Today, QQQ also sports a 20.2% weight to consumer discretionary names, compared almost zilch in 2000. That does include pricey high-fliers  like Amazon (NasdaqGM: AMZN) and Priceline (NasdaqGM: PCLN), but more prosaic businesses such as Starbucks (NasdaqGM: SBUX) and DirecTV (NasdaqGM: DTV) are also found among QQQ’s discretionary names. [The Changing Face of QQQ]

QQQ also features a 14.7% allocation to health care, giving the fund some leverage to the seemingly indomitable (and stretched valuations) in the biotech sector. [Health Care ETFs Face Off Against Frothy Valuations]

Notably, QQQ’s strong February performance comes just ahead of March, a month is often kind to the ETF. With March right around the corner, investors may want to consider because the odds favor a decent performance by the ETF in the third month of the year. In the past 15 Marches, QQQ has risen 11 times, good for a 73% rate of success, according to PastStat.com.

PowerShares QQQ

Tom Lydon’s clients own shares of Apple, Amazon, Google, Microsoft and QQQ.