Every AI ETF prospectus sounds the same: pure exposure to the artificial intelligence revolution. The holdings tell a different story. Some funds are stacked with companies that mention AI twice a year. AI washing in ETFs is real, and the tools to catch it are mostly free.
The trick is measuring substance, not marketing. Count AI mentions in 10-K filings, check the two-year trend, and weigh it against R&D spending. A company shouting about AI while cutting research is telling on itself.
- SEC EDGAR full-text search - search any company's 10-K for "artificial intelligence" yourself, free and straight from the source.
- FinChat - pull years of financials and KPIs to check whether the AI talk matches revenue reality.
- TrueAI - free AI-substance scorecard of any AI ETF's top 10 holdings from 10-K mention counts and R&D; $15/mo unlocks full rankings.
- Quartr - read the actual earnings-call transcripts to hear how management talks about AI, quarter after quarter.
- Fintel - ownership and institutional data showing which "AI" names smart money actually holds.
- Morningstar - independent analyst ratings plus Instant X-Ray to see what your ETF really owns underneath.
Trust the filings, not the fund name.