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Investors concerned about the swift index change can potentially find some relief in knowing that HACK’s new benchmark is similar to its old index.
“The Prime Cyber Defense Index breaks eligible companies into two categories – architecture and application providers. Total market cap of companies within each segment is used to determine the weighting of each of the two primary segments,” notes Seeking Alpha.
There is competition on the cybersecurity ETF space. For instance, the First Trust Nasdaq Cybersecurity ETF (NASDAQ: CIBR) is just over two years old and has $272.2 million in assets under management. That ETF holds 30 stocks and tracks the Nasdaq CTA Cybersecurity Index. CIBR’s top 10 holdings combine for almost half of the ETF’s weight.
For more information on the ETF industry, visit our current affairs category.