Robo advisors “create investment portfolios based off of automated strategies.” They’re basically a set-it-and-forget-it investment strategy.
You might have heard of Wealthfront and Betterment – those are robo advisors 🤖
Day Trade Review deposited $5000 in each of five different robo advisors and have been measuring the performance and benchmarking them against the SPY ETF.
After a year, the SPY benchmark has mostly held the top spot but has also proven the most volatile. Wealthsimple is the only robo advisor portfolio in the case study that’s currently profitable.
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