AUM $1B in 5 Months: What Makes Dan Ives' AI ETF IVES Different?

The Wedbush AI Revolution ETF rides the AI rally with a concentrated portfolio anchored by AMD, Broadcom, and NVDA.

Dan Ives, one of Wall Street's most frequently featured tech analysts on CNBC, has surpassed $1 billion in assets under management (AUM) for the ETF bearing his name — just five months after launch.

The Dan Ives Wedbush AI Revolution ETF (IVES) listed on June 3, 2025, crossed $100M in AUM within five trading days, and officially confirmed $1B in October. Current AUM stands at approximately $1.03 billion.

Who Is Dan Ives — The Analyst Who Became a Ticker

Dan Ives is the Chief Technology Analyst at Wedbush Securities and one of the most outspoken AI and Big Tech bulls on the Street. A fixture on CNBC and Bloomberg TV, he has consistently maintained that "AI is the Fourth Industrial Revolution."

Using his own name as the ETF's ticker (IVES) is itself a marketing strategy. Alongside Tom Lee's (Fundstrat) DOGE ETF, IVES has become a defining example of the 'influencer ETF' trend now circulating across Wall Street.

Structure — Passive Index, But Ives' Research Builds the Index

IVES looks like a passive ETF, but its structure is distinctive. It tracks the Solactive Wedbush Artificial Intelligence Index — an index that is itself constructed from the 'AI 30 Research Report' authored by the Dan Ives team at Wedbush.

In effect: the research shapes the index, and the ETF tracks the index.

• Expense Ratio: 0.75%
• Peers: FTEC 0.08% · IYW 0.42%
• Approximately 42% above category average
• Structure: Passive index (though the index itself is built on active research)

Portfolio — 32 Holdings Across the AI Value Chain

The fund holds a concentrated 32 positions, with the top 10 holdings comprising approximately 49–50% of total assets.

• AMD 6.30%
• Broadcom (AVGO) 5.37%
• Amazon (AMZN) 5.37%
• Alphabet (GOOGL) 5.27%
• TSMC 4.86%
• Micron (MU) 4.77%
• Apple (AAPL) 4.77%
• NVIDIA (NVDA) 4.71%
• Microsoft (MSFT) 4.41%
• GE Vernova (GEV) 4.07%

Sector allocation: Technology 68%, Consumer Discretionary 12.8%, Communication Services 11.8%.

Performance & Risks — Riding the AI Rally, but Volatility Runs High

Early performance has been positive. As of late 2025, the fund has returned approximately 11% since inception, with a 52-week range of $25.07–$35.25.

However, the expense ratio runs 42% above the category average, and the fund is classified as non-diversified, which introduces concentration risk. Foreign equity exposure stands at 15%, with non-U.S. names such as TSMC, Baidu, and Alibaba included.

AI is the Fourth Industrial Revolution. Not betting on this trend is the greater risk.

Dan Ives (characteristic quote)

The Bottom Line

IVES's rapid ascent reflects two simultaneous realities.

• First, retail investor demand for AI-themed exposure remains robust.
• Second, the 'influencer ETF' — converting an analyst's personal brand into a fund product — is proving to be a powerful capital-gathering mechanism.

The higher expense ratio and concentration risk are the price of admission.