QQEW

$126.13 0.06% $0.08
Nov 15, 2024 20:00 PM

QQEW is an exchange-traded fund (ETF) that seeks to track the performance of the NASDAQ-100 Equal Weighted Index. Unlike the traditional NASDAQ-100 Index, which is weighted by market capitalization, QQEW gives equal weight to all 100 stocks in the index, providing balanced exposure to each stock regardless of its market size.

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Asset Summary

Weekly Performance Report for QQEW ETF: Week 46, 2024

Summary: The Weekly started with QQEW ETF opening at $130.55 and closing at $126.19. The ETF showed weakness throughout the Weekly, with the highest price observed at $130.95 and the lowest at $125.88. The underlying asset had a trading range of $5.07 Overall, it was a negative trading Weekly for QQEW ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-4.36 or -3.34% in the closing price from the opening to the closing price over the Weekly.

Volume Analysis: Trading volume for QQEW ETF was 546,998 units during Week 46, indicating active market participation and investor interest.

Opening Price: The Weekly started at $130.55.

Highest Price: The highest price observed during the Weekly was $130.95.

Lowest Price: The lowest price observed during the Weekly was $125.88.

Closing Price: The Weekly ended at $126.19.

Asset Performance Metrics and Risk Characteristics:

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 Month Trailing Return

-0.58%

Represents the percentage change in asset value over the past month.

3 Month Trailing Return

2.73%

Indicates the percentage change in asset value over the last three months.

Period Max Drawdown

10.39%

The highest percentage drop from the peak value to the lowest point during the observed period.

Standard Deviation

14.77%

Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.

Sharpe Ratio

0.71

Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.

Calmar Ratio

1.01

The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.

Asset Technical Analysis

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

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:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

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 rebalances its portfolio quarterly to maintain the equal weight allocation among the 100 stocks in the NASDAQ-100 Index. This rebalancing process involves adjusting the weight of each stock to ensure that each maintains an equal share of the fund’s assets.

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.

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 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.

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.

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.

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