QQQ
Invesco QQQ Trust
Exchange traded fund designed to correspond to the price and yield performance of the Nasdaq-100 Index, which consists of the 100 largest non-financial companies listed on NASDAQ.
Fund Basics
| Fund sponsor | Invesco PowerShares |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 10, 1999 |
| Assets (mns) | $125,309 |
| Expense ratio | 20 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | NASDAQ - Listed |
| Weighting | Tiered |
| Smart-beta | No |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 13.0 % |
| MICROSOFT CORP | 10.6 % |
| AMAZON.COM INC | 10.3 % |
| 4.3 % | |
| TESLA MOTORS INC | 3.7 % |
| ALPHABET INC. CLASS A | 3.5 % |
| ALPHABET INC. CLASS C | 3.4 % |
| NVIDIA CORP | 2.7 % |
| ADOBE SYSTEMS INC | 2.0 % |
| INTEL CORP | 1.9 % |
Constituent Breakdown
| Number of holdings | 103 |
| Herfindahl-Hirschman Index | 511 |
| Wgt avg mkt cap (mns) | $793,823 |
| Large cap (>$10bn) | 99.8% |
| Mid cap ($2-10bn) | 0.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.2% |
| Emerging mkts. | 1.8% |
Country Exposure
 |
UNITED STATES | 96.2 % |
 |
CHINA | 1.6 % |
 |
NETHERLANDS | 0.6 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2020)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 39.2% | 58.5% | 26.7% | 27.4% | 24.2% | 22.4% | 9.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.03 | 88% |
| MSCI EAFE | 0.99 | 68% |
| MSCI Emg Mkts | 0.73 | 59% |
Liquidity Measures
| Avg. volume (000) | 34,153 |
| Turnover | 7.3% |
| Avg. Bid/Ask (% of price) | 0.01% |
| ADV of underlying (mns) | $6,203 |
Technical Indicators
| Recent close | $266.87 |
| 30d moving avg. | $279.50 |
| Annualized volatility | 19.2% |
| Relative strength (RSI) | 47 |
| Short interest (ETF) | 11.8% |
| Short interest (underlying) | 2.4% |
Distributions
Total Cost of Ownership Detail
| QQQ | Difference | ||
|---|---|---|---|
| Fund expenses | -- | -- | |
| Bid/Ask spread | -- | -- | |
| Round-trip commission | -- | -- | -- |
| Total Cost of Ownership | -- | -- | -- |
Total Cost of Ownership over Time
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. QQQ |
Expenses vs. QQQ |
ALTAR Score™ vs. QQQ |
|---|---|---|---|---|
| QYLD | Global X NASDAQ 100 Covered Call ETF | 98.5% | +40 bp | -0.4% |
| NUSI | Nationwide Risk-Managed Income ETF | 98.0% | +48 bp | -0.5% |
| MGK | Vanguard Mega Cap Growth ETF | 69.3% | -13 bp | +0.3% |
| ONEQ | Fidelity Nasdaq Composite Index Tracking Stock | 65.7% | +1 bp | -2.3% |
| IWY | iShares Russell Top 200 Growth ETF | 65.4% | 0 bp | +0.3% |
| IETC | iShares Evolved U.S. Technology ETF | 63.3% | -2 bp | +0.2% |
| IGM | iShares Expanded Tech Sector ETF | 63.0% | +26 bp | -0.5% |
| TMFC | Motley Fool 100 Index ETF | 60.4% | +30 bp | -0.6% |
| IWF | iShares Russell 1000 Growth ETF | 59.4% | -1 bp | -0.3% |
| VOOG | Vanguard S&P 500 Growth ETF | 58.7% | -10 bp | 0.0% |
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Results & Estimates
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020E | 2021E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2019 | 2020E | Fwd Est | 2021E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/18/2020
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
QQQ
5.9%
Cat. Avg
5.9%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.9% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 711 funds in the US Equities category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.6%. QQQ's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places QQQ in the 50th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
QQQ
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
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Market Activity
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