Year-to-date, Invesco QQQ has maintained its outperformance against the S&P 500 Index, up 21.54% versus 18.54% on a total return basis — but what about the second quarter in particular? In Q2, QQQ’s total return performance (4.17%) lagged the S&P 500’s total return performance (4.30%) by 13 basis points. QQQ’s lack of financial holdings was a drag on performance relative to the S&P 500, as financials was the best performing Global Industry Classification Standard sector in the S&P 500, finishing the quarter up 7.99% (total return). Meanwhile, information technology was the biggest contributor to QQQ’s second-quarter performance, as well as the biggest contributor to QQQ’s relative performance against the S&P 500, as the sector is a significant overweight in QQQ.
13 technology names advanced by more than 10% (total return) for the quarter. From a single stock perspective, some of the largest individual positions in QQQ outperformed the S&P 500 Index for the second quarter, including Microsoft (MSFT), up 14.00%; Amazon.com (AMZN), which returned 6.34%; and Facebook (FB), which advanced by 15.78%.