Is ChatGPT outperforming the top 10 most popular funds in the UK?

ChatGPT fund tracker: How does it compare to the top 10 most popular funds in the UK?

• ChatGPT fund tracker 2023

Quick overview

• A fund consisting of 38 stocks chosen by ChatGPT has risen 7.66% in the first 13 weeks since it was created by Finder on 6 March 2023.
• The ChatGPT fund has outperformed the top 10 most popular funds in the UK. When averaged together, they are currently at -0.09% over the same period.

What is ChatGPT?

ChatGPT has taken the world by storm with its ability to answer questions and hold human-like conversations. The state-of-the-art language model developed by OpenAI uses advanced machine learning techniques to generate human-like responses to a wide range of inputs.

What stocks did ChatGPT select?

We asked ChatGPT to create a portfolio of stocks from high-quality businesses with criteria taken from the leading 10 funds it is competing against. These include things like low levels of debt, sustained growth in the past and assets that generate an advantage of competitors.

Given these inputs, the programme suggested the 38 stocks in the table below. We assigned each stock equal weighting for the purpose of this experiment.

What is a fund?

A fund is a type of investment vehicle that pools together money from multiple investors and uses it to invest in a diverse range of assets, such as stocks, bonds, and other financial instruments. This diversification helps to spread risk and can provide more stable returns than investing in individual assets. Funds are typically managed by professional fund managers, who make investment decisions on behalf of the investors in the fund.

What funds did we compare our fund to?

To ensure that our comparison was based on funds with a wide reach and impact, we specifically selected the 10 most popular funds in the UK from Interactive Investor. By using these funds as a benchmark, we aim to provide a meaningful comparison that reflects the performance of the wider market. The popularity of these funds also indicates that they are well-regarded and trusted by a broad range of investors, making them a reliable reference point for evaluating the performance of the ChatGPT fund.

Top 10 most popular funds

The limitations of ChatGPT

We carried out this conceptual experiment to illustrate the potential of AI in financial industries and investing, but you should not try to get stock tips from AI. ChatGPT is a language model that is only trained on data up to 2021 rather than current data, and it is not supposed to be able to give financial advice or recommendations.

In its current form, ChatGPT could be useful for retail investors if treated as a search engine that can analyse vast amounts of data. However, it should absolutely not be used for making real investment decisions and any financial answers should always be checked and verified. If you are unsure, always speak to a professional.

Do people trust AI for financial advice?

Less than 1 in 10 (8%) people already used ChatGPT for financial advice, according to our 2023 survey. This number might grow in the future, since around 1 in 5 (19%) people would consider using ChatGPT for financial advice. Nearly double that amount (35%) said they would not consider using ChatGPT for financial advice.

Perhaps most notably, around 38% of people do not know about ChatGPT. Around 30% of men and 45% of women do not know what ChatGPT is.

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