I assumed this was because the NASDAQ 100 includes non-tech companies (eg: American Airlines, healthcare and biotech companies, etc) and these tend to trade at a lower PE than many tech companies. Of course HACK is 100% tech companies.
It has seemed to correlate closely with NDQ as Pete pointed out, and it's also true that the constituent companies in HACK are often concerned with more than just cybersecurity. But I do still see it as a valuable concentration of tech companies in this space that avoids the crowded FANG trade, etc, and avoids other non-tech NDQ companies.
It's a bit of a shame that the management fees are slightly higher than those of NDQ, too.
HML Price at posting:
$1.99 Sentiment: None Disclosure: Held
