This AI Fund Is Crushing QQQ, and Nvidia Is Barely 2% of It

AIS, an AI-focused fund, has outperformed QQQ, a broader AI index, with an 85% return compared to QQQ's 17% as of August 27, 2026. This performance is primarily driven by investments in memory and infrastructure companies, rather than just Nvidia, which makes up only 2.5% of AIS holdings. Top holdings for AIS include SK hynix (12.27%), Micron Technology (8.42%), and AMD (4.67%).

Micron, in particular, has surged 227.94% year-to-date and 695.68% over one year. While AIS has delivered impressive returns, it's important to note its concentration risk, limited track record, and foreign exchange risks. AIS and QQQ are not substitutes for each other but rather serve different purposes in an investment portfolio.