Invesco Canada Ltd. announced today changes to the risk ratings applicable to several of its Canadian exchange-traded funds (ETFs). The changes in risk rating are effective immediately and details are included in the following table.
The tech sector had a difficult year in 2022, as soaring inflation followed by rapidly rising interest rates brought the sector back down from the meteoric valuations it saw in 2021. The outlook for this year is still quite uncertain, with liquidity tightening and the impact of all of the Fed's rate hikes still largely unknown. The Invesco QQQ Trust (NASDAQ: QQQ) is a popular tech ETF because it owns many headline-grabbing tech stocks like Apple, Microsoft, Amazon, Alphabet, and Meta Platforms, just to name some of its largest holdings.
At 3.5%, we are officially back down to pre-pandemic levels on unemployment.