Is QQQ really an index ETF?

I’ve noticed this too much the past few weeks. While the VOO seems to closely track the S&P 500 through the day, I’ve noticed that Invesco’s QQQ can often be as much as 0.3% off the NASDAQ composite. But I always thought the QQQ was indexed off the NASDAQ. Am I wrong?

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You can not use two different statistical bases without at least minor friction.

Nasdaq composite index versus Nasdaq 100 index: QQQ tracks the Nasdaq 100 index, so yes, QQQ is an index ETF.

Nasdaq composite = common stocks listed exclusively on NASDAQ
Nasdaq 100 = 100 largest nonfinancial stocks on NASDAQ

(but the Nasdaq 100 will closely follow the Nasdaq composite)



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