Do IHAK and SPAM hold the same stocks?

By their latest filings, 64% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, IHAK or SPAM?

IHAK has 17% of its weight in S&P 500 names and SPAM has 26%, so IHAK differs more from the index.

Which is cheaper, IHAK or SPAM?

IHAK charges 0.47% a year and SPAM charges 0.35%, so SPAM is cheaper. Fees come from each fund's prospectus.

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IHAK vs SPAM: which is really different?

IHAK and SPAM hold 64% of their weight in the same names, and SPAM returned +35.1% over the year. iShares Cybersecurity and Tech ETF and Themes Cybersecurity ETF.

17.1%

IHAK in the S&P 500

26.4%

SPAM in the S&P 500

+29.3%

IHAK total return, 1 year

+35.1%

SPAM total return, 1 year

IHAK · 1 year to Sep 30, 202683% of its weight is outside the S&P 500

17% of IHAK's weight is in S&P 500 companies and 83% is outside the index

SPAM · 1 year to Sep 30, 202674% of its weight is outside the S&P 500

26% of SPAM's weight is in S&P 500 companies and 74% is outside the index

ETFIQ Off-Index Score · IHAK scores higherHow much of it is not the index it is sold as an alternative to?

IHAK 64.5

SPAM 64.5

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, IHAK and SPAM hold 64% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 29, 2026.

50%

half

64% in common

Positions both hold, largest shared weight first

Holding IHAK SPAM

OKTA CLASS A 5.98% 6.36%

CROWDSTRIKE HOLDINGS CLASS A 5.42% 6.06%

PALO ALTO NETWORKS 4.94% 6.45%

FORTINET 4.21% 6.02%

SENTINELONE INC CLASS A 5.06% 3.99%

ZSCALER 5.25% 3.65%

QUALYS 5.62% 3.64%

VARONIS SYSTEMS 4.99% 3.53%

BLACKBERRY 3.20% 5.49%

TENABLE HOLDINGS 4.35% 3.13%

CHECK POINT SOFTWARE TECHNOLOGIES 3.24% 2.92%

CLEAR SECURE CLASS A 2.62% 3.59%

Only in IHAK

SCIENCE APPLICATIONS INTERNATIONAL 3.88%

TREND MICRO 3.44%

CALIX NETWORKS 2.57%

ACCTON TECHNOLOGY 2.47%

TEAMVIEWER 1.47%

NCC GROUP PLC 0.60%

ALLOT LTD 0.52%

ZETRIX AI 0.24%

Only in SPAM

Nebius Group NV 6.40%

Rubrik Inc 5.50%

F5 Inc 4.46%

NEXTDC Ltd 3.60%

Trend Micro Inc/Japan 3.43%

Fastly Inc 1.94%

Arlo Technologies Inc 1.01%

BTQ Technologies Corp 0.38%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

64% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	IHAK	SPAM	IHAK	SPAM	IHAK	SPAM
3 months	+9.2%	+10.9%	+6.7 pts	+8.4 pts	+7.1 pts	+8.8 pts
6 months	+52.7%	+61.0%	+35.8 pts	+44.0 pts	+25.9 pts	+34.1 pts
1 year	+29.3%	+35.1%	+13.6 pts	+19.4 pts	+5.5 pts	+11.3 pts
3 years	+76.3%	not published	−8.7 pts	not published	−33.7 pts	not published
Since launch IHAK Jun 2019 · SPAM Dec 2023	+173.5%	+88.0%	−20.5 pts	+16.1 pts	−149.2 pts	−3.9 pts

IHAK and SPAM over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

IHAK

iShares Cybersecurity and Tech ETF · Holds 50 stocks in cybersecurity, 17% of its weight in S&P 500 companies

SPAM

Themes Cybersecurity ETF · Holds 35 stocks in cybersecurity, 26% of its weight in S&P 500 companies

Issuer iShares Themes

Theme Cybersecurity Cybersecurity

In the S&P 500 17.1% 26.4%

Active share vs the S&P 500 99.1% 99.1%

In the Nasdaq-100 19.8% 22.2%

Holdings 50 35

Top ten, share of the fund 51.2% 54.4%

Expense ratio 0.47% 0.35%

Fee for the differing part 0.47% 0.35%

Total return, 1 year +29.3% +35.1%

vs the S&P 500 +13.6 pts +19.4 pts

vs the Nasdaq-100 +5.5 pts +11.3 pts

Below its high −1.7% −1.9%

Net assets $1.2bn $7m

IHAK and SPAM on the same fields, as of Sep 30, 2026. Source: ETFIQ.

IHAK in plain words

By weight, 17% of IHAK's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 51% of the fund across 50 positions, as published by its issuer for Sep 29, 2026. Over the year to Sep 30, 2026 the fund returned +29.3% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 13.6 pts.

SPAM in plain words

By weight, 26% of SPAM's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 54% of the fund across 35 positions, as filed for Jun 30, 2026. Over the year to Sep 30, 2026 the fund returned +35.1% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 19.4 pts.

Questions people ask

Do IHAK and SPAM hold the same stocks?: By their latest filings, 64% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, IHAK or SPAM?: IHAK has 17% of its weight in S&P 500 names and SPAM has 26%, so IHAK differs more from the index.
Which is cheaper, IHAK or SPAM?: IHAK charges 0.47% a year and SPAM charges 0.35%, so SPAM is cheaper. Fees come from each fund's prospectus.

Other comparisons

IHAK vs PSWD IHAK vs BUG IHAK vs CIBR IHAK vs HACK SPAM vs BUG SPAM vs WCBR SPAM vs CIBR SPAM vs PSWD

IHAK on its own →SPAM on its own →How every figure is computed →Standards and sources →

Where these figures came from

IHAK filings on SEC EDGAR ↗IHAK prospectus with the expense ratio (SEC) ↗iShares page for IHAK ↗SPAM filings on SEC EDGAR ↗SPAM prospectus with the expense ratio (SEC) ↗Themes page for SPAM ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, IHAK against SPAM, data as of Sep 30, 2026. https://etfiq.com/compare/themes/ihak-vs-spam

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.