VictoryShares launches Nasdaq next 50 ETF
Victory Capital Holdings (Victory Capital) has launched the VictoryShares Nasdaq Next 50 ETF (QQQN), which is now trading on the Nasdaq Stock Market.
QQQN offers exposure to the 50 stocks that are next in line for inclusion in the widely popular Nasdaq-100 Index (NDX) and seeks to provide investment results that track the performance of the Nasdaq Q-50 Index (NXTQ) before fees and expenses.
“We wanted to democratise access to an index of disruptive and innovative companies, helping to capture their potential early, well before they may grow to be tomorrow’s mega cap leaders,” says Mannik Dhillon, CFA, CAIA, President, VictoryShares and Solutions. “Our goal is to provide investors with cost-effective exposure to the next generation of innovators with the potential to graduate to the Nasdaq-100 Index.”
“Nasdaq is committed to creating powerful index strategies and methodologies that help investors access financial markets. This includes leveraging Nasdaq’s history of having the most innovative global companies listed on our exchange,” says Cameron Lilja, Vice President, and Head of Global Index Products at Nasdaq. “Our work with Victory Capital is essential in bringing groundbreaking ETF strategies to market through the VictoryShares platform.”
The Nasdaq Q-50 Index tracks the performance of the 50 securities that are next eligible for inclusion into the Nasdaq-100 Index. The Index includes the 50 largest, non-financial names ranked by market cap, that are not currently included in the Nasdaq-100 Index. The Nasdaq Q-50 Index has been live and proven for more than 10 years. Its methodology aligns with the innovation and growth focus behind the time-tested Nasdaq-100 Index, but with an emphasis on forward-thinking companies on the vanguard of market leadership and technological advancement.