Is QQQ undervalued or overvalued right now?

We score all 100 QQQ holdings on current PE, forward PE, earnings growth and forward PEG, weighted by market cap. The composite - not any single metric - classifies the index as undervalued, fair or overvalued; macro factors and rates need separate consideration.

What is the difference between QQQ and QQQM?

Both track the same Nasdaq-100 index with identical holdings. QQQM has a lower expense ratio, making it better for long-term accumulation; QQQ has far higher volume and liquidity, better for trading and options.

What are the Nasdaq-100 top holdings and weights?

Mega-cap tech names - NVIDIA, Apple, Microsoft, Amazon, Broadcom - dominate, with the top 10 holdings making up roughly half the index. Weights are rebalanced quarterly.

What are forward PE and forward PEG?

Forward PE divides the current price by next-year expected EPS, reflecting future profitability. Forward PEG divides forward PE by expected earnings growth - below 1 is generally read as undervalued relative to growth.

How can you tell if the Nasdaq-100 is at a peak?

Price alone cannot tell you. We gauge overheating by how far the 100 holdings' forward PE and forward PEG sit above their historical averages. A cap-weighted forward PE well above average plus a high share of stocks with PEG over 2 signals a peak; the reverse signals a bottom.

When is a good time to buy QQQ?

There is no guaranteed timing, but the standard valuation-based approach is to scale in during undervalued zones (by forward PE/PEG) and slow new purchases when overvalued. For long-term DCA investors, consistency tends to matter more than timing - treat this dashboard as a position-sizing reference.

When should you buy leveraged ETFs like QLD or TQQQ?

QLD (2x) and TQQQ (3x) compound daily returns, so volatility decay and financing costs accumulate - entering in overvalued zones is riskier than with plain ETFs. The most-studied approach is staged entry in deeply undervalued zones after large drawdowns; you can verify historical outcomes in our leveraged ETF backtester.

Nasdaq-100 Peak · Bottom Valuation Dashboard

As of: 2026-07-28 · Market-cap-weighted valuation of all 100 Nasdaq-100 holdings, for QQQ · QQQM · QLD buy/sell judgment

⚠ Please read before using
This analysis judges valuation from financial data only - PE, forward PE, earnings growth and PEG. Key variables like macro conditions, geopolitical risk, tariffs, rates, FX and liquidity are not reflected at all. Treat this as one indicator among many; actual investment decisions should weigh the macro economy, rate environment and market sentiment - made comprehensively and at your own responsibility. This is not investment advice.

Current PE (TTM)

Trailing earnings

Forward PE

Estimated EPS

Next-Year EPS Growth

Analyst +1Y consensus

Forward PEG

<1 = cheap vs. growth

Top-10 Weight

Concentration

Two valuation lenses - vs. the Nasdaq-100 historical average PE of 24.5x

① Trailing earnings (TTM PE)

31.6x Slightly Overvalued

+29.0% above historical avg (overvalued)

Based on earnings already delivered - nothing forward-looking.

② Forward basis (growth-adjusted Forward PE)

23.8x Fair

-2.9% below historical avg (undervalued) · Forward PEG 0.88

Based on next-12-month expected earnings, reflecting analyst growth forecasts.

The current PE (31.6x) sits above the forward PE (23.8x) because the market has already priced in roughly 27.1% earnings growth over the next year. If EPS grows as expected, earnings catch up and today's elevated PE normalizes toward the historical average (24.5x) - convergence through earnings growth. If EPS falls short, that pre-priced optimism unwinds and convergence happens through a price decline instead.

QQQ Price (5 Years)

Nasdaq-100 ETF closing price

Verdict Distribution

Holdings by forward-PEG verdict

Top 10 Holdings

Actual QQQ weights (%)

Current vs. Forward PE

Top holdings compared

Sector Weights

QQQ sector composition

All Holdings - PE · Forward PE · Growth · PEG

Click a column to sort. Forward PE = price / estimated EPS. Growth% = analyst +1Y earnings-growth consensus

💡 Undervalued does not automatically mean the price will rise
A cheap valuation is no guarantee of rising prices. When pagers gave way to mobile phones, pager makers traded at a PE of 2 and a PBR of 0.2-0.5 - extreme value on paper. Yet as the market shifted to phones, most investors in those 'cheap' pager firms lost money. So never look at valuation alone: always check whether the company's sector is growing or declining (see the 'Sector Trend' column).

Ticker	Name	Weight%	7/28 Close $	PE	Fwd PE	Growth%	Sector Trend	ROE%	Fwd PEG	Mcap ($B)	Verdict

How to judge Nasdaq-100 peaks and bottoms
Price charts alone cannot tell you whether the Nasdaq-100 is peaking or bottoming. This page aggregates the forward PE and forward PEG of all 100 QQQ/QQQM holdings, market-cap weighted, to diagnose whether prices are rich (peak) or cheap (bottom) relative to earnings power. Use it as a reference when sizing QQQ positions or timing leveraged ETFs like QLD and TQQQ. Historical leveraged-ETF outcomes: Leveraged ETF Backtest; monetary-base bubble level: S&P 500 Bubble Gauge.

Methodology
- Forward PE = the average of the NTM (next 12 months) and next-fiscal-year (+1Y) estimates. They usually agree, but at semiconductor-cycle peaks NTM over-weights peak quarters and looks artificially cheap, so we buffer it with the fiscal-year basis. Hover a cell to see both values and the gap (warning if 80%+).
- Growth% = analyst +1Y earnings-growth consensus. This-year growth can spike hundreds of percent off cycle bottoms, so we use the normalized next-year figure.
- Forward PEG = forward PE / expected growth. Below 1 = cheap vs. growth; 1.5-2 is typical for growth stocks. (PEG assumes growth persists, so treat it as secondary for cyclicals.)
- Per-stock verdict: forward PEG first, then forward PE, then current PE.
- QQQ verdict: uses official index weights. PE/PBR use harmonic weighting (earnings summed first), matching official ETF figures.
- For reference only; not investment advice. Final decisions and responsibility are your own.