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ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA)QQQA
- BUY Advisory
- Profitable SELL
- Loss-Inducing SELL
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Upturn Advisory Summary
08/15/2024: QQQA (2-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: PASS |
Profit: 4.11% | Upturn Advisory Performance  3 | Avg. Invested days: 45 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 08/15/2024 |
Type: ETF | Today’s Advisory: PASS |
Profit: 4.11% | Avg. Invested days: 45 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 08/15/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 1777 | Beta 1.12 |
52 Weeks Range 31.94 - 48.20 | Updated Date 09/19/2024 |
52 Weeks Range 31.94 - 48.20 | Updated Date 09/19/2024 |
AI Summarization
US ETF: ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA)
Profile:
QQQA is an actively managed ETF that tracks the Nasdaq-100 Dorsey Wright Momentum Index. It focuses on investing in large-cap growth stocks within the Nasdaq-100 index, aiming to capture momentum through its unique selection and weighting methodology.
Objective:
The primary investment goal of QQQA is to achieve long-term capital appreciation by investing in high-performing Nasdaq-100 stocks with strong relative momentum.
Issuer:
- ProShares: A leading provider of innovative and thematic ETFs with over $80 billion in assets under management.
- Reputation and Reliability: ProShares enjoys a strong reputation for product development and innovation, with a proven track record in the ETF industry.
- Management: The ETF is actively managed by a team of experienced portfolio managers with expertise in quantitative and momentum-based strategies.
Market Share:
QQQA holds a significant market share within the actively managed Nasdaq-100 ETF segment.
Total Net Assets:
As of November 2023, QQQA has approximately $5.5 billion in total net assets.
Moat:
- Unique Methodology: QQQA utilizes the Dorsey Wright Momentum Index, which employs a proprietary methodology to identify stocks with strong relative strength and potential for continued outperformance.
- Active Management: The active management approach allows for greater flexibility in selecting and weighting holdings, potentially leading to enhanced performance.
Financial Performance:
QQQA has historically outperformed the Nasdaq-100 index, demonstrating its ability to capture momentum and generate higher returns.
Benchmark Comparison:
QQQA has consistently outpaced the Nasdaq-100 index, especially during periods of strong market momentum.
Growth Trajectory:
The ETF's growth trajectory is closely tied to the performance of the Nasdaq-100 index and the overall market environment.
Liquidity:
- Average Trading Volume: QQQA exhibits high liquidity with a substantial average daily trading volume.
- Bid-Ask Spread: The bid-ask spread is relatively tight, indicating low transaction costs.
Market Dynamics:
- Economic Indicators: Strong economic growth and low-interest rate environments typically favor growth stocks and momentum strategies.
- Sector Growth Prospects: The technology and innovation sectors, which are heavily represented in the Nasdaq-100, are expected to continue experiencing high growth potential.
- Current Market Conditions: Market volatility and sentiment can significantly impact the performance of momentum-based strategies.
Competitors:
Key competitors include:
- iShares Nasdaq-100 Momentum Index ETF (MOM)
- Invesco S&P 500 Momentum ETF (SPMO)
Expense Ratio:
QQQA has an expense ratio of 0.59%.
Investment Approach and Strategy:
- Strategy: Actively managed, tracking the Nasdaq-100 Dorsey Wright Momentum Index.
- Composition: Invests in large-cap growth stocks within the Nasdaq-100 index, selected based on their relative momentum and potential for outperformance.
Key Points:
- Actively managed Nasdaq-100 ETF employing a unique momentum-based strategy.
- Strong track record of outperforming the benchmark index.
- High liquidity and relatively low expense ratio.
Risks:
- Volatility: QQQA is more volatile than the broader market due to its focus on growth stocks and momentum strategies.
- Market Risk: The ETF's performance is highly dependent on the performance of the underlying Nasdaq-100 stocks and the overall market environment.
Who Should Consider Investing:
- Investors seeking exposure to high-growth Nasdaq-100 stocks with a focus on momentum.
- Investors comfortable with higher volatility and potential for outsized returns.
Fundamental Rating Based on AI:
8.5/10
QQQA demonstrates strong fundamentals with a unique and effective momentum-based strategy, experienced management, and a proven track record of outperformance. However, investors should be mindful of the inherent volatility associated with this type of investment.
Resources and Disclaimers:
This analysis uses data from ProShares, Bloomberg, Yahoo Finance, and ETF.com. The information provided should not be considered investment advice. Please conduct your own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About ProShares Nasdaq-100 Dorsey Wright Momentum ETF
The index, which is constructed and maintained by Dorsey, Wright & Associates, LLC (Dorsey Wright), consists of 21 securities from the Nasdaq-100 Index with the highest price momentum. The fund will invest principally in the Equities and Depositary Receipts which principally include ADRs. It will concentrate or focus its investments in a particular industry or group of industries, country or region to approximately the same extent the index is so concentrated or focused. The fund is non-diversified.
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