- Issuer
- Themes
- Inception Date
- Dec 7, 2023
- Region
- Developed Markets (Broad)
- Category
- Technology Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Solactive Cyber Security Index - Benchmark TR Net
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $5M
Share Price Chart
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Performance
SPAM Performance Chart
Themes Cybersecurity ETF (SPAM) is up 38.1% since the beginning of the year. SPAM is currently trading at $42 per share.
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Returns By Period
Themes Cybersecurity ETF (SPAM) has returned 38.10% so far this year and 35.29% over the past 12 months.
Themes Cybersecurity ETF
- 1D
- -2.74%
- 1M
- 10.55%
- 6M
- 33.70%
- YTD
- 38.10%
- 1Y
- 35.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.42%
- 1M
- 1.94%
- 6M
- 8.74%
- YTD
- 10.66%
- 1Y
- 21.02%
- 3Y*
- 19.50%
- 5Y*
- 11.63%
- 10Y*
- 13.41%
SPAM Monthly Returns History
Based on dividend-adjusted daily data since Dec 8, 2023, SPAM's average daily return is +0.10%, while the average monthly return is +1.88%. At this rate, an investment would double in approximately 3.1 years.
Historically, 59% of months were positive and 41% were negative. The best month was May 2026 with a return of +28.3%, while the worst month was Nov 2025 at -7.6%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 5 months.
On a daily basis, SPAM closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +9.5%, while the worst single day was Apr 4, 2025 at -6.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.72% | -5.85% | 0.69% | 8.42% | 28.27% | 4.96% | 0.53% | 38.10% | |||||
| 2025 | 5.15% | -2.04% | -6.02% | 3.52% | 4.96% | 8.33% | -4.65% | 2.95% | 6.71% | -0.03% | -7.57% | -4.92% | 4.86% |
| 2024 | 2.15% | 4.98% | -2.26% | -4.88% | -2.16% | 5.27% | 0.10% | 4.72% | 1.50% | -0.72% | 5.57% | -3.43% | 10.58% |
| 2023 | 6.74% | 6.74% |
Benchmark Metrics
Themes Cybersecurity ETF has an annualized alpha of 1.43%, beta of 1.09, and R2 of 0.45 versus S&P 500 Index. Calculated based on daily prices since December 08, 2023.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (99.75%) than losses (86.33%) - typical of diversified or defensive assets.
- R2 of 0.45 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 1.43%
- Beta
- 1.09
- R²
- 0.45
- Upside Capture
- 99.75%
- Downside Capture
- 86.33%
Expense Ratio
SPAM has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SPAM ranks 36 for risk / return — below 36% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Themes Cybersecurity ETF (SPAM) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPAM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.30 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.28 | -0.92 |
| Martin ratioReturn relative to average drawdown | 2.98 | 9.88 | -6.90 |
Dividends
Dividend History
Themes Cybersecurity ETF provided a 0.35% dividend yield over the last twelve months, with an annual payout of $0.15 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $0.15 | $0.15 | $0.04 |
Dividend yield | 0.35% | 0.49% | 0.13% |
Monthly Dividends
The table displays the monthly dividend distributions for Themes Cybersecurity ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 | $0.15 |
| 2024 | $0.04 | $0.04 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Themes Cybersecurity ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Themes Cybersecurity ETF was 24.02%, occurring on Feb 23, 2026. Recovery took 59 trading sessions.
The current Themes Cybersecurity ETF drawdown is 2.74%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -24.02%Feb 2026 | 4mo 16d | 2mo 24d | 7mo 10dOct 2025 - May 2026 |
2025 selloff2025 | -22.21%Apr 2025 | 1mo 18d | 2mo 19d | 4mo 7dFeb 2025 - Jun 2025 |
2024 correction2024 | -13.19%Aug 2024 | 5mo 25d | 2mo 5d | 8moFeb 2024 - Oct 2024 |
2026 correction2026 | -12.04%Jun 2026 | 8d | 26d | 1mo 4dJun 2026 - Jul 2026 |
2025 pullback2025 | -7.63%Aug 2025 | 1mo 11d | 29d | 2mo 10dJul 2025 - Sep 2025 |
Drawdown Indicators
| SPAM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.02% | -56.78% | +32.76% |
Max Drawdown (1Y)Largest decline over 1 year | -24.02% | -9.10% | -14.92% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.74% | -0.45% | -2.29% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -10.71% | +4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.89% | 2.09% | +8.80% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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