Published Date: February 24, 2025
Author: HANetf
• ITEK gained 5.9% in January. • Largely driven by Blockchain, Digital Entertainment, Social Media, Cloud Computing, Cybersecurity & Genomics. • Record AI chip spending continues. • Tailwinds for ITEK included U.S. election win for expected more business-friendly Trump Presidency. • ITEK’s overall P/E valuations remain at big discount to Nasdaq 100 and Mag7 levels – well above 30X. • Subthemes led by 9.3% Genomics gain, Cybersecurity 8.9%, and Digi Entertainment 7.3%. • ITEK global mandate – not 100% US centric like Nasdaq and many Tech Indices/Funds. • Demand and fast adoption of AI – boosting Cloud Computing and AI spend. • Equal weight across 8 subthemes (12.5% per theme; 120 total holdings, 15 per subtheme). • Tech Convergence and AI – boosts broader Tech gains across ITEK holdings, beyond Mag7. • ITEK potentially well positioned for broader Tech rally beyond Megacaps. • Top 15 leaders for each Megatrend subtheme – all established firms. • Top 10 holdings represent only 15% weight; Nasdaq very narrow concentration ~50%. • Megacap weight still below 9% (Nasdaq 49%). • Global mix: US 62.4%, China 9.9%, Japan 7.7%, Germany 3.5%. • Equal Weight – offers far broader diversity vs. Nasdaq and many active Tech funds.
Source of all data: Gins Global / Bloomberg as of 31/01/2025. Additional sources available upon request. Please note that all performance figures are showing net data. Past performance is not indicative of future performance and when you invest in ETFs, your capital is at risk.
• Trump deregulation and business friendly policies potentially presents significant ITEK upside. • Removal of FTC’s M&A blockages and friendlier crypto and SEC regimes. • Tech tailwinds for firms below Megacaps – likely to be acquisition targets as trade at huge valuation discounts to the Mag7/FAANGS. • Trump’s embrace of Silicon Valley executives may bode well for Tech. • DOGE – more U.S. Government outsourcing of IT services including Cloud, AI, and Cybersecurity likely. • Tariff polices/threats – boosting demand for Robotics & Automation – as onshoring grows. • Later this year lower Fed rates should kick in too – helping many tech players below the Mag7. • Broadening out of Tech gains beyond Mag7 – as influx of capital into U.S. Tech continues. • Earnings beats for ITEK remain positive – ratio of at least 2:1 for Q4. • Tailwinds from more Fed rate cuts, less red-tape and possible lower taxes also helpful! • AI Convergence across Tech space – positive for Cloud, Social Media, Gaming, Future Cars & Cybersecurity. • Tech gains broadening beyond Mega-Caps as Fed rate cuts still likely – helps equal weight approach. • Big AI spending boosting Big Tech values and Cloud providers. • Over $2.6tn spending in AI expected within decade, boosting Cloud spending to $2.3bn+ too. • ITEK holdings still relatively cheap valuations, majority trading at PEs below 20X. • Many ITEK holdings remain very undervalued versus Magnificent 7.
Source of all data: Solactive. Past performance is no guarantee of future performance.
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.
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