Kensho New Economies ETF Rises 2.3% on Ondas Contract and Demining Tender
SPDR S&P Kensho New Economies Composite ETF rose 2.30% Friday as Ondas Inc shares jumped 7.53% after a multi-million-dollar Iron Drone Raider contract. Ondas’s smart demining subsidiary secured a $30 million land-clearance tender along the Israel-Syria border, reinforcing ETF exposure to defense technology growth.
1. ETF Performance
SPDR S&P Kensho New Economies Composite ETF climbed 2.30% on Friday, outperforming the Communication Services sector’s 1.59% decline over the past 30 days. The ETF’s relative strength improved as core holdings delivered outsized gains in defense and technology segments.
2. Portfolio Drivers
The rally was led by Ondas Inc, whose shares surged 7.53% after securing a multi-million-dollar Iron Drone Raider order from a European NATO country. Ondas’s smart demining subsidiary also won a $30 million land-clearance tender along the Israel-Syria border, highlighting growing demand for autonomous security solutions.