The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.


ETF Expert

) -- There are plenty of analysts who have questioned whether


(GOOG) - Get Alphabet Inc. Class C Report

can sustain a double-digit growth rate going forward.

Yet the tech giant's 32% revenue burst in the current quarter not only quieted the naysayers, it sent share prices up 13% in a single trading session.

Not sure about those annoying click-through links? The average price paid per click on Google's network rose 12% over last year. Don't believe that the Google+ social networking plan can compete with Facebook? "G Plus" brought in 10 million newbies in its first two weeks!

Granted, the ultimate Internet information provider is still 6% below 2011 highs and roughly 23% off of its October 2007 peak. That said, those who declared Google a dinosaur may have been premature.

Here are seven of the more popular tech ETFs with their applicable Google weightings:

Based on the higher performance figures for Internet-related ETFs, one might leap to the conclusion that Google exposure had been a big reason for the boost. In actuality, Google gained 30% year over year, whereas FDN and PNQI packed on 46% and 52%, respectively. Even the Nasdaq 100 proxy,

PowerShares QQQ Trust Series

(QQQ) - Get Invesco QQQ Trust Report

has had a slight edge.

Google shares have been far more volatile than any of the above-mentioned ETFs over the past five years. Moreover, investors often prefer ETFs as a way of diversifying away from single stock risk.

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It follows that if Internet stocks scare you, you might not want to travel the subsector path; both FDN and PNQI have a great deal riding on Google,


(AMZN) - Get, Inc. Report



(EBAY) - Get eBay Inc. Report


On the flip side, exactly one year ago to the day, I offered,

"Three ETFs With Trend-Busting Street Credentials."

In the July 15, 2010 feature, I explained why First Trust Internet was on my "buy list."

Naturally, investing in an Internet ETF requires some belief in a 2.0 wave. Yet, more importantly, you need to manage your downside risk with stop-limit loss orders. Without an exit strategy, the most devout believer shrinks like a violet in a garden of roses.

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Disclosure Statement: ETF Expert is a website that makes the world of ETFs easier to understand. Gary Gordon, Pacific Park Financial and/or its clients may hold positions in ETFs, mutual funds and investment assets mentioned. The commentary does not constitute individualized investment advice. The opinions offered are not personalized recommendations to buy, sell or hold securities. At times, issuers of exchange-traded products compensate Pacific Park Financial or its subsidiaries for advertising at the ETF Expert website. ETF Expert content is created independently of any advertising relationships. You may review additional ETF Expert at the site.