JP Wealth Management Closes the Door on QQEW. Should Retail Investors Follow Suit?
Key Points
Exited 126,339 shares of QQEW; estimated trade value ~$17.83 million based on quarterly average pricing
Quarter-end stake value dropped by $17.83 million, reflecting both trading activity and share price movement
Post-trade holding: 0 shares, $0 value
The QQEW stake previously accounted for 12.0% of the fund’s AUM as of the prior quarter
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On January 15, 2026, JP Wealth Management, Inc. disclosed in a Securities and Exchange Commission (SEC) filing that it sold out its entire position in First Trust Exchange-Traded Fund -First Trust Nasdaq-100 Select Equal Weight ETF (NASDAQ:QQEW), an estimated $17.83 million transaction based on quarterly average pricing.
What Happened
According to a filing with the Securities and Exchange Commission dated January 15, 2026, JP Wealth Management, Inc. fully liquidated its holding of 126,339 shares in First Trust Exchange-Traded Fund -First Trust Nasdaq-100 Select Equal Weight ETF. The estimated value of the trade was approximately $17.83 million, calculated using the average share price over the quarter. The fund’s quarter-end position in QQEW is now zero, with a total net position change of $17.83 million.
What Else to Know
JP Wealth Management, Inc. sold out its QQEW stake, which now represents none of 13F AUM.
Top holdings after filing:
- NYSEMKT:DFAC: $32.04 million (22.6% of AUM)
- NASDAQ:QQQM: $29.10 million (20.6% of AUM)
- NYSE:STEW: $27.36 million (19.3% of AUM)
- NYSE:TSI: $15.99 million (11.3% of AUM)
- NYSEMKT:PHYS: $14.19 million (10.0% of AUM)
As of January 14, 2026, shares of QQEW were priced at $141.00, up 12.94% over the past year; shares have underperformed the S&P 500 by 5.61 percentage points.
QQEW is 3.11% below its 52-week high; trailing dividend yield is 0.41%.
ETF Overview
| Metric | Value |
|---|---|
| Price (as of market close January 14, 2026) | $141.00 |
| Dividend yield | 0.41% |
| 1-year total return | 12.94% |
ETF Snapshot
- Investment strategy centers on tracking the Nasdaq-100 Equal Weighted Index, allocating assets equally across 100 of the largest non-financial companies listed on Nasdaq.
- The portfolio is broadly diversified, with holdings spanning major U.S. and international technology, healthcare, consumer, and industrial sectors, ensuring no single constituent dominates overall exposure.
- The fund is structured as an exchange-traded fund (ETF), offering daily liquidity and transparency.
The First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) provides investors with diversified exposure to the Nasdaq-100 by equally weighting each constituent, mitigating concentration risk inherent in traditional market-cap weighted indexes. The fund's disciplined approach appeals to investors seeking balanced access to large-cap growth equities without overexposure to the largest names. Its transparent structure, daily liquidity, and focus on equal allocation position it as a strategic tool for portfolio diversification within the U.S. equity market.
What This Transaction Means For Investors
This recent transaction by JP Wealth Management to entirely exit its position in First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) signals a shift in JP Wealth Management's strategy, but does this shift mean average investors should shift away from QQEW, too? Let's dig into it.
First, let's note that QQEW is the equal-weighted version of QQQ. This means that QQEW holds the same stocks as QQQ, but divides its holdings equally among all stocks that make up the Nasdaq-100, rather than weighting its components by market cap. In practice, this means that QQEW holds a smaller percentage of big tech giants like Nvidia, Microsoft, and Apple.
Performance-wise, it's not clear that the diversification offered by QQEW has paid off. QQEW has generated a total return of 42.1% over the last five years, versus a 105.4% total return from QQQ.
For retail investors trying to decide between QQEW and QQQ, the choice comes down to this: Does the diversification of QQEW outweigh the higher returns that have been generated by QQQ? At the end of the day, this is a question each individual investor needs to answer. For some, particularly more risk-averse investors, QQEW might be a better choice. For investors willing to take on higher risk, QQQ may be the right choice.
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Jake Lerch has positions in Nvidia. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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