$Tuttle Capital Pure Play Photonics ETF(FOTO.US) fell less than one point, $Corgi Lithography & Smcndctr Phtncs ETF(EUV.US) also barely moved. Both of these thematic ETFs are very quiet. 🙃

Photonics and advanced lithography are relatively early-stage directions in the AI computing power chain. Thematic ETFs bundle a basket of small-cap stocks, resulting in smaller volatility compared to single stocks. Recently, the semiconductor sector as a whole has been digesting the sentiment around memory order cuts. Without independent catalysts, this type of thematic ETF just moves sideways with the sector, waiting for signals of the next round of equipment capital expenditure.