Best Nasdaq-100 ETFs for Belgians

Why invest in the Nasdaq-100?

The Nasdaq-100 is one of the most talked-about indices. That’s because it groups the giants of the digital economy. Unlike the S&P 500, which spreads across all sectors, the Nasdaq-100 leans heavily into tech, consumer brands, and communication companies.

Here’s why many Belgian investors are drawn to it.

You invest in innovation

Apple, Meta, Nvidia, Tesla... these companies have driven a lot of the market’s growth over the past decade.

It has delivered strong returns

‍The Nasdaq-100 index has outperformed broader indices like the S&P 500 over long periods. Though it also goes through steeper drops. Since its inception in 1971, its popularity has grown as tech companies have continued to generate significant returns for their investors. As you can tell in the graph below from Backtest, a €10,000 investment in the Nasdaq-100 in 2007 would have resulted in almost €160,000 in 2025. That's a staggering 16% average annual return.

We can see that the tech industry has been outperforming other sectors when comparing the historical performance of the Nasdaq-100 with the broader S&P 500. In contrast with the Nasdaq-100, the S&P 500 consists of approximately the 500 largest companies in the US from all industries. The comparison is shown in the graph below.

You spread your bets within tech

‍Instead of picking one company, you get a slice of 100 leading names. But there’s a catch: the index is concentrated in tech. So when tech stocks struggle, the Nasdaq-100 usually falls harder than a more balanced index like the S&P 500. This happened for instance during the dotcom crash in the early 2000s.

Best Nasdaq-100 ETFs

As a Belgian investor, you’ll want ETFs that are domiciled in Europe, listed on European exchanges, and denominated in euros when possible to avoid currency conversion fees.

Here are some of the best Nasdaq-100 ETFs available to Belgians that you can buy through a broker:

Invesco Nasdaq-100

• Total expense ratio (yearly cost): 0.30%
• ISIN: IE0032077012

The Invesco Nasdaq-100 UCITS ETF is one of the oldest and most popular Nasdaq-100 ETFs available to European investors. Known by its ticker EQQQ, it offers exposure to the 100 largest non-financial companies on the Nasdaq, dominated by U.S. tech giants like Apple, Microsoft, and Nvidia. Its long track record and strong liquidity make it a common choice for Belgian investors looking to capture the growth of the technology sector.

iShares Nasdaq-100

• Total expense ratio (yearly cost): 0.30%
• ISIN: IE00B53SZB19

The iShares Nasdaq-100 UCITS ETF, with ticker CNDX, is managed by BlackRock, the world’s largest ETF provider. It also tracks the Nasdaq-100 index and is known for its wide availability and strong daily trading volumes across European exchanges. With its reputation for reliability and investor trust, CNDX is a go-to choice for Belgians wanting simple exposure to U.S. innovation and technology.

Xtrackers Nasdaq-100

• Total expense ratio (yearly cost): 0.20%
• ISIN: IE00BMFKG444

The Xtrackers Nasdaq-100 UCITS ETF, ticker XNAS, is one of the cheapest ways to invest in the Nasdaq-100, with a total expense ratio of just 0.25%. It is offered by DWS under the Xtrackers brand. This accumulating ETF automatically reinvests dividends, making it especially tax-efficient for Belgian investors. For cost-conscious investors who value simplicity, XNAS is a compelling option.

Amundi Nasdaq-100

• Total expense ratio (yearly cost): 0.30%
• ISIN: LU1829221024

The Amundi Nasdaq-100 UCITS ETF, unlike the others, it uses synthetic replication, meaning it relies on swaps to track the Nasdaq-100 rather than directly holding all the underlying shares. While this doesn’t affect performance for most investors, majority prefer physical replication. LYMS is nevertheless a strong alternative, with competitive fees and the backing of a major European asset manager.

The downsides of the Nasdaq-100

As we’ve shown, the Nasdaq-100 is a solid index to invest in and has provided significant returns to investors over the years. However, it does have some downsides:

• You invest only in the US
• You leave returns from other countries on the table
• You invest in "only" 100 companies
• The Nasdaq-100 fluctuates a lot
• The tech industry may not outperform other industries in the future

You invest only in the US

The US stock market has performed exceptionally well during the last 30 years and has outperformed the rest of the world. This is visible in the graph below, which compares the performance of the American stock market through the S&P 500 to the performance of the rest of the world, measured by the MSCI World index.

But the past does not guarantee future returns. And it's a real possibility that this scenario won't repeat itself over the next 30 years. To protect yourself against a bad outcome for your savings, it's better to diversify beyond the US and invest in companies from all over the world.

You leave returns from other countries on the table

Countries such as China or Brazil have the potential to grow significantly over the next decades. If you invest only in the US through the Nasdaq-100, you leave aside all these sources of return coming from other countries.

You invest in "only" 100 companies

The companies in the Nasdaq-100 represent about 15% of the global stock market. This isn’t sufficient diversification. Solid investment returns can be achieved across different sectors and company sizes. Just like it pays off to diversify across multiple countries, it's a good idea to spread across different industries and not put all your eggs in one “tech” basket.

The Nasdaq-100 fluctuates a lot

Tech stocks are exciting. They move fast, break things, and grab headlines. But they also fluctuate a lot more than other types of investments. And that can be tough to handle.

The Nasdaq-100 is made up of big tech companies, which means it’s more volatile. In the first three quarters of 2022, it dropped by over 30%. That’s a big dip. Unless you’re comfortable with watching your investments swing wildly, it might not be the right fit for you. You need strong conviction to stay the course when things get rough. One way to manage this is through diversification. By spreading your investments across different sectors and regions, you reduce risk. For example, the MSCI World index includes over 1,500 companies from the US, Europe, Australia and other developed countries. It only dropped by 12% in the same period. That’s a big difference.

You can also add bonds to your portfolio for stability.

In the end, managing the risk of your investments helps reduce losses, and helps you sleep better at night.

Alternatives to the Nasdaq-100

Diversify across industries: the S&P 500

The S&P 500 is another index just like the Nasdaq-100 that is composed of the 500 largest American companies. Investing in the S&P 500 means you get exposure to a large section of the US economy as the index covers 80% of the total American market capitalisation. It's more diversified than the Nasdaq-100 but it's still concentrated in the US. Betting on a single country, no matter how dominant its market is at the moment, increases the likelihood of a bad outcome for your savings.

Global diversification: the Growth portfolio accessible through Curvo

An option for Belgian passive investors is to invest through Curvo. In particular, the Growth portfolio is a good alternative to the Nasdaq-100. It's composed of two broadly diversified funds, both offered by Vanguard:

• FTSE Developed All Cap Choice index (ISIN: IE00B5456744)
• FTSE Emerging All Cap Choice index (ISIN: IE00BKV0W243)

Investing the right way through Curvo

A portfolio built for you and your goals

When you sign up to the Curvo app, you answer a few simple questions about your goals and appetite for risk. Based on your answers, you're matched with a globally diversified portfolio of index funds. Each portfolio is made up of over 7,500 companies and has the right mix of stocks and bonds for you.

Set it and forget it with monthly investing

Put your investing on auto-pilot. You can set up automatic monthly contributions starting from €50. That way, you're building wealth every month without having to think about it.

No transaction tax

In Belgium, most ETFs come with a transaction tax between 0.12% and 1.32%. But the funds in the Curvo portfolios are exempt. That means you save money every time you invest.

Your money is safe

You sign up to Curvo securely through itsme. Your investments are safeguarded and overseen by the Dutch financial regulator. And if you ever need your money, you can withdraw it at any time. There are no exit fees.

The easiest way to passively invest in Belgium

We built Curvo to remove the headaches of investing. No confusing platforms, no picking funds yourself, no stress about taxes. Just smart, long-term investing that works.

Conclusion

Investing in the Nasdaq-100 can be rewarding. The index has outperformed many alternatives, and the ETFs available to you in Belgium make it easy to get started. But remember that past performance doesn't guarantee future results. Tech has been the winner for years, but that might not continue forever.

Before you invest, think about your risk tolerance. Can you handle a 30% drop without panicking? If not, consider adding other assets to your portfolio. Diversification across countries, sectors, and even bonds can help smooth out the ride. Whatever you choose, make sure it aligns with your financial goals and gives you peace of mind. That's what good investing is really about.