Tech Megatrends ETF Report | April 2026

Equal Weight ETF Key Takeaways

  • ITEK retreated -7% in the month of March.[1]
  • P/E ratio valuations plunged in March, which helped Tech stocks rebound. (see chart)
  • Global diversification of the fund helped to limit downside (US 63.3%, China 9.8%, Japan 6.6%, S. Korea 2.5%, Israel 2.3%).[2]
  • The fund’s Price/earnings ratio is averaging below 20X, which helps produce an attractive valuation level.[3]
  • US fiscal stimulus and lower interest rates creates a potential buying opportunity
  • ITEK positioned for broader Tech rally, beyond Mega-Caps, partly because sizeable M&A activity is increasing.
  • Fast adoption of AI is boosting Cloud Computing, AI, and Cybersecurity spending, thanks in part to record AI data-center build-out.[4]
  • Impressive 1st quarter Tech earnings are expected to grow 45.1%, which could boost broader Tech holdings.[5]
  • Tailwinds for ITEK due to low US inflation, more Fed rate cuts and weak US$.
  • Top 10 holdings represent only 14% weight versus Nasdaq’s narrowness which exceeds 50% for the top 10.[6]
  • The 2026 year-to-date best themes are Defence Tech and AI-Robotics.
  • Cybersecurity remains undervalued and a beneficiary of AI adoption and Corporate Tech budget allocation.
  • The fund has equal weight across 10 subthemes (15 leading holdings per theme).
  • The fund added 2 new subthemes, Quantum Computing & Defense Tech. There are now 138 Total ITEK Holdings.[7]
  • The fund’s diversified equal weight helps ensure ITEK benefits from Global Tech convergence gains.

Source of all performance data: HANetf; Bloomberg as of 31.03.2026. Past performance is not indicative of future performance and when you invest in ETFs your capital is at risk.

Source: LSEG. As of 18/04/2026

Macro Outlook

  • A weaker US$ is boosting foreign earnings & exports for bigger Tech players.
  • Trump’s fiscal stimulus and push for lower rates presents a tailwind for Tech stocks.
  • Almost $3tn spending in AI within decade, which could boost Cloud spending to $3.5tn+.[8]
  • Despite Iran War, the US Economy remains resilient – 3.5% GDP possible in 2026.[9]
  • AI Convergence across Tech is potentially positive for Cloud, Social Media, Gaming, Future Cars & Cybersecurity.
  • Tech gains broadening beyond Mag7, thanks in part from global tech adoption rates.
  • Latest US Trade deals with Japan, India & S. Korea are good for many US Tech leaders.
  • Trump reducing tariffs and doing more trade deals, is limiting inflation impact.
  • Business-friendly US policies such as lowering taxes & increased investment buildout & onshoring.
  • Expect more M&A activity with the removal of US anti-trust blockages. Presenting a friendlier US Tech regime.
  • Impressive 4th quarter Tech earnings. Information Technology drove roughly two thirds of the 13.2% growth rate that the S&P 500 experienced.[10] Marking the tenth consecutive quarter of double-digit growth for the sector, with many remain at relatively low P/E ratio multiples.[11]

Equal Weight ETF Performance
As of 31.08.2026

ITEK (Fund)SOLITEK (Index)
1M5.23%5.28%
3M-11.01%-10.94%
6M14.22%14.59%
YTD12.25%12.76%
12M13.93%14.76%
3Y72.48%75.38%
Since Inception (05/10/2018)149.13%157.62%


Please note that all performance figures are showing net data. Source: Bloomberg / HANetf. Data as of 31.08.2026

Performance before inception is based on back-tested data. Backtesting is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such a strategy would have been. Back-tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in this product. When you invest in ETFs your capital is at risk.

[1] Source: HANetf, Bloomberg. Data as of 31.03.2026

[2] Source: HANetf; The ETF Database. Data as of 22.04.2026

[3] https://uk.investing.com/etfs/itek

[4] https://www.theguardian.com/technology/2025/dec/19/data-centers-ai-investment

[5] https://www.schwab.com/learn/story/tech-earnings-preview

[6] Source: HANetf. Data as of 31.03.2026

[7] Source : HANetf, Bloomberg. Data as of 31.03.2026

[8] https://techcrunch.com/2026/02/28/billion-dollar-infrastructure-deals-ai-boom-data-centers-openai-oracle-nvidia-microsoft-google-meta/

[9] https://www.reuters.com/business/us-economy-can-grow-least-35-2026-bessent-tells-fox-news-2026-02-20/

[10] https://markets.financialcontent.com/stocks/article/marketminute-2026-2-27-silicon-valleys-heavy-lifting-tech-drives-66-of-s-and-p-500-earnings-growth-as-q4-2025-wraps

[11] https://www.nasdaq.com/articles/q4-earnings-tech-expected-remain-growth-driver-0

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