ETFs
Nvidia’s Eclipsing Apple Market Cap Threatens XLK ETF Overhaul (NVDA, AAPL)
One of the world’s largest tech ETFs appears poised for a shake-up after Nvidia Corp. catapulted past Apple Inc. in size.
Thanks to diversification rules, the $67 billion SPDR Technology Select Sector fund (ticker XLK) has been holding significantly fewer Nvidia shares for months now as the AI giant continues to soar. Currently, the chipmaker represents about 6% of the fund’s assets, compared to 21% for the S&P 500 Information Technology Index, leading XLK to significantly underperform this year.