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Invesco QQQ Doesn't Own a Single Bank, and That's Not the Only Thing the Nasdaq-100 Leaves Out

JPMorgan Chase and Wells Fargo each released third-quarter results on Tuesday, and the two banks made more than $21 billion between them. JPMorgan's net income grew 6% year over year to $15. 3 billion, and Wells Fargo's climbed around 6% to almost $6 billion. Investors in the Invesco QQQ Trust (NASDAQ:QQQ) didn't own a slice of either one. The popular exchange-traded fund (ETF) tracks the Nasdaq-100, and the index doesn't admit banks -- or any other company classified as financial, for that matter. And banks aren't the only thing missing. Some of the biggest companies in the U.S. stock market are absent for a reason that has nothing to do with what they sell.

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