: Will an ETF immediately reflect a reconstitution of underlying index The fact sheet for QQQ etf says: The fund and the index are rebalanced quarterly and reconstituted annually So, if QQQ is just tracking the index,

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Will an ETF immediately reflect a reconstitution of underlying index
The fact sheet for QQQ etf says:

The fund and the index are rebalanced quarterly and reconstituted
annually

So, if QQQ is just tracking the index, and tomorrow AAPL drops out of nasdaq100, the ETF will not reflect that until the next quarter/year?

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