At a glance
AIS charges 0.75% a year, above the 0.58% average of the 8 funds most like it (the 6th cheapest of 8). It has $950.9M in assets, the 5th largest of that group. Over the past year it returned +59.4% with distributions reinvested (S&P 500: +11.5%), the best of those 8 funds. Its ten largest positions make up 43.3% of the fund, out of 56 in all.
The short version
VistaShares Artificial Intelligence Supercycle ETF (AIS) is an actively managed fund built around the BITA VistaShares Artificial Intelligence Supercycle Index. The index is a global basket of companies in AI chips, datacenters and AI applications. Its biggest positions are memory and chip makers such as SK hynix and Micron, and nearly half its assets are outside the US. Its fee is 0.75% a year, above the 0.58% average of similar AI funds.
Price history
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AIS +59.4% 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 | |
|---|---|---|---|---|---|---|
| AIS official prospectus, to Dec 31, 2025 | — | +46.48% | — | — | — | — |
| AIS price data to Oct 27, 2026 | +69.8% | +59.4% | — | — | — | +93.5% |
- Over the year to Oct 27, 2026, AIS returned +59.4%, 1st of 8 among similar funds.
- The deepest fall in its price history was 34.4% (Jun 22, 2026 to Jul 29, 2026), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +69.8% | — |
| 2025 | — | +58.20% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
What's inside
As of Aug 31, 2026, the fund held 56 securities; the ten largest made up 43.3% of assets.
| Holding | Weight | |
|---|---|---|
| SK hynix Inc | 7.94% | |
| Micron Technology Inc | 7.18% | |
| Advanced Micro Devices Inc | 4.91% | |
| Marvell Technology Inc | 3.68% | |
| TSMC | 3.66% | |
| Semtech Corp | 3.56% | |
| Vertiv Holdings Co | 3.53% | |
| Silicon Motion Technology Corp | 3.02% | |
| Intel Corp | 2.91% | |
| Foxconn Industrial Internet Co | 2.91% | |
| GE Vernova Inc | 2.63% | |
| Seagate Technology Holdings PL | 2.50% | |
| Samsung Electronics Co Ltd | 2.27% | |
| NVIDIA Corp | 2.13% | |
| Corning Inc | 2.09% |
By country
United States 52.88%Taiwan 16.18%South Korea 12.21%China 5.64%Netherlands 2.01%By asset type
Stocks 99.73%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $369.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +10.55%, -23.78%, +5.59%.
How it works
The sub-adviser, VistaShares Advisors LLC, builds the portfolio from the BITA VistaShares Artificial Intelligence Supercycle Index. BITA GmbH owns and calculates that index. A company counts as an "AI company" if at least 50% of its revenue or assets is tied to one of three areas: high-performance chips used for AI, AI datacenters, or AI-enabled applications. The sub-adviser checks the revenue data. Under normal conditions, at least 80% of net assets go into these companies.
The fund usually holds every stock in the index, an approach called replication. But it is actively managed. The sub-adviser can buy a company before the index adds it, such as a recent IPO, or sell one early after bad news. Up to 20% can go into "emerging AI companies" outside the index or into cash. As a result, the fund's holdings and returns can differ significantly from the index.
The fund buys foreign shares directly and through American Depositary Receipts (ADRs), which are US-traded certificates for foreign stocks. These come from both developed and emerging markets. As of August 31, 2026, it held 56 stocks and no derivatives, and the top 10 made up 43.3% of assets. By country, the US was 52.9%, Taiwan 16.2%, South Korea 12.2% and China 5.6%. As of March 13, 2026, technology stocks were 89% of the index and semiconductors 49%. Portfolio turnover was 8%.
What it really costs
- AIS charges 0.75% a year, versus an average of 0.58% for the similar funds below (6th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $930 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| AIS | $77 | $240 | $417 | $930 |
In a retirement portfolio
AIS is a concentrated, volatile bet on AI hardware with a short record and no income, so it fits only as a small add-on to a broader portfolio.
AIS is too young to show how it holds up in a long bear market. It launched December 3, 2024, so it missed the 2008, 2020 and 2022 sell-offs. Its only full calendar year, 2025, returned 58.2%, though its weakest quarter that year lost 10.13%. Its deepest drop in the price history available (since September 2, 2025) was 34.4%, from June 22 to July 29, 2026. It had not regained that peak as of October 27, 2026. Its beta of 2.71 means it moved about 2.7 times as much as the broad market. Anyone who needs to sell shares in a bad year could lock in steep losses. It pays no income. Its 0.75% fee works out to $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 who want a small, high-risk slice of AI hardware, led by memory makers SK hynix and Micron, on top of a broad core holding.
- People who can live with volatility near 50% and a 34.4% drop like the one in mid-2026, because their other holdings are steadier.
- Investors who want global AI exposure: Taiwan, South Korea, China and other non-US markets made up nearly half the fund as of August 31, 2026.
Look elsewhere if
- Retirees who need regular income: AIS had recorded no distributions as of October 27, 2026.
- Cost-conscious investors: the 0.75% fee is above the 0.58% peer average, and Xtrackers XAIX charges 0.35% while WisdomTree WTAI charges 0.45%.
- Investors who want a long track record: AIS launched in December 2024 and has never gone through a full bear market like 2008 or 2022.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| AIS this fund | — | 0.75% | $950.9M | +59.4% | — |
| WTAI WisdomTree Artificial Intelligence and Inno… | 34% | 0.45% | $669.5M | +24.9% | +35.1% |
| IGPT Invesco AI and Next Gen Software ETF | 34% | 0.58% | $1.11B | +49.3% | +43.8% |
| CHAT Roundhill Generative AI & Technology ETF | 34% | 0.75% | $1.78B | +24.9% | +48.7% |
| ARTY iShares Future AI & Tech ETF | 32% | 0.47% | $3.93B | +43.4% | — |
| FAI First Trust Bloomberg Artificial Intelligen… | 30% | — | $97.3M | — | — |
| AIFD TCW Artificial Intelligence ETF | 24% | 0.75% | $125.3M | +33.8% | — |
| AIQ Global X Artificial Intelligence & Technolo… | 23% | 0.68% | $10.17B | +20.0% | +35.5% |
Questions investors ask
Does AIS pay dividends?
No. AIS had recorded no distributions as of October 27, 2026. That fits its stated goal of long-term capital appreciation and its focus on chip and datacenter companies, many of which pay small dividends or none. Investors who need cash from the fund would have to sell shares. That can be costly in a fund that fell 34.4% between June 22 and July 29, 2026.
What are AIS's top holdings?
As of August 31, 2026, AIS's largest positions were SK hynix (7.9%), Micron Technology (7.2%), AMD (4.9%), Marvell Technology (3.7%) and TSMC (3.7%). Next came Semtech, Vertiv, Silicon Motion, Intel and Foxconn Industrial Internet. The fund held 56 stocks, and the top 10 made up 43.3% of assets. NVIDIA was a smaller position at 2.1%.
AIS vs IGPT: what's the difference?
Both are AI-themed ETFs, but only about 34% of their holdings overlap. AIS is actively managed around a BITA index of AI chip, datacenter and application companies, and it charges 0.75%. Invesco AI and Next Gen Software ETF (IGPT) charges 0.58% and had about $1.1 billion in net assets as of July 31, 2026. In the year to October 27, 2026, AIS returned 59.4% and IGPT returned 49.3%. IGPT also has a three-year record, which AIS does not.
What is the expense ratio of AIS?
AIS charges 0.75% a year, according to its prospectus filed March 25, 2026, with no fee waiver. That ranks 6th of 8 among similar AI funds, which average 0.58%. In the SEC's standard example, a $10,000 investment earning 5% a year would cost about $77 after one year, $240 after three, $417 after five and $930 after ten. Roundhill's CHAT and TCW's AIFD also charge 0.75%.
Is AIS good for retirement?
AIS is a high-risk fund that may fit only as a small part of a retirement portfolio. It focuses on AI-related technology: semiconductors made up 49% of its index as of March 13, 2026. It gained 58.2% in 2025, but its volatility was about 50% over the year to October 27, 2026, and it has never gone through a full bear market. It pays no income. Past results don't predict future returns.