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Opinions Mike Philbrick
TD Global Technology Leaders Index ETFTEC.TOPARTIAL BUYDec 07, 2023
Mike PhilbrickStock price when the opinion was issued
As of Jun 19, 2026. Market Open.
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It's similar to the Nasdaq. Peers are HXQ-T (lower MER) or (in the U.S.) XLK or QQQ. TEC holds FAANG plus MSFT, Mastercard and Visa, companies trading at price-to-sales between 7-18x. So, TEC relies on a lot of growth to pay you future returns. Think like Gretzky: Where's the puck going to be? What will be future performance of these holdings?
FOUR-T vs. TEC-T. He does not thing the level of assets is particularly challenging because of the implicit liquidity and the size of the markets for these. This is a significantly different approach. The tech world will favour the mega-caps. So TEC-T will probably outperform in the short term. FOUR-T is about the modernization of work. This is advanced robotics, cyber security, 3D printing and the cloud. He thinks in the longer term there should be some excess return that accrues to the things a little bit more targeted, but they will be very similar.
"Global", but 86% US. Large cap means the usual, dominant tech suspects as top holdings. Has run a long way, could be a correction short term. Be careful on position size. "Explore", not "core". Accumulate a little, see how it goes, get out if it turns against you.