Last refreshed: September 4, 2026 (US ET)

Portfolio Changes

PQNT · Pictet's AI selects approximately 300 international developed-market stocks. Launched in 2025.

MEDIUM

AI ETFs are now 38.9% defensive — consider a more cautious stance and a larger cash buffer.

From
→
To

Defensive

38.9%

defensive sector weight

Cash

0.2%

cash & residual

New

0

newly added

Out

0

exited

↑/↓

41/42

weight changes

Portfolio Changes

2026-08-29→2026-09-01

83 changes

▲ UP6098
+0.04%
RECRUIT HOLDINGS CO LTD /JPY/
Defensive1.05% → 1.09%
▲ UP6702
+0.02%
FUJITSU LIMITED /JPY/
Growth0.70% → 0.72%
▲ UPPLS
+0.02%
PLS GROUP LTD /AUD/
Unknown0.39% → 0.41%
▲ UP6758
+0.01%
SONY GROUP CORP /JPY/
Growth1.26% → 1.27%
▲ UP6857
+0.01%
ADVANTEST CORP /JPY/
Growth0.89% → 0.90%
▲ UP6981
+0.01%
MURATA MANUFACTURING CO /JPY/
Unknown0.42% → 0.43%
▲ UP7011
+0.01%
MITSUBISHI HEAVY INDUSTR /JPY/
Defensive0.42% → 0.43%
▲ UP7203
+0.01%
TOYOTA MOTOR CORP /JPY/
Growth0.62% → 0.63%
▲ UP7832
+0.01%
BANDAI NAMCO HOLDINGS IN /JPY/
Growth0.29% → 0.30%
▲ UP8031
+0.01%
MITSUI & CO LTD /JPY/
Defensive1.03% → 1.04%
▲ UP8306
+0.01%
MITSUBISHI UFJ FINANCIAL /JPY/
Growth0.61% → 0.62%
▲ UP8593
+0.01%
MITSUBISHI UFJ LEASE & FINANCE /JPY/
Growth0.36% → 0.37%
▲ UP8801
+0.01%
MITSUI FUDOSAN CO LTD /JPY/
Defensive0.60% → 0.61%
▲ UPABBN
+0.01%
ABB LTD-REG /CHF/
Defensive0.58% → 0.59%
▲ UPABN
+0.01%
ABN AMRO BANK NV-CVA /EUR/
Growth1.02% → 1.03%
▲ UPADDTB
+0.01%
ADDTECH AB-B SHARES /SEK/
Defensive0.05% → 0.06%
▲ UPAI
+0.01%
AIR LIQUIDE SA /EUR/
Growth0.48% → 0.49%
▲ UPALV
+0.01%
ALLIANZ SE REGISTERED /EUR/
Growth0.61% → 0.62%
▲ UPBBVA
+0.01%
BANCO BILBAO VIZCAYA ARG /EUR/
Growth1.00% → 1.01%
▲ UPBNP
+0.01%
BNP PARIBAS /EUR/
Growth0.80% → 0.81%
▲ UPCBA
+0.01%
COMMONWEALTH BANK OF AUS /AUD/
Growth0.73% → 0.74%
▲ UPCFR
+0.01%
CIE FINANCIERE RICHEMO-A /CHF/
Defensive0.62% → 0.63%
▲ UPDBK
+0.01%
DEUTSCHE BANK AG-REGISTE /EUR/
Growth0.54% → 0.55%
▲ UPEL
+0.01%
ESSILORLUXOTTICA /EUR/
Defensive0.41% → 0.42%
▲ UPHSBA
+0.01%
HSBC HOLDINGS PLC /GBP/
Growth0.85% → 0.86%
▲ UPIBE
+0.01%
IBERDROLA SA /EUR/
Defensive0.77% → 0.78%
▲ UPITX
+0.01%
INDUSTRIA DE DISENO TEXT /EUR/
Growth0.24% → 0.25%
▲ UPLLOY
+0.01%
LLOYDS BANKING GROUP PLC /GBP/
Growth0.44% → 0.45%
▲ UPMC
+0.01%
LVMH MOET HENNESSY LOUIS /EUR/
Growth0.83% → 0.84%
▲ UPNG.L
+0.01%
NATIONAL GRID PLC /GBP/
Defensive0.63% → 0.64%
▲ UPPRX
+0.01%
PROSUS NV /EUR/
Growth0.62% → 0.63%
▲ UPRMS
+0.01%
HERMES INTERNATIONAL /EUR/
Growth0.43% → 0.44%
▲ UPSAP
+0.01%
SAP SE /EUR/
Defensive0.75% → 0.76%
▲ UPSIE.GY
+0.01%
SIEMENS AG-REG /EUR/
Unknown0.76% → 0.77%
▲ UPSPOT
+0.01%
SPOTIFY TECHNOLOGY SA
Growth0.35% → 0.36%
▲ UPUBSG
+0.01%
UBS GROUP AG-REG /CHF/
Growth1.12% → 1.13%
▲ UPVOD
+0.01%
VODAFONE GROUP PLC /GBP/
Defensive0.42% → 0.43%
▲ UP1299
+0.01%
AIA GROUP LTD /HKD/
Growth1.13% → 1.14%
▲ UP1308
+0.01%
SITC INTERNATIONAL HOLDI /HKD/
Defensive0.15% → 0.16%
▲ UP4519
+0.01%
CHUGAI PHARMACEUTICAL CO /JPY/
Growth0.36% → 0.37%
▲ UP6501
+0.01%
HITACHI LTD /JPY/
Defensive0.75% → 0.76%
▼ DN7741
-0.01%
HOYA CORP /JPY/
Growth0.79% → 0.78%
▼ DN8267
-0.01%
AEON CO LTD /JPY/
Defensive0.62% → 0.61%
▼ DN8830
-0.01%
SUMITOMO REALTY & DEVELO /JPY/
Unknown0.51% → 0.50%
▼ DNASM
-0.01%
ASM INTERNATIONAL NV /EUR/
Defensive0.41% → 0.40%
▼ DNASSAB
-0.01%
ASSA ABLOY AB-B /SEK/
Defensive0.71% → 0.70%
▼ DNATCOB
-0.01%
ATLAS COPCO AB-B SHS /SEK/
Defensive0.13% → 0.12%
▼ DNBA.L
-0.01%
BAE SYSTEMS PLC /GBP/
Unknown0.29% → 0.28%
▼ DNBATS
-0.01%
BRITISH AMERICAN TOBACCO /GBP/
Defensive1.31% → 1.30%
▼ DNCAP
-0.01%
CAPGEMINI SE /EUR/
Unknown0.33% → 0.32%
▼ DNENR.GY
-0.01%
SIEMENS ENERGY AG /EUR/
Unknown0.84% → 0.83%
▼ DNESLT
-0.01%
ELBIT SYSTEMS LTD /ILS/
Defensive0.09% → 0.08%
▼ DNG1A
-0.01%
GEA GROUP AG /EUR/
Defensive0.19% → 0.18%
▼ DNGSK
-0.01%
GSK PLC /GBP/
Defensive0.64% → 0.63%
▼ DNIFX
-0.01%
INFINEON TECHNOLOGIES AG /EUR/
Unknown0.51% → 0.50%
▼ DNIMB
-0.01%
IMPERIAL BRANDS PLC /GBP/
Defensive0.25% → 0.24%
▼ DNINDT
-0.01%
INDUTRADE AB /SEK/
Defensive0.24% → 0.23%
▼ DNKNEBV
-0.01%
KONE OYJ-B /EUR/
Defensive0.26% → 0.25%
▼ DNLUMI
-0.01%
BANK LEUMI LE-ISRAEL /ILS/
Growth0.59% → 0.58%
▼ DNNEM
-0.01%
NEMETSCHEK SE /EUR/
Defensive0.13% → 0.12%
▼ DNNESN
-0.01%
NESTLE SA-REG /CHF/
Defensive0.65% → 0.64%
▼ DNNOVOB
-0.01%
NOVO NORDISK A/S-B /DKK/
Growth0.55% → 0.54%
▼ DNPRY
-0.01%
PRYSMIAN SPA /EUR/
Unknown0.34% → 0.33%
▼ DNRO
-0.01%
ROCHE HOLDING AG-BR /CHF/
Growth0.07% → 0.06%
▼ DNSCHN
-0.01%
SCHINDLER HOLDING AG-REG /CHF/
Defensive0.49% → 0.48%
▼ DNSGD
-0.01%
CASHSGD
Defensive0.01% → —
▼ DNSGE
-0.01%
SAGE GROUP PLC/THE /GBP/
Growth0.17% → 0.16%
▼ DNSGP
-0.01%
STOCKLAND /AUD/
Growth0.27% → 0.26%
▼ DNTEL2B
-0.01%
TELE2 AB-B SHS /SEK/
Growth0.10% → 0.09%
▼ DNUCB
-0.01%
UCB SA /EUR/
Growth0.14% → 0.13%
▼ DNVWS
-0.01%
VESTAS WIND SYSTEMS A/S /DKK/
Defensive0.20% → 0.19%
▼ DNZURN
-0.01%
ZURICH INSURANCE GROUP AG /CHF/
Growth1.01% → 1.00%
▼ DN4062
-0.01%
IBIDEN CO LTD /JPY/
Unknown0.23% → 0.22%
▼ DN4063
-0.01%
SHIN-ETSU CHEMICAL CO LT /JPY/
Unknown0.42% → 0.41%
▼ DN5802
-0.01%
SUMITOMO ELECTRIC INDUST /JPY/
Defensive0.18% → 0.17%
▼ DN5803
-0.01%
FUJIKURA LTD /JPY/
Defensive0.32% → 0.31%
▼ DN6146
-0.01%
DISCO CORP /JPY/
Growth0.33% → 0.32%
▼ DNLDO
-0.02%
LEONARDO SPA /EUR/
Defensive0.56% → 0.54%
▼ DNNOVN
-0.02%
NOVARTIS AG-REG /CHF/
Growth1.34% → 1.32%
▼ DN2914
-0.02%
JAPAN TOBACCO INC /JPY/
Defensive0.78% → 0.76%
▼ DNAZN
-0.03%
ASTRAZENECA PLC /GBP/
Defensive1.87% → 1.84%
▼ DNROP
-0.04%
ROCHE HOLDING AG /CHF/
Growth1.51% → 1.47%
▼ DN285A
-0.05%
KIOXIA HOLDINGS CORP /JPY/
Growth0.57% → 0.52%
CHANGETICKERCOMPANYTYPEPREV %CURR %Δ ▼
▲ UP6098RECRUIT HOLDINGS CO LTD /JPY/Defensive1.05%1.09%+0.04%
▲ UP6702FUJITSU LIMITED /JPY/Growth0.70%0.72%+0.02%
▲ UPPLSPLS GROUP LTD /AUD/Unknown0.39%0.41%+0.02%
▲ UP6758SONY GROUP CORP /JPY/Growth1.26%1.27%+0.01%
▲ UP6857ADVANTEST CORP /JPY/Growth0.89%0.90%+0.01%
▲ UP6981MURATA MANUFACTURING CO /JPY/Unknown0.42%0.43%+0.01%
▲ UP7011MITSUBISHI HEAVY INDUSTR /JPY/Defensive0.42%0.43%+0.01%
▲ UP7203TOYOTA MOTOR CORP /JPY/Growth0.62%0.63%+0.01%
▲ UP7832BANDAI NAMCO HOLDINGS IN /JPY/Growth0.29%0.30%+0.01%
▲ UP8031MITSUI & CO LTD /JPY/Defensive1.03%1.04%+0.01%
▲ UP8306MITSUBISHI UFJ FINANCIAL /JPY/Growth0.61%0.62%+0.01%
▲ UP8593MITSUBISHI UFJ LEASE & FINANCE /JPY/Growth0.36%0.37%+0.01%
▲ UP8801MITSUI FUDOSAN CO LTD /JPY/Defensive0.60%0.61%+0.01%
▲ UPABBNABB LTD-REG /CHF/Defensive0.58%0.59%+0.01%
▲ UPABNABN AMRO BANK NV-CVA /EUR/Growth1.02%1.03%+0.01%
▲ UPADDTBADDTECH AB-B SHARES /SEK/Defensive0.05%0.06%+0.01%
▲ UPAIAIR LIQUIDE SA /EUR/Growth0.48%0.49%+0.01%
▲ UPALVALLIANZ SE REGISTERED /EUR/Growth0.61%0.62%+0.01%
▲ UPBBVABANCO BILBAO VIZCAYA ARG /EUR/Growth1.00%1.01%+0.01%
▲ UPBNPBNP PARIBAS /EUR/Growth0.80%0.81%+0.01%
▲ UPCBACOMMONWEALTH BANK OF AUS /AUD/Growth0.73%0.74%+0.01%
▲ UPCFRCIE FINANCIERE RICHEMO-A /CHF/Defensive0.62%0.63%+0.01%
▲ UPDBKDEUTSCHE BANK AG-REGISTE /EUR/Growth0.54%0.55%+0.01%
▲ UPELESSILORLUXOTTICA /EUR/Defensive0.41%0.42%+0.01%
▲ UPHSBAHSBC HOLDINGS PLC /GBP/Growth0.85%0.86%+0.01%
▲ UPIBEIBERDROLA SA /EUR/Defensive0.77%0.78%+0.01%
▲ UPITXINDUSTRIA DE DISENO TEXT /EUR/Growth0.24%0.25%+0.01%
▲ UPLLOYLLOYDS BANKING GROUP PLC /GBP/Growth0.44%0.45%+0.01%
▲ UPMCLVMH MOET HENNESSY LOUIS /EUR/Growth0.83%0.84%+0.01%
▲ UPNG.LNATIONAL GRID PLC /GBP/Defensive0.63%0.64%+0.01%
▲ UPPRXPROSUS NV /EUR/Growth0.62%0.63%+0.01%
▲ UPRMSHERMES INTERNATIONAL /EUR/Growth0.43%0.44%+0.01%
▲ UPSAPSAP SE /EUR/Defensive0.75%0.76%+0.01%
▲ UPSIE.GYSIEMENS AG-REG /EUR/Unknown0.76%0.77%+0.01%
▲ UPSPOTSPOTIFY TECHNOLOGY SAGrowth0.35%0.36%+0.01%
▲ UPUBSGUBS GROUP AG-REG /CHF/Growth1.12%1.13%+0.01%
▲ UPVODVODAFONE GROUP PLC /GBP/Defensive0.42%0.43%+0.01%
▲ UP1299AIA GROUP LTD /HKD/Growth1.13%1.14%+0.01%
▲ UP1308SITC INTERNATIONAL HOLDI /HKD/Defensive0.15%0.16%+0.01%
▲ UP4519CHUGAI PHARMACEUTICAL CO /JPY/Growth0.36%0.37%+0.01%
▲ UP6501HITACHI LTD /JPY/Defensive0.75%0.76%+0.01%
▼ DN7741HOYA CORP /JPY/Growth0.79%0.78%-0.01%
▼ DN8267AEON CO LTD /JPY/Defensive0.62%0.61%-0.01%
▼ DN8830SUMITOMO REALTY & DEVELO /JPY/Unknown0.51%0.50%-0.01%
▼ DNASMASM INTERNATIONAL NV /EUR/Defensive0.41%0.40%-0.01%
▼ DNASSABASSA ABLOY AB-B /SEK/Defensive0.71%0.70%-0.01%
▼ DNATCOBATLAS COPCO AB-B SHS /SEK/Defensive0.13%0.12%-0.01%
▼ DNBA.LBAE SYSTEMS PLC /GBP/Unknown0.29%0.28%-0.01%
▼ DNBATSBRITISH AMERICAN TOBACCO /GBP/Defensive1.31%1.30%-0.01%
▼ DNCAPCAPGEMINI SE /EUR/Unknown0.33%0.32%-0.01%
▼ DNENR.GYSIEMENS ENERGY AG /EUR/Unknown0.84%0.83%-0.01%
▼ DNESLTELBIT SYSTEMS LTD /ILS/Defensive0.09%0.08%-0.01%
▼ DNG1AGEA GROUP AG /EUR/Defensive0.19%0.18%-0.01%
▼ DNGSKGSK PLC /GBP/Defensive0.64%0.63%-0.01%
▼ DNIFXINFINEON TECHNOLOGIES AG /EUR/Unknown0.51%0.50%-0.01%
▼ DNIMBIMPERIAL BRANDS PLC /GBP/Defensive0.25%0.24%-0.01%
▼ DNINDTINDUTRADE AB /SEK/Defensive0.24%0.23%-0.01%
▼ DNKNEBVKONE OYJ-B /EUR/Defensive0.26%0.25%-0.01%
▼ DNLUMIBANK LEUMI LE-ISRAEL /ILS/Growth0.59%0.58%-0.01%
▼ DNNEMNEMETSCHEK SE /EUR/Defensive0.13%0.12%-0.01%
▼ DNNESNNESTLE SA-REG /CHF/Defensive0.65%0.64%-0.01%
▼ DNNOVOBNOVO NORDISK A/S-B /DKK/Growth0.55%0.54%-0.01%
▼ DNPRYPRYSMIAN SPA /EUR/Unknown0.34%0.33%-0.01%
▼ DNROROCHE HOLDING AG-BR /CHF/Growth0.07%0.06%-0.01%
▼ DNSCHNSCHINDLER HOLDING AG-REG /CHF/Defensive0.49%0.48%-0.01%
▼ DNSGDCASHSGDDefensive0.01%—-0.01%
▼ DNSGESAGE GROUP PLC/THE /GBP/Growth0.17%0.16%-0.01%
▼ DNSGPSTOCKLAND /AUD/Growth0.27%0.26%-0.01%
▼ DNTEL2BTELE2 AB-B SHS /SEK/Growth0.10%0.09%-0.01%
▼ DNUCBUCB SA /EUR/Growth0.14%0.13%-0.01%
▼ DNVWSVESTAS WIND SYSTEMS A/S /DKK/Defensive0.20%0.19%-0.01%
▼ DNZURNZURICH INSURANCE GROUP AG /CHF/Growth1.01%1.00%-0.01%
▼ DN4062IBIDEN CO LTD /JPY/Unknown0.23%0.22%-0.01%
▼ DN4063SHIN-ETSU CHEMICAL CO LT /JPY/Unknown0.42%0.41%-0.01%
▼ DN5802SUMITOMO ELECTRIC INDUST /JPY/Defensive0.18%0.17%-0.01%
▼ DN5803FUJIKURA LTD /JPY/Defensive0.32%0.31%-0.01%
▼ DN6146DISCO CORP /JPY/Growth0.33%0.32%-0.01%
▼ DNLDOLEONARDO SPA /EUR/Defensive0.56%0.54%-0.02%
▼ DNNOVNNOVARTIS AG-REG /CHF/Growth1.34%1.32%-0.02%
▼ DN2914JAPAN TOBACCO INC /JPY/Defensive0.78%0.76%-0.02%
▼ DNAZNASTRAZENECA PLC /GBP/Defensive1.87%1.84%-0.03%
▼ DNROPROCHE HOLDING AG /CHF/Growth1.51%1.47%-0.04%
▼ DN285AKIOXIA HOLDINGS CORP /JPY/Growth0.57%0.52%-0.05%