- 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.
6. Invesco QQQ (QQQ)
The Invesco QQQ ETF only invests in non-financial stocks listed on the tech-heavy Nasdaq exchange.
Number of investors: 13,950
Ranking on Robinhood: 99
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).
Number of investors: 16,932
Ranking on Robinhood: 88
Source: Global X
4. Vanguard Total Stock Market ETF (VTI)
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.
Number of investors: 23,546
Ranking on Robinhood: 61
3. SPDR S&P 500 ETF Trust (SPY)
Ted S. Warren/AP
Number of investors: 32,749
Ranking on Robinhood: 49
2. ETFMG Alternative Harvest ETF (MJ)
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).
Number of investors: 35,862
Ranking on Robinhood: 46
1. Vanguard S&P 500 ETF (VOO)
Number of investors: 40,918
Ranking on Robinhood: 39