In this article, we discuss 5 best NASDAQ ETFs. If you want to read our detailed discussion on the performance of the NASDAQ index, head directly to 12 Best NASDAQ ETFs.
5. Invesco QQQ Trust (NASDAQ:QQQ)
5-Year Performance as of August 18: 96.50%
Invesco QQQ Trust (NASDAQ:QQQ) provides access to companies leading in revolutionary, innovative trends like Augmented Reality, Cloud Computing, Big Data, Mobile Payments, Streaming Services, Electric Vehicles, and other similar themes. As of August 16, 2023, Invesco QQQ Trust (NASDAQ:QQQ)’s assets under management amounted to $197.22 billion, along with an expense ratio of 0.2%. Its portfolio consists of 101 consists. Invesco QQQ Trust (NASDAQ:QQQ) is one of the best NASDAQ ETFs to invest in.
Meta Platforms, Inc. (NASDAQ:META) is one of the top holdings of Invesco QQQ Trust (NASDAQ:QQQ). On July 26, Meta Platforms, Inc. (NASDAQ:META) reported a Q2 GAAP EPS of $2.98 and a revenue of $32 billion, outperforming Wall Street estimates by $0.07 and $970 million, respectively.
According to Insider Monkey’s second quarter database, Meta Platforms, Inc. (NASDAQ:META) was part of 225 hedge fund portfolios, compared to 220 in the prior quarter. Chase Coleman’s Tiger Global Management is a significant position holder in the company, with 8.5 million shares worth $2.45 billion.
Weitz Partners III Opportunity Fund made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its second quarter 2023 investor letter:
“Meta Platforms, Inc. (NASDAQ:META) shares more than doubled this year (and tripled off their November 2021 low) as management’s austerity measures bolstered profitability, and operating results demonstrated that Meta’s advertising business is regaining momentum. We trimmed several of the year’s winners on strength, including Meta, Microsoft, Alphabet, CoStar Group, Inc. (CSGP), and CarMax.”
Follow Meta Platforms Inc. (NASDAQ:META)
Follow Meta Platforms Inc. (NASDAQ:META)
4. iShares Semiconductor ETF (NASDAQ:SOXX)
5-Year Performance as of August 18: 155.95%
iShares Semiconductor ETF (NASDAQ:SOXX)’s main goal is to replicate the performance of the ICE Semiconductor Index, which consists of semiconductor stocks listed on the US exchanges. The ETF was created on July 10, 2001. As of August 16, 2023, iShares Semiconductor ETF (NASDAQ:SOXX) held net assets worth $8.5 billion and a portfolio containing 30 stocks. It comes with an expense ratio of 0.35%. iShares Semiconductor ETF (NASDAQ:SOXX) is one of the best NASDAQ ETFs to watch.
Broadcom Inc. (NASDAQ:AVGO), an American semiconductor corporation, is one of the top holdings of the iShares Semiconductor ETF (NASDAQ:SOXX). On June 1, Broadcom Inc. (NASDAQ:AVGO) reported a Q2 non-GAAP EPS of $10.32 and a revenue of $8.73 billion, outperforming Wall Street estimates by $0.18 and $20 million, respectively.
According to Insider Monkey’s second quarter database, 72 hedge funds were long Broadcom Inc. (NASDAQ:AVGO), same as the prior quarter. Rajiv Jain’s GQG Partners is a significant position holder in the company, with 1.10 million shares worth $955.7 million.
Here is what Aristotle Atlantic Partners has to say about Broadcom Inc. (NASDAQ:AVGO) in its Q2 2023 investor letter:
“Broadcom contributed to outperformance, as the company is seen as a key beneficiary of the investment in generative Artificial Intelligence (AI) and Large Language Models (LLM). The company’s Application-Specific Integrated Circuit (ASIC) chips are being custom-built for customers to use in their data centers for accelerated computing. Broadcom’s networking chipsets are also expected to see increased levels of demand, as customers increase investments to enable the high-speed data transfer required by advanced AI training and inference. The company also announced a new multi-year supplier relationship with Apple, the company’s largest customer.”
Follow Broadcom Inc. (NASDAQ:AVGO)
Follow Broadcom Inc. (NASDAQ:AVGO)
3. VanEck Semiconductor ETF (NASDAQ:SMH)
5-Year Performance as of August 18: 172.13%
VanEck Semiconductor ETF (NASDAQ:SMH)’s aim is to imitate the price and yield results of the MVIS® US Listed Semiconductor 25 Index. This index is designed to monitor the performance of companies engaged in semiconductor production and equipment. As of August 16, 2023, the VanEck Semiconductor ETF had a total net asset value of $9.51 billion and an expense ratio of 0.35%. The ETF was introduced on November 20, 2011. VanEck Semiconductor ETF (NASDAQ:SMH) is one of the best NASDAQ ETFs to buy.
Intel Corporation (NASDAQ:INTC) holds a significant position in VanEck Semiconductor ETF (NASDAQ:SMH)’s portfolio. On June 27, Intel Corporation (NASDAQ:INTC) reported a Q2 non-GAAP EPS of $0.13 and a revenue of $12.9 billion, outperforming Wall Street estimates by $0.16 and $760 million, respectively.
According to Insider Monkey’s second quarter database, 86 hedge funds were bullish on Intel Corporation (NASDAQ:INTC), same as the previous quarter. Henry Ellenbogen’s Durable Capital Partners is the leading stakeholder of the company, with 1.4 million shares worth $659.4 million.
ClearBridge Large Cap Growth Strategy made the following comment about Intuit Inc. (NASDAQ:INTU) in its second quarter 2023 investor letter:
“Taking advantage of post-earnings weakness, we initiated a position in Intuit Inc. (NASDAQ:INTU), a provider of software for small business accounting and tax preparation under the QuickBooks and TurboTax brands as well as personal finance (Credit Karma) and marketing services (Mailchimp). We see a clear path to upside earnings revisions as the company expands new products that increase its total addressable market and drive average revenue per user growth.”
Follow Intel Corp (NASDAQ:INTC)
Follow Intel Corp (NASDAQ:INTC)
2. GraniteShares 1.5x Long META Daily ETF (NASDAQ:FBL)
5-Year Performance as of August 18: 235.69%
GraniteShares 1.5x Long META Daily ETF (NASDAQ:FBL)’s objective is to achieve daily investment outcomes that are 1.5 times (150%) the daily percentage alteration in the value of Meta Platforms, Inc. (NASDAQ:META)’s common stock. The ETF was introduced on December 13, 2022. Based on 5-year performance as of August 18, GraniteShares 1.5x Long META Daily ETF (NASDAQ:FBL) is one of the best NASDAQ ETFs to buy.
1. GraniteShares 1.5x Long NVDA Daily ETF (NASDAQ:NVDL)
5-Year Performance as of August 18: 274.53%
GraniteShares 1.5x Long NVDA Daily ETF (NASDAQ:NVDL)’s primary goal is to achieve daily investment results, before deducting fees and costs, that are equivalent to 1.5 times (150%) the daily percentage fluctuation of NVIDIA Corporation (NASDAQ:NVDA)’s common stock. The ETF was founded on December 13, 2022. Given its 5-year performance as of August 18, GraniteShares 1.5x Long NVDA Daily ETF (NASDAQ:NVDL) is one of the best NASDAQ ETFs to buy.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 10 Healthcare Stocks with Insider Buying and 10 Best New Penny Stocks to Buy Now.
