Today, VictoryShares rolled out an ETF tracking an index that is sort of a little sibling to the Nasdaq-100 Index. The VictoryShares Nasdaq Next 50 ETF (QQQN) has an underlying benchmark that covers the 50 largest nonfinancial stocks trading on the Nasdaq exchange after the exclusion of the components of the Nasdaq-100.
QQQN comes with an expense ratio of 0.18% and lists on the Nasdaq stock exchange.
These are really the stocks that are in the waiting room to enter the Nasdaq-100, which has its annual rebalance in December. The current top holdings are Marvell Technology Group, Old Dominion Freight Lines and Okta. Rather than the complex tiered weighting scheme that characterizes the Nasdaq-100, QQQN’s underlying index is simply weighted by market capitalization.
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