The Nasdaq 100 Index just entered a bull market. Which ASX ETFs benefited the most?

It's only May, but already this year, America's NASDAQ-100 Index (NASDAQ: NDX) has been in both a bear market and a bull market. The latter only just occurred.

If you need a refresher, a bear market is defined as a peak-to-trough drop of 20% or more for a flagship index from its most recent high. Between 19 February and 8 April, the Nasdaq 100 fell by 22.9%, marking its first bear market since the tightening tumble of 2022.

However, that bear market was short-lived. Since 8 April, the index has now rebounded by a rosy 24%, including last night's healthy 1.58% rise. Thanks to the strong gains we've seen this week, the Nasdaq 100 is now up 22% from that 8 April low. This means that the index has now entered a bull market, which is defined as a 20% rise from the most recent low.

But which ASX exchange-traded funds (ETFs) have benefited the most from the Nasdaq 100's new bull market? That's what we'll be diving into today.

The ASX ETFs benefitting from the Nasdaq bull market

The Nasdaq is one of two major stock exchanges that represent the US markets. The other is the New York Stock Exchange. The Nasdaq is well-known for hosting most of the major American tech companies, including the likes of Apple, Microsoft, Amazon, Alphabet, and Tesla.

When it comes to ASX ETFs, the most obvious candidate is, of course, the BetaShares Nasdaq 100 ETF (ASX: NDQ). This index fund mirrors the Nasdaq 100 index itself, minus some financial stocks. As such, those major US tech stocks make up a huge chunk of this ETF.

Since 2 April, NDQ units have joined the bull market and have risen by a healthy 6%.

This index fund also had a hedged iteration in the BetaShares Nasdaq 100 Currency Hedged ETF (ASX: HNDQ). This ETF is identical to NDQ, but mitigates the effects of currency movements using hedging. HNDQ units are up 21% from that 8 April low.

But this isn't the only ASX ETF that has benefited from the Nasdaq 100's return to bull market mode. Another fund that has ridden this index's coattails is the Global X FANG+ ETF (ASX: FANG). Instead of holding dozens of individual Nasdaq-listed stocks, this ETF holds just ten. However, nine of those then stocks are all Nasdaq heavyweights. There are all seven of the 'Magnificent Seven' tech giants, including those listed above. In addition, FANG also offers exposure to Netflix, Broadcom, and CrowdStrike Holdings.

Since 8 April, FANG units have vaulted 19% higher.

Those are the ASX ETFs that have seen the most gains as a result of the new bull market the Nasdaq 100 Index has entered into. However, since the Nasdaq's largest holdings are also the largest companies on the US markets, any US-based market ETF would have also benefited enormously. Let's see if this new bull market holds out for the rest of 2025.

The post The Nasdaq 100 Index just entered a bull market. Which ASX ETFs benefited the most? appeared first on The Motley Fool Australia.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Netflix, and Tesla. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, BetaShares Nasdaq 100 ETF, CrowdStrike, Meta Platforms, Microsoft, Netflix, Nvidia, and Tesla. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Broadcom and has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Betashares Nasdaq 100 ETF - Currency Hedged, CrowdStrike, Meta Platforms, Microsoft, Netflix, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2025