Tech Megatrends ETF Report | September 2025

Equal Weight ETF Key Takeaways

  • ITEK gained 4.4% in August, rebounding almost 40% since April lows.[1] 2025 gains of 17.4% year-to-date.
  • Impressive 2nd quarter Tech earnings and lower US Tariffs on key partners – boosted Tech holdings.
  • Tailwinds for ITEK – pending Fed rate cuts in September, weak US$ and falling inflation.
  • September changes – two new subthemes, Quantum Computing and Defence Tech, being added.
  • Renaming our ‘Robotics & Automation’ theme as AI & Robotics.
  • Trump’s tariffs focus on goods, not services – barely impacting most ITEK holdings.
  • Broad global holdings boost ITEK gains: US 52.2%, China 14.7%, Japan 8.2%, Australia 5.4%, Canada 3.2%.
  • Diversified Equal weight ensures ITEK benefits from Global Tech convergence gains.
  • Top 10 holdings represent only 15.4% weight; Nasdaq’s narrow concentration exceeds 52% for Top 10.
  • Best August subtheme returns: Blockchain 10.1% up, Genomics & Future Cars both 5% up & Social Media 4.3%.
  • Best 2025 themes: Digi Entertainment 32.1%, Blockchain 21.7%, Cybersecurity 18.4%, Social Media 14.8%, Cloud 13.9%.
  • ITEK’s overall P/E valuation below 20X, remains discounted versus Nasdaq 100 and Mag7 levels, above 30X.
  • Top 15 leaders for each Megatrend subtheme – all established firms.
  • Buying opportunity at these levels – access leading Global Tech companies.
  • ITEK positioned for broader Tech rally beyond Mega-Caps.
  • Oracle big gains included – while excluded from Nasdaq & Mag7.
  • Business-friendly Trump Presidency lowering taxes and boosting Tech M&A space.
  • Fast adoption of AI – boosting Cloud Computing, AI and Cybersecurity spend.
  • Equal weight across 10 subthemes (15 leading holdings per theme).

Source of all performance data: HANetf; Bloomberg as of 31.08.2025. Past performance is not indicative of future performance and when you invest in ETFs your capital is at risk.

Macro Outlook

  • Weaker US job gains and lower inflation – likely multiple Fed rate cuts, starting in September.[2] Potentially boosts Tech and growth stock attractiveness.
  • Impressive 3%+ US GDP growth in 2nd quarter – tariff impact muted.
  • Trump’s Big Fiscal Tax Bill passed, lowering taxes – improved sentiment.
  • Lower Trump Tariffs – good for Global Tech players.
  • Most ITEK holdings remain very undervalued versus Magnificent 7.
  • Healthy 2nd quarter earnings, including most ITEK holdings.
  • Tariffs ignite demand for Robotics & Automation – US onshoring grows.
  • US Tariffs immaterial impact on Tech software and service firms.
  • AI Convergence across Tech – positive for Cloud, Social Media, Gaming, Future Cars and Cybersecurity.
  • Big AI spending continuing, boosting AI players and Cloud providers.
  • Removal of FTC’s M&A blockages and friendlier crypto and SEC regimes.
  • Broadening out of Tech gains beyond Mag7 – influx of capital into US Tech continues.
  • Over $2.6tn spending in AI expected within a decade; potentially boosting Cloud spending to $3.5bn+ too.[3]

Subtheme Returns – August

ContributionContribution (%)Average Return (%)Sum of Weight (%)
Blockchain1.74%10.14%15.27%
AI & Robotics0.13%0.69%11.12%
Genomics0.55%5.04%11.72%
Cyber Security0.38%1.76%11.62%
Future Cars0.65%5.04%11.58%
Digital Entertainment0.45%2.40%13.81%
Cloud Computing-0.11%-0.37%12.10%
Social Media0.63%4.31%12.78%
Total4.42%  

 

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

Largest Contributors – August

HOLDINGSIndex CategoryContribution (%)Return
(%)
Average Weight (%)
TERAWULF INCBlockchain0.75%83.14%1.29%
IRIS ENERGY LTDBlockchain0.93%64.37%1.76%
REDDIT INCSocial Media0.29%40.16%0.99%
CIPHER MINING INCBlockchain0.39%39.93%1.03%
NATERA INCGenomics0.16%25.88%0.73%
NEBIUS GROUP NVCyber Security0.32%25.52%1.49%
HUT 8 CORPBlockchain0.27%24.67%1.11%
INTEL CORPRobotics & Automation0.14%22.98%0.69%
NEXON CO. LTDDigital Entertainment0.24%20.94%1.16%
TENCENT MUSIC ENTERTAINMENT – CLASS ADigital Entertainment0.24%18.60%1.39%
RANGE INTELLIGENT COMPUTINGCyber Security0.12%18.44%0.64%
SHENZHEN INOVANCE TECHNOLOGY CO LTDRobotics & Automation0.13%18.36%0.70%
XPENG INC – CLASS A SHARESFuture Cars0.12%17.18%0.74%
KUNLUN TECH CO LTD-ASocial Media0.13%16.99%0.75%
APTIV PLCFuture Cars0.12%15.87%0.81%
LIFE360 INC-CDISocial Media0.23%15.79%1.39%
WEIBO CORP-CLASS ASocial Media0.11%14.46%0.77%
NEXTDC LTDCyber Security0.13%13.71%0.83%
ALIBABA GROUP HOLDING-SP ADRCloud Computing0.08%11.91%0.67%
IPSEN SAGenomics0.11%11.86%0.81%
SUMITOMO ELECTRIC INDUSTRIES LTDFuture Cars0.16%11.84%1.13%
APPLE INCCloud Computing0.07%11.84%0.67%
TEXAS INSTRUMENTS INCFuture Cars0.08%11.83%0.72%
ALPHABET INC-CL ASocial Media0.09%10.95%0.86%
BITDEER TECHNOLOGIES GROUPBlockchain0.08%10.86%0.78%
GENMAB A/SGenomics0.09%10.47%0.75%
CYBERARK SOFTWARECyber Security0.08%10.16%0.85%
NXP SEMICONDUCTOR NVFuture Cars0.07%9.86%0.75%
PALO ALTO NETWORKS INCCyber Security0.07%9.75%0.68%
QUALCOMM INCRobotics & Automation0.07%9.52%0.71%

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

Equal Weight ETF Performance
As of 31.07.2026

ITEK (Fund)SOLITEK (Index)
1M-7.67%-7.66%
3M0.25%0.37%
6M3.46%3.71%
YTD6.67%7.10%
12M13.00%13.82%
3Y46.59%49.02%
Since Inception (05/10/2018)136.74%144.69%

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

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] HANetf; Bloomberg. Data as of 31.08.2025.

[2] https://www.reuters.com/business/fed-still-track-september-rate-cut-after-trumps-move-cook-2025-08-26/#:~:text=Financial%20markets%20still%20broadly%20expect,86%25%20probability%20on%20that%20outcome.

[3] https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/the-economic-potential-of-generative-ai-the-next-productivity-frontier

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