Published Date: November 20, 2024
Author: HANetf
• ITEK gained 1.34% in October. • Big Tech 3rd quarter earnings impressed; 30%+ Cloud revenue gains for Google & Microsoft. • Record AI chip spending powers NVIDIA to world’s most valuable company, ahead of Apple. • Lower US inflation – Federal Reserve expected to make additional rate cuts, potentially positive tailwind for ITEK. • ITEK P/E valuations remain below 20, attractive vs. Nasdaq above 30X. • For 2024, best subthemes have been Blockchain, Digital Entertainment, Social Media, Cloud & Cybersecurity. • For October – Social Media & Blockchain best performers. Future Cars & Genomics laggards. • Unlike 100% US centric Nasdaq & many Tech Indices/Funds. • Fast adoption of OpenAI, ChatGPT & BARD AI – continues 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 Magnificent 7. • Social Media, Cloud, AI, Cybersecurity, EVs, Robotics, and Streaming all interlinked – boosting usage & deals. • ITEK potentially well positioned for broader Tech rally in 2024 beyond Mega-Caps. • Soft landing will help Tech spending & earnings as economic confidence grows. • Top 15 leaders for each Megatrend subtheme – all established firms. • Top 5 holdings less than 10% weight; Top 10 under 14%. Nasdaq approaching 40% & 55% respectively. • Mega-Cap weight still below 9% (Nasdaq 49%). • Global mix: US 58.7%, China 10.4%, Japan 8.4%, South Korea 3.5%, & Australia 3.4%. • Equal Weight top holdings – offers broader diversity vs. Nasdaq & many active Tech funds.
Source of all data: Gins Global / Bloomberg as of 31/10/2024. 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.
• AI Convergence across Tech space – positive for Cloud, Social Media, Gaming, Future Cars & Cybersecurity. • Big Fed rate cuts boosting M&A deals across key ITEK holdings: Large-Caps, Mid-Caps & Small-Caps. • Tech gains broadening beyond Mega-Caps as Fed rate cuts likely – helps equal weight approach. • Two more Fed rate cuts before year-end 2024 – inflation falling and unemployment rising. • Tailwind for Tech stock valuations beyond Magnificent 7 / FAANGs. • US Chips Act & $1tn Infrastructure Bill boosts EVs & big onshoring trend. • Big AI spending boosting Big Tech values & Cloud providers. • Over $2.6tn spending in AI expected within the decade, boosting Cloud spending to an estimated $2.3bn+ too. • ITEK holdings still relatively cheap valuations, majority trading at PEs below 20X. • Many ITEK stocks remain below 2021 levels, undervalued versus Magnificent 7. • Social Media boosted via gaming & video streaming to mobile (expected to double in 3yrs). See chart below for growth. • Online Gaming dominated by Mobile – boosting Digital Entertainment/Videos.
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 31/10/2024 Performance before inception is based on back tested data. Back testing is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such 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 and ETCs, your capital is at risk.
* The SFDR classifications for the funds are documented in their respective supplements and approved by the Central Bank of Ireland. The supplement for each fund can be found on their respective product page.
Active Global Equity Shariah ETF Report | September 2026
September 2026
Future of Defence Report | September 2026
Drone ETF Report | September 2026
Making Europe Great Again ETF | September 2026
Silver ETF Report | September 2026
Ukraine Reconstruction ETF Report | September 2026
Emerging Markets ETF & India Internet ETF Report | August 2026
Copper Miners ETF Report | August 2026
Future of Defence Report | August 2026
Drone ETF Report | August 2026
Gold Miners Screened ETF Report | August 2026
Making Europe Great Again ETF | August 2026
Midstream Energy Dividend ETF Report | August 2026
Ukraine Reconstruction ETF Report | August 2026
Silver ETF Report | August 2026
Active Global Equity Shariah ETF Report | August 2026
August 2026
Uranium Miners Monthly Report | August 2026
Tech Megatrends ETF Report | August 2026
Active Global Equity Shariah ETF Report | July 2026
Tech Megatrends ETF Report | July 2026
Canadian Enhanced Income ETF Quarterly Report | July 2026
Preferred Income Quarterly Report | July 2026
Silver ETF Report | July 2026
Active U.S Bond Quarterly Report | July 2026
July 2026
Healthcare ETF Quarterly Report | July 2026
Uranium Miners Monthly Report | July 2026
Ukraine Reconstruction ETF Report | July 2026
Total Return Income ETF Quarterly Report | July 2026
Midstream Energy Dividend ETF Report | July 2026
Making Europe Great Again ETF | July 2026
Gold Miners Screened ETF Report | July 2026
Cat Bond Quarterly Report | July 2026
Future of Defence Report | July 2026
Active U.S Bond Monthly Report | July 2026
Tech Megatrends ETF Report | June 2026
June 2026
Active Global Equity Shariah ETF Report | June 2026
Ukraine Reconstruction ETF Report | June 2026
Midstream Energy Dividend ETF Report | June 2026
Drone ETF Report | June 2026
Making Europe Great Again ETF Report | June 2026
Future of Defence Report | June 2026
Gold Miners Screened ETF Report | June 2026
Gold Miners Screened ETF | May 2026
May 2026
Tech Megatrends ETF Report | May 2026
Active Global Equity Shariah ETF Report | May 2026
Copper Miners ETF Report | May 2026
Future of Defence Report | May 2026
Drone ETF Report | May 2026
Making Europe Great Again ETF | May 2026
Midstream Energy Dividend ETF Report | May 2026
Ukraine Reconstruction ETF Report | May 2026
Total Return Income ETF Quarterly Report | April 2026
April 2026
Tech Megatrends ETF Report | April 2026
Focused Equity Quarterly Report | April 2026
Cat Bond Quarterly Report | April 2026
Gold Miners ETF Report | April 2026
Making Europe Great Again ETF | April 2026
Midstream Energy Dividend ETF Report | April 2026
REX Covered Call Report | April 2026
Defence ETF Report | April 2026
Active U.S. Bond Quarterly Report | March 2026
Middlefield Canadian Enhances Income ETF Quarterly Report | May 2026
Health Care ETF Quarterly Report | April 2026
Tech Megatrends ETF Report | March 2026
March 2026
Active Global Equity Shariah ETF Report | March 2026
Travel ETF Quarterly Report | March 2026
Tech Megatrends ETF Report | February 2026
February 2026
Midstream Energy Dividend ETF Report | February 2026
Uranium Miners ETF Report | February 2026
Make Europe Great Again ETF Report | February 2026
Gold Miners Screened ETF | February 2026
Defence ETF Report | February 2026
Midstream Energy Dividend ETF Report | January 2026
January 2026
Future of Defence Report | January 2026
Copper Miners ETF Report | January 2026
ESGO Gold Miners Screened ETF Report | January 2026
Tech Megatrends ETF Report | January 2026
Middlefield Enhanced Income ETF Quarterly Report | January 2026
Preferred Income Quarterly Report | January 2026
Active U.S. Bond Quarterly Report | January 2026
Total Return Income ETF Quarterly Report | January 2026
Active Global Equity Shariah ETF Report | January 2026
Making Europe Great Again ETF Report | January 2026
Midstream Energy Dividend ETF Report | November 2025
November 2025
Tech Megatrends ETF Report | November 2025
Emerging Markets ETF & India Internet ETF Report | November 2025
EU Carbon Market Monthly Report | November 2025
Travel ETF Quarterly Report | October 2025
October 2025
Active U.S. Bond Quarterly Report | October 2025
Active Global Equity Shariah ETF Report | October 2025
Future of Defence Report | October 2025
EU Carbon Market Monthly Report | October 2025
Health Care ETF Quarterly Report | October 2025
Uranium Miners ETF Report | October 2025
Midstream Energy Dividend ETF Report | October 2025
Tech Megatrends ETF Report | October 2025
Copper Miners ETF Monthly Report | October 2025
Active Global Equity Shariah ETF Report | September 2025
September 2025
EU Carbon Market Monthly Report | September 2025
Emerging Markets ETF & India Internet ETF Report | September 2025
Tech Megatrends ETF Report | September 2025
Midstream Energy Dividend ETF Report | September 2025
Future of Defence Report | September 2025
Crypto Magnified – The leverage update
Tech Megatrends ETF Report | August 2025
August 2025
Emerging Markets ETF & India Internet ETF Report | August 2025
Midstream Energy Dividend ETF Report | August 2025
Active Global Equity Shariah ETF Report | August 2025
Active Global Equity Shariah ETF Report | July 2025
July 2025
Tech Megatrends ETF Report | July 2025
Active U.S. Bond Quarterly Report | July 2025
Uranium Miners ETF Report | July 2025
Midstream Energy Dividend ETF Report | July 2025
Future of Defence Report | July 2025
Travel ETF Quarterly Report | July 2025
Health Care ETF Quarterly Report | July 2025
EU Carbon Market Monthly Report | July 2025
Emerging Markets ETF & India Internet ETF Report | July 2025
Tech Megatrends ETF Report | June 2025
June 2025
Emerging Markets ETF & India Internet ETF Report | June 2025
EU Carbon Market Monthly Report | June 2025
Active Global Equity Shariah ETF Report | June 2025
Midstream Energy Dividend ETF Report | June 2025
Future of Defence Report | June 2025
Uranium Miners ETF Report | June 2025
Copper Monthly Report | June 2025
Active Global Equity Shariah ETF Report | May 2025
May 2025
Midstream Energy Dividend ETF Report | May 2025
Uranium Miners ETF Report | May 2025
Travel ETF Report | May 2025
Emerging Markets ETF & India Internet ETF Report | May 2025
EU Carbon Market Monthly Report | May 2025
Future of Defence Report | May 2025
Tech Megatrends ETF Report | May 2025
Active Global Equity Shariah ETF Report | April 2025
April 2025
ESG Copper Miners ETF Report | April 2025
Tech Megatrends ETF Report | April 2025
Midstream Energy Dividend ETF Report | April 2025
Future of Defence Report | April 2025
Active U.S. Bond Quarterly Report | April 2025
Uranium Miners ETF Report | April 2025
Health Care ETF Quarterly Report | April 2025
Emerging Markets ETF & India Internet ETF Report | April 2025
EU Carbon Market Monthly Report | April 2025
Travel ETF Report | April 2025
Midstream Energy Dividend ETF Report | March 2025
March 2025
Copper Monthly Report | March 2025
Active Global Equity Shariah ETF Report | March 2025
Future of Defence ETF Report | March 2025
Travel ETF Report | March 2025
Uranium Miners ETF Report | March 2025
Emerging Markets ETF & India Internet ETF Report | March 2025
Tech Megatrends ETF Report | March 2025
Emerging Markets ETF & India Internet ETF Report | February 2025
February 2025
EU Carbon Market Monthly Report | February 2025
Uranium Miners ETF Report | February 2025
Tech Megatrends ETF Report | February 2025
Active Global Equity Shariah ETF Report | February 2025
Crypto Report | February 2025
Midstream Energy Dividend ETF Report | February 2025
Travel ETF Report | February 2025
Future of Defence Report | Feburary 2025
Emerging Markets ETF & India Internet ETF Report | January 2025
January 2025
Copper Monthly Report | January 2025
Active U.S Bonds Quarterly Report | January 2025
Midstream Energy Dividend ETF Report | January 2025
EU Carbon Market Monthly Report | January 2025
Uranium Miners ETF Report | January 2025
Active Global Equity Shariah ETF Report | January 2025
Future of Defence Report | January 2025
Travel ETF Report | January 2025
Health Care ETF Quarterly Report | January 2025
ESG Gold ETF Report | January 2025
Crypto Report | January 2025
Active Global Equity Shariah ETF Report | December 2024
December 2024
Emerging Markets ETF & India Internet ETF Report | December 2024
Midstream Energy Dividend ETF Report | December 2024
Future of Defence Report | December 2024
Travel ETF Report | December 2024
EU Carbon Market Monthly Report | December 2024
Tech Megatrends ETF Report | December 2024
ESG Gold ETF Report | December 2024
EU Carbon Market Monthly Report | November 2024
November 2024
Emerging Markets ETF & India Internet ETF Report | November 2024
Midstream Energy Dividend ETF Report | November 2024
Active Global Equity Shariah ETF Report | November 2024
Future of Defence Report | November 2024
Travel ETF Report | November 2024
ESG Gold ETF Report | November 2024
Uranium Miners ETF Report | October 2024
October 2024
EU Carbon Market Monthly Report | October 2024
Health Care ETF Quarterly Report | October 2024
Midstream Energy Dividend ETF Report | October 2024
Emerging Markets ETF & India Internet ETF Report | October 2024
Active Global Equity Shariah ETF Report | October 2024
Crypto Report | October 2024
ESG Gold ETF Report | October 2024
Tech Megatrends ETF Report | October 2024
Future of Defence Report | October 2024
Travel ETF Report | October 2024
Emerging Markets ETF & India Internet ETF Report | September 2024
September 2024
Uranium Miners ETF Report | September 2024
Active Global Equity Shariah ETF Report | September 2024
Crypto Report | September 2024
Midstream Energy Dividend ETF Report | September 2024
Future of Defence Report | September 2024
Travel ETF Report | September 2024
ESG Gold ETF Report | September 2024
Tech Megatrends ETF Report | September 2024
Energy Transition Materials ETF Report | August 2024
August 2024
Tech Megatrends ETF Report | August 2024
Emerging Markets ETF & India Internet ETF Report | August 2024
Defence and Aerospace ETF Report | August 2024
Midstream Energy Dividend ETF | August 2024
Active Global Equity Shariah ETF Report | August 2024
ESG-Screened Gold Miners ETF Report | August 2024
Crypto Report | August 2024
Active Global Equity Shariah ETF Report | July 2024
July 2024
Emerging Markets ETF & India Internet ETF Report | July 2024
Midstream Energy Dividend ETF | July 2024
Defence and Aerospace ETF Report | July 2024
Uranium Miners ETF Report | July 2024
Energy Transition Materials ETF Report | July 2024
Crypto Report | July 2024
ESG-Screened Gold Miners ETF Report | July 2024
Tech Megatrends ETF Report | July 2024
Midstream Energy Dividend ETF | June 2024
June 2024
Active Global Equity Shariah ETF Screened Report | June 2024
Emerging Markets ETF & India Internet ETF Report | June 2024
Tech Megatrends ETF Report | June 2024
Uranium Miners ETF Report | June 2024
Energy Transition Material ETF Report | June 2024
Future of Defence Report | June 2024
ESG-Screened Gold Miners ETF Report | June 2024
Crypto Report | June 2024
5G Digital Infrastructure ETF Report | May 2024
May 2024
Emerging Markets ETF & India Internet ETF Report | May 2024
Midstream Energy Dividend ETF Report | May 2024
Energy Transition Material ETF Report | May 2024
Crypto Report | May 2024
Global Equity Active Shariah ETF Screened Report | May 2024
Tech Megatrend ETF Report | May 2024
Future of Defence Report | May 2024
ESG-Screened Gold Miners ETF Report | May 2024
Global Equity Active Shariah ETF Screened Report | April 2024
April 2024
Crypto Report | April 2024
5G Digital Infrastructure ETF Report | April 2024
Emerging Markets ETF & India Internet ETF Report | April 2024
Tech Megatrends ETF Report | April 2024
Midstream Energy ETF | April 2024
Energy Transition Material ETF Report | April 2024
Uranium Miners ETF Report | April 2024
ESG-Screened Gold Miners ETF Report | April 2024
Future of Defence ETF Report | Apr 2024
5G Digital Infrastructure ETF Report | Mar 2024
March 2024
Tech Megatrend ETF Report | March 2024
Airlines ETF Report | Mar 2024
Midstream Energy ETF Report | Mar 2024
Future of Defence ETF Report | Mar 2024
Emerging Markets and India Internet ETF Report | Mar 2024
Energy Transition Materials ETF Report | Mar 2024
Uranium Miners ETF Report | Mar 2024
Decarbonisation Enablers ETF Report | Mar 2024
Crypto Report | Mar 2024
Metaverse ETF Report | March 2024
Global Equity Shariah ETF Screened Report | Mar 2024
ESG Gold Mining ETF Report | Mar 2024
ESG Gold Mining ETF Report | Feb 2024
February 2024
Energy Transition Materials ETF Report | Feb 2024
Global Equity Active Shariah ETF Screened Report | Feb 2024
Decarbonisation Enablers ETF Report | Feb 2024
EV Charging Infrastructure ETF Report | Feb 2024
Midstream Energy ETF Report | Feb 2024
Uranium Miners ETF Report | Feb 2024
Future of Defence ETF Report | Feb 2024
Crypto Report | Feb 2024
Cloud Technology ETF Report | Feb 2024
Digital Assets Report | Feb 2024
Tech Megatrend ETF Report | Feb 2024
Airlines ETF Report | Feb 2024
Monthly Global Equity Active Shariah Screened Report | January 2024
January 2024
Monthly Decarbonisation Enablers Report | January 2024
Emerging Markets ETF Monthly Report | January
Digital Infrastructure ETF Monthly Report | January
EV Charging Infrastructure ETF Monthly Report | January
Crypto Monthly Report | January
Islamic Equity Monthly Report | December
December 2023
Midstream Energy Monthly Report | December
Airlines ETF Monthly Report | December
Future of Defence ETF Monthly Report | December
ESG-Screened Gold Miners ETF Monthly Report | December
Emerging Markets ETF Monthly Report | November
November 2023
Energy Transition Materials ETF | Monthly Report
Future of Defence ETF Monthly Report | November
Midstream Energy ETF Monthly Report | November
Travel ETF Monthy Report | November
ESG Gold Mining ETF Monthly Report | November 2023
Future of Finance ETF Monthly Report | November
Shariah ETF Monthly Report | November
Airlines Monthly Report | November
Digital Infrastructure ETF Monthly Report | November
Crypto Monthly Report | November
Digital Assets Monthly Report | November
Select Your Country
Select Your Investor Type
Choose a brokerage
Choose a product
You are now leaving HANetf's website and accessing a third-party website. HANetf may provide access to information, products, or services offered on websites that are owned or operated by other companies ("third-party websites"). We provide this access through the use of hyperlinks that automatically move you from a HANetf website to the third-party site.
While we do our best to provide you with helpful, trustworthy resources, HANetf cannot endorse, approve, or guarantee information, products, services, or recommendations provided at a third-party website. Since we may not always know when information on a linked site changes, HANetf is not responsible for the content or accuracy of any third-party website. HANetf shall not be responsible for any loss or damage of any sort resulting from the use of a link on its websites nor will it be liable for any failure of products or services advertised or provided on these linked sites.
HANetf offers you links on an "as is" basis. When you visit a third-party website by using a link on a HANetf site, you will no longer be protected by the HANetf privacy policy or security practices. The data collection, use, and protection practices of the linked site may differ from the practices of HANetf sites. You should familiarize yourself with the privacy policy and security practices of the linked website. Those are the policies and practices that will apply to your use of the linked website, not the HANetf policies and practices.
Here are some tips to help you tell if you have left a HANetf website:
Important Notice: HANetf is a provider of Exchange Traded Funds (ETFs) and Exchange Traded Commodities (ETCs). We do not sell investment products directly to individual investors. Our funds are available through regulated investment platforms and brokers. Our only official website is www.hanetf.com. Any other domain is not affiliated with or authorised by HANetf in any way. If you suspect fraudulent activity, please contact your local financial regulator and/or the police and report the website or individual involved.