Invesco NASDAQ 100 ETF

QQQM

Market cap $99.6B

SpaceX joined the Nasdaq-100 sooner than expected after the exchange revised its inclusion methodology. SpaceX now accounts for just over 1% of the Nasdaq-100.

I rate Invesco NASDAQ 100 ETF a 'Hold' due to stretched valuations and signs of slowing AI-driven growth. Rising competition and a shift toward leaner AI models may pressure margins and revenue for key QQQM's chip companies. The fund offers a lower expense ratio than QQQ, making it more suitable for long-term holders, but it is less liquid for active traders.

Wall St 19 analysts issued near-unanimous buy ratings, with targets as high as $800. Nasdaq even cut its 90-day index rule to 15 days, seemingly tailor-made for SPCX.

At first glance, broad-market funds seemingly offer similar exposure to the exact same underlying stocks. Various asset managers offer several heavyweight funds that claim to capture the broader market.

On a recent Animal Spirits podcast titled “Talk Your Book: How SpaceX Got Into the Nasdaq 100,” Invesco's Paul Schroeder dropped a statistic that should stop any growth investor mid-scroll.

SpaceX will join the Nasdaq-100 index on July 7, following the adoption of the new fast-track inclusion policy. SpaceX is likely to have a relatively modest 1% weighting in the index.

The first half of 2026 capped a historic stretch for the ETF industry. Despite global returns struggling and macro uncertainties sending equities down 0.9% in June, assets poured into U.S.-listed ETFs at an unprecedented rate.

The Invesco NASDAQ 100 ETF offers concentrated exposure to AI-driven CapEx growth, particularly among leading U.S. tech companies. QQQM stands to benefit from escalating AI infrastructure spending, with Amazon alone guiding for $200B in annual CapEx and peers following suit. Since inception, QQQM has delivered an 18.5% annual NAV return, slightly outperforming the larger QQQ ETF on a total return basis.

The math feels impossible at 30 with a near empty brokerage account. But $500 a month, roughly the cost of a weekly dinner-and-drinks habit, can compound into seven figures if you give it three decades and the right vehicles.

SpaceX SPCX is poised to become one of the fastest additions ever to the Nasdaq-100 index, triggering a new wave of demand from passive investors less than a month after its blockbuster public market debut. Nasdaq announced after the close on June 26, 2026 that SpaceX qualifies for inclusion in the technology-heavy benchmark.