State Street Global Advisors has launched the SPDR FactSet Innovative Technology ETF (XITK), part of a small but growing trend of funds seeking to profit from cutting edge and disruptive business models.

The XITK fund mimics the equal-weighted FactSet Innovative Technology Index, which employs a proprietary, revenue-mapping sector classification system called FactSet Revere Hierarchy that puts companies into specific segments of the tech sector and electronic media sub-sector. According to fund literature, this approach from FactSet, a financial information and analytics company, aims to identify new and differentiated markets, technologies and products.

The index went live last September and has 85 holdings. As of January 15, the fund’s top sectors were consumer print and electronic media (21 percent), industry-specific software (17 percent), IT infrastructure software (14 percent), semiconductors (13 percent) and enterprise management software (13 percent).

According to State Street, the ETF seeks exposure to technology-related companies with high revenue growth, including those with disruptive business models. That means a dose of companies in areas such as mobile devices, cyber security and cloud computing.

The fund’s top five holdings are Rovi Corp. (a digital entertainment technology company), Super Micro Computer Inc. (a server technology company), Quality Systems Inc. (a maker of automated healthcare information systems), CyberArk Software Ltd. (an Israel-based security company), and WebMD Health Corp. (a provider of health information services).

XITK’s expense ratio is 0.45 percent.

A number of funds in recent years have launched with portfolios designed to zero in on companies focused on leading edge technologies and/or disruptive innovation.

One such fund, the Ark Industrial Innovation ETF (ARKQ), is an actively managed product targeting various technology sub-sectors including robotics, autonomous vehicles and innovative materials. The fund, which had largely been treading water since its launch in September 2014, has––like just about every publicly traded equity––been thumped so far in 2015 and it hit a 52-week low on Friday.

ETFs such as ARKQ and XITK are intriguing, but should be used as satellite holdings as part of a broader exposure to technology.