TOPT Holds 16% in NVIDIA Alone, and That Concentration Is Driving Its 11% Loss

iShares Top 20 U.S. Stocks ETF (NYSEARCA:TOPT) is down 11.06% year-to-date, and that slide traces directly back to the fund's defining feature: a portfolio so concentrated in a handful of mega-cap technology names that a bad stretch for those stocks is, by definition, a bad stretch for the fund. A Focused Bet on the Biggest Names in U.S. Markets TOPT tracks the S&P 500 Top 20 Select Index, holding exactly 20 U.S. companies ranked by market capitalization. The appeal is straightforward: own only the large ...