(MENAFN- Baystreet.ca) The cyber security market made significant strides in the 2010s. Data breaches in the public and private space illustrated the need to improve digital security on every front. In 2004, the cyber security market was worth $3.5 billion. According to Cybersecurity Ventures, this increased to $120 billion by 2017. It projects global spending on cyber security will exceed $1 trillion from 2017 to the end of 2021.
Investors who want to get in on this lucrative market should consider the Evolve Cyber Security Index Fund (TSX:CYBR). This ETF seeks to replicate the performance of the Solactive Global Cyber Security Index Canadian Dollar Hedged. Evolve Cyber Security invests primarily in equity securities of companies located domestically or internationally.
Shares of this ETF have climbed 35% in 2020 as of late afternoon trading on August 7. The ETF has finished every year in the green since its inception.
Nearly 80% of this ETF's holdings are in the United States and Israel. Check Point Software Technologies is the not Israel-based company in the fund. This Tel Aviv-based company is a multinational provider of software and combined hardware and software products for a variety of security spaces. GDS Holdings is another top-10 company in the ETF. This China-based firm is a leading developer and operator of high-performance data centres in its home country.
There are good reasons to be confident about this cyber security-focused ETF going forward.
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