Daily Performance Report for QQEW ETF: Nov 6, 2024
Summary: The day started with QQEW ETF opening at $128.35 and closing at $129.01. The ETF showed resilience throughout the day, with the highest price observed at $129.19 and the lowest at $127.73. The underlying asset had a trading range of $1.46 Overall, it was a positive trading day for QQEW ETF, reflecting investor optimism and market activity.
Change in Closing Price: There was a net increase of $0.66 or 0.51% in the closing price from the opening to the closing price over the day.
Volume Analysis: Trading volume for QQEW ETF was 43,313 units during Nov 6, 2024, indicating active market participation and investor interest.
Opening Price: The day started at $128.35.
Highest Price: The highest price observed during the day was $129.19.
Lowest Price: The lowest price observed during the day was $127.73.
Closing Price: The day ended at $129.01.
Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.
1.23%
Represents the percentage change in asset value over the past month.
9.20%
Indicates the percentage change in asset value over the last three months.
10.39%
The highest percentage drop from the peak value to the lowest point during the observed period.
14.47%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
0.73
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
1.02
The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.
Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.
Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:
Type/Period | |
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SMA | |
EMA | |
WMA | |
WEMA |
Pivot Points are used to determine potential support and resistance levels. Here’s a breakdown of the latest Pivot Points for various methods:
Type | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
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Technical Indicators are tools used to analyze market trends and make predictions. Here’s a summary of some key indicators:
Indicator | Value | Details |
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Candlestick patterns are crucial in technical analysis, providing visual insights into market sentiment and potential price movements. This section analyzes various candlestick patterns over a specified range of recent candles to identify any significant formations that might indicate future market trends. Each pattern is evaluated based on the latest candle data to determine if it matches known patterns of bullish or bearish signals.
The tool utilizes real-time price data to scan for these patterns, displaying results with timestamps to help understand the context of each detected pattern.
Timestamp | Pattern | Found |
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Pattern | Support |
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This section provides a detailed overview of historical price data for the selected asset. The table below captures key metrics such as open, high, low, and close prices as well as volume and vwap for each trading period. Analyzing historical prices helps in understanding past market trends and volatility, enabling better-informed decisions for future trading strategies.
Timestamp | Open | High | Low | Close | Volume | VWAP | Change |
---|---|---|---|---|---|---|---|
11/06/2024 08:00 PM | 129.11 | 129.19 | 128.94 | 128.99 | 9,048 | 129.05 | -0.12 -0.09% |
11/06/2024 07:00 PM | 128.97 | 129.07 | 128.86 | 128.98 | 4,767 | 128.97 | +0.01 +0.01% |
11/06/2024 06:00 PM | 128.59 | 128.97 | 128.59 | 128.91 | 2,923 | 128.87 | +0.32 +0.25% |
11/06/2024 05:00 PM | 128.54 | 128.70 | 128.48 | 128.66 | 3,123 | 128.61 | +0.12 +0.09% |
11/06/2024 04:00 PM | 127.96 | 128.62 | 127.96 | 128.62 | 3,627 | 128.37 | +0.66 +0.52% |
11/06/2024 03:00 PM | 128.13 | 128.34 | 127.94 | 127.94 | 5,952 | 128.23 | -0.19 -0.15% |
11/05/2024 08:00 PM | 125.77 | 125.95 | 125.71 | 125.95 | 3,405 | 125.81 | +0.18 +0.14% |
11/05/2024 07:00 PM | 125.69 | 125.74 | 125.57 | 125.58 | 5,090 | 125.63 | -0.11 -0.09% |
11/05/2024 06:00 PM | 125.87 | 125.87 | 125.54 | 125.66 | 2,292 | 125.69 | -0.21 -0.17% |
11/05/2024 05:00 PM | 125.66 | 125.89 | 125.66 | 125.88 | 16,888 | 125.82 | +0.22 +0.18% |
11/05/2024 04:00 PM | 125.44 | 125.64 | 125.44 | 125.64 | 4,040 | 125.61 | +0.20 +0.16% |
11/05/2024 03:00 PM | 125.50 | 125.50 | 125.25 | 125.25 | 1,228 | 125.38 | -0.25 -0.20% |
11/04/2024 08:00 PM | 124.78 | 124.84 | 124.55 | 124.64 | 9,403 | 124.71 | -0.14 -0.11% |
11/04/2024 07:00 PM | 124.96 | 124.96 | 124.81 | 124.95 | 597 | 124.89 | -0.01 -0.01% |
11/04/2024 06:00 PM | 124.77 | 125.05 | 124.63 | 124.90 | 2,286 | 124.92 | +0.13 +0.10% |
11/04/2024 05:00 PM | 124.46 | 124.85 | 124.30 | 124.85 | 2,165 | 124.62 | +0.39 +0.31% |
11/04/2024 04:00 PM | 125.11 | 125.21 | 124.49 | 124.53 | 4,364 | 124.80 | -0.58 -0.46% |
11/04/2024 03:00 PM | 124.87 | 125.16 | 124.81 | 125.08 | 3,690 | 125.07 | +0.21 +0.17% |
11/01/2024 07:00 PM | 124.76 | 124.95 | 124.61 | 124.76 | 5,567 | 124.79 | 0.00 0.00% |
11/01/2024 06:00 PM | 124.78 | 124.80 | 124.68 | 124.80 | 85,910 | 124.78 | +0.02 +0.02% |
11/01/2024 05:00 PM | 125.18 | 125.18 | 124.80 | 124.84 | 2,558 | 124.88 | -0.34 -0.27% |
11/01/2024 04:00 PM | 125.11 | 125.21 | 124.99 | 124.99 | 10,097 | 125.10 | -0.12 -0.10% |
11/01/2024 03:00 PM | 125.06 | 125.32 | 125.01 | 125.02 | 5,105 | 125.15 | -0.04 -0.03% |
11/01/2024 02:00 PM | 124.51 | 125.17 | 124.51 | 125.13 | 3,235 | 124.91 | +0.62 +0.50% |
10/31/2024 07:00 PM | 123.89 | 124.13 | 123.70 | 123.70 | 18,032 | 123.91 | -0.19 -0.15% |
10/31/2024 06:00 PM | 123.91 | 123.98 | 123.84 | 123.94 | 4,892 | 123.92 | +0.03 +0.02% |
10/31/2024 05:00 PM | 124.16 | 124.17 | 123.90 | 123.90 | 5,953 | 123.97 | -0.26 -0.21% |
10/31/2024 04:00 PM | 123.96 | 124.10 | 123.96 | 124.09 | 7,014 | 124.03 | +0.13 +0.10% |
10/31/2024 03:00 PM | 123.93 | 124.13 | 123.71 | 123.87 | 14,378 | 123.92 | -0.06 -0.05% |
10/31/2024 02:00 PM | 124.19 | 124.40 | 123.85 | 123.85 | 3,801 | 124.13 | -0.34 -0.27% |
10/30/2024 07:00 PM | 126.03 | 126.03 | 125.71 | 125.79 | 9,265 | 125.81 | -0.24 -0.19% |
10/30/2024 06:00 PM | 125.91 | 126.14 | 125.91 | 126.10 | 17,321 | 126.06 | +0.19 +0.15% |
10/30/2024 05:00 PM | 126.08 | 126.11 | 125.75 | 125.96 | 6,359 | 126.03 | -0.12 -0.10% |
10/30/2024 04:00 PM | 126.31 | 126.31 | 126.10 | 126.10 | 7,085 | 126.15 | -0.21 -0.17% |
10/30/2024 03:00 PM | 126.34 | 126.35 | 126.19 | 126.35 | 2,218 | 126.29 | +0.01 +0.01% |
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Take Action NowThe historical performance of QQEW reflects its objective to track the NASDAQ-100 Equal Weighted Index. The ETF’s performance may differ from the NASDAQ-100 Index due to the equal weighting of all stocks, which can lead to different return characteristics over various time periods.
QQEW distributes dividends on a quarterly basis. These dividends are paid from the income generated by the underlying securities in the ETF’s portfolio.
Similar ETFs to QQEW include Invesco QQQ Trust (QQQ), which tracks the NASDAQ-100 Index using a market-cap weighted approach, and Invesco NASDAQ-100 ETF (QQQ), which is also market-cap weighted. While these ETFs track the same index, they do not use the equal-weighted methodology of QQEW.
Risks associated with QQEW include market risk, sector risk, and the potential for higher volatility due to its equal-weighted approach. Since QQEW gives equal weight to all stocks, it may be more sensitive to the performance of smaller companies within the index compared to market-cap weighted ETFs.
QQEW is managed by Invesco. The fund uses an equal-weight methodology to allocate an equal percentage of its assets to each of the 100 companies in the NASDAQ-100 Index. This equal weighting strategy involves periodic rebalancing to ensure each stock maintains an equal allocation within the fund.
QQEW differs from market-cap weighted ETFs like QQQ in that it provides equal weight to each stock in the NASDAQ-100 Index, rather than weighting by market capitalization. This approach means that smaller companies have the same influence on the ETF’s performance as larger companies, which can lead to different performance outcomes compared to market-cap weighted funds.
QQEW aims to track the NASDAQ-100 Equal Weighted Index, which is different from the traditional NASDAQ-100 Index in that it provides equal exposure to all 100 stocks. This can result in different performance characteristics compared to the market-cap weighted NASDAQ-100 Index. QQEW may outperform or underperform the traditional index depending on the relative performance of the larger versus smaller stocks.
As of the latest update, QQEW has an expense ratio of approximately 0.35%. This fee is deducted from the fund’s assets and covers the cost of managing the ETF.
Key performance metrics for QQEW include its net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio indicates the cost of managing the fund, total return measures overall performance including dividends, and tracking error shows how closely QQEW follows the NASDAQ-100 Equal Weighted Index.
Yes, QQEW can be held in retirement accounts such as IRAs or 401(k)s. It is important for investors to consider their investment goals and risk tolerance when including QQEW in a retirement portfolio.
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