Theme
Software '26: Consumption-led Pricing☆

SNOW+41.90%12.0%

DDOG+81.10%10.0%

MDB+8.78%9.0%

NET+55.24%8.0%

SHOP+1.12%8.0%

TOST-16.77%8.0%

TWLO+178.44%8.0%

DT+18.03%7.0%

ESTC+6.59%6.0%

FROG+100.46%5.0%

KVYO-39.34%5.0%

AMPL+38.55%4.0%

BRZE-6.20%4.0%

DOCN+265.02%3.0%

FSLY+190.66%3.0%
As of Oct 2, 2026, 9:55 PM ET
Software '26: Consumption-led Pricing Constituents
Snowflake Inc.SNOW | 12.0% | -0.28% | 1.41% | 11.61% | -0.19% | 55.60% | 102.68% | 121.78% | 41.90% | 208.72% | 12.29% | $118.20B |
Datadog, Inc.DDOG | 10.0% | 0.27% | 10.92% | 31.20% | -0.71% | 101.85% | 145.18% | 169.88% | 81.10% | 135.87% | 91.60% | $98.68B |
MongoDB, Inc.MDB | 9.0% | 1.77% | -17.01% | -5.45% | 0.91% | -15.43% | 8.06% | 96.98% | 8.78% | 41.49% | -24.56% | $28.79B |
Cloudflare, Inc.NET | 8.0% | -0.58% | -1.25% | 27.82% | -0.68% | 76.82% | 102.45% | 191.60% | 55.24% | 339.47% | 203.59% | $123.90B |
Shopify Inc.SHOP | 8.0% | 1.54% | 3.56% | 7.85% | 2.62% | -4.95% | 26.73% | 52.01% | 1.12% | 93.74% | 12.08% | $196.45B |
Toast, Inc.TOST | 8.0% | 1.92% | 1.42% | -11.66% | 2.87% | -15.32% | 10.11% | -15.72% | -16.77% | 6.85% | -44.37% | $17.28B |
Twilio Inc.TWLO | 8.0% | -2.22% | 3.16% | 29.45% | -2.57% | 106.36% | 142.67% | 192.48% | 178.44% | 344.51% | -9.17% | $44.71B |
Dynatrace, Inc.DT | 7.0% | 0.14% | 2.93% | 15.74% | -0.65% | 35.84% | 63.91% | 21.72% | 18.03% | 12.41% | -18.52% | $17.29B |
Elastic N.V.ESTC | 6.0% | 1.77% | 4.63% | 4.21% | 1.13% | 23.74% | 79.28% | 2.14% | 6.59% | 23.28% | -37.81% | $9.77B |
JFrog Ltd.FROG | 5.0% | -2.14% | 7.15% | 5.07% | -1.24% | 54.31% | 140.05% | 190.48% | 100.46% | 246.77% | 188.43% | $11.57B |
Klaviyo, Inc.KVYO | 5.0% | -2.96% | -1.01% | -18.64% | -2.96% | -51.62% | -9.76% | -49.92% | -39.34% | -54.90% | -52.05% | $4.70B |
Amplitude, Inc.AMPL | 4.0% | 1.54% | 7.76% | 6.55% | -0.98% | 22.28% | 93.97% | 38.55% | 38.55% | 69.23% | -73.36% | $1.93B |
Braze, Inc.BRZE | 4.0% | -0.90% | 1.96% | -21.01% | 1.44% | -24.12% | 37.02% | -28.32% | -6.20% | -16.87% | -72.78% | $2.86B |
DigitalOcean Holdings, Inc.DOCN | 3.0% | 0.19% | -3.22% | 34.74% | 1.07% | 193.64% | 152.05% | 301.53% | 265.02% | 254.34% | 72.78% | $16.38B |
Fastly, Inc.FSLY | 3.0% | -2.20% | 0.86% | 28.76% | -0.32% | 158.40% | 37.58% | 297.96% | 190.66% | 250.68% | -36.37% | $4.04B |
| Theme return | — | 0.03% | 1.39% | 10.19% | 0.06% | 45.01% | 83.27% | 104.75% | 55.02% | 138.23% | 58.84% | — |
| Average | 6.7% | -0.14% | 1.55% | 9.75% | -0.02% | 47.83% | 75.47% | 105.54% | 61.57% | 130.37% | 14.12% | $46.44B |
| Median | 7.0% | 0.14% | 1.96% | 7.85% | -0.32% | 35.84% | 79.28% | 96.98% | 38.55% | 93.74% | -18.52% | $17.28B |
| Std Dev | 2.6% | 1.61% | 6.10% | 17.72% | 1.63% | 67.33% | 53.38% | 110.74% | 84.40% | 128.78% | 84.49% | $57.32B |
| Min | 3.0% | -2.96% | -17.01% | -21.01% | -2.96% | -51.62% | -9.76% | -49.92% | -39.34% | -54.90% | -73.36% | $1.93B |
| Max | 12.0% | 1.92% | 10.92% | 34.74% | 2.87% | 193.64% | 152.05% | 301.53% | 265.02% | 344.51% | 203.59% | $196.45B |
| % Positive Tickers | 53.33% | 73.33% | 73.33% | 40.00% | 66.67% | 93.33% | 80.00% | 80.00% | 86.67% | 40.00% |