Is First Trust NASDAQ-100 Select Equal Weight ETF (QQEW) a Strong ETF Right Now?

QQEW, a smart beta ETF tracking the NASDAQ-100 Equal Weighted Index, has delivered 16.06% year-to-date returns and 17.43% over the past year with $1.91 billion in assets. The fund features a 0.55% expense ratio and medium risk profile (beta 1.08), with heavy exposure to Information Technology (54.7%). While it offers diversified exposure through 51 holdings, investors should consider cheaper alternatives like VUG (0.03% expense ratio) or QQQ (0.18% expense ratio) for lower-cost market cap weighted strategies.