Happy Wednesday! Time has passed quickly since the start of this series, and if you have been following along (or not), this is the eighth week of Benzinga’s six-month series, “Is ChatGPT A Better Financial Advisor?
The real-time, interactive experiment, which matches OpenAI’s ChatGPT against 10 of the leading U.S. equity funds, aimed at finding the answer to the intriguing question: Is ChatGPT a better financial advisor?
For those new to this series, here’s how it works: ChatGPT was provided with a hypothetical $10,000 to construct an investment portfolio. The objective is for this portfolio to outperform other leading U.S. equity funds.
Let’s take a look at how Benzinga’s AI-powered portfolio performed in the seventh week, compared to benchmark ETFs such as the SPDR S&P 500 ETF Trust (NYSE:QQQ).
The performance tracking began on May 10.
Here is the seven-week performance of the various funds and ETFs:
| Fund/ETF | 7-Week Performance |
| SPDR S&P 500 | +7.28% |
| Invesco QQQ Trust | +13.8% |
| Schwab Total Stock Market Index Fund | +8.18% |
| Vanguard Growth Index Fund | +11.18% |
| Vanguard Value Index Fund | +3.31% |
| iShares MSCI EAFE ETF | -2.48% |
| Vanguard Total International Bond Index Fund | -0.62% |
| Fidelity Contrafund | +9.15% |
| T. Rowe Price Growth Stock Fund | +10% |
| Fidelity Total Market Index Fund | +8.19% |
| ChatGPT | 7-Week Performance |
| Benzinga’s ChatGPT Portfolio | +8.6% |
Read Also: NKE) returned as the biggest loser, down 8.75% since the position was opened.
Benzinga remains committed to holding all positions for the six-month duration of this experiment.
Curious about the specific stocks in Benzinga’s AI portfolio? Click here.
You can also look at last week’s results here.
It’s crucial to keep a long-term perspective as results are evaluated. This experiment will run for six months, and as the saying goes, investing is a marathon, not a sprint. Regular fluctuations in the leaderboard are to be expected.
The aim of this series isn’t to present AI as a substitute for human financial advisors. Instead, it aims to highlight AI’s potential as a tool to aid investment decisions. While ChatGPT is an advanced AI, it lacks the ability to process real-time data or evaluate personal financial situations — yet.
And while ChatGPT isn’t a licensed financial advisor, our experiment contributes to the ongoing conversation about AI’s role in finance.
Join Benzinga next Wednesday for the next installment of the “Is ChatGPT A Better Financial Advisor?” series. Benzinga looks forward to seeing how week eight unfolds for the AI-curated portfolio.
Read Next: AI Is Already Biting The Hands That Feed: ChatGPT To Compete With Microsoft
Photo: Shutterstock
