Bryan McAllister’s personal reference notebook
July 27, 2026Short & citedBlog
Civic Viewpoint.
A quiet encyclopedia with a personal desk
Kept by Bryan McAllister — short guides, clear facts, and the Canadian angle when it matters.
Money & Work • Stock Market

Nasdaq-100

The Nasdaq-100 is a stock market index of the largest non-financial companies listed on the Nasdaq Stock Market.

Updated July 27, 20261 min readCited sources

The Nasdaq-100 is a stock market index of the 100 largest non-financial companies listed on the Nasdaq Stock Market. It is a market-cap-weighted benchmark for large-cap growth and technology stocks.

What it is

The Nasdaq-100 includes domestic and international companies, heavily weighted toward technology but also covering consumer services, healthcare, and industrials. It excludes financial companies, including investment companies and REITs. The index is free-float market-cap weighted, with rules that can cap the weight of the largest component.

Why it matters

Launched in 1985, the Nasdaq-100 has become a major benchmark for large-cap growth investing. It is widely tracked by ETFs, mutual funds, and other investment products. Canadian investors commonly encounter it through these vehicles, as many of its largest constituents are major global technology companies.

Key details

The index represents 100 issuers but can have more securities due to multiple share classes. Its ticker symbols are NDX and ^NDX. The Nasdaq-100 is distinct from the broader Nasdaq Composite, which includes a much larger set of stocks.

In short

  • Tracks 100 largest non-financial companies on Nasdaq.
  • Heavily weighted toward technology and innovative firms.
  • Widely used as a benchmark for large-cap growth investing.
  • Excludes financial companies and REITs.
Canadian angle

Canadian investors commonly encounter the Nasdaq-100 through ETFs, index funds, and U.S. equity market coverage, especially because many of its largest constituents are major global technology companies.

Quick questions

What is the Nasdaq-100?
It is a stock market index of the 100 largest non-financial companies listed on the Nasdaq Stock Market.
Does the Nasdaq-100 include financial companies?
No. Financial companies, including investment companies and REITs, are excluded.
Is the Nasdaq-100 the same as the Nasdaq Composite?
No. The Nasdaq-100 tracks 100 large non-financial companies, while the Nasdaq Composite includes a much broader set of Nasdaq-listed stocks.

Sources

  1. Nasdaq Indexes — https://indexes.nasdaqomx.com/Index/Overview/NDX
    Supports: Definition of the Nasdaq-100, its non-financial selection rule, and sector coverage.
  2. Nasdaq — https://www.nasdaq.com/docs/nasdaq-100-index-product-guide
    Supports: Overview of the index, its investment use, and positioning as a large-cap growth benchmark.
  3. Nasdaq — https://www.nasdaq.com/solutions/global-indexes/nasdaq-100
    Supports: Exclusion of financial companies and description of the index as 100 innovative Nasdaq-listed companies.
  4. Nasdaq — https://www.nasdaq.com/docs/2021/04/28/Nasdaq-100-Tracking-Innovation-Large-Cap-Growth.pdf
    Supports: Launch date, constituent-count explanation, and methodology context.
  5. SlickCharts — https://www.slickcharts.com/nasdaq100
    Supports: Current discussion of constituent securities count, sector mix, and market-cap weighting.