Evolve Cyber Security Index Fund (TSX:CYBR) units have climbed 44% since Capital Ideas wrote about the ETF 17 months ago
Capital Ideas Media | December 24, 2021 | SmallCapPower: COVID-19 lockdowns have forced more people to work from home, as well as buy the goods and services they want and need online. This increase in eCommerce activity also creates more opportunities for cyber criminals.
Thus, businesses will be force to allocate more funds to cyber security – an ounce of prevention is worth a pound of cure, so they say.
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Forrester Research estimates that enterprises will spend US$12.6 billion on cloud security tools by 2023, up from $5.6 billion in 2018.
We recently discovered a Canada-listed, cyber-security ETF investment, Evolve Cyber Security Index Fund (TSX:CYBR), which has been hitting new 52-week highs recently.
Evolve Cyber Security ETF invests primarily in shares of companies, located throughout the world, that are involved in the cyber security industry through hardware and software development. A little more than 72% of CYBR’s holdings are U.S.-based companies.
Evolve Cyber Security’s Top 5 components, comprising about 39% of the portfolio, are: Okta, Inc. (NASDAQ:OKTA) [9% of the fund], Zscaler Inc. (NASDAQ:ZS) [8.4%], Fortinet Inc. (NASDAQ:FTNT) [7.7%], Palo Alto Networks (NYSE:PANW) [7.4%], and CrowdStrike Inc. (NASDAQ:CRWD) [6.7%].
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