Nvidia and AI Leaders Propel QQQ Trust to Top Growth Performance
The Invesco QQQ Trust is one of the world's best-performing exchange-traded funds, ranking in the top 1% of large-cap growth funds by 15-year total return. It is also the second-most traded ETF globally.
One share of this fund currently costs over $710 and offers exposure to the Nasdaq-100 index, which tracks 100 of the largest non-financial stocks on the Nasdaq stock exchange.
The five largest holdings in the Invesco QQQ Trust are Nvidia (8.4%), Apple (7.4%), Microsoft (5.7%), Micron Technologies (4.7%), and Amazon (4.6%). These companies are leaders in artificial intelligence, which has driven the fund's recent returns and is expected to continue powering future growth.
The global capital spending on data centers alone is estimated to reach nearly $7 trillion by 2030, according to McKinsey. This spending should drive robust growth for Nvidia and Micron during the near-term build-out and eventually accelerate growth for tech companies like Apple, Microsoft, and Amazon.