3 Generative AI ETFs Worth Watching: CHAT, IGPT, and WISE Compared

Generative AI is now a marketing term for ETFs as much as a technology trend. Most funds that slap "AI" on their name hold the same Nasdaq-100 mirror. Three funds are the exception: the Roundhill Generative AI & Technology ETF (CHAT), the Invesco AI and Next Gen Software ETF (IGPT), and the Themes Generative Artificial Intelligence ETF (WISE).

Each takes a different approach to owning the theme — and the performance gap between them over the past year is wide enough that the choice actually matters.

Key Takeaways

• CHAT (Roundhill) is the actively managed pure-play with $1.43B in AUM. It holds Alphabet, NVIDIA, AMD, and SK Hynix — covering the full generative AI stack. It returned roughly 106% over the past year and is up ~42% YTD, but charges 0.8% in fees.
• IGPT (Invesco) is rules-based and tilts heavily toward the hardware layer — SK Hynix and Micron near the top — betting that memory is the real AI bottleneck. Up ~89% over the past year at ~0.6% expense ratio, with a decade-long track record.
• WISE (Themes ETF) is the low-cost contrarian at ~0.4% fees. It holds a barbell of mega-cap silicon and small-cap pure-plays like QuickLogic and BZAI. Up only ~21% over the past year and down ~3% YTD — a drag while capital has concentrated in hyperscalers.

The right choice depends on your thesis. CHAT for active management of the full stack. IGPT for hardware/memory conviction. WISE for a bet that the rally broadens to smaller names.

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