The Nasdaq Composite is currently in its seventh bull market since 1990, having advanced 54% since this period began in April 2025. The index closed at 15,268 on April 8, 2025, which marked the start of the current bull market.
Since 1990, the Nasdaq Composite has returned an average of 71% during the first year of a new bull market and an average of 17% during the second year. Based on these historical averages, the index could reach 26,108 by April 8, 2026, representing an 11% increase from its current level of 23,515. By April 8, 2027, it might climb to 30,546, a 30% rise from current levels.
The Nasdaq Composite peaked at 20,173 on December 16, 2024. After trading sideways for several months, the index fell into bear market territory when President Donald Trump began announcing tariffs. It closed more than 24% below its record high on April 8, 2025. In hindsight, that low point marked the beginning of the current bull market.
Investors seeking exposure to the Nasdaq Composite have two index fund options. The Fidelity Nasdaq Composite ETF tracks the full index with an expense ratio of 0.21%. The Invesco QQQ ETF tracks the Nasdaq-100 index, which follows the top 100 nonfinancial companies in the broader Nasdaq Composite, with an expense ratio of 0.18%.
The top five holdings in the Nasdaq Composite are Nvidia at 11.5%, Apple at 10.2%, Microsoft at 9.1%, Alphabet at 8.9%, and Amazon at 6.3%. These same companies represent smaller percentages in the Nasdaq-100 index: Nvidia at 9%, Apple at 8%, Microsoft at 7.1%, Alphabet at 7%, and Amazon at 4.9%.
The Nasdaq Composite has delivered strong annual returns in recent years, adding 43.4% in 2023, 28.6% in 2024, and 20.3% in 2025. Historical data from the six previous bull markets since 1990 shows the index returned an average of 281% over an average duration of 1,817 days.