The main NASDAQ indices are
- the Composite Index, a market capitalization-weighted index designed to represent the performance of NASDAQ stocks, tracked by
- the 100 Index, made up of 101 equity securities issued by 100 of the largest non-financial companies listed on NASDAQ, with modified capitalization-weights,capping the influence of the largest components, tracked by
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Equal weights ETFs, tracking the constituents of the NASDAQ-100 index (but not the index itself), reset the weights of the large companies which skew the market cap driven index - the top 8 companies, Apple, Microsoft, Amazon, Nvidia, Meta, Tesla, Google (included with 2 tickers) and Broadcom have a cumulative market weight of approx. 47% of total
- Direxion NASDAQ-100® Equal Weighted Index Shares
- First Trust Nasdaq-100 Equal Weighted Index Fund
Filters by sector - and by size - provide further insights in the categories powering the Nasdaq indices
- First Trust NASDAQ-100 Technology Sector Index Fund
- equal-weighted with a narrow focus of only 40 Technology constituents, which highlight their importance in the NASDAQ index but not in the Technology sector at large - First Trust NASDAQ-100 Ex-Technology Sector Index Fund
- complements QTEC with an equal-weighted portfolio of non-technology companies from the NASDAQ 100 - Invesco NASDAQ Internet ETF
is not limited to NASDAQ listings, including not only technology firms (software and IT) but an array of consumer discretionary firms doing business over the Internet - Invesco Nasdaq Biotechnology ETF
measure the performance of NASDAQ-listed biotechnology or pharmaceutical companies, seeking balance between large-, mid- and small-cap securities
Smart beta ETFs seek to provide a measure of protection - or of income
- Pacer Trendpilot™ 100 ETF
seeks to insure downside protection accounting for the 200-day moving average - Global X Nasdaq100® Covered Call ETF
- and First Trust Nasdaq BuyWrite Income ETF
seek to provide income by selling option calls on the index
Invesco QQQ Trust