Investors seeking momentum may have Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ Quick QuoteBOTZ - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of BOTZ are up approximately 74.3% from their 52-week low of $14.77/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

BOTZ in Focus

The underlying Indxx Global Robotics & Artificial Intelligence Thematic Index invests in companies that potentially stand to benefit from increased adoption and utilization of robotics and artificial intelligence, including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles. BOTZ charges investors 68 basis points in fee per year (see all broad developed world ETFs here).

Why the move?

Robotics has emerged as one of the most effective strategies to contain the spread of the virus. The outbreak has raised needs for sanitization in hospitals and various public spaces by manifold. Many are turning to robots for the cleaning work. Not only this, robots are being used in the healthcare sector massively amid the ongoing pandemic.  

The global robotics market is expected to expand to about $499 billion by 2025, marking a CAGR of 26% and the global AI market is estimated to increase to about $169 billion by 2025, representing a CAGR of 72%, per a source.

More Gains Ahead?

The fund has a positive weighted alpha of 35.70. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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