Cybersecurity ETFs are off to a good start this week as high-profile cybersecurity meeting took place on Wednesday between President Joe Biden and CEOs from major companies including Amazon, Apple and Microsoft.
The discussion comes after a growing threat of cyberattacks that have impacted government agencies, municipalities, and health systems. The sector leaders will discuss with President Biden how the public and private sectors can work collectively to improve the nation’s cybersecurity.
Large ETFs with focus on the cybersecurity space were on investors’ radar including First Trust NASDAQ Cybersecurity ETF (CIBR), Global X Cybersecurity ETF (BUG) and iShares Cybersecurity and Tech ETF (IHAK) , which posted more than 5.0% gains this week.
CIBR, the largest one out there with $4.46bn in Assets under management invests in companies primarily involved in the building, implementation, and management of security protocols. Its top holdings as of yesterday are Zscaler inc. (7.26%), CrowdStrike Holdings (6.52%) and Accenture Plc (6.33%).
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