4. Evolve Cyber Security Index Fund – Hedged Units (TSE:CYBR.TO)
5-Year Share Price Performance as of March 21: 72.20%
Evolve Cyber Security Index Fund – Hedged Units (TSE:CYBR.TO) ranks 4th on our list of the best cybersecurity ETFs. Evolve Cyber Security Index Fund – Hedged Units (TSE:CYBR.TO) aims to mirror the performance of the Solactive Global Cyber Security Index Canadian Dollar Hedged, investing mainly in stocks of companies engaged in cybersecurity through hardware and software development. As of March 20, 2024, the ETF’s portfolio comprises 34 stocks, with assets under management totaling $182.707 million. The management fee stands at 0.40%.
Booz Allen Hamilton Holding Corporation (NYSE:BAH) is one of the top holdings of Evolve Cyber Security Index Fund – Hedged Units (TSE:CYBR.TO). The company provides management and technology consulting, analytics, engineering, digital solutions, mission operations, and cyber services globally. On January 30, Booz Allen Hamilton Holding Corporation (NYSE:BAH) declared a $0.51 per share quarterly dividend, an 8.5% increase from its prior dividend of $0.47. The dividend was distributed on March 1.
According to Insider Monkey’s fourth quarter database, 30 hedge funds were long Booz Allen Hamilton Holding Corporation (NYSE:BAH), compared to 34 funds in the last quarter.
Baron Asset Fund made the following comment about Booz Allen Hamilton Holding Corporation (NYSE:BAH) in its second quarter 2023 investor letter:
“We re-initiated a position in Booz Allen Hamilton Holding Corporation (NYSE:BAH), the premier provider of outsourced civil and military consulting services to the federal government. We believe that Booz’s consultants (65% of whom possess security clearances) are best in class at tackling sensitive and high priority cybersecurity, intelligence, defense, and spending efficiency projects for various government agencies. Under longtime CEO Horacio Rozanski, the company has thoughtfully invested in AI, cybersecurity, software, and other advanced technologies. It had remained ahead of its peers and is an important partner providing the government mission-critical and highly technical solutions. In addition, Booz is the largest single provider of AI services to the federal government, which we believe will be a source of ongoing, outsized growth.
We believe the ongoing U.S. military rivalry with Russia and China will provide a tailwind for increased defense budget growth and enhance the demand for Booz’s services. Booz expects to continue outgrowing its consulting peers by 2% to 4% annually, translating to mid- to high single-digit organic revenue growth that will be enhanced by targeted acquisitions. We expect improved pricing realizations and gradually increased margins as well.”
