{"url":"https://etfiq.com/benchmarks/thematic-40/","section":"benchmarks","title":"ETFIQ Thematic, 40% stocks benchmark | ETFIQ","description":"ETFIQ Thematic, 40% stocks holds 40% in 39 funds and 60% BND and AGG. Its returns by window and by year, risk and cost, as of Oct 7, 2026.","as_of":"Oct 7, 2026","structured_data":[{"@type":"ItemList","name":"What ETFIQ Thematic, 40% stocks holds","numberOfItems":41,"itemListElement":[{"@type":"ListItem","position":1,"name":"AGG","url":"https://etfiq.com/funds/agg"},{"@type":"ListItem","position":2,"name":"BND","url":"https://etfiq.com/funds/bnd"},{"@type":"ListItem","position":3,"name":"AIQ","url":"https://etfiq.com/funds/aiq"},{"@type":"ListItem","position":4,"name":"AIRR","url":"https://etfiq.com/funds/airr"},{"@type":"ListItem","position":5,"name":"ARKF","url":"https://etfiq.com/funds/arkf"},{"@type":"ListItem","position":6,"name":"ARKG","url":"https://etfiq.com/funds/arkg"},{"@type":"ListItem","position":7,"name":"ARKK","url":"https://etfiq.com/funds/arkk"},{"@type":"ListItem","position":8,"name":"ARKX","url":"https://etfiq.com/funds/arkx"},{"@type":"ListItem","position":9,"name":"BLOK","url":"https://etfiq.com/funds/blok"},{"@type":"ListItem","position":10,"name":"BOTZ","url":"https://etfiq.com/funds/botz"},{"@type":"ListItem","position":11,"name":"CIBR","url":"https://etfiq.com/funds/cibr"},{"@type":"ListItem","position":12,"name":"COPX","url":"https://etfiq.com/funds/copx"},{"@type":"ListItem","position":13,"name":"DRIV","url":"https://etfiq.com/funds/driv"},{"@type":"ListItem","position":14,"name":"DTCR","url":"https://etfiq.com/funds/dtcr"},{"@type":"ListItem","position":15,"name":"ESPO","url":"https://etfiq.com/funds/espo"},{"@type":"ListItem","position":16,"name":"FDN","url":"https://etfiq.com/funds/fdn"},{"@type":"ListItem","position":17,"name":"GDX","url":"https://etfiq.com/funds/gdx"},{"@type":"ListItem","position":18,"name":"GRID","url":"https://etfiq.com/funds/grid"},{"@type":"ListItem","position":19,"name":"IBB","url":"https://etfiq.com/funds/ibb"},{"@type":"ListItem","position":20,"name":"ICLN","url":"https://etfiq.com/funds/icln"},{"@type":"ListItem","position":21,"name":"IETC","url":"https://etfiq.com/funds/ietc"},{"@type":"ListItem","position":22,"name":"IGV","url":"https://etfiq.com/funds/igv"},{"@type":"ListItem","position":23,"name":"IHI","url":"https://etfiq.com/funds/ihi"},{"@type":"ListItem","position":24,"name":"ITA","url":"https://etfiq.com/funds/ita"},{"@type":"ListItem","position":25,"name":"JETS","url":"https://etfiq.com/funds/jets"},{"@type":"ListItem","position":26,"name":"LEGR","url":"https://etfiq.com/funds/legr"},{"@type":"ListItem","position":27,"name":"LIT","url":"https://etfiq.com/funds/lit"},{"@type":"ListItem","position":28,"name":"METV","url":"https://etfiq.com/funds/metv"},{"@type":"ListItem","position":29,"name":"MOO","url":"https://etfiq.com/funds/moo"},{"@type":"ListItem","position":30,"name":"MSOS","url":"https://etfiq.com/funds/msos"},{"@type":"ListItem","position":31,"name":"PAVE","url":"https://etfiq.com/funds/pave"},{"@type":"ListItem","position":32,"name":"PEJ","url":"https://etfiq.com/funds/pej"},{"@type":"ListItem","position":33,"name":"PHO","url":"https://etfiq.com/funds/pho"},{"@type":"ListItem","position":34,"name":"QTUM","url":"https://etfiq.com/funds/qtum"},{"@type":"ListItem","position":35,"name":"REMX","url":"https://etfiq.com/funds/remx"},{"@type":"ListItem","position":36,"name":"SIL","url":"https://etfiq.com/funds/sil"},{"@type":"ListItem","position":37,"name":"SMH","url":"https://etfiq.com/funds/smh"},{"@type":"ListItem","position":38,"name":"URA","url":"https://etfiq.com/funds/ura"},{"@type":"ListItem","position":39,"name":"USNZ","url":"https://etfiq.com/funds/usnz"},{"@type":"ListItem","position":40,"name":"WOOD","url":"https://etfiq.com/funds/wood"},{"@type":"ListItem","position":41,"name":"XME","url":"https://etfiq.com/funds/xme"}]},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What is ETFIQ Thematic, 40% stocks?","acceptedAnswer":{"@type":"Answer","text":"A rules-based benchmark: 40% Themes (39 funds in equal parts) and 60% US bonds (BND and AGG in equal parts), reset on the last trading day of each quarter; its set is chosen again on the last trading day of each December and trades at the close of the next, 16 sets since Jan 3, 2011. ETFIQ publishes it to measure thematic, megatrend and innovation models with about 40% in stocks. It is not a fund and cannot be bought."}},{"@type":"Question","name":"Is ETFIQ Thematic, 40% stocks a recommendation?","acceptedAnswer":{"@type":"Answer","text":"No. It is a yardstick, the same for everyone, and every weight follows from a written rule and public facts. ETFIQ publishes no trades for it and takes no payment from the issuer of any fund it holds."}},{"@type":"Question","name":"Why are some of its returns hypothetical?","acceptedAnswer":{"@type":"Answer","text":"ETFIQ froze the rule on Oct 3, 2026. Returns before Oct 5, 2026 apply today\u2019s rule and funds to earlier prices, which is look-ahead; returns from that date are tracked. The price source does not carry funds that closed before 2016, so nothing here is free of survivorship bias."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Benchmarks","item":"https://etfiq.com/benchmarks/"},{"@type":"ListItem","position":3,"name":"Thematic","item":"https://etfiq.com/benchmarks/thematic/"},{"@type":"ListItem","position":4,"name":"Thematic, 40% stocks","item":"https://etfiq.com/benchmarks/thematic-40/"}]},{"@type":"WebPage","name":"ETFIQ Thematic, 40% stocks benchmark","description":"ETFIQ Thematic, 40% stocks holds 40% in 39 funds and 60% BND and AGG. Its returns by window and by year, risk and cost, as of Oct 7, 2026.","url":"https://etfiq.com/benchmarks/thematic-40/","dateModified":"2026-10-08","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":14637,"truncated":false,"content":"ETFIQ / Benchmarks / Thematic / Thematic, 40% stocks \n \n Rebuilt every trading night. Figures as of Oct 7, 2026; trailing windows end at the last month end, Sep 30, 2026.\n ETFIQ Thematic, 40% stocks benchmark\n A benchmark for thematic, megatrend and innovation models in the moderately conservative band: 40% Themes (39 funds in equal parts) and 60% US bonds (BND and AGG in equal parts), reset on the last trading day of each quarter; its set is chosen again on the last trading day of each December and trades at the close of the next, 16 sets since Jan 3, 2011. A yardstick, not a recommendation.\n +5.06% Total return, 1 year \n +7.17% Total return a year, 10 years \n\n Over 10 years to Sep 30, 2026, ETFIQ Thematic, 40% stocks, had a total return of +7.17% a year, hypothetical.\n Launched on Oct 3, 2026, when ETFIQ froze its rule. Figures before Oct 5, 2026 are hypothetical: today\u2019s rule and funds applied to earlier prices, which is look-ahead. From Oct 5, 2026 the record is tracked, and a window that starts before it is hypothetical as a whole.\n Total return by calendar year\n 2012: +7.63% total return, hypothetical \n 2013: +8.15% total return, hypothetical \n 2014: +2.16% total return, hypothetical \n 2015: \u22124.65% total return, hypothetical \n 2016: +11.08% total return, hypothetical \n 2017: +13.91% total return, hypothetical \n 2018: \u22124.79% total return, hypothetical \n 2019: +15.98% total return, hypothetical \n 2020: +25.03% total return, hypothetical \n 2021: +4.99% total return, hypothetical \n 2022: \u221217.41% total return, hypothetical \n 2023: +14.03% total return, hypothetical \n 2024: +5.31% total return, hypothetical \n 2025: +20.04% total return, hypothetical \n 2026 to Oct 7, 2026: +3.62% total return, hypothetical \n Other thematic benchmarks\n Thematic, 20% stocks Thematic, 40% stocks Thematic, 60% stocks Thematic, 80% stocks Thematic, 95% stocks Thematic, 100% stocks The rule\n The rule: 40% Themes (39 funds in equal parts) and 60% US bonds (BND and AGG in equal parts), reset on the last trading day of each quarter; its set is chosen again on the last trading day of each December and trades at the close of the next, 16 sets since Jan 3, 2011. The thematic family\u2019s rule, as the method states it: \u201cx% stock sleeve, (100 - x)% the US bonds sleeve.\u201d Methodology version 1.3; launched on Oct 3, 2026, when ETFIQ froze the family\u2019s rule. Every weight follows from the rule and public facts; the funds are chosen by the rules in the method .\n What it holds\n The weights the rule sets at each rebalance, in force since Jan 2, 2026. Each fund\u2019s expense ratio is from its prospectus, as of Oct 24, 2025, Oct 28, 2025, Nov 21, 2025, Nov 26, 2025, Dec 18, 2025, Jan 27, 2026, Jan 28, 2026, Feb 26, 2026, Mar 27, 2026, Apr 24, 2026, Apr 28, 2026, Apr 29, 2026, Apr 30, 2026, Jun 18, 2026, Jul 27, 2026, Aug 21, 2026 and Aug 27, 2026.\n 41 funds held by ETFIQ Thematic, 40% stocks, largest weight first, as of Oct 7, 2026. Source: ETFIQ. Ticker Fund Sleeve Weight Expense ratio \n AGG iShares Core U.S. Aggregate Bond ETF US bonds 30% 0.03% \n BND Vanguard Total Bond Market ETF US bonds 30% 0.03% \n AIQ Global X Artificial Intelligence & Technology ETF Artificial intelligence 1.03% 0.68% \n AIRR First Trust RBA American Industrial Renaissance ETF Reshoring and manufacturing 1.03% 0.69% \n ARKF ARK Blockchain & Fintech Innovation ETF Fintech and digital payments 1.03% 0.75% \n ARKG ARK Genomic Revolution ETF Genomics and gene editing 1.03% 0.75% \n ARKK ARK Innovation ETF Broad innovation and megatrends 1.03% 0.75% \n ARKX ARK Space & Defense Innovation ETF Space 1.03% 0.75% \n BLOK Amplify Blockchain Technology ETF Blockchain and crypto equities 1.03% 0.70% \n BOTZ Global X Robotics & Artificial Intelligence ETF Robotics and automation 1.03% 0.68% \n CIBR First Trust NASDAQ Cybersecurity ETF Cybersecurity 1.03% 0.58% \n COPX Global X Copper Miners ETF Copper 1.03% 0.65% \n DRIV Global X Autonomous & Electric Vehicles ETF Electric vehicles and batteries 1.03% 0.68% \n DTCR Global X Data Center & Digital Infrastructure ETF Digital infrastructure and data centers 1.03% 0.50% \n ESPO VanEck Video Gaming and eSports ETF Gaming, esports and betting 1.03% 0.55% \n FDN First Trust Dow Jones Internet Index Fund Internet and e-commerce 1.03% 0.49% \n GDX VanEck Gold Miners ETF Gold miners 1.03% 0.51% \n GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Electrification and the grid 1.03% 0.56% \n IBB iShares Biotechnology ETF Biotech 1.03% 0.44% \n ICLN iShares Global Clean Energy ETF Clean energy 1.03% 0.38% \n IETC iShares U.S. Tech Independence Focused ETF Energy security and critical technology 1.03% 0.18% \n IGV iShares Expanded Tech-Software Sector ETF Cloud and software 1.03% 0.38% \n IHI iShares U.S. Medical Devices ETF Therapeutics and medical devices 1.03% 0.37% \n ITA iShares U.S. Aerospace & Defense ETF Defense 1.03% 0.37% \n JETS U.S. Global Jets ETF Shipping, aviation and logistics 1.03% 0.60% \n LEGR First Trust Indxx Innovative Transaction & Process ETF Stablecoins and tokenisation 1.03% 0.65% \n LIT Global X Lithium & Battery Tech ETF Lithium and battery metals 1.03% 0.75% \n METV Roundhill Ball Metaverse ETF Metaverse and immersive tech 1.03% 0.59% \n MOO VanEck Agribusiness ETF Agriculture 1.03% 0.56% \n MSOS AdvisorShares Pure US Cannabis ETF Cannabis 1.03% 0.78% \n PAVE Global X U.S. Infrastructure Development ETF Infrastructure 1.03% 0.47% \n PEJ Invesco Leisure and Entertainment ETF Travel and leisure 1.03% 0.58% \n PHO Invesco Water Resources ETF Water 1.03% 0.59% \n QTUM Defiance Quantum ETF Quantum computing 1.03% 0.40% \n REMX VanEck Rare Earth and Strategic Metals ETF Rare earth and critical materials 1.03% 0.53% \n SIL Global X Silver Miners ETF Silver miners 1.03% 0.65% \n SMH VanEck Semiconductor ETF Semiconductors 1.03% 0.35% \n URA Global X Uranium ETF Nuclear and uranium 1.03% 0.69% \n USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF Energy transition and decarbonisation 1.03% 0.10% \n WOOD iShares Global Timber & Forestry ETF Timber and forestry 1.03% 0.39% \n XME State Street SPDR S&P Metals & Mining ETF Miners and metals 1.03% 0.35% \n\n Weighted expense ratio 0.24%, each weight times its fund\u2019s expense ratio. It is already inside the returns below.\n The themes held, re-chosen each December\n A theme joins at the first December after its fund has 3 calendar years of prices; each set trades at the close of the next trading day.\n 16 theme sets of ETFIQ Thematic, 40% stocks, newest first, from the selection record. Chosen on Held from Themes Themes that joined \n Dec 31, 2025 Jan 2, 2026 39 Energy transition and decarbonisation \n Dec 31, 2024 Jan 2, 2025 38 Metaverse and immersive tech; Space \n Dec 29, 2023 Jan 2, 2024 36 Cannabis; Digital infrastructure and data centers \n Dec 30, 2022 Jan 3, 2023 34 Fintech and digital payments \n Dec 31, 2021 Jan 3, 2022 33 Artificial intelligence; Blockchain and crypto equities; Energy security and critical technology; Electric vehicles and batteries; Gaming, esports and betting; Quantum computing; Stablecoins and tokenisation \n Dec 31, 2020 Jan 4, 2021 26 Infrastructure \n Dec 31, 2019 Jan 2, 2020 25 Robotics and automation \n Dec 31, 2018 Jan 2, 2019 24 Cybersecurity; Shipping, aviation and logistics \n Dec 29, 2017 Jan 2, 2018 22 Genomics and gene editing; Broad innovation and megatrends; Reshoring and manufacturing \n Dec 30, 2016 Jan 3, 2017 19 none \n Dec 31, 2015 Jan 4, 2016 19 none \n Dec 31, 2014 Jan 2, 2015 19 Semiconductors \n Dec 31, 2013 Jan 2, 2014 18 Copper; Lithium and battery metals; Nuclear and uranium; Rare earth and critical materials; Silver miners \n Dec 31, 2012 Jan 2, 2013 13 Electrification and the grid \n Dec 30, 2011 Jan 3, 2012 12 Clean energy; Timber and forestry \n Dec 31, 2010 Jan 3, 2011 10 Agriculture; Biotech; Cloud and software; Defense; Gold miners; Internet and e-commerce; Miners and metals; Therapeutics and medical devices; Travel and leisure; Water \n\n Total return by window\n Trailing windows end at the last month end; the window since the start runs to the last close. A year is the annualised rate over whole months. Data sourced by Tiingo .\n Total return of ETFIQ Thematic, 40% stocks over each window, as of Oct 7, 2026. Data sourced by Tiingo. Window From To Total return A year Basis Note \n 1 year Sep 30, 2025 Sep 30, 2026 +5.06% +5.06% Hypothetical \n 3 years Sep 29, 2023 Sep 30, 2026 +43.59% +12.82% Hypothetical \n 5 years Sep 30, 2021 Sep 30, 2026 +24.79% +4.53% Hypothetical \n 10 years Sep 30, 2016 Sep 30, 2026 +99.91% +7.17% Hypothetical \n Since Jan 3, 2011 Jan 3, 2011 Oct 7, 2026 +163.05% +6.38% Hypothetical A year over whole months, Jan 31, 2011 to Sep 30, 2026 \n\n Total return by calendar year\n Each year from the last close of one December to the next; the current year runs to the last close. Data sourced by Tiingo .\n Calendar-year total return of ETFIQ Thematic, 40% stocks, as of Oct 7, 2026. Data sourced by Tiingo. Year Total return Basis Why not published \n 2026 to Oct 7, 2026 +3.62% Hypothetical \n 2025 +20.04% Hypothetical \n 2024 +5.31% Hypothetical \n 2023 +14.03% Hypothetical \n 2022 \u221217.41% Hypothetical \n 2021 +4.99% Hypothetical \n 2020 +25.03% Hypothetical \n 2019 +15.98% Hypothetical \n 2018 \u22124.79% Hypothetical \n 2017 +13.91% Hypothetical \n 2016 +11.08% Hypothetical \n 2015 \u22124.65% Hypothetical \n 2014 +2.16% Hypothetical \n 2013 +8.15% Hypothetical \n 2012 +7.63% Hypothetical \n 2011 not published not published the history starts 2011-01-03, after the last close of December 2010 \n\n Risk, cost and turnover\n Volatility and the Sharpe ratio need 36 monthly returns; a figure with fewer is not published and says why. Data sourced by Tiingo .\n Risk and cost figures for ETFIQ Thematic, 40% stocks, as of Oct 7, 2026. Data sourced by Tiingo. Figure Value Dates Basis Note \n Volatility, since the start 8.86% Jan 31, 2011 to Sep 30, 2026 Hypothetical \n Volatility, 10 years 9.93% Sep 30, 2016 to Sep 30, 2026 Hypothetical \n Volatility, 5 years 11.41% Sep 30, 2021 to Sep 30, 2026 Hypothetical \n Volatility, 3 years 9.70% Sep 29, 2023 to Sep 30, 2026 Hypothetical \n Maximum drawdown, since the start \u221224.13% Jan 3, 2011 to Oct 7, 2026 Hypothetical from a peak on Nov 8, 2021 to a low on Oct 14, 2022; back at the peak on Dec 6, 2024 \n Maximum drawdown, 1 year \u22126.32% Sep 30, 2025 to Sep 30, 2026 Hypothetical from a peak on Jan 28, 2026 to a low on Mar 30, 2026; back at the peak on Apr 17, 2026 \n Sharpe ratio, since the start 0.56 Jan 31, 2011 to Sep 30, 2026 Hypothetical return over the Treasury 13-week bill rate, per unit of volatility, monthly \n Sharpe ratio, 10 years 0.50 Sep 30, 2016 to Sep 30, 2026 Hypothetical return over the Treasury 13-week bill rate, per unit of volatility, monthly \n Sharpe ratio, 5 years 0.11 Sep 30, 2021 to Sep 30, 2026 Hypothetical return over the Treasury 13-week bill rate, per unit of volatility, monthly \n Turnover, since the start 13.47% a year Jan 31, 2011 to Sep 30, 2026 Hypothetical the share of the benchmark its rebalances traded, a year \n Factor loadings, since the start Mkt-RF 0.48; SMB 0.08; HML \u22120.15; RMW \u22120.09; CMA 0.09; Mom \u22120.09 Jan 31, 2011 to Aug 31, 2026 Hypothetical monthly excess return on the six factors, by least squares; each factor on its own row below \n Factor loading, market (Mkt-RF), since the start 0.48 Jan 31, 2011 to Aug 31, 2026 Hypothetical t statistic 19.61 \n Factor loading, size (SMB), since the start 0.08 Jan 31, 2011 to Aug 31, 2026 Hypothetical t statistic 1.87 \n Factor loading, value (HML), since the start \u22120.15 Jan 31, 2011 to Aug 31, 2026 Hypothetical t statistic \u22123.58 \n Factor loading, profitability (RMW), since the start \u22120.09 Jan 31, 2011 to Aug 31, 2026 Hypothetical t statistic \u22121.94 \n Factor loading, investment (CMA), since the start 0.09 Jan 31, 2011 to Aug 31, 2026 Hypothetical t statistic 1.53 \n Factor loading, momentum (Mom), since the start \u22120.09 Jan 31, 2011 to Aug 31, 2026 Hypothetical t statistic \u22123.26 \n Level, from 100 at the start 263.05 Jan 3, 2011 to Oct 7, 2026 Hypothetical the benchmark\u2019s value on Oct 7, 2026, from a base of 100 on Jan 3, 2011 \n Weighted expense ratio 0.24% Oct 7, 2026 Tracked each weight times its fund\u2019s expense ratio; already inside the returns \n\n Questions people ask\n What is ETFIQ Thematic, 40% stocks? A rules-based benchmark: 40% Themes (39 funds in equal parts) and 60% US bonds (BND and AGG in equal parts), reset on the last trading day of each quarter; its set is chosen again on the last trading day of each December and trades at the close of the next, 16 sets since Jan 3, 2011. ETFIQ publishes it to measure thematic, megatrend and innovation models with about 40% in stocks. It is not a fund and cannot be bought. Is ETFIQ Thematic, 40% stocks a recommendation? No. It is a yardstick, the same for everyone, and every weight follows from a written rule and public facts. ETFIQ publishes no trades for it and takes no payment from the issuer of any fund it holds. Why are some of its returns hypothetical? ETFIQ froze the rule on Oct 3, 2026. Returns before Oct 5, 2026 apply today\u2019s rule and funds to earlier prices, which is look-ahead; returns from that date are tracked. The price source does not carry funds that closed before 2016, so nothing here is free of survivorship bias. Total returns are market price with distributions reinvested, net of each fund\u2019s own fees, with nothing else deducted. The price source does not carry funds that closed before 2016, so nothing here is free of survivorship bias. Data sourced by Tiingo .\n Where these figures came from\n Data sourced by Tiingo U.S. Treasury daily bill rates, for the Sharpe ratio Each fund\u2019s page, with its prospectus and fee Where to next\n Every thematic benchmark How the benchmarks are built Every benchmark Core funds Look a portfolio through Every method Every model, side by side ETFIQ is an independent publisher of exchange-traded fund data. It is not a fund issuer, broker-dealer or investment adviser, takes no payment from issuers, and makes no recommendations.\n \n Cite this page. ETFIQ, ETFIQ Thematic, 40% stocks benchmark, data as of Oct 7, 2026. https://etfiq.com/benchmarks/thematic-40/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, ETFIQ Thematic, 40% stocks benchmark, data as of Oct 7, 2026. https://etfiq.com/benchmarks/thematic-40/ APA ETFIQ. (Oct 7, 2026). ETFIQ Thematic, 40% stocks benchmark. Retrieved from https://etfiq.com/benchmarks/thematic-40/ Markdown [ETFIQ Thematic, 40% stocks benchmark (ETFIQ, Oct 7, 2026)](https://etfiq.com/benchmarks/thematic-40/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, ETFIQ Thematic, 40% stocks benchmark, data as of Oct 7, 2026. https://etfiq.com/benchmarks/thematic-40/"}