Invesco launched an exchange-traded fund designed to provide buyers publicity to the highest 45% of firms within the Nasdaq-100 Index.
Brian Hartigan, the agency’s international head of ETFs and index devices, runs Invesco QQQ Belief (QQQ), which is the fifth-largest ETF on this planet, in keeping with VettaFi. Now Hartigan is taking up the Invesco Prime QQQ ETF (QBIG), which launched Dec. 4.
In accordance with Hartigan, there’s a demand to seize the megacap focus story throughout the Nasdaq.
“That is what buyers have been asking us for. How do I dial up that, that publicity and actually seize nearly all of the drivers of returns within the Nasdaq,” Hartigan stated on CNBC’s “ETF Edge” this week.
As of Wednesday, a few of Invesco Prime QQQ ETF’s high holdings have been Apple, Nvidia and Microsoft, in keeping with Invesco’s web site.
Hartigan notes buyers can steadiness out their portfolio threat with related funds.
“You’ve got this precision that buyers are utilizing ETFs to actually steadiness out both below focus or over focus for his or her portfolios,” he stated.
As of Friday’s shut, Invesco Prime QQQ ETF is up round 5.5% since its debut.
Nate Geraci, president of The ETF Retailer, notes different new funds have launched to permit buyers to be focused on megacaps.
“We have seen different issuers launch merchandise both focusing on the biggest mega-cap names or particularly avoiding them. And what that tells you is issuers are clearly conscious of this battle of the markets proper now. I feel we will proceed to see form of this tug of battle play out transferring ahead,” he stated.
