Thematic Investing: Thematically Wrong?

From blogs.cfainstitute.org

Thematic investing is like venture capital for asset managers. For every 10 products launched, most fail to generate interest from investors, a couple break even from a cost perspective, and maybe one becomes the star fund that raises billions of assets under management and makes it all worthwhile. For example, the first cybersecurity-focused exchange-traded fund (ETF) — HACK — paid off for its manager when governments and corporations around the globe were attacked by hackers in June 2017. Themes are typically about change: perhaps a country evolving from a frontier to an emerging market, a sector undergoing a ... (full story)