The NDQ ETF offers exposure to the 100 largest non-financial companies listed on the Nasdaq, giving the fund a strong bias toward US technology and growth stocks. With around A$8.85bn in assets, NDQ is one of the largest and most established ETFs on the ASX, with a management fee of 0.48% p.a. Its largest 5 holdings are all household names: NVIDIA (8%), Apple Inc. (7%), Microsoft (6%), Micron (5%), and Amazon (5%) although with over 100 holdings it has a long tail.
NDQ stands out as the largest, most diversified and arguably most straightforward core technology/growth exposure of the group. It’s roughly five times the size of FANG and benefits from strong liquidity, while its exposure to the Nasdaq 100 provides diversification across US growth companies spanning technology, consumer, healthcare and communications. Unlike SEMI’s pure semiconductor exposure, FANG’s concentrated mega-cap portfolio, ASIA’s Asian technology focus or LNAS’s leveraged structure, NDQ offers broad, unleveraged exposure to an established global benchmark. NDQ is an excellent core US growth ETF, with the other ETFs arguably more appropriate as satellite positions for investors seeking a specific thematic or tactical exposure.
- We can see the NDQ ETF trading above $65 before Christmas, but short-term the lack of breadth in last night’s gain is a concern.
MM is bullish on the NDQ ETF around $59
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