Which etf tracks nasdaq

Invesco might be the most well-known fund to leverage the Nasdaq, but Direxion offers an interesting take on the index, too. Their weight will fluctuate depending on how they perform over the next three months, but once the next rebalancing occurs, they're all set back onto equal footing. The good news? There's far less single-stock risk. This tends to result in less volatility.

The bad news? Long-term, it doesn't allow its winners to ride. The reason the likes of Apple and Microsoft are an overwhelming presence in the major indices which tend to be weighted by market capitalization is simply because they've grown so much. This allows these indices to increasingly benefit in their upside. There's little to go on at this point from a performance perspective, but the current makeup does share some similarities with QQQ.

This last group of ETFs, for the most part, aren't for the faint of heart — and more accurately, they're not for buy-and-hold investors. ProShares offers a number of ETFs that provide leveraged exposure to the Nasdaq Index, as well as inverse exposure to the index.

That gives you the opportunity to double your gains … but also to double your losses. If the market heads higher, these products naturally will lose value, but not at an accelerated rate like their leveraged brethren.

However, 2x and 3x products are best left to day traders and the pros. A wrong bet on these products can compound in a hurry, and generally are too heavy on risk for most individual investors.

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The Nasdaq has underperformed the broader market in the past year. AAPL