Tag Archives: thematics
Unicorns at the Gate: How Mega IPOs Could Reshape Global and Thematic Indices
Big unicorns are outside the door waiting to join the public markets party. Recently, it has been reported that SpaceX,1 OpenAI2 and Anthropic3 are preparing for their initial public offering (IPO) in the near future. This has drawn attention not just for the size of these firms but for the impact they would have on…
The Drone Identity: Beyond Defense
The idea of unmanned flying machines has existed in human imagination for millennia. However, drones as we know them today only became a practical reality in the late 20th century with systems such as the Predator drone that was developed in the 1990s. Drone technology has evolved rapidly from its early military origins. Currently, drones…
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How AI Is Transforming Index Construction: Introducing the S&P 3AI Indices
The recent advent of artificial intelligence (AI) is transforming daily life from streamlining routine tasks to augmenting productivity and facilitating data-driven decisions. Within indexing, it is a natural progression to explore how these technologies can enhance index construction within a human-validated and governed framework. Integrating machine learning, a subset of AI, systematically enables the analysis…
All That Glitters Isn’t Just Gold: 2025 Thematic Performance in Review
2025 Market Performance Markets delivered a strong year in 2025 across most parts of the globe. The S&P World Index was up 23%, while the S&P 500® was up 18% and posted 39 record closing highs during the year, despite persistent geopolitical, tariff and inflation pressure. Sector leadership in the U.S. was taken by Communication…
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Houston, We Have an Index: Exploring the S&P Kensho Global Space Index
In 2025, the S&P Kensho Global Space Index ended 2025 up 57.79%, outperforming both the S&P 500® (up 17.66%) and the S&P Global BMI (up 21.75%). The strong performance was not unique to last year; it has outperformed over the past four years, and it outperformed in annualized terms over the past three and five…
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Index-Based Investing in Islamic Finance: 2025 Review
The Islamic asset management industry has been experiencing growth in index-based investing, and these trends have accelerated in 2025. As of October 2025, assets under management (AUM) in exchange-traded funds (ETFs) linked to Islamic indices reached USD 7.3 billion, a 44% YTD increase (see Exhibit 1)—outpacing the 30% growth observed in the global ETF market.1…
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Powering the Future amid the AI Surge
Reports indicate that AI is a major force driving markets, with nearly 50% of S&P 500® earnings estimated to be directly or indirectly linked to AI.1 The narrative surrounding AI earnings and spending is largely focused on the infrastructure development necessary to support the anticipated productivity boom, particularly in data centers and the power infrastructure….
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Technology Breakthroughs Meet Industrial Metals Strength
September’s S&P Thematics Dashboard was led by strong performance across technology- and industrial metals-linked themes. Quantum Technology surged 38%, while precious and industrial metals rallied sharply amid macroeconomic signals. In contrast, different discretionary spending- and resources-related themes softened. Quantum and Data Infrastructure Lead Quantum Technology was the month’s standout. IBM and HSBC claimed the execution…
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Building the Future: How China Leverages Energy and Infrastructure to Supercharge Artificial Intelligence
China’s vast development of renewable energy and infrastructure is more than just an engineering feat. It is the foundation for the age of artificial intelligence. From solar farms to high-speed rail and 5G networks, these investments provide the power and connectivity needed to operate AI at scale. The impact of these advancements is reflected by…
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Carbon Credits: Playing the Diversification Game
As financial markets respond to the ongoing energy transition, market participants are exploring ways to address the related risks and opportunities. Indices can provide insights to these factors. In this context, the S&P Global Carbon Credit Index, which turned six years old on July 25, 2025, emerges as a potential tool for enhancing diversification and…
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