The Betashares Nasdaq 100 ETF (ASX: NDQ) has been very popular with investors recently.
For example, according to CommSec data, the tech-focused exchange-traded fund (ETF) came third on the list of most traded ASX shares on its platform last week.
Furthermore, the vast majority of these trades were buys. The data shows that a whopping 78% of trades were buy orders from retail investors, with just 22% sell trades.
The good news for those buyers is that the Betashares Nasdaq 100 ETF has been in fine form this week, rising 4.5% over the period. Great timing from them!
As you can see below, after having its best January in 20 years, the ETF has now gained an impressive 10.5% since the start of the year.
Image source: Getty Images
Should I buy the Betashares Nasdaq 100 ETF?
If you take another look at the chart above, you'll see that although the ETF is up strongly this year, it is still trading meaningfully lower than its highs.
I believe that this indicates that it isn't too late for investors to put money into the ETF today. Especially with inflation starting to ease, interest rate hikes coming to the end of their cycle, and the quality on offer in the ETF.
When you buy the Betashares Nasdaq 100 ETF, you are buying a slice of the 100 largest non-financial companies on the famous NASDAQ-100 Index (NASDAQ: NDX). This includes the likes of Alphabet, Apple, Amazon, Meta, Microsoft, Netflix, and Tesla.
I feel that these are arguably some of the highest quality companies on the planet and have very bright long term growth prospects. And while it may take time for their shares to reach previous highs, I have little doubt they will eventually be scaling new heights and dragging the Betashares Nasdaq 100 ETF along for the ride.
All in all, I would be buying this ETF today if I were not already a unitholder.
