Quantum computing ETFs are booming this year. Here's why.

00:00 Speaker A

Time now for this week's ETF report brought to you by PIMCO. And we have some interesting news today, sort of related to an ETF. There's an individual stock, IonQ, Quantum. Um, the quantum trade has been hot, hot, hot this year. It's hot and cold and hot and cold. Like it's pretty volatile. But overall, QTUM, which I believe is the largest ETF that tracks the quantum trade, is up 41% year to date. It's about a $5.7 billion ETF. And and IonQ is one of the bigger players within quantum. The shares are up 12% this morning. Um, it announced something that we are all struggling to understand.

00:46 Speaker A

Uh basically it said it it developed and tested successfully the industry's, what it says is the industry's first end-to-end real-time quantum error correction decoder that runs on a single standard off-the-shelf central processing unit. What does all of that mean? Well, basically, um quantum as it exists now, is not sort of totally ready for commercialization yet. One of the issues is, as although it's very fast and it computes a lot at once, it makes mistakes. And so one of the quests within the quantum computing um arena is to try to decrease those mistakes. And so this is what this is towards doing and is seen as a big step forward within Quantum as my brain understands it.