The Invesco QQQ Trust (NASDAQ: QQQ) does exactly what it is meant to do and does it fairly well. But that's not the yardstick that investors need to use when evaluating this exchange-traded fund (ETF). The bigger question is whether or not the Invesco QQQ Trust adds any value to your overall portfolio. And the ETF's strong performance over the past year is not enough to make it a buy. Here's what you need to know.

The Invesco QQQ Trust is an index-based exchange-traded fund. That basically means it tracks an index in rote fashion. Whatever gets into the index is what's going to be in the ETF. So the real question here is: What index does the Invesco QQQ Trust follow? That index is the Nasdaq 100.

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Source Fool.com