US Technology Index ^NDX · NASDAQ
$26,629.81 -6.36% (-$1,807.36)
Summary
US Technology Index is a stock index: one number that says how a chosen group of companies is doing together. Companies in it: 101. The ten largest make up 47% of the index. An index cannot be bought itself; you buy a fund that tracks it, for example QQQ.
- Companies
- 101
- Ten largest
- 47%
- Rising today
- 14 of 101
- P/E of its companies
- 24.9
- Typical company, 1 year
- +9.3%
What speaks for it
- Average yearly growth over the last ten years: 19%.
- It is easy to buy through funds: QQQ, QQQM, EQQQ.DE.
What to watch
- The ten largest companies make up 47% of the index, so a few names move it.
- 60% of the index is in one sector (Technology).
- In the last five years it once dropped by 36% from its high.
An index has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. The valuation below is counted from the companies that make the index up.
Price
Performance
- 1 month
- -15%
- 3 months
- -9.3%
- This year
- +5.5%
- 1 year
- +6.0%
- 3 years
- +76%
- 5 years
- +63%
- 10 years
- +471%
- Avg. market cap
- $1.70T
- P/E
- 24.9x
- Forward P/E
- 24.4x
- P/S
- 5.7x
- P/B
- 7.5x
- P/FCF
- 32.1x
- EV/EBITDA
- 18.2x
- Dividend yield
- 0.63%
- ROIC
- 26.9%
- ROE
- 49.3%
- Gross margin
- 58.3%
- Operating margin
- 36.4%
- Net margin
- 21.0%
- Payout ratio
- 15.7%
- Net debt/EBITDA
- 0.3x
- Bulios Score
- 71
Weighted average of every company of the index (101). Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
Where is it within the last year?
Mid-range- Against the 50-day average
- -10%
- Against the 200-day average
- -4.8%
It is 15% below its highest and 17% above its lowest of the last year. The long-term trend points down: it is below its 200-day average.
How many companies are rising?
A mixed picture- Rising 14
- Flat 0
- Falling 87
- Above the 50-day average
- 47%
- Above the 200-day average
- 42%
- Up over a year
- 60%
- Typical company, 1 year
- +9.3%
Rising today: 14 of 101 companies. 42% of them are above their 200-day average. Over the last year a typical company of the index changed by +9.3%.
Which companies weigh the most?
Concentrated- 1 NVNvidia NVDA -9.3% 8.1%
- 2 AAApple AAPL -1.5% 8.0%
- 3 MSMicrosoft MSFT -3.6% 6.2%
- 4 MUMicron MU -17% 4.6%
- 5 AMAmazon AMZN -2.2% 4.1%
- 6 AMAMD AMD -17% 4.0%
- 7 TSTesla TSLA -11% 3.3%
- 8 MEMeta META -4.0% 2.9%
- 9 SPSpaceX SPCX -9.0% 2.7%
- 10 GOAlphabet GOOGL -2.2% 2.6%
The ten largest make up 47% of the index. Companies in all: 101.
Composition by the holdings of QQQ as of Oct 31, 2026.
How is it spread?
| Sector | Weight | Today | 1 month |
|---|---|---|---|
| Technology | 60% | -9.2% | -21% |
| Consumer cyclical | 10% | -5.2% | -0.9% |
| Communication services | 10% | -2.5% | -14% |
| Consumer defensive | 6.4% | 0.0% | +16% |
| Industrials | 5.6% | -5.8% | -11% |
| Healthcare | 4.6% | -3.5% | +16% |
| Utilities | 1.1% | -1.3% | -2.0% |
| Basic materials | 1.0% | -0.7% | +6.4% |
| Energy | 0.5% | -4.5% | -11% |
| Financials | 0.2% | -2.1% | +8.0% |
Largest sector: Technology (60%). Best over the last month: Consumer defensive (+16%).
By company size
- Mega cap 76%
- Large cap 24%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M.
Largest size group: Mega cap (76%).
How has it done?
Growing over the long run- A year on average, 10 years
- +19%
- Deepest drop
- -36%
- Yearly volatility
- 21%
Average yearly growth over the last ten years: 19%. Deepest drop in these years: 36% below the earlier high.
Who joined and who left?
- + Added Moderna - Removed Warner Bros. Discovery
- - Removed Kraft Heinz
- - Removed Electronic Arts
- + Added SpaceX
- + Added Honeywell Aerospace Inc
- + Added Rocket Lab USA - Removed Verisk Analytics
The last change was on Oct 9, 2026.
How expensive are its companies?
Usual valuation- P/E of the companies inside
- 24.9
- Average Bulios Score
- 71 out of 100
Weight by Bulios Fair Price
- Undervalued 10%
- Fairly valued 3.8%
- Overvalued 86%
On average the companies inside trade for 24.9 times their yearly profit. By Fair Price, 86% of the rated weight comes out as overvalued.
Counted from every company of the index (101). Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
How do I buy it?
Funds that track this index. They differ in where they are domiciled, what they cost and whether they pay dividends out.
| Fund | Domicile | Size | 1-year change | Dividends | |
|---|---|---|---|---|---|
QQ QQQ Invesco QQQ Trust | United States | 0.18% | $464.3B | +5.8% | Pays out |
QQ QQQM Invesco NASDAQ 100 ETF | United States | 0.15% | $76.7B | +6.0% | Pays out |
EQ EQQQ.DE Invesco EQQQ Nasdaq-100 UCITS ETF | Ireland | 0.30% | $20.6B | +11% | Pays out |
