Security budgets are the least discretionary line in enterprise IT, and AI raises both the threat surface and the product opportunity. Small by S&P 500 construction — most pure plays live outside the index — so treat it as a signal of the complex, not full coverage.
Follow the theme against the wider market.
Series before each basket's creation date are a backtest of the membership as of creation; live tracking starts at creation.
| Return | 1 day | 5 days | 20 days | 60 days | MTD | YTD | 1 year |
|---|---|---|---|---|---|---|---|
| Basket | -5.3% | -12.3% | -1.7% | +17.7% | -5.1% | +54.4% | +43.5% |
| vs FW 3000 | -4.2% | -10.3% | -1.2% | +14.5% | -5.0% | +38.3% | +26.1% |
1y · 2025-10-16 – 2026-10-16 · 252 / 252 sessions
Basket total returns · Annualized using 252 trading sessions · 0% risk-free rate and downside target. As of 2026-10-16 · close.
Sharpe: average daily simple return divided by its sample standard deviation, multiplied by √252. The risk-free rate is assumed to be 0%; this is not a cash-adjusted ratio.
Sortino: average daily simple return divided by downside deviation, multiplied by √252. Downside deviation is the square root of the average squared shortfall below 0%, counting all sessions, including zeros for gains.
Historical volatility: √(252 × average squared daily log return), matching the Vol page’s realized-volatility convention. This differs from the sample standard deviation used in Sharpe.
Each period requires complete history and at least 5 sessions. MTD and YTD follow the calendar; 1y is 252 sessions. Missing data or an undefined ratio displays — with a reason. Short periods can produce unstable ratios; intraday snapshots include a partial session. History before this basket’s creation is backtested. If a new basket has no stored daily return series yet, estimates from its rounded published chart levels are marked ≈.
Current members and the reasoning behind each inclusion. Returns are for individual holdings.
| Why it’s included | Added | |||||
|---|---|---|---|---|---|---|
| RBRKRubrik, Inc. | Cyber-resilience and backup security (Rubrik) | -5.2% | -10.2% | +5.3% | +47.0% | 2026-06-11 |
| ZSZscaler, Inc. | Zero-trust network security pure play | -5.9% | -11.3% | +5.1% | -7.8% | 2026-06-11 |
| TENBTenable Holdings, Inc. | Vulnerability and exposure management | -5.4% | -10.6% | +5.0% | +58.1% | 2026-06-11 |
| QLYSQualys, Inc. | Vulnerability management; debt-free model | -6.0% | -10.6% | +3.5% | +36.2% | 2026-06-11 |
| OKTAOkta, Inc. | Identity and access management | -10.2% | -19.3% | +2.7% | +116.6% | 2026-06-11 |
| VRNSVaronis Systems, Inc. | Data security posture management | +2.9% | -2.8% | +2.4% | +48.5% | 2026-06-11 |
| FTNTFortinet, Inc. | Firewall + SASE installed base | -7.0% | -13.2% | -0.4% | +113.0% | 2026-06-11 |
| CSCOCisco Systems, Inc. | Splunk + security networking attach | -2.2% | -9.3% | -1.6% | +42.0% | 2026-06-11 |
| SSentinelOne, Inc. | AI-native endpoint security (SentinelOne) | -7.7% | -17.9% | -4.1% | +43.9% | 2026-06-11 |
| CRWDCrowdStrike Holdings, Inc. | Endpoint/XDR share gainer | -7.0% | -17.3% | -4.3% | +94.0% | 2026-06-11 |
| PANWPalo Alto Networks, Inc. | Platform consolidation leader | -7.6% | -18.3% | -5.9% | +85.7% | 2026-06-11 |
| NETCloudflare, Inc. | Edge security and zero-trust network | -6.3% | -17.9% | -8.4% | +50.3% | 2026-06-11 |
| AKAMAkamai Technologies, Inc. | Edge security pivot | -4.9% | -17.9% | -16.0% | +0.6% | 2026-06-11 |
| GEN | Consumer security annuity | -2.7% | +3.9% | -16.7% | -9.9% | 2026-06-11 |
Partial price histories: RBRK from 2024-04-25, S from 2021-06-30.
Equal-weighted; monthly rebalance, buy-and-hold between rebalances; dated membership changes reset the target weights.
Tracked since 2026-06-11. Membership decisions are documented below.
Read the methodology →Basket returns include dividends. “vs FW 3000” compares the basket’s compounded growth with the benchmark’s. Green means positive; red means negative.
Cross-checked against CIBR. Daily return correlation: 0.95 across 1707 sessions. most listed pure plays trade outside the S&P 500 — the FW 3000 version holds them; the S&P version is the index-eligible subset
FW 3000 pass: added ZS, OKTA, NET, S, TENB, QLYS, RBRK, VRNS — names outside the S&P 500 but inside our broad universe; they count only in the FW 3000 version of this basket. Effective-dated to creation so the broad backtest covers the full set. The S&P 500 basket is unchanged.
Widening pass reviewed and deliberately unchanged: the S&P 500 contains no further security pure plays (Zscaler, Okta, CyberArk et al. live outside the index). Reference pinned to CIBR.
Initial composition: index-constrained six.