Through the lows of the COVID-19 pandemic, the technology sector has been a major driver of the stock market in the United States. Five large technology companies currently account for more than 20% of the S&P 500. Exchange Traded-Funds (ETFs) that invest in the technology sector have been riding the highs of Apple Inc., Amazon.com, Inc., and Alphabet shares. The emergence of retail investors in the market, who use social media platforms like Reddit as their primary source of financial information, has taken a keen interest in tech ETFs in recent months. The fast-changing market dynamics have shown that technology stocks have produced waves in other market categories as well. Over the last six months, these shifts have wreaked havoc on whole financial portfolios.
Here is Insider Monkey’s list of the 10 best tech ETFs to buy according to Reddit. The Invesco NASDAQ Internet ETF manages over $1 billion in net assets. It has a net expense ratio of 0.60 percent and a year-to-date daily total return of 3.85 percent. The fund’s 52-week price range is between $163 and $264. According to Reddit, QTEC is the 9th best tech ETF to invest in. The First Trust NASDAQ-100-Technology Sector Index Fund has a net asset value of more than $3.4 billion. The fund’s year-to-date daily total return is a respectable 6.38 percent. The iShares Expanded Tech Sector ETF manages over $3.3 billion in net assets. It is a non-diversified fund that invests 90% of its assets in the underlying index’s shares. The fund’s 52-week price range is between $261 and $392. The iShares Expanded Tech-Software Sector ETF now manages over $5.2 billion in net assets. Zoom Video Communications, Inc., a communications technology firm situated in California, is one of the fund’s strongest holdings. The Technology Select Sector SPDR Fund is a hedge fund that manages more than $40 billion in net assets. According to Reddit, XLK is the 6th best tech ETF to invest in. The fund’s price range is $97-$143 for the past 52 weeks. For more details, click 10 Best Tech ETFs to Buy According to Reddit.
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