There are more and more thematic ASX ETFs becoming available to investors.
When these targeted themes rally, investors can capture market-beating returns.
However, on the flip side, when these sectors face headwinds, losses can also be amplified.
Due to geopolitical tension, rising interest rates, and other economic factors, sectors like healthcare and technology have been heavily sold off in 2026.
There are several ASX ETFs that target these sectors.
After falling significantly this year, let's look at funds that could be undervalued right now.
Image source: Getty Images
Morningstar Global Technology ETF (ASX: TECH)
This ASX ETF seeks to invest in companies well-positioned to benefit from increased technology adoption.
This includes companies whose principal business is in offering computing Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), and/or cloud and edge computing infrastructure and hardware.
At the time of writing, it includes 38 holdings, with a 60% exposure to US-based companies.
So far in 2026, it has fallen 14%.
However, it appears it has slowly started to turn the corner, recovering 8% during April.
It may suit investors who are confident of a global tech rebound in the back half of 2026.
BetaShares Global Cybersecurity ETF (ASX: HACK)
It has been a similar story in 2026 for this ASX ETF.
The fund aims to track the performance of an index (before fees and expenses) that provides exposure to the leading companies in the global cybersecurity sector.
It is down 16% so far in 2026, however has also rebounded in April, rising 5% just this week.
At the time of writing, the fund includes 42 holdings, with 90% of its weighting towards US-based companies.
Betashares S&P ASX Australian Technology ETF (ASX: ATEC)
Moving towards Australian technology, this ASX ETF is surging today, up 4%.
It still has a long way to go to recover the losses of 2026, as the fund remains down 16% since the start of the year.
As the name suggests, it provides exposure to leading ASX-listed companies across a range of tech-related market segments, including information technology, consumer electronics, online retail, and medical technology.
Vaneck Vectors Global Health Leaders ETF (ASX: HLTH)
Moving to healthcare, this ASX ETF focuses on the largest international companies from the global healthcare sector.
It includes 50 underlying holdings with a 60% weighting towards US-based companies.
In 2026, it has fallen almost 7%, but has also begun to rebound from late March.
