Specifically, we are referencing the equal-weighted QTEC (First Trust NASDAQ-100 Technology Sector, Expense Ratio 0.60%) which isolates Technology specific companies from the broader NASDAQ-100 index (as tracked by QQQ) as well as QQQE (Direxion NASDAQ-100 Equal Weighted, Expense Ratio 0.35%) which is of a broader scope, including the entire NASDAQ-100 but in an equal weighted fashion. Both funds are still notionally small compared to what we believe is their potential, with $330 million and $90 million in AUM respectively.
PowerShares QQQ
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