The Roundhill AI Power & Infrastructure ETF (APOW) will focus on companies supplying the electricity and infrastructure needed to support AI and high-density computing. At least 80% of assets will provide exposure to AI power and infrastructure companies, spanning utilities, power generation, transformers, grid equipment, transmission cables, data-center cooling, backup power, nuclear and gas turbines, energy storage and electrical engineering services. Roundhill will use a modified market-cap approach favoring larger incumbents and rebalance at least quarterly. The actively-managed ETF may invest globally, including emerging markets, use derivatives for exposure, and will concentrate more than 25% of assets in industrials.