The Nasdaq 100 is one of the most popular indexes to track the market’s performance, and you can purchase the Invesco QQQ ETF (QQQ 0.01%) to invest in it. It’s often denoted as the “tech-heavy Nasdaq” when the media discusses it, thanks to its heavy concentration in tech companies. With the index up more than 19% this year, investors might wonder if it’s time to look elsewhere after such a strong start.
While it’s true that the index has started the year off tremendously, it doesn’t paint the complete picture. So let’s look at this index and see what the rest of 2023 might have in store.
The strong 2023 performance was caused by a weak 2022
Looking at the top 10 components of an index is a great way to see what stocks drive performance.