Tech Megatrends ETF Report | March 2026

Equal Weight ETF Key Takeaways

  • ITEK retreated (-4.7%) in February after gaining 3.3% in January, and 19.1% for 2025.
  • Concerns regarding the Iranian War and spiking oil prices, resulted in a selloff across Wall Street.
  • Mag7 stocks underperformed – fell by -6.7% in February compared to January 2026 was +0.2% – our Equal Weighting which offset ITEK losses.
  • The Fund’s global diversification helped to limit downside – US 57%, China 10.6%, Japan 10.2%, S. Korea 3.4%, Germany 2.4%.[1]
  • Fund’s Price/earnings ratio averages 19.5X. Well below Nasdaq (27.6X) & Mag7 (28.3X) levels.[2][3]
  • US fiscal stimulus and lower interest rates present a buying opportunity.
  • ITEK is positioned for broader Tech rally, not limited to Mega-Caps due to sizable M&A activity increasing.
  • Fast adoption of AI is boosting Cloud Computing, AI & Cybersecurity spend. There is record AI data-centre build-out.
  • Impressive 4th quarter Tech earnings which beat expectations & lower US Tariffs are positive for broader Tech holdings.[4]
  • Tailwinds for ITEK are low US inflation, more Fed rate cuts and weak US$.
  • See the top gainers across multiple Tech themes.
  • ITEK’s overall P/E valuation below 21X.
  • Top 10 holdings represent only 14.3% weight versus Nasdaq’s narrowness exceeding 50% for Top 10.
  • Best February themes: Future Cars up 7.3% and AI-Robotics 1.4%.
  • 2026 Year to Date best themes: Defence Tech up 14.8% and AI-Robotics 7.1%.
  • Cybersecurity remains undervalued and a big beneficiary of AI adoption and Corporate Tech budget spend.
  • The business-friendly Trump Presidency has seen lowered taxes, with large fiscal stimulus and Capex benefits, which have boosted M&A
  • Equal weight across 10 subthemes (15 leading holdings per theme).
  • Added 2 new subthemes Quantum Computing & Defence Tech. 140 Total ITEK Holdings now.
  • Diversified Equal weight – ensures ITEK benefits from Global Tech convergence gains.

Source of all performance data: HANetf; Bloomberg as of 28.02.2026. Past performance is not indicative of future performance and when you invest in ETFs your capital is at risk.

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+.[5]
  • Despite Iran War, the US Economy remains resilient – 3.5% GDP possible in 2026.[6]
  • 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.[7] Marking the tenth consecutive quarter of double-digit growth for the sector, with many remain at relatively low P/E ratio multiples.[8]

Subtheme Returns – January

ContributionContribution (%)Average Return (%)Sum of Weight (%)*Count*
AI & Robotics0.11%1.38%12.68%15
Blockchain-0.96%-7.83%10.51%15
Cloud Computing-0.94%-9.12%9.52%15
Cyber Security-0.80%-8.48%10.52%15
Defence Technology-0.91%-6.07%13.30%15
Digital Entertainment-0.51%-6.02%7.76%15
Future Cars0.97%7.29%12.47%15
Genomics-0.17%-0.98%11.20%15
Quantum Computing-0.23%-6.66%3.41%5
Social Media-1.26%-13.16%9.00%15
Total-4.71%

*After rebalancing
Source of all data: Solactive. Data as of 28.02.2026. Past performance is no guarantee of future performance.

Largest Contributors – January

HOLDINGSIndex CategoryContribution (%)Return
(%)
Average Weight (%)
SUMITOMO ELECTRIC INDUSTRIES LTDFuture Cars0.55%54.30%1.44%
CIRCLE INTERNET GROUP INCBlockchain0.10%30.52%0.35%
TERAWULF INCBlockchain0.21%21.32%1.19%
INSTITUTE FOR Q SHU PIONEERS OF SPACE Defence Technology0.12%21.04%0.74%
ARM HOLDINGS ADRAI & Robotics0.11%20.97%0.64%
STMICROELECTRONICS NVFuture Cars0.13%19.19%0.86%
KEYENCE CORP ORDAI & Robotics0.10%17.04%0.71%
NETFLIX INCDigital Entertainment0.07%15.27%0.48%
RENESAS ELECTRONICS CORPFuture Cars0.13%15.26%1.11%
SUMMIT THERAPEUTICS PLCGenomics0.06%14.57%0.47%
ANALOG DEVICES INCFuture Cars0.12%14.45%0.97%
FANUC CORPAI & Robotics0.12%13.46%1.08%
BRISTOL-MYERS SQUIBB COGenomics0.11%13.30%0.92%
MERCK & CO. INC.Genomics0.11%12.29%1.03%
MEDIATEKAI & Robotics0.10%10.51%0.94%
INFINEON TECHNOLOGIES AGFuture Cars0.08%10.13%0.91%
CORTEVA INCGenomics0.07%10.05%0.73%
TELEDYNE TECHNOLOGIES INCAI & Robotics0.08%9.80%0.88%
LG ENERGY SOLUTIONFuture Cars0.06%7.29%0.79%
NEBIUS GROUP NVCyber Security0.06%7.04%0.99%
RIOT PLATFORMS INCBlockchain0.04%5.30%0.80%
SUMITOMO ELECTRIC INDUSTRIES LTDFuture Cars0.55%54.30%1.44%
CIRCLE INTERNET GROUP INCBlockchain0.10%30.52%0.35%
TERAWULF INCBlockchain0.21%21.32%1.19%

Source of all data: Solactive. Data as of 28.02.2026. Past performance is no guarantee of future performance.

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; The ETF Database. Data as of 28.02.2026

[2]https://www.advisorperspectives.com/dshort/updates/2026/03/04/pe10-market-valuation-february-2026#:~:text=This%20article%20examines%20market%20valuation,P/E10%20ratio%20is%2039.0.

[3] https://www.lseg.com/en/insights/data-analytics/magnificent-7-q4-2024-earnings-review-growth-holds-rotation-awaits

[4] https://www.forbes.com/sites/bill_stone/2026/02/08/q4-earnings-beat-but-ai-capex-clouds-big-tech-outlook/

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

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

[7] 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

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

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