The Nasdaq-100 tracks 100 large non-financial companies listed on Nasdaq. It spans technology, consumer businesses and healthcare, with a modified market-cap weighting. It is a widely followed gauge of large US growth companies.
History and development
The Nasdaq-100 began on January 31, 1985, grouping large non-financial Nasdaq-listed companies. That design distinguishes it from the broader Nasdaq Composite.
Its membership has evolved with computing, communications and internet businesses. The index's 1985 launch should not be confused with the earlier launch of the Nasdaq market or the Composite.
References: Nasdaq: 40th anniversary
Comparing charts on this board
The Nasdaq-100 is neither every US technology stock nor every Nasdaq-listed company. Compare it with the Nasdaq Composite to contrast large non-financial companies with a broader listed universe. Adding the semiconductor index helps distinguish chip-industry performance from the wider group represented by the Nasdaq-100.
A return gap versus the S&P 500 is a starting point for examining membership, sector exposure and weighting. The two indices share constituents, so they are not independent markets. If you also display bond yields, simultaneous movements are an observation, not proof of causation; announcement and earnings times provide the next layer of context.
Related charts: S&P 500 · NASDAQ Composite · SOX
Official references: NASDAQ 100 · NASDAQ 100