Board/The productivity handoff/Category

Enterprise software ETFs

Enterprise software ETFs are one of six categories inside the productivity handoff, one of 22 market stories StoryVector measures. 15 US ETFs sit in it, with $40.9 billion between them, 69.1% of the narrative’s capital. The largest, CIBR, holds 42.3% of the category.

Part ofThe productivity handoffHOT level 58.4, 2 of 22Open the narrative →
15ETFs in this category
$40.9 bncapital
69.1%of the narrative’s capital
CIBRlargest ETF, 42.3% of the category
What decides it

Whether the work a seat is billed for still needs a person holding that seat

The outside variable that changes how this category compares with its alternative. A mechanism, never a direction.

Where it sits in the narrative

The productivity handoff divides into six categories by written rules. This one holds 69.1% of its capital.

Enterprise software ETFs69.1%15 ETFs
Internet and online retail9.9%4 ETFs
Levered and inverse wrappers9.5%89 ETFs
Cloud infrastructure7.0%5 ETFs
Everything else4.5%9 ETFs
AI lab vehicles0.1%4 ETFs

The six largest enterprise software ETFs

Each ETF’s share of this category’s capital, and its size.

CIBR42.3%$17.3 bn
IGV34.0%$13.9 bn
HACK8.1%$3.3 bn
BUG5.1%$2.1 bn
IGPT3.5%$1.4 bn
IHAK2.8%$1.2 bn

Companies shared, in the ten largest positions

How many of the same companies two ETFs hold among their ten largest positions. Same category, very different portfolios.

CIBRIGVHACKBUGIGPT
IGV3
HACK83
BUG636
IGPT0000
IHAK00000

Ten largest positions only. The two biggest, CIBR and IGV, share three companies there. CIBR and HACK share eight, the most of any pair. The category is the same either way.

Published as

Posted on LinkedIn on September 22, 2026. See the post ↗

First slide: If AI does the work, who pays for the seat?Carousel · slides, PDFIf AI does the work, who pays for the seat?Software billed per person.Open the slides →
Clip · 13 secondsThe same finding, in motionPlays here.

Common questions

Which are the largest enterprise software ETFs?

By share of the category’s capital: CIBR (42.3%), IGV (34.0%) and HACK (8.1%).

How much is invested in enterprise software ETFs?

$40.9 billion across 15 US ETFs, 69.1% of the capital in the productivity handoff.

What decides how enterprise software ETFs compare with the alternative?

Whether the work a seat is billed for still needs a person holding that seat. That is the outside variable that changes how the category compares with its alternative: a mechanism, not a forecast.

Do the largest enterprise software ETFs hold the same companies?

Ten largest positions only. The two biggest, CIBR and IGV, share three companies there. CIBR and HACK share eight, the most of any pair. The category is the same either way.

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Every figure on this page is this week’s, from holdings fetched Oct 1. Capital here is each ETF’s full assets, counted in the one narrative it carries as its main one; ownership on the narrative page is exposure weighted, so the two are never added. The level belongs to the narrative, because attention is scored per narrative and not per category. ETFs are listed by measured share; placement cannot be bought. Nothing here is investment advice. How the measurement works →