Assigned weights in the funds may be equal, but the performance of technology top performers is determinant for the ETFs invested in index constituents ranked by market cap such as S&P 500®, S&P 100®, NASDAQ-100® or Barron's 400
They influence ranking across the board in the selection
- dominating in tightly focused segments – such as SPDR® NYSE Technology ETF
– or First Trust ISE Cloud Computing Index Fund - diluted but compelling in tech focused First Trust Nasdaq-100 Equal Weighted Index Fund
- - or weighing on performance by their absence in specialized tech segments (such as robotics) and in dedicated sectors
However, various equally weighted segments stand out in their own right – in real estate, finance or industrials – contributing potentially to portfolio diversification
To take a closer look, momentum signals trends of the last 5 days against a 20-day average
For comparison, select various time frames in the top right menu box, from 2 weeks to a full year (performance of some very recently listed ETFs may not be significant for lack of price data)