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 | +1.7% | -3.7% | -8.4% | +3.5% | -5.1% | +56.7% | +57.7% |
| vs S&P 500 | +1.1% | -4.2% | -9.1% | -1.1% | -6.5% | +37.8% | +36.1% |
1y · 2025-10-21 – 2026-10-21 · 252 / 252 sessions
Basket total returns · Annualized using 252 trading sessions · 0% risk-free rate and downside target. As of 2026-10-21 · 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 | |||||
|---|---|---|---|---|---|---|
| CSCOCisco | Splunk + security networking attach | +0.5% | -5.6% | +1.2% | +41.8% | 2026-06-11 |
| FTNTFortinet | Firewall + SASE installed base | +1.8% | -5.4% | -2.6% | +119.2% | 2026-06-11 |
| GENGen Digital | Consumer security annuity | +0.2% | +1.4% | -8.0% | -10.0% | 2026-06-11 |
| CRWDCrowdStrike | Endpoint/XDR share gainer | +5.3% | -4.0% | -8.8% | +104.2% | 2026-06-11 |
| PANWPalo Alto Networks | Platform consolidation leader | +2.0% | -7.4% | -11.7% | +88.5% | 2026-06-11 |
| AKAMAkamai Technologies | Edge security pivot | +0.7% | -1.6% | -23.8% | +3.5% | 2026-06-11 |
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 S&P 500” compares the basket’s compounded growth with the benchmark’s. Green means positive; red means negative.
Cross-checked against CIBR. Daily return correlation: 0.92 across 1710 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.