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Equity Indexes
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Metathemes

MarketVector categorizes our family of thematic indexes into ten distinct metathemes, enabling investors to quickly assess which megatrends are leading or lagging and to identify the top-performing indexes and stocks driving each theme.

Energy

Companies facilitate a global transition from reliance on fossil fuels to renewable or cleaner sources of energy. This metatheme includes technology providers such as those focused on wind, solar, geothermal and hydro-based energy solutions, sustainable fuel providers such as those involved in nuclear, hydrogen and biofuels, as well as electric vehicle infrastructure and energy efficient building materials.

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Consumer Trends

Companies serving or creating a wide range of emerging consumer trends ranging from the way we shop, eat, play, and travel. Sub-themes include video gaming, e-commerce, travel, and sustainable agriculture.

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Financials 2.0

Companies transforming how businesses and consumers interact with, use, and manage money, savings and assets through mobile access and digitization. This metatheme includes subthemes such as electronic payments and digital wallets, mobile banking, wealth-tech, financial and accounting software, and digital asset capital markets.

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Healthcare innovation

Companies are pioneering the next frontier of the global healthcare sector to treat rare and genetic diseases, respond to pandemics more rapidly, provide prescriptive preventative care, and provide more equal access to health care for all. Sub-themes covered include biopharmaceuticals and bioproduction, genetic healthcare, medical implants, and healthcare digitization solutions.

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Materials

MarketVector has a long history of conducting in-depth research and analysis on the world of materials and commodity-linked equities ranging from agriculture producers to metal miners including those focused on precious, industrial, rare earths, and clean energy-linked metals.

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Nextgen Hardware & Communications

Companies create the foundation for the next generation of technological and industrial advancements through the provision of hardware and services required for new networking and computing architectures ranging from machine learning and accelerated computing to 5G/6G cellular networks, internet infrastructure and edge computing and IoT. Sub-themes covered include advanced semiconductor solutions, quantum computing technology, data center services, and network observability and orchestration platforms.

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Nextgen Software

Companies build off NextGen Hardware and Communications to create innovative and useful software solutions including sub-themes like applied artificial intelligence, big data analytics, and digital advertising.

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Regional Technology

MarketVector carves out companies involved in innovative themes like e-commerce, technology, and fintech from a single country or regional parent index. Our current offering covers markets like China, Israel, and India.

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Thematic Industrials & Infrastructure

Companies provide innovative solutions to push forward a range of industrial and infrastructure industries whether focusing on automation solutions, aerospace and defense, sustainability, or the exploration of new frontiers. Sub-themes include logistics, robotics, 3D printing, defense, and circular economy.

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Thematic REITs

Traditionally, REITs are considered a boring income-producing investment suitable for long-term buy-and-hold strategies. By breaking down the broader real estate sector into themes and factors investors can take advantage of real estate cycles that impact various segments differently. Some of the themes offered include residential, office and commercial, and quality.

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Thematic Returns

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Metatheme Returns

Metatheme QTLY YTD LTM
Consumer Trends -6.86% 7.08% 7.08%
Energy 1.29% 46.27% 46.27%
Financials 2.0 -11.73% 13.54% 13.54%
Healthcare Innovation 7.06% 5.77% 5.77%
MarketVector Investable Global Index (Benchmark) 3.19% 23.07% 23.07%
Materials 12.68% 77.19% 77.19%
Next Gen Hardware and Comm 2.86% 33.18% 33.18%
Next Gen Software -6.65% 7.00% 7.00%
Regional Tech -3.17% 17.71% 17.71%
REIT 2.0 -4.07% -4.22% -4.22%
Thematic Industrials and Infra 1.53% 37.58% 37.58%

Top 10 Indexes by Return

Index Metatheme QTLY
Space Industry Thematic Industrials and Infra 26.55%
Clean-Tech Metals Materials 24.99%
Junior Gold Miners Materials 21.57%
Bioproduction Tech and Tools Healthcare Innovation 16.89%
Global Gold Miners Materials 16.70%
Global Clean Energy Transition ESG Energy 15.96%
Global Steel Materials 15.34%
Global Natural Resources Materials 10.20%
Machine Learning and Quantum Computing Next Gen Hardware and Comm 9.68%
Robotics Thematic Industrials and Infra 9.63%

Bottom 10 Indexes by Return

Index Metatheme QTLY
Stablecoin Technology Financials 2.0 -20.59%
Online Gambling, Video Gaming, and eSports Consumer Trends -13.13%
Video Gaming & eSports Consumer Trends -12.32%
Digital Advertising Next Gen Software -12.30%
US Listed Office and Commercial REITs REIT 2.0 -12.30%
China Internet Software Regional Tech -10.77%
Metaverse and e-Games Consumer Trends -9.30%
Artificial Intelligence Next Gen Software -8.28%
E-Commerce US Leaders Consumer Trends -6.49%
Total Security Thematic Industrials and Infra -3.25%

Metatheme Heatmap

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Quarterly Updates and Performance

Energy

Q4 2025
  • The Energy metatheme gained +1.29% QoQ in Q4 2025, shifting into a consolidation phase after the prior run-up while holding its longer-term uptrend.
  • Leadership was narrow and rotational, with Solar Energy (+21.68% QoQ) and US Listed Oil Services 25 (+21.34%) leading the quarter.
  • Global Clean Energy Transition ESG (+15.96%) also contributed positively to performance.
  • Weakness in Global Nuclear Innovators (-12.60%), Hydrogen Economy (-4.19%), and North America Energy Infrastructure (-2.18%) capped the headline return.
  • On a one-year basis, the barbell trend persisted, led by Global Nuclear Innovators (+130.30%), Uranium & Nuclear Energy Infrastructure (+88.25%), and Solar Energy (+67.76%).
  • These segments remain standout long-term winners despite the quarter’s pullback in select nuclear and hydrogen-related names.
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Top 10 Stocks by Quarterly Return
Security Name QTLY
T1 ENERGY INC 206.42%
DORAL GROUP RENEWABLE ENERGY 124.29%
FLUENCE ENERGY INC 83.15%
CANADIAN SOLAR INC 82.29%
PROPETRO HOLDING CORP 81.49%
KGHM POLSKA MIEDZ SA 77.51%
SMA SOLAR TECHNOLOGY AG 58.54%
VESTAS WIND SYSTEMS A/S 44.86%
NORDEX SE 33.73%
SILEX SYSTEMS LTD 32.57%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
NUSCALE POWER CORP -60.64%
REFIRE ORD H -58.19%
LUCID GROUP INC -55.57%
GUOFUHEE ORD H -55.15%
VENTURE GLOBAL INC -51.94%
NANO NUCLEAR ENERGY ORD -37.73%
OKLO INC -35.72%
ENCORE ENERGY CORP -26.13%
NORTHLAND POWER INC -22.30%
CENTRUS ENERGY CORP -21.71%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
AXIA ENERGIA ADR PFD C 4.01
DOOSAN FUEL CELL CO LTD 2.52
CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD CLASS H 1.90
CADELER AS SPON ADR 1.87
NUSCALE POWER CORP 1.75
SILEX SYSTEMS LTD 1.54
BLOOM ENERGY CORP 1.35
ENPHASE ENERGY INC 1.27
ENCORE ENERGY CORP 1.27
CENTRUS ENERGY CORP 1.24

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
MINMETALS RESOURCES LTD 241.89% 65.91% 256.19% 21.20% 8.34% 14.51% 4
TIDEWATER INC -7.68% 15.92% 18.69% 21.48% 11.68% 16.31% 5
TECHNIPFMC PLC 53.97% 96.66% 126.82% 15.72% 8.55% 34.58% 13
DRAX GROUP PLC 38.72% 0.98% 11.50% 9.07% 17.21% 16.17% 16
ANTERO MIDSTREAM CORP 17.89% 7.78% 14.33% 55.05% 8.12% 13.56% 17
SOUTHERN COPPER CORP 63.15% 4.45% 2.53% 28.22% 2.96% 19.56% 20
ENERSYS 58.77% 66.20% 127.42% 8.77% 6.03% 10.72% 21
TOPBUILD CORP 34.00% 8.99% 11.96% 15.11% 6.76% 15.29% 22
HESS MIDSTREAM PARTNERS LP -6.83% 6.00% 12.38% 44.18% 15.97% 16.43% 25
WESTERN MIDSTREAM PARTNERS LP 2.78% 3.74% 12.80% 40.23% 9.34% 14.89% 26

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
XINYI ENERGY HOLDINGS LTD 38.96% 3.26% 64.30% 91.46% 10.33% 3
HESS MIDSTREAM PARTNERS LP -6.83% 7.86% 63.94% 75.06% 8.22% 4
VENTURE GLOBAL INC 0.00% 118.18% 52.39% 43.65% 12.43% 5
WESTERN MIDSTREAM PARTNERS LP 2.78% 3.75% 53.34% 62.24% 8.55% 6
ANTERO MIDSTREAM CORP 17.89% 6.18% 64.96% 74.18% 5.48% 12
GRUPO MEXICO SAB DE CV 98.76% 4.42% 46.78% 53.19% 6.07% 13
ARCHROCK INC 4.54% 24.32% 46.70% 53.87% 5.82% 14
DT MIDSTREAM INC 20.37% 19.78% 52.26% 70.89% 3.30% 15
CHINA DATANG CORP RENEWABL-H -1.16% 0.13% 41.55% 78.75% 13.90% 16
MPLX LP 11.51% 4.32% 44.66% 51.05% 8.83% 17

Top Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
HD HYUNDAI 143.23% 0.00% 1.35 0.00 55.10% 70.19% 5.51% 0.37
IDEMITSU KOSAN CO LTD ORD 14.88% 4.56% 0.79 0.27 14.34% 9.08% 3.04% 0.61
MITSUBISHI CHEMICAL GROUP 15.06% 2.70% 0.65 0.33 12.28% 4.57% 9.45% 0.62
COSMO ENERGY HOLDINGS COMPANY LTD 21.17% 6.70% 1.10 0.27 21.75% 16.08% 6.10% 0.63
PLAINS GP HOLDINGS LP-CL A 4.13% 7.56% 2.82 0.33 58.40% 22.18% 4.15% 0.68
ACCIONA SA 93.97% 0.60% 2.23 0.37 2.03% 1.40% 7.61% 0.70
ENEOS HOLDINGS INC 34.71% 5.38% 0.90 0.30 16.56% 9.18% 7.63% 0.70
THAI OIL PCL 37.91% 7.02% 0.48 0.35 33.47% 9.13% 17.50% 0.82
PAR PACIFIC HOLDINGS INC 114.40% 2.24% 1.26 0.41 5.18% 3.38% 13.23% 0.89
MOL HUNGARIAN OIL AND GAS PLC 30.14% 5.76% 0.46 0.12 19.41% 9.67% 11.01% 0.91

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
MOL HUNGARIAN OIL AND GAS PLC 30.14% 5.76% 0.12 19.41% 9.67% 11.01% 0.46
THAI OIL PCL 37.91% 7.02% 0.35 33.47% 9.13% 17.50% 0.48
TRANSOCEAN LTD 10.13% 2.98% 0.38 10.60% 3.73% -80.61% 0.56
CHINA EVERBRIGHT ENVIRONMENT GROUP LTD 48.60% 1.38% 0.52 8.87% 2.06% 10.56% 0.58
ORLEN SA 133.94% 5.24% 0.14 12.07% 7.54% 5.36% 0.76
IDEMITSU KOSAN CO LTD ORD 14.88% 4.56% 0.27 14.34% 9.08% 3.04% 0.79
HF SINCLAIR CORP 31.47% 3.91% 0.19 7.97% 5.37% 4.10% 0.80
MITSUBISHI CHEMICAL GROUP 15.06% 2.70% 0.33 12.28% 4.57% 9.45% 0.65
ENEOS HOLDINGS INC 34.71% 5.38% 0.30 16.56% 9.18% 7.63% 0.90
ACCIONA SA 93.97% 0.60% 0.37 2.03% 1.40% 7.61% 2.23
Energy Metatheme Indexes
Index Symbol
MarketVector Global Clean Energy Transition ESG Index Symbol MVCET Show more less

The MarketVector™ Global Clean Energy Transition ESG Index (MVCET) tracks the performance of global companies involved in providing technologies and materials contributing to the global transition to clean energy. This is a modified market cap-weighted index that adheres to ESG criteria.

MarketVector Global Nuclear Innovators Index Symbol MVNLRX Show more less

The MarketVector™ Global Nuclear Innovators Index is a thematic index tracking the performance of companies involved in nuclear energy technology and infrastructure.

MVIS Global Oil Refiners Index Symbol MVCRAK Show more less

The MVIS® Global Oil Refiners Index (MVCRAK) tracks the performance of the largest and most liquid companies in the global oil refining industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from refining crude oil products such as gasoline, diesel, jet fuel, fuel oil, naphtha, and other petrochemicals. Companies that market and distribute such products are included in the index as long as refining is performed in company-owned refineries. MVCRAK covers at least 90% of the investable universe.

MVIS Global Uranium & Nuclear Energy Index Symbol MVNLR Show more less

The MVIS® Global Uranium & Nuclear Energy Index (MVNLR) tracks the performance of the largest and most liquid companies in the global uranium and nuclear energy industries. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from uranium and nuclear energy. MVNLR covers at least 90% of the investable universe.

MVIS Global Hydrogen Economy ESG Index Symbol MVHTWO Show more less

The MVIS® Global Hydrogen Economy ESG Index (MVHTWO) tracks the performance of the largest and most liquid companies in the global hydrogren industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from hydrogen or hydrogen-related projects, fuel cells, or the industrial gases projects. MVHTWO covers at least 90% of the investable universe.

MVIS Global Low Carbon Energy Index Symbol MVSMOG Show more less

The MVIS® Global Low Carbon Energy Index (MVSMOG) tracks the performance of the largest and most liquid companies in the global low carbon energy industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from renewable sources of energy, the development of related technologies, or sustainable building products that reduce energy consumption. MVSMOG covers at least 95% of the investable universe.

MVIS North America Energy Infrastructure Index Symbol MVEINC Show more less

The MVIS® North American Energy Infrastructure Index (MVEINC) tracks the performance of the largest and most liquid companies in the energy infrastructure industry located in North America. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from energy infrastructure related activities, such as storage facilities, and the storing and gathering of natural gas, natural gas liquids, crude oil, or refined products. The index also includes midstream companies, including MLPs that are involved in oil and gas pipelines. MVEINC covers at least 90% of the investable universe.

BlueStar Solar Energy Industry Index Symbol BSOLR Show more less

The BlueStar® Solar Energy Industry Index (BSOLR) tracks the performance of the largest and most liquid companies in the global solar energy industry. This is a modified market cap-weighted index, and only includes companies that generate at least 75% of their revenue from products and services related to solar energy, such as solar energy technology, solar field operations or ownership, or solar panel installation services.

MarketVector Global Uranium and Nuclear Energy Infrastructure Index Symbol MVNUCL Show more less

The MarketVector™ Global Uranium and Nuclear Energy Infrastructure Index provides exposure to companies operating in the global uranium and nuclear energy infrastructure sector.

MVIS US Listed Oil Services 25 Index Symbol MVOIH Show more less

The MVIS® US Listed Oil Services 25 Index (MVOIH) tracks the performance of the largest and most liquid companies in the oil services industry that are listed in the US. This is a modified market cap-weighted index, and only includes companies that generate 50% of their revenue from oil equipment, oil services, or oil drilling. MVOIH tracks the 25 largest and most heavily-traded oil service companies.

BlueStar Wind Energy Industry Index Symbol BWIND Show more less

The BlueStar® Wind Energy Industry Index tracks the performance of the largest and most liquid companies in the global wind energy industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue, operating assets, or real estate assets from wind technology, wind farm operations, or wind farm construction services.

Consumer Trends

Q4 2025
  • The Consumer Trends metatheme fell -6.86% QoQ in Q4 2025, giving back part of its mid-year gains as performance rotated away from higher-beta digital leisure.
  • Within the theme, defensive segments held up better, with Travel and Vacation (+6.31% QoQ) and US Profitable Consumer Discretionary (+1.71%) remaining positive.
  • Online Gambling, Video Gaming, and eSports (-13.13%) led downside pressure during the quarter.
  • Additional weakness was seen in Video Gaming & eSports (-12.32%) and Metaverse and e-Games (-9.30%).
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Top 10 Stocks by Quarterly Return
Security Name QTLY
HERBALIFE LTD 52.73%
THE REALREAL INC 48.45%
ON24 INC 39.16%
AMERICAN AIRLINES GROUP INC 36.39%
EXPEDIA GROUP INC 32.54%
LAS VEGAS SANDS CORP 21.01%
MARRIOTT INTERNATIONAL - CL A 19.12%
CHURCHILL DOWNS INC 17.29%
AIRBNB INC 11.78%
AIRBNB INC - CLASS A 11.78%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
GEMINI SPACE STATION INC -58.60%
EVOKE PLC -57.29%
BEYOND MEAT INC -56.61%
ROBLOX CORP -41.50%
GAMESTOP CORP -26.39%
CHINA RUYI HOLDINGS LTD -26.26%
NINTENDO CO LTD -21.75%
XD INC -20.18%
MICRO-STAR INTERNATIONAL CO LTD -19.50%
KRAFTON INC -17.91%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
GEMINI SPACE STATION INC 4.01
BEYOND MEAT INC 3.61
SUPER GROUP SGHC LTD 1.78
KOEI TECMO HOLDINGS CO LTD 1.59
MICRO-STAR INTERNATIONAL CO LTD 1.42
KINGSOFT CORP LTD 1.22
NCSOFT CORP ORD 1.20
BOOKING HOLDINGS INC 1.18
CHINA RUYI HOLDINGS LTD 1.12
BOOKING HOLDINGS INC 0.96

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
HACKSAW ORD 0.00% 56.84% 57.08% 80.16% 8.22% 124.19% 1
DOORDASH INC - A 35.01% 18.57% 10.54% 15.77% 2.16% 15.72% 2
NVIDIA CORP 38.88% 41.05% 36.75% 41.32% 1.71% 60.23% 2
AIRBNB INC-CLASS A 3.28% 1.51% 1.20% 37.87% 7.86% 51.43% 3
DOMINO'S PIZZA INC -0.70% 16.86% 23.34% 13.03% 4.48% 60.78% 5
YUM! BRANDS INC 12.76% 12.85% 9.22% 19.40% 3.72% 31.74% 6
HILTON WORLDWIDE HOLDINGS INC 16.22% 24.59% 26.50% 19.57% 3.44% 31.09% 7
MCDONALD'S CORP 5.43% 10.99% 10.49% 28.07% 3.39% 14.41% 8
ROSS STORES INC 19.09% 15.04% 16.40% 8.91% 3.37% 19.93% 9
CHIPOTLE MEXICAN GRILL INC -38.64% 5.21% 4.08% 13.35% 3.22% 19.89% 11

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
DECKERS OUTDOOR CORP -48.95% 6.40% 56.14% 24.97% 6.49% 1
LULULEMON ATHLETICA INC -45.66% 8.76% 58.35% 26.55% 6.92% 2
TRIP.COM GROUP LTD 4.73% 12.47% 80.72% 27.87% 8.38% 5
AIRBNB INC-CLASS A 3.28% 7.94% 72.33% 23.66% 3.09% 7
MCDONALD'S CORP 5.43% 1.33% 57.63% 54.40% 3.84% 8
AUTOZONE INC 5.92% 3.81% 52.15% 21.68% 4.23% 10
HACKSAW ORD 0.00% 38.48% 81.46% 83.65% 6.38% 11
YUM! BRANDS INC 12.76% 6.78% 46.17% 33.64% 3.39% 11
IMMERSION CORPORATION -22.11% 56.77% 24.29% 10.13% 38.38% 12
ULTA BEAUTY INC 39.11% 5.45% 39.19% 15.65% 4.31% 12

Top Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
PAYONEER GLOBAL INC -44.02% 1.85% 2.69 0.01 7.59% 19.04% 3.23% 0.27
FORD MOTOR CO 32.53% 3.95% 1.16 0.55 23.17% 7.75% 8.91% 0.39
UNITED NATURAL FOODS INC 23.29% 4.55% 1.33 0.46 16.77% 7.08% -4.97% 0.59
MICRO-STAR INTERNATIONAL CO LTD -45.36% 4.10% 1.51 0.06 6.39% 8.54% 5.62% 0.71
OISIX RA DAICHI INC 19.15% 4.89% 1.80 0.40 12.54% 11.70% 4.43% 0.91
TRAVEL LEISURE CO 39.80% 7.34% -5.53 0.83 11.15% 12.69% 8.56% 0.97
ARCHER-DANIELS-MIDLAND CO 13.80% 9.06% 1.23 0.18 17.02% 15.60% 4.27% 1.05
TRIPADVISOR INC -1.42% 9.10% 2.41 0.44 15.22% 16.22% 4.11% 1.12
HIMAX TECHNOLOGIES INC 1.87% 8.21% 1.63 0.35 9.72% 15.48% 4.36% 1.16

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
NETMARBLE CORP -4.63% 3.71% 0.18 7.34% 5.10% 2.78% 0.71
FORD MOTOR CO 32.53% 3.95% 0.55 23.17% 7.75% 8.91% 1.16
DR HORTON INC 3.01% 9.12% 0.17 7.81% 11.16% 8.03% 1.75
PULTEGROUP INC 7.68% 8.95% 0.12 6.99% 10.97% 11.06% 1.78
YUM CHINA HOLDINGS INC -0.89% 8.58% 0.21 5.49% 12.62% 5.09% 3.05
BEST BUY CO INC -21.99% 9.02% 0.24 10.80% 24.75% 4.53% 5.30
AIRBNB INC-CLASS A 3.28% 19.68% 0.10 7.86% 51.43% 3.09% 9.58
ROSS STORES INC 19.09% 12.74% 0.34 3.37% 19.93% 3.55% 9.91
ULTA BEAUTY INC 39.11% 14.84% 0.37 3.88% 23.84% 4.31% 10.23
DOORDASH INC - A 35.01% 11.08% 0.18 2.16% 15.72% 0.87% 10.28
Consumer Trends Metatheme Indexes
Index Symbol
BlueStar E-Commerce US Leaders Index Symbol BECOM Show more less

The BlueStar® E-Commerce US Leaders Index (BECOM) tracks the perforamce of the largest and most liquid US-incorporated and US-listed companies in the E-Commerce industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from e-commerce services, such as internet market places and market place platforms, internet-based payment services, internet booking and streaming services, or e-commerce optimization and fullfillment software.

MVIS Global Future of Food ESG Index Symbol MVFOF Show more less

The MVIS® Global Future of Food ESG index (MVFOF) tracks the performance of the largest and most liquid companies offering products and services related to meat and dairy alternatives, organic foods, food flavors, or innovative agriculture technologies. MVFOF covers at least 90% of the investable universe and adheres to ESG criteria.

MVIS Global Gaming Index Symbol MVBJK Show more less

The MVIS® Global Gaming Index (MVBJK) tracks the performance of the largest and most liquid companies in the global gaming industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from casino and casino hotels, sport betting (incl. Internet gambling and racetracks) and lottery services as well as gaming services, gaming technology, and gaming equipment. MVBJK covers at least 90% of the investable universe.

MarketVector Global Metaverse and e-Games ESG Index Symbol MVMETV Show more less

The MarketVector™ Global Metaverse and e-Games ESG Index (MVMETV) tracks the performance of global companies involved in technologies and services related to the metaverse, e-gaming and eSports. This is a modified market cap-weighted index, and includes companies that generate at least 50% of their revenue from video gaming, eSports, smart phone manufacturing or metaverse-related products and service. MVMETV adheres to ESG criteria.

BlueStar Global Online Gambling, Video Gaming and eSports Index Symbol BVGOG Show more less

The BlueStar® Global Online Gambling, Video Gaming, and eSports Index (BVGOG) tracks the performance of the largest and most liquid companies involved in the online gambling, video gaming and eSports industries. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from online gambling, video gaming and/or eSports. BVGOG covers at least 90% of the investable universe of each the online gambling and video gaming/eSports segments.

BlueStar Travel and Vacation Index Symbol BTOUR Show more less

The BlueStar® Travel and Vacation Index (BTOUR) tracks the performance of the largest and most liquid US Exchange-listed companies in the travel and vacation industries. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from travel and vacation products and services, such as hotel accommodations, commercial airlines, casino resorts, hotel time shares, or cruises, amongst other types of services.

MVIS Global Video Gaming & eSports Index Symbol MVESPO Show more less

The MVIS® Global Video Gaming & eSports Index (MVESPO) tracks the performance of the largest and more liquid companies in the global video gaming and eSports industries. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from video gaming and/or eSports, such as video games development and related software/hardware, streaming services, and eSports events companies. MVESPO covers at least 90% of the investable universe.

Financials 2.0

Q4 2025
  • The Financials 2.0 metatheme declined -11.73% QoQ in Q4 2025, as the quarter was dominated by broad crypto and fintech de-risking following prior strength.
  • Drawdowns were concentrated in Stablecoin Technology (-20.59% QoQ) and Digital Assets Equity (-11.45%), with additional pressure from Fintech (-5.25%) and Tokenization Technology (-4.27%).
  • Pockets of resilience included Alternative Asset Managers (+3.38%), while E-Brokers & Digital Capital Markets (-2.37%) held up relatively better than crypto-native segments.
  • Dispersion remained high at the single-name level, with winners led by BREAD Financial (+32.74%), Hut 8 (+31.97%), flatexDEGIRO (+31.93%), and DigitalBridge (+31.11%).
  • The steepest declines were seen in higher-beta crypto-linked equities, including Bakkt (-70.16%), MARA (-50.82%), and Coinbase (-32.99%).
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Top 10 Stocks by Quarterly Return
Security Name QTLY
BREAD FINANCIAL HOLDINGS INC 32.74%
HUT 8 CORP 31.97%
FLATEX AG 31.93%
DIGITALBRIDGE GROUP INC 31.11%
TEL AVIV STOCK EXCHANGE LTD 29.16%
ALPHABET INC - CL A 28.75%
CMC MARKETS PLC 25.14%
TEMENOS AG 24.72%
CAPITAL ONE FINANCIAL CORP 14.01%
OSL GROUP LTD 13.34%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
BAKKT HOLDINGS INC -70.16%
GEMINI SPACE STATION INC -58.60%
STRATEGY INC - CL A -52.84%
MARA HOLDINGS INC -50.82%
FISERV INC -47.90%
BULLISH -40.47%
CIRCLE INTERNET GROUP INC -40.19%
GALAXY DIGITAL INC -33.87%
COINBASE GLOBAL INC - CLASS A -32.99%
ISHARES ETHEREUM TRUST ETF -28.82%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
GRAYSCALE CHAINLINK TRUST 4.01
BITWISE XRP ETF 4.01
FIGURE TECHNOLOGY SOLUTIONS INC 4.01
BITWISE SOLANA STAKING ETF 4.01
GEMINI SPACE STATION INC 4.01
BULLISH 2.71
GALAXY DIGITAL INC 2.48
CIRCLE INTERNET GROUP INC 2.27
ETORO GROUP LTD 2.16
OSL GROUP LTD 1.21

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
INTERACTIVE BROKERS GROUP INC 45.60% 1128.39% 1153.31% 269.32% 95.13% 522.57% 1
ADYEN NV 8.53% 127.41% 135.11% 156.31% 8.01% 71.39% 2
FLOW TRADERS LTD 32.15% 82.04% 82.62% 203.69% 144.61% 191.69% 3
KASPI.KZ JSC SPONSORED ADS -17.51% 159.55% 170.77% 85.01% 40.00% 125.24% 7
FLATEX AG 181.67% 67.44% 71.43% 279.25% 32.97% 157.75% 8
X-TRADE BROKERS DOM MAKLERSK 17.21% 29.29% 29.39% 140.12% 33.25% 154.82% 11
NU HOLDINGS LTD 61.58% 81.90% 80.81% 71.22% 14.57% 76.24% 12
BROOKFIELD ASSET MANAGEMENT LTD CLASS A -3.24% 164.40% 169.34% 47.39% 1.96% 16.95% 13
WISE PLC - A -10.23% 44.38% 43.03% 31.81% 6.34% 33.69% 14
FLOW TRADERS LTD 32.15% 82.04% 82.62% 203.69% 144.61% 191.69% 999

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
NH INVESTMENT & SECURITIES CO LTD 54.57% 6.74% 86.82% 65.37% 11.14% 1
ICG PLC 6.77% 31.13% 98.46% 65.40% 9.82% 2
X-TRADE BROKERS DOM MAKLERSK 17.21% 12.64% 86.35% 38.40% 7.19% 3
UP FINTECH HOLDING LTD - ADR 47.99% 43.37% 95.51% 47.06% 4.45% 4
BRIGHT SMART SECURITIES AND COMMODITIES GROUP 253.24% 11.51% 89.82% 67.61% 4.61% 5
APOLLO GLOBAL MANAGEMENT INC -12.35% 5.85% 56.17% 29.12% 4.63% 14
IG GROUP HOLDINGS PLC 42.58% 4.87% 89.01% 48.52% 7.74% 19
SINGAPORE EXCHANGE (SGX) LTD ORD 41.22% 4.61% 88.52% 63.49% 3.47% 20
PLUS500 LTD 43.96% 2.13% 97.64% 43.73% 7.62% 21
EXODUS MOVEMENT INC -51.79% 17.79% 56.31% 14.29% 22.93% 24

Top 10 Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
EURONEXT NV 34.05% 0.21% 2.93 0.01 5.80% 11.52% 4.74% 0.04
LONDON STOCK EXCHANGE GROUP ORD -14.81% 0.31% 2.25 0.01 5.61% 8.79% 2.01% 0.06
FLOW TRADERS LTD 32.15% 10.55% 1.33 0.20 144.61% 191.69% 16.01% 0.07
INTERACTIVE BROKERS GROUP INC 45.60% 13.61% 5.61 0.14 95.13% 522.57% -2.54% 0.15
CITIGROUP INC 65.78% 0.97% 1.08 0.27 12.28% 4.82% 6.10% 0.16
BANK OF AMERICA CORP 25.14% 1.25% 1.45 0.21 10.61% 6.86% 6.67% 0.40
WISE PLC - A -10.23% 2.62% 6.21 0.01 6.34% 33.69% 4.08% 0.42
WEX INC -15.02% 4.45% 4.57 0.35 12.58% 13.28% 5.15% 0.53
DEUTSCHE BOERSE AG 13.94% 0.65% 3.89 0.10 4.54% 11.41% 4.47% 0.53
WELLS FARGO & CO 32.69% 1.74% 1.78 0.20 12.24% 9.89% 6.51% 0.54

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
BREAD FINANCIAL HOLDINGS INC 21.24% 9.10% 0.17 58.46% 34.25% 13.20% 1.03
CITIGROUP INC 65.78% 0.97% 0.27 12.28% 4.82% 6.10% 1.08
FLOW TRADERS LTD 32.15% 10.55% 0.20 144.61% 191.69% 16.01% 1.33
OPERA LTD -25.24% 8.36% 0.01 6.99% 9.30% 6.44% 1.34
CAPITAL ONE FINANCIAL CORP 35.91% 3.15% 0.08 13.53% 12.66% 1.19% 1.35
BILL HOLDINGS INC -35.62% 3.06% 0.19 5.68% 5.38% 0.22% 1.43
BANK OF AMERICA CORP 25.14% 1.25% 0.21 10.61% 6.86% 6.67% 1.45
WELLS FARGO & CO 32.69% 1.74% 0.20 12.24% 9.89% 6.51% 1.78
CMC MARKETS PLC 29.48% 15.30% 0.03 14.04% 26.62% 7.49% 1.92
DIGITALBRIDGE GROUP INC 35.99% 6.04% 0.10 7.53% 8.74% 0.45% 2.23
Financials Metatheme Indexes
Index Symbol
MarketVector Alternative Asset Managers Index Symbol MVAALT Show more less

The MarketVector™ Alternative Asset Managers Index (MVAALT) is a thematic index tracking the performance of US and Canadian companies involved in the alternative asset management industry.

MVIS Global Digital Assets Equity Index Symbol MVDAPP Show more less

The MVIS® Global Digital Assets Equity Index (MVDAPP) tracks the performance of the largest and most liquid companies in the digital assets industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from digital asset services and products, such as exchanges, payment gateways, mining operations, software services, equipment and technology, digital asset infrastructure, or the facilitation of commerce with the use of digital assets. MVDAPP covers at least 90% of the investable universe.

BlueStar Global E-Brokers and Digital Capital Markets Index Symbol BBIDS Show more less

The BlueStar® Global E-Brokers and Digital Capital Markets index (BBIDS) tracks the performance of the largest and most liquid companies in the global online brokerage industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from online brokerage.

BlueStar Fintech Index Symbol BFNQ Show more less

The BlueStar® Fintech Index (BFNQ) tracks the performance of the largest and most liquid companies in the global fintech industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from fintech related products or services, such as banking or credit card software, enterprise transaction and accounting software, point-of-sale hardware and transaction processing software, internet-based and peer-to-peer transaction apps, electronic payment processing or transaction recording, or securities and asset trading software.

Healthcare innovation

Q4 2025
  • Healthcare Innovation gained +7.06% QoQ in Q4 2025, extending its rebound as the group pushed back toward prior highs.
  • Performance breadth improved, led by Bioproduction Tech & Tools (+16.89% QoQ), with Future Healthcare (+5.85%) and Bionic Healthcare (+5.10%) also contributing.
  • On a one-year view, Future Healthcare remains the clearest structural leader (+19.65% YoY), while other sleeves posted more modest gains.
  • Single-name dispersion remained wide, with winners led by Arrowhead (+92.49%), Exact Sciences (+85.63%), and Tandem Diabetes (+81.05%).
  • Weakness centered in select prior leaders and “story” names, including Intellia (-47.94%), Hims & Hers (-42.75%), and Doximity (-39.47%).
  • Unusual-volume activity skewed toward diagnostics and sequencing names such as NeoGenomics, Twist, Exact Sciences, 10x Genomics, and Guardant, consistent with event-driven positioning into year-end.
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Top 10 Stocks by Quarterly Return
Security Name QTLY
ARROWHEAD PHARMACEUTICALS INC 92.49%
EXACT SCIENCES CORP 85.63%
TANDEM DIABETES CARE INC 81.05%
AMICUS THERAPEUTICS INC 80.71%
GUARDANT HEALTH INC 63.48%
NEOGENOMICS INC 52.33%
GRAIL INC 44.75%
NATERA INC 42.32%
10X GENOMICS INC 39.52%
ILLUMINA INC 38.11%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
INTELLIA THERAPEUTICS INC -47.94%
HIMS & HERS HEALTH INC -42.75%
DOXIMITY INC - CLASS A -39.47%
SCHOTT PHARMA AG & CO KGAA -28.36%
PHREESIA INC -28.06%
CERTARA INC -27.91%
PRO MEDICUS LTD -27.70%
TEMPUS AI INC -26.84%
GENSCRIPT BIOTECH CORP -25.71%
OXFORD NANOPORE TECHNOLOGIES PLC -15.49%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
NEOGENOMICS INC 1.48
TWIST BIOSCIENCE CORP 1.30
EXACT SCIENCES CORP 1.24
DEXCOM INC 1.23
10X GENOMICS INC 1.04
GUARDANT HEALTH INC 1.00
QIAGEN NV 1.00
GRAIL INC 0.96
NATERA INC 0.93
INSULET CORP 0.93

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
PRO MEDICUS LTD -4.89% 8.18% 8.64% 52.35% 0.47% 42.61% 1
DOXIMITY INC-CLASS A -17.06% 33.93% 34.49% 50.23% 5.13% 28.25% 2
MEDPACE HOLDINGS INC 69.05% 16.82% 18.26% 28.70% 4.28% 163.98% 3
VEEVA SYSTEMS INC 6.17% 27.79% 28.10% 43.86% 3.68% 18.98% 4
LEMAITRE VASCULAR INC -11.98% 66.07% 78.21% 27.49% 3.60% 11.79% 7
SECTRA AB-B SHS 8.97% 106.56% 145.99% 25.23% 1.71% 43.25% 8
CHEMOMETEC A/S 59.97% 18.31% 11.88% 28.80% 1.10% 19.54% 9
GLOBUS MEDICAL INC 5.56% 37.37% 40.65% 20.58% 5.82% 12.65% 10
LIFETECH SCIENTIFIC CORP 12.01% 83.85% 593.28% 39.63% 7.85% 13.85% 11
INTUITIVE SURGICAL INC 8.51% 22.59% 74.21% 23.63% 1.13% 13.42% 14

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
DOXIMITY INC-CLASS A -17.06% 12.93% 90.20% 42.43% 2.84% 1
REGENERON PHARMACEUTICALS 8.36% 0.32% 81.72% 30.98% 5.40% 2
PRO MEDICUS LTD -4.89% 13.29% 79.42% 77.44% 0.48% 3
LEMAITRE VASCULAR INC -11.98% 9.55% 68.61% 29.99% 2.87% 4
ZIMMER BIOMET HOLDINGS INC -14.87% 4.33% 62.61% 31.72% 4.49% 5
DEMANT A/S -7.85% 1.32% 70.10% 25.01% 4.62% 6
INTUITIVE SURGICAL INC 8.51% 15.08% 66.38% 35.28% 1.33% 7
SONOVA HOLDING AG -19.88% 7.51% 70.19% 25.38% 3.92% 8
VEEVA SYSTEMS INC 6.17% 15.96% 74.95% 31.01% 2.30% 9
EDWARDS LIFESCIENCES CORP 15.16% 8.17% 77.90% 29.89% 2.75% 10

Top Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
TELADOC HEALTH INC -22.99% 4.73% 0.89 0.36 10.95% 5.61% -17.95% 1.17
ENVISTA HOLDINGS CORP 12.55% 4.65% 1.16 0.28 7.35% 5.64% 0.43% 1.83

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
AZENTA INC -33.48% 1.86% 0.03 2.51% 2.15% -3.67% 0.88
BIO-RAD LABORATORIES INC -7.77% 3.47% 0.14 4.12% 4.16% -7.93% 1.21
TECAN GROUP AG-REG -27.30% 6.49% 0.17 7.59% 9.37% 3.52% 1.28
CERTARA INC -17.28% 5.96% 0.20 6.52% 6.71% 0.77% 1.32
ZIMMER BIOMET HOLDINGS INC -14.87% 4.81% 0.35 6.35% 5.58% 4.49% 1.40
INTEGER HOLDINGS CORP -40.82% 3.57% 0.39 4.41% 3.98% 3.12% 1.57
LIFETECH SCIENTIFIC CORP 12.01% 9.79% 0.00 7.85% 13.85% 1.15% 1.68
LABCORP HOLDINGS INC 9.40% 7.56% 0.36 6.64% 9.50% 4.06% 2.39
SMITH & NEPHEW PLC - SPON ADR 33.48% 7.48% 0.32 5.65% 9.06% 3.44% 2.59
REGENERON PHARMACEUTICALS 8.36% 9.66% 0.07 4.87% 11.53% 5.40% 2.63
Healthcare Innovation Metatheme Indexes
Index Symbol
MVIS Global Bionic Healthcare ESG Index Symbol MVBION Show more less

The MVIS® Global Bionic Healthcare ESG Index (MVBION) tracks the performance of the largest and most liquid companies in medical/dental or vision-related implants, bioprinting, prosthesis or medical robotics. MVBION covers at least 90% of the investable universe.

MarketVector Bioproduction Tech and Tools ESG Index Symbol MVBIOP Show more less

The MarketVector™ Bioproduction Tech and Tools ESG Index tracks the performance of the largest and most liquid global companies involved in the development of technologies, tools, materials, and processes related to the development or manufacture of biopharmaceuticals. This is a modified market cap-weighted index, and includes companies that generate at least 50% of their revenue from bioproduction and the following products and services related to the bioproduction industry: laboratory technologies, contract research, contract manufacturing, and clinical diagnostics. MVBIOP covers at least 98% of the investable universe and adheres to ESG criteria.

MVIS Global Future Healthcare ESG Index Symbol MVFHC Show more less

The MVIS® Global Future Healthcare ESG Index (MVFHC) is a global index that tracks the performance of companies that are involved in the genomic health care and electronic healthcare industries. The index is a modified market cap-weighted index with pure-play exposure. MVFHC covers at least 90% of the investable universe.

Materials

Q4 2025
  • The Materials metatheme gained +12.68% QoQ, extending its sharp uptrend and building on the strong momentum visible in the three-year chart.
  • Leadership skewed toward precious metals and energy-transition inputs, with Clean-Tech Metals (+24.99% QoQ), Junior Gold Miners (+21.57%), Rare Earth / Strategic Metals (+21.33%), and Global Gold Miners (+16.70%) outperforming.
  • Cyclical breadth improved as Global Steel (+15.34%) and Global Natural Resources (+10.20%) participated, while Agribusiness (+2.58%) lagged.
  • Stock-level dispersion remained wide, with winners strongly aligned to the theme, led by lithium and battery metals such as Sigma Lithium (+105.77%), Albemarle (+74.44%), Pilbara (+69.01%), Liontown (+61.37%), and SQM (+60.07%).
  • Fertilizer and ag-chem exposures were among the weakest performers, including FMC (-58.76%) and Mosaic (-30.54%).
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Top 10 Stocks by Quarterly Return
Security Name QTLY
SIGMA LITHIUM CORP 105.77%
ALBEMARLE CORP 74.44%
PILBARA MINERALS LTD 69.01%
DISCOVERY SILVER CORP 64.72%
LIONTOWN RESOURCES LTD 61.37%
QUIMICA Y MINERA CHIL-SP ADR 60.07%
HECLA MINING CO 58.60%
G MINING VENTURES CORP 52.20%
WESTGOLD RESOURCES PTY LTD 45.08%
PAN AMERICAN SILVER CORP 33.83%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
BLUE GOLD CL A ORD -79.31%
FMC CORP -58.76%
MOSAIC CO / THE -30.54%
CALEDONIA MINING CORP PLC -27.73%
IPERIONX LTD - ADR -26.68%
LYNAS RARE EARTHS LTD -25.31%
MP MATERIALS CORP -24.68%
LITHIUM AMERICAS CORP -23.64%
CNH INDUSTRIAL NV -15.02%
CF INDUSTRIES HOLDINGS INC -13.78%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
AXIA ENERGIA ADR PFD C 4.01
LITHIUM AMERICAS CORP 2.51
ORLA MINING LTD 1.93
EQUINOX GOLD CORP 1.91
ROYAL GOLD INC 1.69
LUNDIN GOLD INC 1.57
INDUSTRIAS PENOLES SAB DE CV 1.29
PAN AMERICAN SILVER CORP 1.27
HARMONY GOLD MNG - SPON ADR 1.26
COEUR MINING INC 1.25

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
ORLA MINING LTD 143.32% 287.03% 312.04% 74.32% 12.54% 60.42% 1
RAMELIUS RESOURCES LTD 116.45% 14.44% 13.65% 50.59% 7.38% 30.75% 3
INNER MONGOLIA XINGYE MINI-A 234.40% 81.53% 146.62% 59.21% 4.64% 24.11% 5
ZANGGE MINING CO LTD 217.91% 243.26% 294.72% 93.39% 2.25% 19.80% 8
REGIS RESOURCES LTD 218.89% 15.70% 12.03% 33.07% 9.25% 31.39% 12
CAL-MAINE FOODS INC -22.69% 123.59% 156.82% 27.72% 31.59% 45.21% 15
MINMETALS RESOURCES LTD 241.89% 65.91% 256.19% 21.20% 8.34% 14.51% 16
CAMECO CORP 78.41% 44.40% 48.23% 26.42% 1.64% 11.69% 21

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
DIAMONDBACK ENERGY INC -8.24% 38.81% 39.14% 67.63% 9.47% 1
WANGUO INTERNATIONAL MINING GROUP LTD 165.79% 16.27% 62.72% 57.56% 3.18% 11
WEST AFRICAN RESOURCES LTD 125.17% 16.05% 51.75% 58.75% 9.40% 12
CAL-MAINE FOODS INC -22.69% 42.61% 43.54% 38.88% 32.68% 28
PAN AFRICAN RESOURCES PLC 278.32% 46.32% 41.33% 42.40% 4.40% 32
FIRST SOLAR INC 48.22% 20.07% 40.30% 41.86% 4.99% 42
SILVERCORP METALS INC 178.82% 21.27% 40.43% 46.59% 1.32% 43
WOODSIDE ENERGY GROUP LTD -0.06% 4.31% 37.62% 73.27% 9.97% 49
DRDGOLD LTD 259.33% 12.30% 38.98% 42.97% 4.62% 52
WILLIAMS COS INC 11.07% 7.71% 40.42% 57.47% 3.22% 57

Top Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
MITSUBISHI MATERIALS CORP 53.41% 4.84% 0.67 0.23 27.06% 13.45% 3.25% 0.28
HANWA CO LTD ORD 44.77% 4.25% 0.69 0.32 16.72% 7.18% 15.25% 0.33
CNH INDUSTRIAL NV -18.62% 4.68% 1.49 0.63 17.61% 5.76% 5.17% 0.36
HYUNDAI STEEL CO 50.74% 2.52% 0.21 0.30 20.90% 3.32% -0.56% 0.38
MARUHA NICHIRO CORP 27.74% 2.36% 0.79 0.41 9.16% 4.50% 10.35% 0.42
JFE HOLDINGS INC 12.87% 1.97% 0.48 0.33 9.22% 2.80% 6.27% 0.51
CHAROEN POKPHAND FOODS PCL 3.47% 5.34% 0.83 0.63 24.57% 8.72% 15.25% 0.96

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
HYUNDAI STEEL CO 50.74% 2.52% 0.30 20.90% 3.32% -0.56% 0.21
JFE HOLDINGS INC 12.87% 1.97% 0.33 9.22% 2.80% 6.27% 0.48
NIPPON STEEL CORP 1.41% 1.61% 0.36 6.94% 2.78% -33.58% 0.62
PPB GROUP BERHAD -1.72% 3.69% 0.02 6.24% 3.93% 4.88% 0.64
MITSUBISHI MATERIALS CORP 53.41% 4.84% 0.23 27.06% 13.45% 3.25% 0.67
HANWA CO LTD ORD 44.77% 4.25% 0.32 16.72% 7.18% 15.25% 0.69
MARUHA NICHIRO CORP 27.74% 2.36% 0.41 9.16% 4.50% 10.35% 0.79
APERAM SA 58.48% 5.16% 0.26 10.61% 7.04% -0.29% 0.81
CHAROEN POKPHAND FOODS PCL 3.47% 5.34% 0.63 24.57% 8.72% 15.25% 0.83
SVENSKA CELLULOSA AKTIEBOLAGET CLASS B 4.84% 0.98% 0.10 1.67% 1.24% 3.72% 0.84
Materials Metatheme Indexes
Index Symbol
MVIS Global Agribusiness Index Symbol MVMOO Show more less

The MVIS® Global Agribusiness Index (MVMOO) tracks the performance of the largest and most liquid companies in the global agribusiness segment. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenues from agri-chemicals and fertilisers, seeds and traits, farm/irrigation equipment and farm machinery, agricultural products (incl. Grain, tobacco, meat, poultry, and sugar), aquaculture and fishing, livestock, plantations, and trading of agricultural products. MVMOO covers at least 90% of the investable universe.

MVIS Global Clean-Tech Metals Index Symbol MVGMET Show more less

The MVIS® Global Clean-Tech Metals Index (MVGMET) tracks the performance of global metals and rare earth element miners, refiners, and recyclers focused on metals and elements that are used in technologies contributing to the proliferation of clean energy as defined by MarketVector Indexes. MVGMET covers at least 90% of the investable universe.

MarketVector Global Gold Miners Index Symbol MVGDX Show more less

The MarketVector™ Global Gold Miners Index is a thematic index tracking the performance of companies involved in the gold and silver mining industry.

MarketVector Global Natural Resources Index Symbol MVGNR Show more less

The MarketVector™ Global Natural Resources Index (MVGNR) tracks the performance of companies whose revenue primarily sources from natural resources. These resources encompass a broad spectrum of raw materials and commodities, including metals, energy sources, and agricultural products.

MarketVector Global Steel Index Symbol MVSLX Show more less

The MarketVector™ Global Steel Index is a thematic index tracking the performance of companies involved in the global steel segment.

MVIS Global Junior Gold Miners Index Symbol MVGDXJ Show more less

The MVIS® Global Junior Gold Miners Index (MVGDXJ) tracks the performance of the most liquid small-cap companies in the global gold and silver mining industries. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from gold or silver mining, or at least 50% of their mining mineral resources are from gold or silver.

MVIS Global Rare Earth/Strategic Metals Index Symbol MVREMX Show more less

The MVIS® Global Rare Earth/Strategic Metals Index (MVREMX) tracks the performance of the largest and most liquid companies in the global rare earth and strategic metals industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from rare earth and strategic metals or have at least 50% of the company's mining mineral resources from rare earth and strategic metals. The index includes refiners, recyclers, and producers of rare earth and strategic metals and minerals. MVREMX covers at least 90% of the investable universe.

Nextgen Hardware & Communications

Q4 2025
  • The Hardware & Communications metatheme gained +2.86% QoQ in Q4 2025, extending its multi-year uptrend but with narrower leadership than earlier in the cycle.
  • US Listed Semiconductor 25 (+16.02% QoQ) led the complex, alongside Machine Learning & Quantum Computing (+9.68%), US Profitable Communications (+7.85%), and Connective Technologies (+5.70%); Global Quantum Leaders (+4.05%) and US Listed Fabless Semiconductor (+1.46%) were positive but lagged.
  • Dispersion remained extreme, with upside driven by Quantum Numbers (+227.84%), Coherent (+71.34%), and Micron (+70.58%).
  • Higher-beta AI and quantum infrastructure names corrected, including CoreWeave (-47.67%), Quantum Computing Inc (-44.27%), and Arqit (-43.54%).
  • Unusual volume clustered around AI “control points” such as Alphabet, Synopsys, Marvell, AMD, Qualcomm, Broadcom, and NVIDIA.
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Top 10 Stocks by Quarterly Return
Security Name QTLY
QUANTUM NUMBERS CORP 227.84%
COHERENT CORP 71.34%
MICRON TECHNOLOGY INC 70.58%
GLOBALSTAR INC 67.74%
TOWER SEMICONDUCTOR LTD 62.41%
CIENA CORP 60.55%
TERADYNE INC 40.63%
NOKIA CORP - SPON ADR 34.51%
ADVANCED MICRO DEVICES 32.37%
ALPHABET INC - CL A 28.75%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
COREWEAVE INC -47.67%
QUANTUM COMPUTING INC -44.27%
ARQIT QUANTUM INC -43.54%
ORACLE CORP -30.70%
IONQ INC -27.04%
RIGETTI COMPUTING INC -25.65%
BTQ TECHNOLOGIES CORP -25.40%
ARM HOLDINGS ADR -22.74%
SKYWORKS SOLUTIONS INC -17.63%
CADENCE DESIGN SYSTEMS INC -11.01%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
ALPHABET INC - CL A 1.90
QUANTUM COMPUTING INC 1.59
NOKIA CORP - SPON ADR 1.59
SYNOPSYS INC 1.47
MARVELL TECHNOLOGY INC 1.18
ADVANCED MICRO DEVICES 1.09
ALPHABET INC - CL A 1.09
QUALCOMM INC 1.06
BROADCOM INC 1.01
NVIDIA CORP 0.89

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
PINTEREST INC- CLASS A -10.72% 18.91% 19.33% 27.65% 7.27% 22.30% 1
SPOTIFY TECHNOLOGY SA 29.80% 35.10% 34.02% 17.37% 2.79% 34.55% 2
NETFLIX INC 5.19% 30.06% 29.55% 20.70% 2.09% 21.06% 3
TRADE DESK INC/THE -CLASS A -67.70% 19.08% 7.28% 24.31% 4.06% 23.37% 4
ALPHABET INC-CL C 64.78% 20.85% 1.08% 19.08% 2.09% 17.40% 5
ARISTA NETWORKS INC 18.55% 11.67% 10.06% 47.89% 2.45% 33.98% 5
AT&T INC 9.09% 5.39% 7.82% 16.03% 11.33% 7.74% 7
OMNICOM GROUP -6.15% 5.32% 4.72% 10.38% 6.57% 16.26% 8
WALT DISNEY CO/THE 2.17% 20.75% 19.79% 10.70% 4.96% 6.81% 9
COMCAST CORP-CLASS A -20.36% 18.82% 44.52% 14.70% 16.69% 9.53% 11

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
INTERDIGITAL INC 64.35% 6.92% 84.12% 70.04% 4.68% 1
META PLATFORMS INC-CLASS A 12.74% 15.17% 82.00% 52.60% 3.42% 1
ALPHABET INC-CL C 64.78% 10.21% 59.18% 38.11% 3.23% 3
TRADE DESK INC/THE -CLASS A -67.70% 14.14% 78.81% 22.78% 2.31% 4
CHARTER COMMUNICATIONS INC-A -39.10% 0.03% 50.72% 40.13% 17.27% 5
NETFLIX INC 5.19% 11.45% 48.02% 66.32% 6.50% 6
AT&T INC 9.09% 1.75% 42.70% 36.93% 12.39% 8
OMNICOM GROUP -6.15% 2.40% 17.42% 15.49% 8.39% 10
RAMBUS INC 73.84% 21.89% 75.75% 41.78% 2.29% 10
WALT DISNEY CO/THE 2.17% 2.27% 31.94% 20.08% 6.02% 11

Top 10 Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
BANK OF AMERICA CORP 25.14% 1.25% 1.45 0.21 10.61% 6.86% 6.67% 0.40
LG ELECTRONICS INC 12.47% 2.35% 0.71 0.21 10.24% 4.70% 6.64% 0.44
WELLS FARGO & CO 32.69% 1.74% 1.78 0.20 12.24% 9.89% 6.51% 0.54
ASUSTEK COMPUTER INC -7.18% 3.68% 1.53 0.07 5.49% 8.37% 8.53% 0.95

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
LG ELECTRONICS INC 12.47% 2.35% 0.21 10.24% 4.70% 6.64% 0.71
VIASAT INC 304.94% 7.17% 0.48 22.71% 9.22% -11.67% 1.03
COMCAST CORP - CLASS A -20.36% 6.64% 0.36 16.69% 9.53% 21.48% 1.05
NETSCOUT SYSTEMS INC 24.93% 11.75% 0.02 13.09% 15.92% 4.65% 1.24
AT&T INC 9.09% 4.72% 0.37 11.33% 7.74% 12.39% 1.60
CHARTER COMMUNICATIONS INC - A -39.10% 2.87% 0.63 16.25% 4.00% 17.27% 1.76
WALT DISNEY CO / THE 2.17% 5.10% 0.23 4.96% 6.81% 6.02% 1.85
OMNICOM GROUP -6.15% 5.78% 0.25 6.57% 16.26% 8.39% 3.37
PINTEREST INC - CLASS A -10.72% 20.34% 0.04 7.27% 22.30% 11.00% 3.64
TRADE DESK INC / THE - CLASS A -67.70% 11.42% 0.06 4.06% 23.37% 2.31% 7.07
Nextgen Hardware & Communications Metatheme Indexes
Index Symbol
BlueStar Connective Technologies Index Symbol BCNCT Show more less

The BlueStar® Connective Technologies Index (BCNCT) tracks the performance of the largest and most liquid companies listed on US exchanges offering hardware, software, or services to the rollout of 5G, or 6G networks, and other connective technologies. This is a modified market cap-weighted index.

MarketVector Global Quantum Leaders Index Symbol MVQTML Show more less

The MarketVector™ Global Quantum Leaders Index (MVQTML) is a thematic index tracking the performance of companies primarily focused on the development of quantum computing technology or are leaders in ownership of quantum computing related patents.

BlueStar Machine Learning and Quantum Computing Index Symbol BQTUM Show more less

The BlueStar® Machine Learning and Quantum Computing Index (BQTUM) tracks the performance of the largest and most liquid companies in the global quantum computing and machine learning industries. This is a modified market cap-weighted index, and only includes companies that are acitive in the quantum computing or machine learning business, such as the development or use of quantum computers or computing chips, superconducting materials, applications built on quantum computers, embedded artificial intelligence chips, or software that specialize in the perception, collection, visualization, or management of big data.

MarketVector US Listed Fabless Semiconductor Index Symbol MVSMHX Show more less

The MarketVector™ US Listed Fabless Semiconductor Index is a thematic index tracking the performance of US-listed companies that specialize in the semiconductor industry and operate as fabless semiconductor companies.

MVIS US Listed Semiconductor 25 Index Symbol MVSMH Show more less

The MVIS® US Listed Semiconductor 25 Index (MVSMH) tracks the performance of the 25 largest and most liquid US exchange-listed companies in the semiconductor industry. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from semiconductors or semiconductor equipment.

Nextgen Software

Q4 2025
  • The Next Gen Software metatheme declined -6.65% QoQ in Q4 2025, as gains in data/AI infrastructure were more than offset by a deeper pullback in adtech and higher-beta “AI narrative” names.
  • In the subthemes, Big Data & AI (+4.48% QoQ) held up best and remains the longer-term leader at +27.73% YoY, while Artificial Intelligence (-8.28% QoQ; +13.38% YoY) and Digital Advertising (-12.30% QoQ; -14.62% YoY) drove the overall drawdown.
  • Dispersion stayed wide at the single-name level, with upside leaders including BrainPad (+83.74%), Micron (+70.58%), Semrush (+67.94%), Confluent (+52.73%), and MongoDB (+35.22%).
  • The sharpest declines were concentrated in higher-beta “AI infrastructure / sentiment” exposures, including Quanbox (-61.98%), CoreWeave (-47.67%), Domo (-46.78%), SoundHound (-38.00%), and Oracle (-30.70%).
  • Unusual volume skewed toward event-driven smaller names plus select platform software, such as Confluent, Oracle, and Klaviyo.
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Top 10 Stocks by Quarterly Return
Security Name QTLY
BRAINPAD INC 83.74%
MICRON TECHNOLOGY INC 70.58%
SEMRUSH HOLDINGS INC - A 67.94%
CONFLUENT INC - CLASS A 52.73%
GRAIL INC 44.75%
TERADATA CORP 41.52%
MONGODB INC 35.22%
TABOOLA.COM LTD 35.19%
BRAZE INC - A 20.57%
KLAVIYO SRS A ORD 17.26%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
QUNABOX GROUP ORD -61.98%
COREWEAVE INC -47.67%
HEALTHYWAY INC ORD -47.60%
DOMO INC - CLASS B -46.78%
DOBOT ORD H -40.62%
SUPER MICRO COMPUTER INC -38.94%
SOUNDHOUND AI INC - A -38.00%
FOURTH PARADIGM ORD H -36.52%
APPIER GROUP INC -34.47%
ORACLE CORP -30.70%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
UNISOUND ORD H 3.09
CARIS LIFE SCIENCES INC 2.84
VERITONE INC 2.74
NIQ GLOBAL INTELLIGENCE PLC 2.57
QUNABOX GROUP ORD 2.14
ORACLE CORP 1.59
SPROUT SOCIAL INC 1.58
KLAVIYO SRS A ORD 1.47
BIGBEAR.AI HOLDINGS INC 1.45
CONFLUENT INC - CLASS A 1.37

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
NVIDIA CORP 38.88% 41.05% 36.75% 41.32% 1.71% 60.23% 1
APPLOVIN CORP 108.08% 60.00% 60.13% 64.55% 1.62% 67.26% 2
PALANTIR TECHNOLOGIES INC 135.03% 57.51% 57.18% 46.04% 0.44% 26.46% 4
SYMBOTIC INC 150.95% 389.52% 513.82% 35.07% 10.86% 321.23% 6
SERVICENOW INC -27.75% 13.45% 15.70% 30.83% 2.45% 28.72% 7
SALESFORCE INC -20.76% 7.80% 8.60% 31.98% 5.19% 18.16% 8
PTC INC -5.25% 8.17% 9.05% 31.23% 4.13% 16.62% 9
YEXT INC 26.73% 62.71% 66.98% 13.75% 6.23% 19.33% 10

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
NVIDIA CORP 38.88% 65.22% 70.05% 60.22% 2.16% 1
META PLATFORMS INC 12.74% 15.17% 82.00% 52.60% 3.42% 2
ADOBE INC -21.29% 10.43% 89.27% 40.07% 4.77% 3
CADENCE DESIGN SYSTEMS INC 4.03% 12.31% 84.83% 35.93% 1.24% 6
PTC INC -5.25% 18.41% 82.08% 41.71% 3.49% 7
TRADE DESK INC/THE -CLASS A -67.70% 14.14% 78.81% 22.78% 2.31% 10
MICROSOFT CORP 14.74% 12.23% 68.76% 59.82% 2.91% 11
AUTODESK INC 0.15% 15.62% 84.96% 24.93% 1.74% 12
SYNOPSYS INC -3.22% 15.13% 72.03% 26.13% 1.72% 15
DOUBLEVERIFY HOLDINGS INC -40.45% 11.64% 74.64% 18.61% 2.29% 16

Top 10 Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
FINVOLUTION GROUP -22.97% 6.00% 0.58 0.04 30.26% 9.04% 9.96% 0.39
HAVAS NV 18.84% 3.10% 0.98 0.11 12.19% 10.54% 4.49% 0.48
PUBMATIC INC -39.62% 7.13% 1.67 0.07 14.25% 16.99% -2.14% 0.65
PERION NETWORK LTD 13.11% 2.09% 0.63 0.02 4.43% 2.71% -3.00% 0.82
CRITEO SA -47.90% 10.81% 0.96 0.06 20.36% 18.37% 14.42% 1.09
IBOTTA INC -65.07% 12.11% 1.87 0.04 12.94% 19.42% 12.98% 1.17

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
PERION NETWORK LTD 13.11% 2.09% 0.02 4.43% 2.71% -3.00% 0.63
CRITEO SA -47.90% 10.81% 0.06 20.36% 18.37% 14.42% 0.96
HAVAS NV 18.84% 3.10% 0.11 12.19% 10.54% 4.49% 0.98
GRID DYNAMICS HOLDINGS INC -59.40% 3.81% 0.02 3.05% 4.27% 1.83% 1.42
TABOOLA.COM LTD 26.30% 11.39% 0.11 14.63% 16.57% 0.23% 1.47
PUBMATIC INC -39.62% 7.13% 0.07 14.25% 16.99% -2.14% 1.67
DOUBLEVERIFY HOLDINGS INC -40.45% 10.84% 0.08 7.62% 12.09% 2.29% 1.71
WAYSTAR HOLDING CORP -10.76% 5.99% 0.26 4.54% 6.38% 1.98% 1.78
LIVERAMP HOLDINGS INC -3.29% 12.05% 0.03 8.00% 15.45% 2.06% 2.00
FIVE9 INC -50.66% 7.20% 0.45 8.12% 8.20% 1.89% 2.02
Nextgen Software Metatheme Indexes
Index Symbol
BlueStar Artificial Intelligence Index Symbol BAIPR Show more less

The BlueStar® Artificial Intelligence Index (BAI) tracks the performance of the largest and most liquid companies in the global artificial intelligence industry. This is a modified market cap-weighted index, and only includes companies involved in hardware, software, or services related to machine learning or artificial intelligence.

BlueStar Big Data & AI Index Symbol BDAI Show more less

The BlueStar® Big Data & AI Index (BDAI) tracks the performance of companies that are involved in the Big Data and Artificial Intelligence industries.

BlueStar Digital Advertising Index Symbol BADTQ Show more less

The BlueStar® Digital Advertising Index (BADTQ) tracks the performance of companies involved in the digital advertising services and software segments. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from (1) digital advertising-focused data services, (2) digital advertising services, platforms and market places, (3) digital advertisement video production and delivery solutions, and (4) digital marketing software and services including rewards programs.

Regional Technology

Q4 2025
  • Regional Technology declined -3.17% QoQ in Q4 2025, despite generally constructive performance across most regional sleeves. The key drag was China Internet Software (-10.77% QoQ), which more than offset gains in Digital India (+5.04%), Israel Global Technology (+3.05%), Asia Technology (+2.98%), and US Profitable Technology (+0.90%).
  • Single-name dispersion was wide: leaders included Tower Semiconductor (+62.41%), Webit Nano (+60.59%), NVIDIA (+51.07%), and ASE Industrial (+45.18%), while weakness clustered in U.S. enterprise IT and select China/fintech exposures (Intuit -58.19%, Innoviz -58.18%, CDW -55.57%, Kingsoft Cloud -30.70%, Finvolution -29.04%).
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Top 10 Stocks by Quarterly Return
Security Name QTLY
MICRON TECHNOLOGY INC 70.58%
TOWER SEMICONDUCTOR LTD 62.41%
WEEBIT NANO LTD 60.59%
CIENA CORP 60.55%
ENLIGHT RENEWABLE ENERGY LTD 47.74%
NEXT VISION STABILIZED SYSTE 45.49%
ASE INDUSTRIAL HLDG SPON ADR 45.18%
WESTERN DIGITAL CORP 43.49%
TERADYNE INC 40.63%
QUALITAU LTD 39.77%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
INNOVIZ TECHNOLOGIES LTD -58.18%
FOURTH PARADIGM ORD H -36.52%
JF SMARTINVEST HOLDINGS LTD -34.18%
QFIN HOLDINGS INC -33.04%
EAST BUY HOLDING LTD -31.02%
KINGSOFT CLOUD HOLDINGS LTD -30.70%
FINVOLUTION GROUP -29.04%
NETEASE CLOUD MUSIC INC -28.40%
CHINA RUYI HOLDINGS LTD -26.26%
IQIYI INC -25.00%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
JABIL INC 3.45
INTUIT INC 3.28
KEYSIGHT TECHNOLOGIES IN 2.52
INTL BUSINESS MACHINES CORP 2.42
TRAVELSKY TECHNOLOGY LTD - H 1.34
FINVOLUTION GROUP 1.29
MEITUAN 1.22
KINGSOFT CORP LTD 1.22
OSL GROUP LTD 1.21
PING AN HEALTHCARE AND TECHNOL 1.17

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
ARYT INDUSTRIES LTD 476.87% 46.09% 51.43% 69.98% 3.32% 56.51% 1
NVIDIA CORP 38.88% 41.05% 36.75% 41.32% 1.71% 60.23% 2
JF SMARTINVEST HOLDINGS LTD 82.50% 12.69% 11.40% 52.22% 8.58% 76.51% 3
ARISTA NETWORKS INC 18.55% 11.67% 10.06% 47.89% 2.45% 33.98% 5
APPLOVIN CORP-CLASS A 108.08% 60.00% 60.13% 64.55% 1.62% 67.26% 6
CELLEBRITE DI LTD -18.16% 15.53% 14.44% 30.51% 3.22% 29.88% 7
PALANTIR TECHNOLOGIES INC-A 135.03% 57.51% 57.18% 46.04% 0.44% 26.46% 8
MONDAY.COM LTD -37.33% 17.04% 15.97% 28.36% 4.58% 25.24% 9

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
TRIP.COM GROUP LTD 4.73% 12.47% 80.72% 27.87% 8.38% 3
NEXT VISION STABILIZED SYSTE 297.04% 31.14% 71.33% 63.41% 1.68% 4
GEN DIGITAL INC -0.69% 14.93% 74.94% 48.13% 3.36% 5
ARYT INDUSTRIES LTD 476.87% 102.13% 61.28% 55.57% 2.86% 6
NVIDIA CORP 38.88% 65.22% 70.05% 60.22% 2.16% 7
PLUS500 LTD 43.96% 2.13% 97.64% 43.73% 7.62% 10
TAIWAN SEMICONDUCTOR-SP ADR 53.88% 29.36% 58.69% 68.69% 3.23% 13
INDIAN ENERGY EXCHANGE LTD -29.60% 7.42% 87.35% 86.25% 4.10% 14
FIRST SOLAR INC 48.22% 20.07% 40.30% 41.86% 4.99% 15
ADOBE INC -21.29% 10.43% 89.27% 40.07% 4.77% 16

Top 10 Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
PAYONEER GLOBAL INC -44.02% 1.85% 2.69 0.01 7.59% 19.04% 3.23% 0.27
TCL ELECTRONICS HOLDINGS LTD 63.14% 2.79% 1.53 0.08 8.73% 13.01% 8.74% 0.38
LUFAX HOLDING LTD 7.11% 3.84% 0.18 0.23 46.61% 6.01% -29.75% 0.39
LENOVO GROUP LTD -8.32% 1.48% 2.16 0.10 5.01% 6.41% 11.16% 0.44
FIVERR INTERNATIONAL LTD -37.72% 10.03% 1.83 0.41 15.64% 28.52% 3.08% 0.76

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
LUFAX HOLDING LTD 7.11% 3.84% 0.23 46.61% 6.01% -29.75% 0.18
PERION NETWORK LTD 13.11% 2.09% 0.02 4.43% 2.71% -3.00% 0.63
MOBILEYE GLOBAL INC - A -47.59% 5.20% 0.00 28.76% 5.43% -27.87% 0.71
QFIN HOLDINGS INC -49.79% 17.64% 0.11 60.00% 36.50% 35.33% 0.74
TUYA INC 17.88% 7.80% 0.00 7.44% 8.78% 0.89% 1.29
JIO FINANCIAL SERVICES LTD -5.96% 0.59% 0.07 0.48% 0.62% 0.91% 1.37
TABOOLA.COM LTD 26.30% 11.39% 0.11 14.63% 16.57% 0.23% 1.47
UNITED MICROELECTRONICS CORP ADR 21.11% 7.92% 0.16 7.31% 10.47% 6.62% 1.67
SAMSUNG ELEC GDR REGS 127.03% 4.50% 0.03 3.10% 5.78% 4.20% 1.68
INFO EDGE INDIA LTD -27.00% 2.03% 0.00 1.41% 2.47% 0.36% 1.75
Regional Technology Metatheme Indexes
Index Symbol
BlueStar Asia Technology Index Symbol BSEAQ Show more less

The BlueStar® Asia Technology Index (BSEAQ) tracks the performance of the largest and most liquid technology companies listed in Emerging or South East Asian markets. This is a modified market cap-weighted index, and only includes companies that generate at least 50% revenues from one of the following segments: information technology, internet-based services including e-commerce, streaming services, or consumer electronics.

BlueStar China Internet Software Index Symbol BCHNQ Show more less

The BlueStar® China Internet Software Index (BCHNQ) tracks the performance of the largest and most liquid software companies domiciled, incorporated, or headquartered in China or Hong Kong. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from products or services related to the internet software industry, such as e-commerce, cloud-based software, online entertainment, data processing, or home entertainment software.

MVIS Digital India Index Symbol MVDIND Show more less

The MVIS® Digital India Index (MVDIND) tracks the performance of the largest and most liquid digital companies in India. The index is a modified market cap-weighted index and includes pure-play exposure to Indian companies operating in the fields of technology, telecommunications, and internet applications. MVDIND covers at least 95% of the investable universe.

BlueStar Israel Global Technology Index Symbol BGTH Show more less

The BlueStar® Israel Global Technology Index (BGTH) tracks the performance of the largest and most liquid global Israeli technology companies, irrespective of listing venue. The definition of an Israeli company is based on MVIS's proprietary research-driven framework. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from a technology industry, such as information technology, biotechnology, defense and security technology, and clean energy technology.

Thematic Industrials & Infrastructure

Q4 2025
  • The Industrials & Infrastructure metatheme gained +1.53% QoQ in Q4 2025, with performance led by Space Industry (+26.55% QoQ) and follow-through in Robotics (+9.63%) and Europe Infrastructure (+6.94%). More defensive sleeves were positive but muted (US AI & Power Infrastructure +3.18%, Circular Economy +2.46%, Global Environmental Services +0.84%, Defense Industry +0.59%), while Total Security (-3.25%) acted as the key offset.
  • Single-name dispersion stayed wide: top contributors included Fluence Energy (+83.15%), Globalstar (+67.74%), Planet Labs (+51.93%), and Teradyne (+40.63%). On the downside, losses clustered in higher-beta/idiosyncratic names and select defense/industrial software (Nuscale -60.64%, American Superconductor -51.54%, Gogo -45.75%, Varonis -42.93%).
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Top 10 Stocks by Quarterly Return
Security Name QTLY
FLUENCE ENERGY INC 83.15%
GLOBALSTAR INC 67.74%
PLANET LABS PBC 51.93%
NEXT VISION STABILIZED SYSTE 45.49%
YASKAWA ELECTRIC CORP ORD 42.47%
TERADYNE INC 40.63%
LASERTEC CORP 38.07%
FANUC CORP 35.00%
KONECRANES OYJ 33.91%
LAM RESEARCH CORP 27.84%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
NUSCALE POWER CORP -60.64%
AMERICAN SUPERCONDUCTOR CORP -51.54%
GOGO INC -45.75%
VARONIS SYSTEMS INC -42.93%
RENK GROUP AG -38.73%
HENSOLDT AG -33.38%
BENTLEY SYSTEMS INC -25.86%
PARSONS CORP -25.47%
LEONARDO DRS INC -24.91%
AEROVIRONMENT INC -23.18%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
VERISURE 4.01
WHITEFIBER INC 3.09
ONDAS HOLDINGS INC 2.97
KARMAN HOLDINGS INC 1.90
PLANET LABS PBC 1.71
CASELLA WASTE SYSTEMS INC 1.58
NOVA LTD 1.54
YASKAWA ELECTRIC CORP ORD 1.54
BENTLEY SYSTEMS INC 1.47
BIGBEAR.AI HOLDINGS INC 1.45

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
NVIDIA CORP38.88%41.05%36.75%41.32%1.71%60.23%1
CELLEBRITE DI LTD-18.16%15.53%14.44%30.51%3.22%29.88%3
NAPCO SECURITY TECHNOLOGIES IN17.27%1.80%4.12%27.58%3.46%28.39%4
PALANTIR TECHNOLOGIES INC135.03%57.51%57.18%46.04%0.44%26.46%5
SES SA105.10%25.50%22.60%45.78%39.99%11.09%7
ZSCALER INC24.67%28.03%29.95%29.91%2.36%22.61%8
CLEAR SECURE INC -CLASS A31.68%5.06%2.20%33.43%8.47%112.79%11
VARONIS SYSTEMS INC-26.18%27.62%21.17%21.60%3.40%11.78%14
NVIDIA CORP38.88%41.05%36.75%41.32%1.71%60.23%999
PALANTIR TECHNOLOGIES INC135.03%57.51%57.18%46.04%0.44%26.46%999

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
GEN DIGITAL INC-0.69%14.93%74.94%48.13%3.36%1
RAMBUS INC73.84%21.89%75.75%41.78%2.29%8
INFRASTRUTTURE WIRELESS ITALIANE SPA-9.00%5.44%58.94%91.41%4.75%9
CHECK POINT SOFTWARE TECH LTD-0.61%8.45%85.10%35.46%5.09%10
BROADCOM INC49.28%23.87%64.71%54.67%1.38%11
QUALYS INC-5.22%7.25%82.47%35.04%3.88%12
VERISIGN INC17.39%4.45%87.97%69.67%3.54%13
FORTINET INC-15.95%10.06%79.34%33.12%3.06%14
VISTRA CORP17.02%13.52%38.78%44.97%1.72%15
ACCIONA SA93.97%2.92%48.70%13.71%7.61%20

Top 10 Stocks by P:Net Working Capital

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:Net Working Capital
SES SA105.10%8.06%0.830.6039.99%11.09%-2.64%0.41
DUERR AG19.14%4.35%1.450.2712.85%9.88%-1.92%0.53
BOUYGUES SA76.25%5.36%1.350.2319.77%13.26%5.84%0.57
CHINA EVERBRIGHT ENVIRONMENT GROUP LTD24.30%1.38%0.580.528.87%2.06%10.56%0.57
BICO AB-21.00%3.94%0.840.359.91%7.21%-41.61%0.76
SKANSKA AB CLASS B30.22%5.77%1.760.118.99%12.65%5.39%0.82
KONINKLIJKE BAM GROEP NV151.26%4.74%2.730.097.20%15.95%4.85%1.00
BALFOUR BEATTY PLC67.90%10.18%3.320.1917.81%31.88%4.85%1.01
NEXANS36.93%5.86%2.860.268.63%13.13%8.06%1.09

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
CHINA EVERBRIGHT ENVIRONMENT GROUP LTD24.30%1.38%0.528.87%2.06%10.56%0.58
SES SA105.10%8.06%0.6039.99%11.09%-2.64%0.83
BICO AB-21.00%3.94%0.359.91%7.21%-41.61%0.84
VIASAT INC304.94%7.17%0.4822.71%9.22%-11.67%1.03
SMURFIT WESTROCK PLC-28.20%1.82%0.314.11%2.61%3.93%1.10
GB GROUP PLC-18.82%4.76%0.125.95%5.50%1.35%1.11
MATERIALISE NV-21.16%1.21%0.151.80%1.64%1.48%1.11
WIENERBERGER AG29.52%4.67%0.348.72%6.77%5.72%1.20
NGK INSULATORS LTD ORD67.39%6.58%0.228.24%8.04%5.65%1.21
NETSCOUT SYSTEMS INC24.93%11.75%0.0213.09%15.92%4.65%1.24
Thematic Industrials & Infrastructure Metatheme Indexes
Index Symbol
MVIS Global Circular Economy ESG Index Symbol MVCIRC Show more less

The MVIS® Global Circular Economy ESG Index (MVCIRC) tracks the performance of companies contributing to the circular economy. This includes water purification and treatment products/services, waste-to-energy and biofuels, waste management services that include recycling services, metal recycling services. MVCIRC covers at least 90% of the investable universe.

MarketVector Global Defense Industry Index Symbol MVDEF Show more less

The MarketVector™ Global Defense Industry Index tracks the performance of companies that are involved in serving national defense industries.

BlueStar Europe Infrastructure Index Symbol BEURI Show more less

The BlueStar® Europe Infrastructure Index (BEURI) tracks the performance of European companies that are involved in the infrastructure segment in the European market.

MarketVector Global Environmental Services Index Symbol MVEVX Show more less

The MarketVector™ Global Environmental Services Index (MVEVX) is a thematic index tracking the performance of companies involved in a range of environmental services serving various industries.

BlueStar Robotics Index Symbol BRBT Show more less

The BlueStar® Robotics Index (BRBT) tracks the performance of the largest and most liquid companies in the global robotics industry. This is a modified market cap-weighted index and includes companies that generate at least 50% of their revenue from Robots and manufacturing/industrial automation systems, robotic surgical systems, additive manufacturing (3D printing), robotics or manufacturing computer-aided design or other software, semiconductor manufacturing systems, machine vision (at least 25% revenue from industrial or manufacturing segments), Embedded Machine Learning Chips (at least 25% of revenue from industrial segment or other segment where robotics, industrial IoT, or factory automation are use cases).

BlueStar Global Robotics & 3D Printing Index Symbol BRB3D Show more less

The BlueStar® Global Robotics & 3D Printing Index (BRB3D) is a global index that tracks the performance of the largest and most liquid companies involved in the robotics, 3D printing, and computer aided design segments. This is a modified market cap-weighted index, which only includes companies that generate at least 50% of their revenue from robots or manufacturing automation, computer aided design software, or additive manufacturing systems or related materials and software.

MVIS Global Space Industry ESG Index Symbol MVSPC Show more less

The MVIS® Global Space Industry ESG Index (MVSPC) tracks the performance of the largest and most liquid companies in the global space industry. This is a modified market cap-weighted index, and only includes companies that generate a majority of their revenue from products and services related to space exploration, rockets and propulsion systems, satellite equipment and communications solutions, or other satellite equipment related services. MVSPC covers at least 90% of the investable universe and adheres to ESG criteria.

BlueStar Defense & Cyber & Intelligence Index Symbol BTOT Show more less

The BlueStar® Defense & Cyber & Intelligence Index (BTOT) tracks the performance of the largest and most liquid companies in the global defense and cyber securities industries. This is a modified market cap-weighted index, and only includes companies that generate at least 50% of their revenue from products and services relating to defense security, cyber security, and or actionable intelligence.

MarketVector US Listed AI and Power Infrastructure Index Symbol MVAIPO Show more less

The MarketVector™ US Listed AI and Power Index (MVAIPO) is a thematic index tracking the performance of companies contributing to critical electrical grid and artificial intelligence infrastructure through nuclear and other decentralized energy technologies, electric equipment and related engineering and construction services, electrical utilities, data center operations, and AI related computing hardware.

Thematic REITs

Q4 2025
  • REITs 2.0 declined -4.07% QoQ in Q4 2025, with weakness concentrated in the most rate- and cycle-sensitive segments. US Listed Office & Commercial REITs (-12.30% QoQ) and Top 10 US Residential Real Estate (-8.49%) drove the drawdown, while US Mortgage REITs (+2.87%) were a relative bright spot and Data Center & Logistics Real Estate (-0.18%) was essentially flat (but still +9.29% YoY).
  • Dispersion remained high at the single-name level: leaders included Camden Property Trust (+32.57%), Invitation Homes (+32.57%), Outfront Media (+31.55%), and DigitalBridge (+31.11%), while the steepest declines clustered in retail/office and rate-exposed names (Kite Realty -60.64%, Sila Realty -60.64%, Hudson Pacific -43.94%, Alexandria -41.28%).
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Top 10 Stocks by Quarterly Return
Security Name QTLY
OUTFRONT MEDIA INC 31.55%
DIGITALBRIDGE GROUP INC 31.11%
CBL & ASSOCIATES PROPERTIES 20.99%
ARMOUR RESIDENTIAL REIT INC 18.41%
PROLOGIS INC 11.47%
FIRST INDUSTRIAL REALTY TR 11.27%
ANNALY CAPITAL MANAGEMENT INC 10.64%
KITE REALTY GROUP TRUST 7.49%
EASTGROUP PROPERTIES INC 5.25%
Bottom 10 Stocks by Quarterly Return
Security Name QTLY
HUDSON PACIFIC PROPERTIES INC -43.94%
COGENT COMMUNICATIONS HOLDINGS INC -43.78%
READY CAPITAL CORP -43.67%
ALEXANDRIA REAL ESTATE EQUITIES INC -41.28%
ARBOR REALTY TRUST INC -36.45%
BRANDYWINE REALTY TRUST -29.98%
DOUGLAS EMMETT INC -29.42%
VICI PROPERTIES INC -13.77%
Top 10 Stocks by Unusual Volume
Security Name 3m/12m Vol
EQUITY LIFESTYLE PROPERTIES 4.01
EASTGROUP PROPERTIES INC 1.77
INVITATION HOMES INC 1.54
VICI PROPERTIES INC 1.51
INVITATION HOMES INC 1.30
EQUITY LIFESTYLE PROPERTIES 1.18
REXFORD INDUSTRIAL REALTY IN 1.13
VICI PROPERTIES INC 1.08
EASTGROUP PROPERTIES INC 0.97

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Operating CF Growth FCF Growth FCF Margin FCF Yield FCF:IC Overall Rank
CARETRUST REIT INC33.68%42.59%41.58%78.04%4.14%6.84%1
EASTERLY GOVERNMENT PROPERTIES INC-25.39%46.85%46.85%73.88%24.75%8.59%2
MONTEA NV31.16%27.00%27.04%77.90%6.38%3.64%3
VORNADO REALTY TRUST-20.84%153.96%153.96%75.26%21.37%9.77%11
AGREE REALTY CORP2.24%14.24%14.24%69.46%5.80%5.62%12
FOUR CORNERS PROPERTY TRUST-15.03%23.29%23.29%61.94%7.26%6.45%13
NATL HEALTH INVESTORS INC10.20%9.72%10.45%59.29%5.84%8.80%16
LONDONMETRIC PROPERTY PLC13.12%86.71%97.74%59.62%5.55%3.54%18
CURBLINE PROPERTIES CORP-0.04%135.41%224.71%72.03%4.84%4.98%21
TANGER FACTORY OUTLET CENTER-2.23%11.25%36.46%37.31%5.46%8.71%27

Top 10 Stocks by Average Category Rank

Security Name 1 Yr. Price Return Revenue Growth Gross Margin EBITDA Margin Earnings Yield Overall Rank
ELLINGTON FINANCIAL INC12.05%42.57%84.11%76.60%9.71%4
PENNYMAC MORTGAGE INVESTMENT-0.32%13.66%90.40%75.00%7.31%5
TRITAX BIG BOX REIT PLC23.18%11.45%85.32%79.68%10.90%6
ESSENTIAL PROPERTIES REALTY TRUST INC-5.18%18.58%71.54%94.02%4.19%7
MONTEA NV31.16%10.34%86.75%79.47%8.66%9
WAREHOUSES DE PAUW SCA32.04%13.84%83.64%81.51%7.02%10
RITHM CAPITAL CORP0.65%7.90%92.14%55.46%13.39%11
CARETRUST REIT INC33.68%44.61%78.44%85.77%3.77%12
GRANITE REAL ESTATE INVESTMENT TRUST22.89%4.14%82.00%77.80%5.64%13
GETTY REALTY CORP-9.16%5.31%66.82%81.66%4.68%16

Top 10 Stocks by Earnings Yield

Security Name 1 Yr. Price Return ROA P:B Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield
UNITI GROUP INC-23.16%-0.67%2.410.81-4.83%-0.78%112.03%
RITHM CAPITAL CORP0.65%-4.17%0.850.74-32.54%-4.77%13.39%
VORNADO REALTY TRUST-20.84%8.67%1.310.5021.37%9.77%12.62%
DYNEX CAPITAL INC10.75%0.86%1.100.835.91%6.21%12.53%
FARMLAND PARTNERS INC-17.60%2.20%0.930.233.90%2.62%12.49%
ANNALY CAPITAL MANAGEMENT INC22.19%2.27%1.160.8518.71%6.47%10.13%
VICI PROPERTIES INC-3.73%5.29%1.090.388.19%5.43%9.34%
SUN COMMUNITIES INC0.76%6.47%2.190.345.41%7.33%6.46%
TERRENO REALTY CORP-0.73%4.57%1.510.224.01%4.73%5.37%
REXFORD INDUSTRIAL REALTY INC0.16%1.61%1.060.262.29%1.71%3.67%

Top 10 Stocks by P:B Ratio

Security Name 1 Yr. Price Return ROA Total Debt:Total Assets FCF Yield FCF:IC Earnings Yield P:B
APOLLO COMMERCIAL REAL ESTATE 11.78% 0.59% 0.79 4.17% 0.65% 9.08% 0.72
EASTERLY GOVERNMENT PROPERTIES INC -25.39% 7.15% 0.49 24.75% 8.59% 2.37% 0.73
DREAM INDUSTRIAL REAL ESTATE 11.76% 1.96% 0.37 4.54% 2.27% 6.68% 0.78
SEGRO PLC 10.34% 1.68% 0.27 3.13% 1.84% 6.16% 0.79
TRITAX BIG BOX REIT PLC 23.18% 1.90% 0.31 3.29% 1.95% 10.90% 0.80
KILROY REALTY CORP -7.61% 5.14% 0.43 12.79% 5.55% 7.26% 0.81
GRANITE REAL ESTATE INVESTMENT TRUST 22.89% 3.87% 0.33 7.41% 4.33% 5.64% 0.91
COUSINS PROPERTIES INC -15.86% 1.88% 0.39 3.87% 2.04% 1.35% 0.91
FARMLAND PARTNERS INC -17.60% 2.20% 0.23 3.90% 2.62% 12.49% 0.93
MONTEA NV 31.16% 3.50% 0.39 6.38% 3.64% 8.66% 0.94
Thematic REITs Metatheme Indexes
Index Symbol
BlueStar Data Center and Logistics Real Estate Index Symbol BDLRT Show more less

The BlueStar Data Center and Logistics Real Estate Index (BDLRT) tracks the performance of the largest and most liquid companies in the real estate and data industries. This is a modified market cap-weighted index, and only includes real estate companies that generate at least 50% of their revenue from ownership or operation activities relating to data centers and or logistics and warehouses, such as data center real estate ownership or operations, or logistics or industrial warehouse real estate ownership or operations.

iREIT-MarketVector Quality REIT Index Symbol IRET Show more less

iREIT®-MarketVector™ Quality REIT Index provides exposure to high quality US listed common and preferred equity securities of REITs while ensuring sector diversification.

BlueStar Top 10 US Residential Real Estate Index Symbol BURRT Show more less

The BlueStar® Top 10 US Residential Real Estate Index (BURRT) tracks the performance of the 10 largest and most liquid US exchange-listed residential real estate companies. This is an equally weighted index, and only includes companies that are incorporated in the United States, listed on a US exchange and denominated in USD, and generate at least 50% of its revenue or real estate asset value from residential real estate located in the US.

Armada US Listed Durable REIT Dividend Index Symbol DURE Show more less

The Armada US Listed Durable REIT Dividend Index (DURE) is a thematic index tracking the performance of US-listed Real Estate Investment Trusts (REITs) that pass quality and dividend screens.

MarketVector US Listed Office and Commercial REITs Index Symbol MVORT Show more less

The MarketVector™ US Listed Office and Commercial REITs Index (MVORT) tracks the performance of the 25 largest and most liquid US exchange-listed REITs in the office, industrial, or retail real estate sectors.

MVIS US Mortgage REITs Index Symbol MVMORT Show more less

The MVIS® US Mortgage REITS Index (MVMORT) tracks the performance of the largest and more liquid companies in the US Mortgage REITS Industry. This is a modified market cap-weighted index, and only includes REITs that derive at least 50% of their revenues from Mortgage, such as REITs that are primarily engaged in the purchase or service of commercial or residential mortgage loans or mortgage related securities. MVMORT covers at least 90% of the investable universe.

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