除了长持龙头股以外，买并持有标普500指数和纳斯达克指数之外这两个ETF也是很好的选择，一方面省时间，另一方面回报超过上面两个指数(SPMO对标SPY, VGT对标QQQ).
第一个ETF是The Invesco S&P 500 Momentum ETF (SPMO). 过去1年，5年和10年累计投资回报分别为：29.77%，152.80%和314.11%.
第二个ETF是The Vanguard Information Technology ETF (VGT). 过去1年，5年和10年累计投资回报分别为：15.31%，139.78%和454.17%.
The Invesco S&P 500 Momentum ETF (SPMO) may be an attractive investment for several reasons, based on its structure, performance, and market positioning. Below are key points to consider when evaluating why to invest in SPMO, along with potential risks:
Reasons to Invest in SPMO
1. Momentum-Based Strategy:
• SPMO tracks the S&P 500 Momentum Index, which selects approximately 100 stocks from the S&P 500 with the highest “momentum score.” Momentum investing focuses on securities that have shown strong recent price performance, with the expectation that they will continue to outperform in the near term. This strategy can be particularly effective in bull markets or stable market conditions.
• The momentum score is calculated based on the 12-month price change (excluding the most recent month) and adjusted for volatility, favoring stocks with smoother price increases. This approach aims to capture stocks with persistent performance while mitigating some risk.
2. Strong Historical Performance:
• SPMO has outperformed the broader S&P 500 in various periods. For example, as of May 8, 2025, it returned 16.2% over the past year, 16.5% annualized over three years, and 22.2% annualized over five years, earning high grades (A) in its category (Large Blend).
• Since its inception in 2015, SPMO has shown significant capital appreciation, often rising twice as fast as the S&P 500 in certain years, particularly due to exposure to high-momentum sectors like technology and AI-related stocks.
3. High Ratings and Consistency:
• As of April 30, 2025, SPMO received a 5-star rating from Morningstar for both 3- and 5-year periods, based on risk-adjusted returns, placing it in the top 10% of 1,256 funds in its category. This reflects consistent performance and effective risk management.
• The fund’s methodology, which weights stocks by market capitalization and momentum score, has contributed to its ability to deliver strong returns during favorable
The Vanguard Information Technology ETF (VGT) is a compelling investment option for those seeking exposure to the technology sector. Below are key reasons to consider investing in VGT, along with potential risks, based on its structure, performance, and market positioning:
Reasons to Invest in VGT
1. Broad Exposure to the Technology Sector:
• VGT tracks the MSCI US Investable Market Information Technology 25/50 Index, which includes large, mid, and small-cap U.S. companies in the information technology sector, as classified under the Global Industry Classification Standard (GICS). With approximately 316 holdings, VGT offers diversified exposure to tech giants like Apple (16.07%–17.89%), Microsoft (13.05%–17.28%), and Nvidia (15.42%), as well as smaller tech firms, reducing single-stock risk.
• The fund’s heavy allocation to information technology (99.90%–100% of the portfolio) makes it an ideal vehicle for investors bullish on tech-driven trends like artificial intelligence (AI), cloud computing, and cybersecurity.
2. Strong Historical Performance:
• VGT has delivered robust returns, driven by the rapid growth of its top holdings and the broader tech sector. Over the past five years, it achieved a compounded average return of approximately 23.3%, turning a $10,000 investment into over $28,000. Over 10 years, a $10,000 investment grew to $60,684–$62,239, significantly outperforming broader market ETFs like the Vanguard S&P 500 ETF (VOO, $32,634–$34,622) and Vanguard Total Stock Market ETF (VTI, $31,002–$33,344).
• As of December 4, 2024, VGT’s year-to-date return was approximately 31.11%, and its 12-month return was 36.74%, reflecting strong momentum in the tech sector.
3. Low Expense Ratio:
• VGT’s expense ratio is among the lowest in its category at 0.09%–0.10%, meaning investors pay only $9–$10 annually per $10,000 invested. This is significantly below the industry average of 0.58% for similar funds and lower than competitors like the iShares U.S. Technology ETF (IYW, 0.39%). Low fees enhance long-term returns, especially for long-term investors.
• Vanguard recently announced a reduction in VGT’s expense ratio from 0.10% to 0.09%, further improving its cost efficiency.
4. High Rankings and Analyst Confidence:
• VGT holds a Zacks ETF Rank of 1 (Strong Buy), based on factors like expected asset class return, expense ratio, and momentum. It is consistently rated as a top choice for technology sector exposure.
• Morningstar places VGT in the lowest fee quintile among peers, and its portfolio is praised for cost advantages and alignment with investor interests.
5. AI and Tech Growth Tailwinds:
• The fund’s top holdings (Apple, Microsoft, Nvidia, Broadcom, Oracle) are leaders in AI, cloud computing, and semiconductor industries, which are expected to drive significant growth. The rapid adoption of AI technologies has bolstered VGT’s returns, and analysts see continued upside for tech companies fueling these trends.
• The Technology - Broad sector ranks highly (top 13%–38% among Zacks sectors), reflecting strong investor confidence in its growth potential.
6. Dividend Yield and Tax Efficiency:
• VGT offers a 12-month trailing dividend yield of 0.47%–0.64%, which more than offsets its low expense ratio and provides a small but meaningful income stream. Its low dividend yield also makes it tax-efficient for investors holding it in taxable brokerage accounts.
• The fund’s passive management and low turnover enhance tax efficiency, minimizing capital gains distributions.
7. Large Asset Base and Liquidity:
• With assets under management of $70.85 billion to $90.18 billion, VGT is the largest ETF targeting the Technology - Broad segment, ensuring high liquidity and tight bid-ask spreads. Its average daily trading volume (e.g., 783,126–1,030,593 shares) supports ease of trading.
• Vanguard’s reputation as a leading ETF provider adds credibility and stability to the fund.
Potential Risks
1. Concentration Risk:
• VGT’s top five holdings (Apple, Microsoft, Nvidia, Broadcom, Oracle) account for roughly 50% of the portfolio, making it sensitive to the performance of these mega-cap tech stocks. A downturn in these companies could disproportionately impact returns.
• The fund’s near-100% allocation to the tech sector means it lacks diversification across other sectors, increasing vulnerability to tech-specific downturns.
2. Volatility:
• VGT has a beta of 1.16–1.23 and a three-year standard deviation of 24.90%–26.57%, indicating higher volatility than the broader market. This makes it a medium-risk choice, unsuitable for risk-averse investors.
• The fund experienced a 14.04% loss year-to-date as of April 10, 2025, reflecting tech sector volatility, though it rebounded to a 31.11% gain by December 2024.
3. Valuation Concerns:
• Some analysts note that VGT has become expensive, with a P/E ratio of 24.34, potentially signaling overvaluation in the tech sector. Investors should be cautious about entering at peak valuations.
• The tech sector’s high growth expectations may not be sustainable long-term, as historical market returns average closer to 10% annually.
4. Macroeconomic Risks:
• External factors like rising interest rates, inflation, or trade policies (e.g., tariffs) could impact tech stocks. For example, a 2024 sell-off was exacerbated by concerns over tariff impacts on inflation, affecting VGT’s performance.
• A potential economic downturn could reduce demand for tech products and services, impacting VGT’s holdings.
