Additionally, for those looking for specific “tech” exposure via a Nasdaq 100 type product for benchmark purposes, First Trust Nasdaq 100 Technology Sector (NasdaqGM: QTEC) is also available, and like QQEW, routinely rebalances the portfolio in efforts to keep the index equal weighted. Unlike the Nasdaq 100 index, which is heavy technology but not exclusively devoted to that sector, QTEC only owns equities that are in the technology sector.

As one might expect, both of these products have notably lagged QQQ itself year to date, largely because of the under-exposure to AAPL, as QQEW is only up 0.08% and QTEC down 0.22%.

In the trailing one year period, QQQ is up 9.66%, while QQEW has returned 2.43% and QTEC has lost 2.25%. However, with the recent shakeout that occurred just yesterday in the marketplace and with portfolio managers likely starting to reshuffle holdings headed into the end of the first quarter, perhaps those looking to maintain exposure to Nasdaq 100 stocks and and diversify away from AAPL to some degree may find appeal in the aforementioned funds.

First Trust Nasdaq 100 Equal Weighted Index Fund

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