BetaShares Global Cybersecurity ETF (HACK) — Review & Analysis

HACK is the largest cybersecurity ETF on the ASX with AUM of $1.46 billion as at May 2026 — 100x larger than its only direct competitor BUGG (Global X Cybersecurity, $13.01M). The fund tracks the Nasdaq Consumer Technology Association Cybersecurity Index, holding global pure-play cybersecurity companies including Palo Alto Networks, CrowdStrike, Fortinet, Zscaler, Cisco, Check Point and others. The 0.67% p.a. management fee is 20bp above BUGG's 0.47% — reflecting HACK's scale and longer track record (HACK listed September 2016 vs BUGG September 2023). Compare HACK across the tech cohort on our tech ETF page or cybersecurity themes, or use the Compare ETFs tool to put HACK vs BUGG side-by-side.

The cybersecurity thesis is structural rather than cyclical. Enterprise security spend has grown at double-digit annual rates for over a decade, accelerated by ransomware, cloud migration, AI-driven attacks and government cyber-warfare. HACK captures the listed pure-plays in this segment — companies whose revenues are predominantly cybersecurity rather than broader software or hardware. The top 10 holdings typically make up 50-60% of the portfolio.

The HACK vs BUGG decision comes down to fee versus scale. BUGG's 0.47% MER undercuts HACK by 20bp annually — a meaningful long-term saving — but HACK's $1.46B AUM provides tighter bid-ask spreads at execution and the longer 9-year track record. HACK's broader Nasdaq CTA index also gives slightly different holdings exposure than BUGG's index, though there's significant overlap on the largest cyber names like Palo Alto Networks and CrowdStrike.

HACK is unhedged. The cybersecurity sub-sector has historically been more resilient during tech drawdowns than broader software, because enterprise security budgets are typically non-discretionary. Our every theme ETF on the ASX guide covers HACK and BUGG alongside other specialist tech themes.