Gina Sanchez, founder of Chantico Global, told CNBC that biotech names could continue to the upside this year, but that the group does not account for enough of the NASDAQ to drive a run to 5,000. Health care stocks account for almost 13.6% of QQQ’s weight, but of QQQ’s 14 health care stocks, just nine are pure play biotechs. [Nasdaq Evolution Could Encourage New Highs]

Additionally, counting on the NASDAQ Biotech Index for another big gain in 2014 is a tricky call to make. That is the underlying index for the iShares Nasdaq Biotechnology ETF (NasdaqGS: IBB). IBB has ranked among the top-10 non-leveraged sector ETFs for three consecutive years. Look back over 10 years of data, no ETF has managed to crack the top-10 in four straight years.

QQQ has $45.3 billion in assets under management, making it the fifth-largest U.S. ETF. The fund hauled in almost $3.2 billion last year, good for second among all PowerShares ETFs.

PowerShares QQQ