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A Baxter robot of Rethink Robotics picks up a business card as it performs during display at the World Economic Forum, in China's port city DalianThomson Reuters
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Millennials are buying exchange-traded funds for exposure to high-growth robotics and cannabis stocks.
These are the six most-popular ETFs among Robinhood investors.
Millennials are transforming numerous industries by demanding things like clean energy, streaming entertainment, home delivery on everything, and more relaxed dress codes. They're also investing in exchange-traded funds (ETFs) to gain exposure to multiple stocks and high-growth industries such as robotics and cannabis.
Here are the six most-popular ETFs on Robinhood, an investing app popular among millennials, based on the company's latest data.
The Invesco QQQ ETF only invests in non-financial stocks listed on the tech-heavy Nasdaq exchange.
It's heavily weighted toward Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Facebook (FB) and both share classes of Alphabet (GOOG and GOOGL), which together make up about 42% of its holdings.
5. Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ)
The BOTZ ETF invests most of its assets in securities that are part of the Indxx Global Robotics & Artificial Intelligence Thematic Index.
It invests in companies involved in areas such as robotics, automation, artificial intelligence, and autonomous vehicles. Its holdings include Intuitive Surgical (ISRG), Mitsubishi Electric (TYO:6503) and Nvidia (NVDA).
The Vanguard Total Stock Market ETF is designed to track the performance of the CRSP US Total Market Index. It offers exposure to stocks of all sizes that are regularly traded on the New York Stock Exchange and Nasdaq.
The SPDR S&P 500 ETF Trust tracks the S&P 500, offering broad exposure to major US stocks. Its top holdings include Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Facebook (FB).
The ETFMG Alternative Harvest ETF invests the bulk of its assets in securities included in the Prime Alternative Harvest Index. These include cannabis stocks such as Cronos (CRON), Aurora Cannabis (ACB) and Canopy Growth (WEED).
The Vanguard S&P 500 ETF aims to track the performance of the S&P 500 index. It holds major US stocks such as Johnson & Johnson (JNJ), Exxon (XOM) and Warren Buffett's Berkshire Hathaway (BRK.B).
