IAI

IAI is the iShares U.S. Broker-Dealers & Securities Exchanges ETF, a fund that tracks an index of American investment banks, brokerages, and stock/derivatives exchange operators (companies like Goldman Sachs, Morgan Stanley, CME Group, and Intercontinental Exchange). It doesn't run a business itself — it simply bundles shares of these financial-market companies so investors get exposure to the whole group at once, and its value moves with the combined fortunes of Wall Street's trading and dealmaking industry.