Industry classification of the components of the index per the Industry Classification Benchmark as of July 1, 2026[3]
  1. Technology (68.5%)
  2. Consumer Discretionary (16.5%)
  3. Telecommunications (3.46%)
  4. Health Care (3.56%)
  5. Industrials (3.13%)
  6. Consumer Staples (2.04%)
  7. Utilities (1.14%)
  8. Basic Materials (1.28%)
  9. Energy (0.45%)

The Nasdaq-100 is a stock market index made up of equity securities issued by 100 of the largest non-financial companies listed on the Nasdaq stock exchange. The Nasdaq-100 is often abbreviated as NDX,[4] NDQ, NAS100, or US100. The Nasdaq-100 index is a public float weighted, modified capitalization-weighted index,[2] with a maximum weight of 24% for the largest component.

Products linked to the Nasdaq-100 include index funds (exchange-traded funds/ETFs and mutual funds) as well as derivatives (options and futures contracts), which are available for trading in many countries with the goal of replicating the performance of the index. Also available are modified index funds; they replicate the performance of the index with modifications such as the use of covered call strategies, equal weighting, performance buffers, leverage, inclusion of only growth or value stocks, or exclusion of certain sectors, all with the goal of changing the risk/return and yield. Invesco QQQ, with approximately $500 billion in assets, has the highest average daily volume of all Nasdaq-100 ETFs. In total, there is approximately $1.4 trillion in assets tracking the index.[1]

History

The Nasdaq-100 was launched on January 31, 1985, by the Nasdaq.[5] It created two indices: the Nasdaq-100, which consists of industrial, technology, retail, telecommunication, biotechnology, health care, transportation, mass media and service companies, and the Nasdaq Financial-100, which consists of banks, Insurance companies, brokerage firms, and mortgage loan companies.

The base price of the index was initially set at 250. In January 1994, in advance of the launch of options trading on the index by the Chicago Board Options Exchange, the value of the index halved, similar to a 2-for-1 stock split, to make the index value below that of the Nasdaq Composite.[6]

In November 1998, the index's first "special rebalance" was performed; to make the index suitable for the basis of an exchange-traded fund, the index weights were modified away from market cap weights.[6] Special rebalances ensure that Nasdaq-100 index funds remain compliant with IRS diversification requirements for regulated investment companies,[7] which receive favorable tax treatment.[8]

Foreign companies were first admitted to the Nasdaq-100 in January 1998.[9]

In April 2011, Nasdaq triggered the second special rebalance due to increased concentration in the index, which was executed in May.[10][11]

In July 2023, Nasdaq triggered the third special rebalance, due to increased concentration in the index.[7][12]

Methodology

Entry to the index is determined by the Nasdaq Index Management Committee, which follows a strict, transparent, and rules-based methodology rather than a subjective selection process. Requirements to be added to the index include having a primary listing on the Nasdaq and an average daily traded value of at least $5 million. The index components are recalculated annually after the close of trading on the third Friday in December. The number of shares outstanding and public float of each component is updated quarterly.[2]

Performance

Record values

Category All-Time Highs[13]
Closing31,224.69Tuesday, October 6, 2026
Intraday31,361.37Tuesday, October 6, 2026

Annual returns

Annual returns have been as follows:[14]

Year Closing level Change in Index
in Points		 Change in Index
in %
1985132.29
1986141.419.126.89
1987156.2514.8410.49
1988177.4121.1613.54
1989223.8446.4326.17
1990200.53−23.31−10.41
1991330.86130.3364.99
1992360.1929.338.86
1993398.2838.0910.57
1994404.275.991.50
1995576.23171.9642.54
1996821.36245.1342.54
1997990.80169.4420.63
19981,836.01845.2185.31
19993,707.831,871.81101.95
20002,341.70−1,366.13−36.84
20011,577.05−764.65−32.65
2002984.36−592.69−37.58
20031,467.92483.5649.12
20041,621.12153.2010.44
20051,645.2024.081.49
20061,756.90111.706.79
20072,084.93328.0318.67
20081,211.65−873.28−41.89
20091,860.31648.6653.54
20102,217.86357.5519.22
20112,277.8359.972.70
20122,660.93383.1016.82
20133,592.00931.0734.99
20144,236.28644.2817.94
20154,593.27356.998.43
20164,863.62270.355.89
20176,396.421,532.8031.52
20186,329.96−66.46−1.04
20198,733.072,403.1137.96
202012,888.284,155.2147.58
202116,320.083,431.8026.63
202210,939.76−5,380.32−32.97
202316,825.935,886.1753.81
202421,012.174,186.2424.88
202525,249.854,237.6820.17

Closing milestones

List of 1,000-point milestones by number of trading days

Milestone (closing)[13] Date of Record (closing)[13] Trading Days[13]
1,000July 8, 19973,143
2,000January 11, 1999381
3,000November 18, 1999217
4,000February 8, 200055
5,000January 6, 20174,255
6,000September 13, 2017172
7,000January 26, 201893
8,000July 24, 2019374
9,000January 13, 2020119
10,000June 10, 2020103
11,000August 3, 202037
12,000August 31, 202020
13,000January 8, 202190
14,000April 15, 202166
15,000July 23, 202169
16,000November 3, 202172
17,000January 19, 2024554
18,000February 22, 202423
19,000June 5, 202472
20,000July 2, 202418
21,000November 7, 202490
22,000December 16, 202426
23,000July 17, 2025144
24,000September 12, 202540
25,000October 8, 202518
26,000October 28, 202514
27,000April 24, 2026122
28,000May 5, 20267
29,000May 8, 20263
30,000May 26, 202611
31,000October 5, 202691

List of 10,000-point milestones by number of trading days

Milestone (closing)[13] Date of Record (closing)[13] Trading Days[13]
10,000June 10, 20208,912
20,000July 2, 20241,021
30,000May 26, 2026475

Related indices are:

See also

References

  1. 1 2 "Assets and Liquidity in the Nasdaq-100 Ecosystem". Nasdaq. May 14, 2026.
  2. 1 2 3 "Nasdaq Index Methodology: Nasdaq-100 Index NDX" (PDF). Nasdaq. Nasdaq, Inc. April 30, 2026. Retrieved October 12, 2026.
  3. ↑ "About QQQ". Invesco.
  4. ↑ "NASDAQ-100 (NDX)". Nasdaq.
  5. ↑ "10 Fun Facts about the Nasdaq-100 Index". Nasdaq.
  6. 1 2 "The Nasdaq-100" (PDF). Nasdaq. April 28, 2021.
  7. 1 2 Shankar, Sruthi; Singh, Medha (July 11, 2023). "Explainer: What is Nasdaq's special rebalancing and its impact?". Reuters. Retrieved October 11, 2026.
  8. ↑ "It's Time to Modernize the RIC Tax Rules" (PDF). Investment Company Institute. November 14, 2024. p. 1. Retrieved October 11, 2026.
  9. ↑ "NASDAQ 100". CPRAM.
  10. ↑ Tahir, Mobeen (July 26, 2023). "What's Hot: What the NASDAQ 100's special rebalance does and does not mean for investors". WisdomTree Europe. WisdomTree. Retrieved October 11, 2026.
  11. ↑ "The NASDAQ-100 Index to Undergo a Special Rebalance" (Press release). New York: NASDAQ OMX Group. April 5, 2011. Retrieved October 11, 2026.
  12. ↑ "The Nasdaq-100 Index Special Rebalance to be Effective July 24, 2023" (Press release). New York: Nasdaq. Globe Newswire. July 7, 2023. Retrieved October 11, 2026.
  13. 1 2 3 4 5 6 7 "NASDAQ-100 (^NDX)". Yahoo Finance.
  14. ↑ "NASDAQ 100 (^NDX) historical data". Yahoo! Finance.
source: https://en.wikipedia.org/wiki/NASDAQ-100