SPAM vs. CYBR

Last updated Jun 23, 2026

SPAM (Themes Cybersecurity ETF) is Technology Equities fund tracking the Solactive Cyber Security Index - Benchmark TR Net, while CYBR (CyberArk Software Ltd.) is a stock. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

SPAM vs. CYBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cybersecurity ETF (SPAM) and CyberArk Software Ltd. (CYBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPAM

• 1D: -0.99%
• 1M: -1.58%
• YTD: 23.17%
• 6M: 18.54%
• 1Y: 19.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CYBR

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPAM vs. CYBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPAM Themes Cybersecurity ETF	23.17%	4.86%	10.58%	6.74%
CYBR CyberArk Software Ltd.	-8.34%	33.89%	52.09%	8.44%

Correlation

The correlation between SPAM and CYBR is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Dec 8, 2023	0.58

The correlation between SPAM and CYBR shifts across timeframes, from 0.44 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPAM vs. CYBR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPAM

SPAM Risk / Return Rank: 19
SPAM Sharpe Ratio Rank: 21
SPAM Sortino Ratio Rank: 20
SPAM Omega Ratio Rank: 20
SPAM Calmar Ratio Rank: 18
SPAM Martin Ratio Rank: 17

CYBR

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPAM vs. CYBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cybersecurity ETF (SPAM) and CyberArk Software Ltd. (CYBR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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	CYBR	Difference
Sharpe ratio: Return per unit of total volatility	0.70	—	—
Sortino ratio: Return per unit of downside risk	1.11	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	0.80	—	—
Martin ratio: Return relative to average drawdown	1.76	—	—

Drawdowns

Drawdown Indicators

	SPAM	CYBR	Difference
Max Drawdown Largest peak-to-trough decline	-24.02%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-24.02%	—	—
Current Drawdown Current decline from peak	-11.52%	—	—
Average Drawdown Average peak-to-trough decline	-6.58%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	10.90%	—	—

Volatility

Volatility by Period

	SPAM	CYBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.44%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.76%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.76%	—	—

Dividends

SPAM vs. CYBR - Dividend Comparison

SPAM's dividend yield for the trailing twelve months is around 0.40%, while CYBR has not paid dividends to shareholders.

Position	TTM	2025	2024
CYBR CyberArk Software Ltd.	0.00%	0.00%	0.00%
SPAM Themes Cybersecurity ETF	0.40%	0.49%	0.13%

Frequently Asked Questions

Can I hold both SPAM and CYBR in my portfolio?

SPAM and CYBR have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.