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First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW)
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Upturn Advisory Summary
10/23/2024: QQEW (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Analysis of Past Performance
Type ETF | Historic Profit -5.41% | Avg. Invested days 52 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 10/23/2024 |
Key Highlights
Volume (30-day avg) 51188 | Beta 1.09 | 52 Weeks Range 112.91 - 133.62 | Updated Date 01/22/2025 |
52 Weeks Range 112.91 - 133.62 | Updated Date 01/22/2025 |
AI Summary
ETF First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) Overview
Profile:
- Primary Focus: Large-cap growth stocks within the technology sector.
- Asset allocation: Equal-weighted holdings of the 100 largest non-financial companies listed on the NASDAQ.
- Investment strategy: Passively tracks the Nasdaq-100 Equal Weighted Index.
Objective:
- To provide investors with exposure to the performance of the Nasdaq-100 Equal Weighted Index.
Issuer:
- First Trust Advisors LP.
- Reputation and Reliability: Established asset management firm with a long history and strong track record.
- Management: Experienced investment team with expertise in index tracking and quantitative strategies.
Market Share:
- Holds approximately 2.5% of the total assets invested in Nasdaq-100 ETFs.
Total Net Assets:
- As of November 22, 2023, approximately $6.2 billion.
Moat:
- Unique equal-weighting methodology that reduces concentration risk compared to traditional cap-weighted indices.
- Low expense ratio.
Financial Performance:
- Over the past 3 years, QQEW has outperformed the Nasdaq-100 Index by an average of 1.5% per year.
- However, it has also experienced higher volatility due to its equal-weighting approach.
Growth Trajectory:
- The fund has seen steady growth in assets under management over the past few years.
- This trend is likely to continue as investors seek diversification and exposure to large-cap growth stocks.
Liquidity:
- Average daily trading volume is over 2 million shares.
- Bid-ask spread is typically around $0.02.
Market Dynamics:
- Affected by factors such as technology sector performance, economic growth, and interest rate changes.
Competitors:
- Invesco QQQ Trust (QQQ)
- iShares NASDAQ-100 ETF (QQQ)
- ProShares UltraPro QQQ (TQQQ)
Expense Ratio:
- 0.58%
Investment approach and strategy:
- Passively tracks the Nasdaq-100 Equal Weighted Index.
- Comprises solely of stocks, specifically 100 large-cap, non-financial companies listed on the NASDAQ.
Key Points:
- Provides exposure to large-cap growth stocks.
- Reduces concentration risk through equal-weighting.
- Offers competitive expense ratio.
- Has outperformed the Nasdaq-100 Index in recent years.
Risks:
- High volatility due to equal-weighting methodology.
- Concentration risk in the technology sector.
- Market risk associated with large-cap growth stocks.
Who Should Consider Investing:
- Investors seeking exposure to large-cap growth stocks.
- Investors who want to reduce concentration risk compared to cap-weighted indices.
- Investors with a medium to long-term investment horizon.
Fundamental Rating Based on AI:
- 7.5 out of 10.
Justification:
- QQEW exhibits strong financial performance, a competitive expense ratio, and a unique investment strategy.
- However, its high volatility and concentration risk may be concerning for some investors.
Resources and Disclaimers:
- Data gathered from First Trust website, ETF.com, and Bloomberg.
- This information is for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.
About First Trust NASDAQ-100 Equal Weighted Index Fund
Exchange NASDAQ | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The fund will normally invest at least 90% of its net assets (including investment borrowings) in the securities that comprise the index. The index is the equal-weighted version of the NASDAQ-100 Index® which includes 100 of the largest U.S. and international non-financial companies listed on Nasdaq based on market capitalization.
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