the market. Anyone forced to sell in a year like 2022 would lock in deep losses. The fund has recorded no distributions, so it provides no income. It costs 0.75% a year, which is $77 in the first year on $10,000 under the SEC's standard example. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a small, actively picked stake in AI chip, networking and software firms such as NVIDIA, Broadcom and Arista Networks.
- Long-term holders who can sit through drops like the fund's 40.37% loss in 2022 without needing to sell shares.
- Those willing to pay 0.75% a year for a focused portfolio of about 34 stocks instead of a broad index fund.
Look elsewhere if
- Anyone who needs income from their holdings: the fund has recorded no distributions and aims only for long-term capital growth.
- Cost-focused investors: similar funds averaged 0.62%, and WisdomTree Artificial Intelligence and Innovation Fund (WTAI) charges 0.45%.
- Investors wanting broad diversification: about 53% sits in ten stocks, mostly technology, and 82.85% is in US companies.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| AIFD this fund | — | 0.75% | $125.3M | +33.8% | — |
| FAI First Trust Bloomberg Artificial Intelligen… | 42% | — | $97.3M | — | — |
| WTAI WisdomTree Artificial Intelligence and Inno… | 40% | 0.45% | $669.5M | +24.9% | +35.1% |
| FFOG Franklin Focused Growth ETF FOCUSED GROWTH … | 38% | 0.55% | $311.7M | -0.4% | — |
| CHAT Roundhill Generative AI & Technology ETF | 37% | 0.75% | $1.78B | +24.9% | +48.7% |
| BGRO iShares Large Cap Growth Active ETF | 35% | 0.55% | $8.9M | +5.7% | — |
| PJFG PGIM Jennison Focused Growth ETF | 35% | 0.75% | $140.3M | +3.6% | +25.2% |
| DARP Grizzle Growth ETF | 34% | 0.75% | $33.3M | +26.6% | +35.1% |
Questions investors ask
Is AIFD good for retirement?
AIFD works more like a small, higher-risk add-on than a core retirement holding. It lost 40.37% in 2022 and fell 33.2% between January and April 2025. It pays no distributions, so it provides no income. As of December 31, 2025, its five-year average annual return of 12.49% trailed the S&P 500's 14.42%. Since inception it was ahead, at 17.82% versus 14.88% a year. Its one-year beta of 2.07, as of October 27, 2026, points to roughly double the market's swings.
Does AIFD pay a dividend?
No. The fund has recorded no distributions. Its stated goal is long-term growth of capital, not income, so any return comes from changes in its share price. A retiree who wants regular cash from this fund would have to sell shares, which can hurt after a deep drop like the 40.37% loss in 2022. Income-focused holdings elsewhere in a portfolio would need to cover that need.
What's the difference between AIFD and WTAI?
Both funds target AI-related stocks, and about 40% of their holdings overlap. WisdomTree Artificial Intelligence and Innovation Fund (WTAI) is cheaper at 0.45% a year, versus AIFD's 0.75%. It is also larger, with $669.5 million in net assets as of June 30, 2026, against AIFD's $125.3 million as of July 31, 2026. AIFD did better over the year to October 27, 2026, returning 33.8% versus WTAI's 24.9%.
What are AIFD's top holdings?
As of July 31, 2026, the largest holdings were NVIDIA (6.8%), Palo Alto Networks (6.2%), Arista Networks (5.9%), Broadcom (5.9%), Micron Technology (5.8%) and Alphabet (5.4%). Marvell Technology, Lumentum, Amazon and DigitalOcean completed the top 10, which together made up about 53% of the fund. It held 34 stocks in total. Foreign holdings included Taiwan Semiconductor and ASML.
What is AIFD's expense ratio?
AIFD's expense ratio is 0.75% a year, according to its prospectus filed February 27, 2026. All of it is the management fee, and there is no fee waiver. Under the SEC's standard example ($10,000 invested, 5% yearly return), costs come to about $77 after one year, $242 after three, $425 after five and $967 after ten. Similar funds averaged 0.62%, and AIFD ranks 5th of 8 on cost.