Thanks to its lower exposure level to Apple, QQEW has been able to outperform QQQ in the short term as Apple has fallen from its lofty heights. “Still, the product is extremely heavy in technology as this segment accounts for roughly 50% of the total exposure of the fund,” Zacks says.
The equal-weighted Nasdaq-100 ETF continues to lead QQQ with a break above its autumn highs, according to StockCharts.
First Trust NASDAQ-100 Equal Weighted Index Fund
Full disclosure: Tom Lydon’s clients own QQQ.