There's nothing at all wrong with Invesco QQQ Trust (NASDAQ: QQQ). In fact, the exchange-traded fund (ETF) does exactly what it is supposed to do. That, however, is the problem, and why most investors probably shouldn't buy it. Here's why this ETF is great, but maybe still not a great investment.

Exchange-traded funds are very efficient at what they do, particularly when what they do is track an index. This is basically Invesco QQQ's goal -- track the Nasdaq-100 index, which is simply the 100 largest stocks on the stock exchange. There are expenses involved and other frictions, so the fund's performance can differ from that of the index, but the difference here is pretty minor over time. Since the fund's inception on March 10, 1999, it has an annualized return through the first three quarters of 2023 of 8.95%, versus the index's return of 9.17%. That's pretty darn close.

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Source Fool.com