Put simply, on nearly every occasion when an entity such as the U.S. government or a company Sony Pictures, such as Apple (NasdaqGS: AAPL), Tesla (NasdaqGS: TSLA), Starbucks (NasdaqGS: SBUX) suffer a cyber security breach, HACK rises and follows through. The ETF is up 25.1% this year, more than triple the 7.4% gain posted by the Nasdaq Composite. [New Highs for Cyber Security ETF]
HACK’s index “tracks the performance of companies actively engaged in providing services for cyber security and for which cyber security business activities are a key driver of their business model. These cyber security services are designed to protect computer hardware, software, networks and data from unauthorized access, vulnerabilities, attacks and other security breaches,” according to PureFunds.
There are some other superlatives surrounding HACK’s ascent to $1 billion in assets under management. First, that means the ETF has added about $250 million just this month. Second, HACK needed just eight months to get $1 billion. To put that into context, that is the same amount of time the First Trust Dorsey Wright Focus 5 ETF (NasdaqGM: FV), widely regarded as the most successful ETF to debut last year, needed to get to the same milestone.
PureFunds ISE Cyber Security ETF