This ETF tracks an ex-technology index made up of Nasdaq 100 constituents that are not classified in the technology sector. Instead of market-cap weighting, it applies equal weighting so that individual holdings carry similar weights.

It suits investors who want Nasdaq 100 exposure but wish to reduce concentration in Big Tech stocks and diversify into non-technology sectors.

It is a passive (index-tracking) ETF managed by First Trust.

The fund holds the Nasdaq 100 constituents remaining after technology-sector stocks are excluded, on an equal-weighted basis. Because of equal weighting, exposure is not concentrated in a handful of large caps. With technology removed, non-technology sectors such as consumer, healthcare and industrials have a relatively larger influence.

• Nasdaq 100 exposure excluding the technology sector
• Equal weighting that eases single-stock concentration

Assets under management (AUM) are $135.3M, and the expense ratio is 0.57% per year.

The key differences from a standard Nasdaq 100 ETF are the exclusion of technology stocks and the use of equal weighting. Its expense level is somewhat higher than that of broad core ETFs.

Because the structure excludes technology stocks, it can lag standard Nasdaq index-tracking ETFs that include technology during Big Tech rallies, and it tends to hold up relatively well when non-technology sectors are strong. Recent trends fluctuate with market sector rotation.

Fund flows follow diversification demand from investors seeking to reduce technology concentration, and the fund is small to mid-sized within its category. Interest tends to vary with the market's sector rotation phase.

Its strengths are diversification away from technology concentration and equal weighting, while its weaknesses are a somewhat higher expense ratio and modest size.

Among the comparison ETFs shown in the table, products such as SPXT apply the ex-technology concept to the S&P 500, while blue-chip-focused ETFs such as BBLU and BCHP offer broad exposure and differ in expenses and strategy. Outside the table, investors who want standard exposure that includes technology can look at QQQ, which tracks the same Nasdaq 100, or the lower-cost QQQM as direct alternatives. Conversely, XLK can be considered for technology sector concentration and RSP for equal-weighted diversification.

Here are the points to review before investing in QQXT. It is worth confirming in advance how its ex-technology structure, equal-weighting method, expense ratio and size differ from standard Nasdaq 100 ETFs.

When Big Tech leads the market, the ex-technology structure can cause relative underperformance, and its modest size within the category may limit liquidity.

It suits investors who want to keep Nasdaq 100 exposure while reducing technology concentration and diversifying with equal weighting. If you need standard exposure that includes technology, products such as QQQ and QQQM are alternatives, and if technology concentration is the goal, sector ETFs such as XLK are an option.