The technology sector, the largest sector weight in the S&P 500, has disappointed to this point in 2016, but some technology exchange traded funds appear poised to rebound if a risk-on rally leads investors back to the sector.

Tech ETF rebound candidates include the PureFunds ISE Cyber Security ETF (NYSEArca: HACK). The once high-flying HACK has not been immune to the recent pullbacks endured by previously high-flying sectors. Still, the case for the ETF remains solid because of a steady stream of cyber security breaches.

According to Goldman Sachs, there have been 17 high-profile cyber security breaches since the second quarter of 2014 involving companies such as Apple (NasdaqGS: AAPL), Tesla (NasdaqGS: TSLA), Starbucks (NasdaqGS: SBUX) and, on multiple occasions, the federal government. HACK debuted in November, so it has been around for at least 10 of the cyber scrares mentioned by Goldman. [New Highs for Cyber Security ETF]

“Regardless of whether your company is making more money this year or losing money, you can still potentially be affected by a cyber-threat. You have to spend on cyber security regardless of the business cycle,” said PureFunds CEO Andrew Chanin in an interview with TheStreet.com.

β€œThe average cost of the most severe online breaches for large companies now starts at about $2.24 million, up from about $921,000 last year,” reports Rachel King for the Wall Street Journal.

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