Artificial Intelligence vs the S&P 500 (THNQ): is it outperforming?
Over the past month, THNQ has underperformed the S&P 500 by 0.1 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 2026-07-13 · computed from daily adjusted closes · how we measure
The read
Artificial Intelligence (THNQ) is losing its lead. It built a 27.8-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 0.1 points behind the market — the weakening quadrant of the rotation map. Ranked by one-month spread, it currently stands #42 of the 115 groups Zensei tracks.
On the shorter tape, THNQ's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. THNQ's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Robo Global Artificial Intelligence ETF, whose 48 tracked holdings are led by TEMPUS AI INC CLASS A COMMON STOCK, AMBARELLA INC and PALO ALTO NETWORKS INC. Weighted by portfolio, the fund's holdings trade at roughly 117.5× earnings and 19.7× sales. The thing to watch from here is whether this is a pause or a handoff: weakening groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
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, no: over the past month THNQ has underperformed the S&P 500 by 0.1 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 TEMPUS AI INC CLASS A COMMON STOCK, AMBARELLA INC, PALO ALTO NETWORKS INC, ASTERA LABS INC, ADVANCED MICRO DEVICES 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 weakening quadrant — still ahead over the longer window, but behind the market 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.