Investing in Innovation: 5 Best Tech and Disruptive ETFs

3. iShares U.S. Tech Independence Focused ETF (CBOE:IETC)

5-Year Share Price Performance as of March 20: 156.75%

iShares U.S. Tech Independence Focused ETF (CBOE:IETC) aims to offer exposure to US companies with technology exposure, emphasizing those with a higher proportion of technological capabilities, revenues, and production in the US and select global markets. As of March 19, 2024, iShares U.S. Tech Independence Focused ETF (CBOE:IETC) has net assets totaling $225 million, with a portfolio comprising 151 stocks and a net expense ratio of 0.18%. It is one of the best tech ETFs to monitor. 

Broadcom Inc. (NASDAQ:AVGO) is one of the top holdings of the iShares U.S. Tech Independence Focused ETF (CBOE:IETC). On March 20, Barclays reinstated an Overweight rating on Broadcom Inc. (NASDAQ:AVGO), citing its strong positioning to capitalize on the “second wave of AI.” They anticipate significant growth in the mid- to high-20% range next year, driven primarily by AI and custom silicon/switching businesses. Barclays set Broadcom’s price target at $1,405 based on these projections.

According to Insider Monkey’s fourth quarter database, 91 hedge funds were bullish on Broadcom Inc. (NASDAQ:AVGO), compared to 87 funds in the last quarter. 

Carillon Eagle Growth & Income Fund stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its fourth quarter 2023 investor letter:

“Broadcom Inc. (NASDAQ:AVGO) traded higher after closing on its acquisition of VMware. The company also announced earnings that were relatively in line with estimates with some benefit of better operating expenses. The stock appears to be one of the first real beneficiaries of generative artificial intelligence (AI) with meaningful revenue expected to show up in 2024.”