According to CoinMeta, the anti-AI ETF strategy has been launched, with its largest holdings including engines, trucks, and air conditioning systems. Cummins ( CMI ) set a record of $2.3 billion in power system sales in the second quarter, a year-on-year increase of 19%, mainly by directly selling standby diesel generators to AI data centers. AutoZone ( AZO ) and Lennox ( LII ) supported the LOHA's physical moat theory, despite Lennox's residential income declining by 30% due to high mortgage loan rates. Roundhill's LOHA ETF was launched in May 2026, aimed at competing against the passive equity investment portfolios dominated by software and AI. This ETF is based on 100 American companies and is rebalanced quarterly, with a fee ratio of 0.35%.