5 Best Technology ETFs To Buy

In this article, we discuss 5 best technology ETFs to buy. If you want to read our discussion on the technology market, head over to 12 Best Technology ETFs To Buy. 

5. Fidelity MSCI Information Technology Index ETF (NYSE:FTEC)

5 Year Performance as of September 12: 112.90%

Launched in October 2013, the Fidelity MSCI Information Technology Index ETF (NYSE:FTEC) aims to mimic the investment returns of the MSCI USA IMI Information Technology 25/50 Index. The ETF allocates a minimum of 80% of its assets to securities found in the MSCI USA IMI Information Technology 25/50 Index, while employing a representative sampling indexing approach. Currently, the total assets for the portfolio amount to $7.27 billion, while the expense ratio is maintained at 0.08%. It is one of the top technology ETFs to buy. 

Adobe Inc. (NASDAQ:ADBE) is a significant holding of Fidelity MSCI Information Technology Index ETF (NYSE:FTEC). Adobe Inc. (NASDAQ:ADBE) is a leading provider of software solutions under three segments – Digital Media, Digital Experience, and Publishing and Advertising. According to Insider Monkey’s second quarter database, a total of 109 hedge funds were bullish on Adobe Inc. (NASDAQ:ADBE), as compared to 99 hedge funds that had invested in the company during the past quarter.

Polen Global Growth Strategy said this about Adobe Inc. (NASDAQ:ADBE) in its second quarter 2023 investor letter: 

“While Adobe Inc. (NASDAQ:ADBE)’s growth has moderated from high teens to low teens during the past couple of years, Adobe continues to deliver solid growth, and management raised its full-year guidance during the most recent quarter. The company also introduced some AI product enhancements, which seem to have helped shift the narrative from “AI is going to be bad for Adobe” to “AI is going to be good.” Finally, the company continues to work towards the Figma acquisition.”