A frenzy around AI-adjacent stocks fueled the sector to robust gains: the Nasdaq Composite Index (IXIC) was up 43%, and the Technology Select Sector SPDR Fund (XLK) was up 56%.
And yet, in addition to outperforming the broader market, Ivana Delevska’s Spear Alpha ETF (SPRX) managed to smash its peers in the tech sector.
The fund was up 88% on the year and beat 99% of similar funds, according to Morningstar data .
We were like the only ones buying it at the bottom, it really felt totally abandoned,” Delevska told Business Insider.
3 AI stocks to buyThe first is chipmaker Nvidia (NVDA).
Persons:
Ivana Delevska’s, ”, “, ” Delevska, Delevska, they’re
Organizations:
Nasdaq, Technology, Alpha, Morningstar, Business, Citadel Asset Management, Nvidia, Palo Alto