What has been absolutely incredible during this recent period of economic volatility has been the degree to which the technology sector has led the broad stock market recovery in recent months.
Investors today appeared to be more focused on obtaining growth and exposure to long term secular growth trends which are hard to find outside of the technology sector.
For those who believe this trend will continue well into the future and want a diversified portfolio of companies likely to provide leadership in this regard, the BMO NASDAQ 100 Hedged to CAD ETF (TSX: ZQQ) is the exchange traded fund to go to.
This ETF holds the largest tech companies on the NASDAQ, a group of companies that has provided the lion's share of returns in recent years. This ETF is not cheap, by nearly any metric, but has been bid up to these levels for a reason.
This ETF is one for investors with a very long-term investing time horizon and few concerns about entry point. For those looking to stash money away for retirement in small increments over long periods of time, this ETF is a great choice.
Given how heavily weighted the largest technology players are weighted in the NASDAQ, this ETF tracks the broad NASDAQ index closely.
Invest wisely, my friends.
