The collapse of cloud-based stocks so far this year has less to do with that specific group losing its market cachet than an aversion to highly valued technology stocks of any kind, said Andrew Chanin, CEO of PureFunds.

"It was mainly a more broad-based technology selloff that did not leave many pockets of technology unharmed," said Chanin.

The selloff in technology has also dragged down shares of Chanin's PureFunds ISE Cyber Security ETF  (HACK) by 21.5% so far in 2016. The $775 million ETF's holdings include CyberArk Software  (CYBR) , Symantec  (SYMC) and AVG Technologies  (AVG) . Chanin said the cyber space has more defensive qualities than other areas in technology which will help it rebound.

"Regardless of whether your company is making more money this year or losing money, you can still potentially be affected by a cyber-threat," said Chanin. "You have to spend on cyber security regardless of the business cycle."

Chanin's PureFunds ISE Mobile Payments ETF  (IPAY) holds stocks including Visa  (V) , PayPal  (PYPL) and MasterCard  (MA) . It has dropped over 12% so far this year, yet like HACK, Chanin believes the secular shift to a cashless society will continue to backstop this sector.

"Governments and central banks from around the world are actually saying they want to ban cash possibly," said Chanin. "Denmark and Norway have said they want to ban cash completely by 2020, so in order for them to pull off something like that, they would have to rely on mobile payment solutions."

Finally, the term "big data" no longer carries the same buzz it once did for investors. Nevertheless, Chanin said his PureFunds ISE Big Data ETF  (BDAT) , down 23% thus far in 2016, should still find a place in investors' portfolios because eventually the big data players will find new ways to monetize the vast amounts of data they are storing. Holdings include Fair Isaac  (FICO) Nice-Systems  (NICE) and Facebook  (FB) .

"One of the most interesting things Facebook has done, because they have so much data especially in photos, is to develop one of the greatest facial recognition technologies out there," said Chanin.

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