How to Invest in the Nasdaq-100 from Singapore
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The Nasdaq-100 is more than just a stock market index — it’s the heartbeat of the global innovation economy. Comprising 100 of the largest non-financial companies listed on the Nasdaq exchange, it includes tech giants like Apple, Microsoft, Nvidia, Amazon, and Meta — companies that shape the way we live, work, and invest.
In 2025, with US tech stocks rebounding and AI, semiconductors, and cloud computing driving record earnings, Singaporean investors are increasingly looking westward to capture growth. But buying into the Nasdaq isn't as simple as opening a US brokerage account. From choosing the right investment vehicle to managing currency risk and tax exposure, there’s a lot to consider — especially if you want to do it efficiently from Singapore.
Whether you're a first-time investor looking to ride the long-term US tech wave or a seasoned trader seeking short-term exposure, this guide breaks down exactly how to get started. From ETFs and CFDs to robo-advisors and broker platforms, we’ll cover every realistic option available to Singapore-based investors in 2025 — along with the risks, costs, and platforms that matter.
What is the Nasdaq Index?
The Nasdaq-100 Index tracks the 100 largest non-financial companies listed on the Nasdaq exchange, making it one of the most innovation-heavy benchmarks in the world.
Unlike broader indices like the S&P 500, the Nasdaq-100 is tech-skewed — featuring companies at the frontier of AI, cloud computing, semiconductors, and e-commerce.
To qualify for inclusion, a company must:
- Be listed exclusively on the Nasdaq
- Have traded for at least three months
- Meet liquidity requirements of $5 million average daily trading volume
Financial firms like banks and insurers are excluded — which concentrates the index on sectors like tech, consumer discretionary, and healthcare. The index is modified market-cap weighted, so larger companies have more influence — but not disproportionately so.
What’s inside the Nasdaq-100
The Nasdaq-100 is heavily dominated by the technology sector, which accounts for over 62% of the index weight. Here’s the sectoral breakdown:
| Sector | Weight (%) |
|---|---|
| Technology | 62.25% |
| Consumer Discretionary | 17.02% |
| Healthcare | 5.95% |
| Industrials | 4.09% |
| Telecommunications | 3.87% |
| Consumer Staples | 3.34% |
| Basic Materials | 1.65% |
| Utilities | 1.20% |
| Energy | 0.44% |
Top 10 companies by weight:
- Apple – 8.75%
- Microsoft – 7.41%
- Nvidia – 6.32%
- Amazon – 5.25%
- Meta Platforms – 4.76%
- Broadcom – 4.44%
- Alphabet A – 2.49%
- Alphabet C – 2.42%
- Tesla – 2.37%
- Costco – 2.34%
How the Nasdaq-100 stays relevant
To ensure the index doesn’t become overly concentrated in a few mega-cap names, Nasdaq reviews and rebalances the index quarterly, with a full annual reconstitution each December.
Regular rebalancing:
Each quarter, weights are adjusted based on the modified market-cap formula. If any single company grows too large relative to others, its weight is trimmed.
Special rebalancing (last done in July 2023):
When the combined weight of stocks with over 4.5% individual weight breaches 48% of the index, Nasdaq triggers a special rebalance.
This was last done in 2023 to reduce reliance on Apple, Microsoft, Nvidia, Amazon, and Tesla. Their weights were cut, while others like Meta, Alphabet, Netflix, and Costco were increased.
Recent changes (December 2024 reconstitution):
- Added: Palantir (PLTR), MicroStrategy (MSTR), Axon (AXON)
- Removed: Illumina (ILMN), Super Micro Computer (SMCI), Moderna (MRNA)
These changes reflect a broader shift in investor focus — away from pandemic-era biotech and niche hardware, toward data intelligence, public safety tech, and digital finance.
High-growth, high-volatility
The Nasdaq-100 has earned a global reputation as a growth powerhouse, especially over the past decade.
Fueled by the meteoric rise of technology, e-commerce, and AI-driven businesses, it has consistently outpaced traditional benchmarks like the S&P 500, MSCI World, and STI.
Long-term performance (as of 2025):
| Time Period | Annualized Return |
|---|---|
| 10-year | ~17.2% |
| 5-year | ~17.7% |
| 1-year | ~10.8% |
If you had invested SGD 10,000 in the Nasdaq-100 ten years ago, your portfolio would now be worth over SGD 48,700, assuming reinvested returns. That’s the power of tech compounding.
But returns come with risk
The Nasdaq-100’s growth doesn’t come without turbulence. Its standard deviation sits at ~17.8%, notably higher than the S&P 500’s ~13.5%, indicating larger and more frequent price swings.
This makes it less suitable for ultra-conservative investors — but ideal for those with a higher risk tolerance and a longer time horizon.
Volatility in action: Annual returns snapshot
| Year | Nasdaq-100 Return | S&P 500 Return |
|---|---|---|
| 2024 | +10.8% | +8.3% |
| 2023 | +53.8% | +26.3% |
| 2022 | –33.1% | –18.1% |
| 2021 | +26.6% | +26.9% |
| 2020 | +47.6% | +16.3% |
These swings are a reminder that tech stocks can soar, but they can also tumble hard during downturns, as seen in 2022’s sell-off.
Why the Nasdaq-100 deserves a spot in your Singapore portfolio
Allocating capital to the Nasdaq-100 isn’t just about chasing past performance — it’s a strategic diversification move that offers exposure to global trends, foreign currency protection, and sectors missing from the local market. Here’s why it matters:
1. Exposure to the world’s innovation engine
Singapore’s Straits Times Index (STI) is dominated by banks (DBS, OCBC, UOB) and real estate-linked counters. While stable, it lacks high-growth sectors like artificial intelligence, cloud infrastructure, electric vehicles, and semiconductors — all of which anchor the Nasdaq-100.
Allocating to Nasdaq lets you participate in the upside of global megatrends — companies like Nvidia (AI chips), Amazon (e-commerce and cloud), and Tesla (EVs) are setting the pace of innovation.
2. Natural hedge through USD diversification
When you invest in Nasdaq-listed companies, you’re inherently exposed to the US Dollar (USD). This can act as a currency hedge if the Singapore Dollar weakens — a valuable feature during global economic uncertainty or regional downturns.
In times of crisis, USD typically strengthens, giving your Nasdaq holdings a defensive angle despite their growth profile.
3. Higher long-term growth potential vs local indices
Compared to the STI’s modest long-term returns (~5–6% annualized), the Nasdaq-100 has historically delivered 17%+ annualized returns over the past decade. While volatility is higher, the compounded growth over time is unmatched — ideal for investors with longer horizons and risk appetite.
4. Easier access than ever before
Gone are the days when investing in US markets was complex or expensive. In 2025, Singaporeans can gain Nasdaq exposure through:
- SGX-listed ETFs (e.g., Lion-Nasdaq-100 ETF, listed in SGD)
- US-based ETFs (like Invesco QQQ, via brokers like IBKR or Saxo)
- CFDs or options through platforms like IG and City Index
- Robo-advisors like StashAway, Syfe, and Endowus that offer global equity portfolios
Whether you're a passive investor or an active trader, the Nasdaq is now just a few taps away.
How to invest in the Nasdaq-100 from Singapore
Singapore investors today have unprecedented access to global markets. Thanks to low-cost brokerages, tax-efficient ETFs, robo-advisors, and MAS-regulated derivatives platforms, getting exposure to the Nasdaq-100 — the world’s leading tech growth index — is now easier, safer, and more customizable than ever.
Each investment method comes with its own pros, cons, and ideal use case. This section breaks down the three main pathways to investing in the Nasdaq-100 from Singapore, alongside tax strategies, currency risks, and platform recommendations.
1. Buy the Nasdaq-100 ETFs
Exchange-Traded Funds (ETFs) are the most direct, low-cost, and beginner-friendly way to invest in the Nasdaq-100. ETFs track the index by holding its underlying stocks and trade on exchanges like regular shares.
Depending on your priorities — cost, tax efficiency, or accessibility — there are three main types of Nasdaq-tracking ETFs available to Singapore investors:
A. US-listed ETFs (Direct, cheap, but tax-heavy)
If you want maximum liquidity and lowest cost, US-listed ETFs are the most straightforward option. These ETFs are listed on the Nasdaq or NYSE and are heavily traded by global institutions.
- Invesco QQQ Trust (QQQ): The most well-known Nasdaq-100 ETF, best suited for short-term or active investors due to its tight spreads and trading volumes.
- Invesco QQQM: A lower-cost version of QQQ designed for long-term holders, with an expense ratio of just 0.15% compared to QQQ’s 0.20%.
| Pros | Cons |
|---|---|
| Lowest expense ratios (as low as 0.15%) | 30% dividend withholding tax (no US-SG tax treaty) |
| High liquidity and tight spreads | Exposed to US estate tax above US$60,000 |
| Direct replication of the Nasdaq-100 index | Requires access to international broker platforms |
| Widely recognized and accepted globally | Dividend tax drag affects net yield for long-term investors |
Ideal for: Sophisticated investors who actively monitor portfolios and manage estate planning exposure separately.
B. Ireland-domiciled UCITS ETFs (The tax-smart option)
Ireland-domiciled UCITS ETFs are specifically structured to minimize tax leakage for non-US investors. They take advantage of the US–Ireland tax treaty, which reduces dividend withholding tax to 15%, and are not subject to US estate tax, regardless of portfolio size.
- iShares Nasdaq 100 UCITS ETF (CNDX)
- Invesco EQQQ UCITS ETF
- UBS Nasdaq 100 UCITS ETF (N100) – with a very low 0.13% expense ratio
| Pros | Cons |
|---|---|
| 15% dividend withholding tax via Ireland-US treaty | Slightly higher expense ratios than QQQM |
| No US estate tax exposure | May need brokers like Interactive Brokers, FSMOne, moomoo |
| Tax-efficient for long-term wealth and estate planning | Smaller fund size and less liquidity than US counterparts |
| Accumulating options reduce reinvestment costs | Pricing may differ due to EUR or GBP-denominated classes |
Example: For a S$100,000 portfolio yielding 0.60% in dividends, switching from a US-listed ETF to a UCITS ETF saves ~S$90/year in taxes — and avoids a potential six-figure estate tax.
Ideal for: Long-term investors, retirees, and those with wealth planning needs.
C. SGX-listed ETFs (The CPF/SRS-compatible, easy-access route)
If simplicity and local convenience are top priorities, SGX-listed Nasdaq ETFs offer an easy entry point. These are ideal for those investing via CPF Investment Scheme (CPFIS) or Supplementary Retirement Scheme (SRS).
- Lion-OCBC Securities Nasdaq-100 ETF (SGX: HST / HST USD): Tracks the index in SGD or USD. Expense ratio of 0.48%.
| Pros | Cons |
|---|---|
| Traded in SGD and USD via local brokers | Higher expense ratio (~0.48%) |
| Eligible for CPF and SRS | Lower liquidity and tracking error vs US/Ireland options |
| No US estate tax risk | Limited choice – only one direct Nasdaq ETF available |
| Simple to access via platforms like POEMS, FSMOne | Less cost-efficient over long term |
Ideal for: CPF/SRS investors and beginners who want a fuss-free local option.
2. Trade Nasdaq-100 CFDs
Contracts for Difference (CFDs) allow traders to speculate on price movements of the Nasdaq-100 index — without owning the actual stocks. They offer leverage, meaning you can control a larger position with a smaller amount of capital.
While CFDs offer flexibility (e.g., you can go long or short), they are high-risk and not suitable for long-term investing. Here are some of the CFD brokers that to explore in Singapore:
| CFD Broker | Typical Spread | Cost per S$20k Trade | Features |
|---|---|---|---|
| IG Markets | ~1.0 points | ~$0.50 | MAS-regulated, strong trading tools |
| CMC Markets | ~1.0 points | ~$0.50 | Clean UI, broad product suite |
| Saxo Markets | ~1.5 points | ~$0.70 | Premium tools, higher minimums |
| Plus500 | ~1.8 points | Variable | Beginner-friendly, higher overnight costs |
Warning from MAS: Up to 80% of retail investors lose money trading CFDs. Suitable only for experienced traders.
| Pros | Cons |
|---|---|
| Enables leveraged exposure (e.g., 5x or 10x capital) | Very high risk — up to 80% of retail investors lose money |
| Ability to go long or short on index movements | Overnight financing charges apply on leveraged positions |
| Access via MAS-regulated platforms like IG, Saxo, CMC | Not suitable for long-term investing or passive strategies |
| No ownership of underlying assets — faster execution | Spreads and commissions can erode short-term profits |
Ideal for: Active traders with high risk appetite and short-term strategies.
3. Buy unit trusts
While ETFs are the most direct way to track the Nasdaq-100, Singapore’s unit trust market offers indirect exposure through actively managed US and global technology funds.
Instead, technology-focused unit trusts are benchmarked against broader indices such as the MSCI World Information Technology Index or MSCI ACWI IT + Communication Services. This means they may include:
- Nasdaq-listed companies
- NYSE-listed tech firms
- Non-US technology companies for diversification
These funds are actively managed, and their holdings, sector weightings, and country exposures can change based on the manager’s strategy. Some notable unit trust funds available to Singapore investors that offer indirect exposure to Nasdaq-linked assets:
- JPM US Technology Fund (A Acc SGD)
- Eastspring Investments – Global Technology Fund
- Janus Henderson Global Technology Leaders Fund
- AB International Technology Portfolio
- Neuberger Berman 5G Connectivity Fund
- Polar Capital Artificial Intelligence Fund
- UOB United E-Commerce Fund
One of the key drawbacks of unit trusts is their higher cost structure compared to ETFs:
| Cost Component | Typical Range |
|---|---|
| Annual management fee | 1.5% – 2.0% |
| Total expense ratio | Up to ~1.8% |
| Sales charge | 0% – 5% (waived on some platforms) |
| Platform fee | Often waived on platforms like dollarDEX or FSMOne |
Over the long term, these higher fees can erode returns — especially when compared to passive ETFs tracking the Nasdaq-100 with expense ratios as low as 0.15%–0.30%.
| Pros | Cons |
|---|---|
| Professional, active fund management | Higher annual fees (1.5%–2.0%) compared to ETFs |
| Access via familiar banks or local platforms | No direct tracking of Nasdaq-100 |
| Eligible for SRS and Regular Savings Plans | Holdings may include non-Nasdaq, non-US names |
| Requires no brokerage setup or foreign currency transactions | Priced once daily – no intraday trading flexibility |
What are the fees and tax implications?
1. U.S. dividend withholding tax
The United States imposes a withholding tax on dividends paid to non-resident investors. The rate depends on where the ETF is domiciled:
| ETF Type | Withholding Tax Rate | Explanation |
|---|---|---|
| U.S.-listed ETFs (e.g., QQQ, QQQM) | 30% | No tax treaty with Singapore; tax is unrecoverable |
| Ireland-domiciled UCITS ETFs | 15% | Reduced under U.S.–Ireland tax treaty |
| SGX-listed ETFs (e.g., HST) | 0% at investor level | No direct U.S. dividend received by investor |
| Robo-advisors using U.S. ETFs | 30% | Applies at fund level if using QQQ/QQQM internally |
Over time, the difference between 15% and 30% withholding tax can materially erode dividend returns, especially for large portfolios or reinvested strategies.
2. U.S. estate tax
This is one of the most overlooked risks when holding U.S.-listed assets.
- Applies to non-U.S. persons (including Singaporeans)
- If total U.S.-situs assets (e.g., QQQ, U.S. stocks) exceed US$60,000, the estate may be taxed up to 40% on the amount above this threshold
- Applies even if the investor is not a U.S. resident
| Applies To | Risk Level | Exempt? |
|---|---|---|
| QQQ / QQQM (U.S.-listed) | High | No |
| Ireland UCITS ETFs | None | Yes – not considered U.S. assets |
| Robo-advisors using QQQ | Yes | Depends on fund structure |
| SGX-listed ETFs | None | Yes |
Ireland-domiciled ETFs are the safest choice for long-term wealth preservation. They completely avoid U.S. estate tax while providing Nasdaq exposure.
3. Capital gains tax in Singapore: 0%
One of the key advantages of being a tax resident in Singapore is that capital gains are not taxed.
This means any profit from buying and selling Nasdaq-related ETFs — regardless of domicile — is 100% tax-free at the local level.
Fee and tax comparison across investment channels
| Channel | Platform Fees | Fund Fees (TER) | Dividend Tax | Estate Tax Risk |
|---|---|---|---|---|
| U.S.-listed ETFs | US$0–5/trade | ~0.15% | 30% | Yes (above US$60k) |
| Ireland UCITS ETFs | US$1–5/trade | ~0.30% | 15% | No |
| SGX-listed ETF (HST) | S$0.10–25/trade | ~0.48% | 0% (investor level) | No |
| Robo-advisors | 0.4%–0.8% p.a. (all-in) | Varies (included) | 30% (fund level) | Yes (if QQQ held internally) |
| CFDs | 0.05–0.10% spread | N/A | N/A | No |
Platforms to buy Nasdaq-100 ETFs in Singapore (2025)
Investors in Singapore can access Nasdaq-100 index ETFs through various platforms, depending on the ETF type and domicile.
Below, we break down the best platforms by category – U.S.-listed ETFs, Ireland-domiciled UCITS ETFs, SGX-listed ETFs, and robo-advisors – and highlight their fees, account support, and key features:
| Platform | What You Can Buy | Typical Fees |
|---|---|---|
| Interactive Brokers | QQQ/QQQM (US), CNDX/N100 (UCITS), SGX ETFs | From US$1/trade, no custody fees |
| moomoo | QQQ/QQQM (US), SGX ETFs | 0% commission (≈ US$0.99/platform fee) |
| Tiger Brokers | QQQ/QQQM (US), SGX ETFs | From US$0.99/trade; 0.03% SGX commission |
| FSMOne | QQQ/QQQM (US), CNDX/N100 (UCITS), SGX ETFs | Flat US$3.80 (US), flat S$3.80 (SGX), 0% RSP fee for selected ETFs |
| Saxo Markets | QQQ/QQQM (US), UCITS ETFs (LSE), SGX ETFs | 0.08%, min US$1 (US), 0.08%, min £3 (LSE) 0.08%, min S$3 (SGX) |
| Standard Chartered | QQQ/QQQM (US), UCITS ETFs (LSE), SGX ETFs | 0.20% (SGX) (min S$10/US$10), 0.25% (all other exchanges), no custody fee |
| StashAway | Nasdaq 100 via flexible portfolio. Underlying ETF (QQQ) | Flat 0.3% single ETF portfolio |
| Syfe | QQQ via Core Equity100, SGX ETFs, DIY trading | 0.25–0.65% (robo), 2 free trades per month, US$1.49/trade after (DIY) |
| Endowus | Indirect Nasdaq via funds, CPF/SRS supported | 0.4% (CPF/SRS), 0.6% (cash), 0% sales charges |
Final thoughts
Investing in the Nasdaq-100 from Singapore is no longer reserved for seasoned investors with complex setups. Whether you're looking for long-term growth, passive diversification, or high-octane trading opportunities, there's now an option tailored to your goals, risk appetite, and platform familiarity.
For most Singaporeans:
- Use Ireland-domiciled ETFs for tax efficiency and estate protection.
- Consider SGX-listed ETFs if you're using CPF or SRS.
- Use robo-advisors like StashAway for convenience and automated rebalancing.
- Use low-cost brokers like IBKR or FSMOne if you're a hands-on ETF investor.
FAQ: Nasdaq-100 Investing from Singapore
Can I invest using my CPF or SRS funds?
Yes. You can use CPF and SRS to invest in the SGX-listed Lion-OCBC Nasdaq-100 ETF (HST). Robo-advisors like Endowus and StashAway also support SRS.
What’s the best platform for long-term investing?
For long-term, tax-efficient investing, Ireland-domiciled UCITS ETFs (like CNDX) on FSMOne or Interactive Brokers are ideal.
How do I avoid U.S. estate tax?
Avoid holding U.S.-listed ETFs like QQQ directly if your portfolio may exceed US$60,000. Use Ireland-domiciled UCITS ETFs or SGX-listed ETFs instead.
Are dividends taxed?
Yes. U.S.-listed ETFs are taxed 30% on dividends. Ireland-domiciled UCITS ETFs are taxed at 15%. SGX-listed ETFs typically have no withholding tax at the investor level.
Can I buy Nasdaq ETFs in SGD?
Yes. SGX-listed Nasdaq ETFs (like HST) are available in both SGD and USD share classes. Some platforms allow automatic currency conversion.
What's the minimum investment?
It depends on the platform. moomoo and FSMOne allow trades from just a few dollars, while robo-advisors like StashAway has no minimum deposit requirement.
Do I need to file any tax forms when buying U.S. ETFs?
Yes. When using platforms like IBKR, you'll need to submit IRS Form W-8BEN to benefit from the correct withholding tax rate. It’s a standard one-time process.
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