BlackRock to launch low-cost Nasdaq 100 ETF to compete with Invesco’s QQQ
BlackRock is set to launch a new iShares Nasdaq 100 ETF (IQQ) as the world’s largest asset manager looks to capture continued demand for exposure to the technology-heavy index that has been boosted by the artificial intelligence rally.
The ETF is scheduled to begin trading on July 9 with an initial NAV of $24 per share. It will charge a 0.12% gross expense ratio, temporarily reduced to 0.1% through the end of July 2027.
The ETF will enter an increasingly competitive market alongside Invesco’s QQQ products and State Street’s recently introduced Nasdaq-100 fund.
With the new fund, BlackRock aims to offer investors a cost-efficient way to gain exposure to the Nasdaq-100 and companies benefiting from long-term trends such as AI and digitalization.
BlackRock said the fund expands its range of iShares investment options tied to the Nasdaq-100. The firm currently oversees more than $41 billion in assets across its existing Nasdaq-focused ETF products.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Sui trades near $0.72 as TD Sequential flashes buy signal, support zone in focus
On the eve of the 5% threshold, the U.S. Treasury sell-off presents a tough challenge for the market and the Federal Reserve
A sell-off in the bond market has pushed a key U.S. Treasury yield close to 5%, heightening concerns from Wall Street to Washington about the impact of rising borrowing costs on the U.S. economy.
McDonald’s Corporation stock hits 52-week low as dividend yield hits 6-year high
Crypto prices
More
