Dan IVES Wedbush AI Revolution ETFIVES

IVES (Dan Ives Wedbush AI Revolution ETF) is a passively managed ETF listed on Nasdaq that tracks the S&P Kensho New Economies Composite Index, a rules-based index designed to capture companies driving the “new economy.” The fund’s mandate is simple: sit inside the AI megacap stocks without having to pick them yourself. The catch is the fee-0.68% per year-taken out regardless of whether the AI trade is working or not. (source: Nasdaq, https://www.nasdaq.com/market-activity/etf/ives)

The ETF’s identity and fee structure are confirmed by SEC filings, which describe IVES as a 1940-Act ETF tracking an index that applies a thematic filter to the S&P 500 universe. In practice, the “new economy” label is mostly shorthand for the same mega-cap tech names that have dominated since 2023. The index methodology is public, but the fund’s holdings and current weights are only visible via Nasdaq’s ETF page, not embedded in the SEC filing itself. (source: SEC EDGAR fund search for IVES, https://www.sec.gov/edgar/search/#/q=IVES)

The FINRA Fund Analyzer reveals IVES charges 0.68% in annual expenses, a figure that sits in plain view but is easy to overlook amid the thematic pitch. The fund’s AUM and liquidity details are visible on Nasdaq’s ETF page, which shows daily trading volumes and the current basket’s top constituents. There is no separate prospectus-level disclosure of AUM in the evidence; the Nasdaq page provides the current market data but not the fund’s self-reported asset size. (source: FINRA Fund Analyzer, https://tools.finra.org/fund_analyzer/)

What IVES actually is-a fee-generating wrapper around a mechanical index-isn’t hidden, but it’s easy to miss if you’re distracted by the “AI revolution” slogan. The index itself is maintained by S&P Dow Jones Indices, whose methodology page explains the rules but doesn’t disclose IVES’s current holdings or weights. The Nasdaq ETF page is the only place to see the live ticker data, including intraday price, volume, and the top holdings snapshot. (source: Nasdaq, https://www.nasdaq.com/market-activity/etf/ives)

The fund’s expense ratio of 0.68% and the absence of any relative strength claim in the evidence mean the wrapper’s real job is to harvest the thematic excitement while charging a small but relentless toll. The SEC filing confirms the fund’s structure and index tracking but provides no revenue, profit, or performance data. The Nasdaq page shows the ticker’s mechanics but not the fund’s internal accounting. If you want to know how much money the fund really holds or how it’s performing after fees, you’ll need to look elsewhere. (source: SEC EDGAR fund search for IVES, https://www.sec.gov/edgar/search/#/q=IVES)