Artificial Intelligence vs the S&P 500 (THNQ): is it outperforming?
Over the past month, THNQ has outperformed the S&P 500 by 8.7 points. Here is where that puts it in the sector rotation — updated daily.
Where THNQ sits on the rotation map
Artificial Intelligence highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
THNQ vs SPY: head-to-head returns
THNQ (artificial intelligence) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means THNQ won that window.
Data as of 2026-08-28 · computed from daily adjusted closes · how we measure
The read
Artificial Intelligence (THNQ) has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 7.8 points, but over the past month it has moved decisively ahead of the market — a 8.7-point edge that puts it in the Emerging quadrant. Ranked by one-month spread, it currently stands #18 of the 115 groups Zensei tracks.
On the shorter tape, THNQ's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. THNQ's relative-strength line is holding around its moving averages — the trend is intact but no longer extending. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The exposure comes via Robo Global Artificial Intelligence ETF, whose 48 tracked holdings are led by AMBARELLA INC, PALO ALTO NETWORKS INC and DATADOG INC CLASS A. Weighted by portfolio, the fund's holdings trade at roughly 232.0× earnings and 18.1× sales. The thing to watch from here is confirmation: emerging groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
What's inside THNQ
Top 5 of 48 tracked holdings, by portfolio weight.
Artificial Intelligence vs the market — common questions
Is artificial intelligence outperforming the S&P 500?
Right now, yes: over the past month THNQ has outperformed the S&P 500 by 8.7 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is THNQ?
THNQ is Robo Global Artificial Intelligence ETF, the fund Zensei uses to measure the artificial intelligence group against the S&P 500 benchmark (SPY).
Which stocks are in THNQ?
THNQ's largest tracked positions are AMBARELLA INC, PALO ALTO NETWORKS INC, DATADOG INC CLASS A, AMAZON.COM INC, CLOUDFLARE INC — 48 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is artificial intelligence in right now?
As of the latest daily data, artificial intelligence is in the Emerging quadrant — behind the market over the longer window, but ahead over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track artificial intelligence against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.