earnings calendar. As the season presses on, a large number of major index components will step up to the plate. For instance, when JPMorgan ( JPM) and Bank of America ( BAC) release their reports on during the second half of the week, investors holding the SPDR KBW Bank ETF ( KBE) will want to pay close attention. These two firms are top holdings of KBW, and on top of directing the fund's performances over the next week, they will likely provide clues as to how other major financial institutions fared during the opening months of 2011. Google ( GOOG) is another hotly anticipated household name that is on tap to report its quarterly earnings this week. On top of monitoring the performance of search, Android, and the company's various other branches and divisions, investors will likely have a close eye on how founder Larry Page is adjusting to his new role as the company's CEO. In the short time since taking over the reins from Eric Schmidt, Page has already generated plenty of attention from the media. Most recently, he made headlines when he announced a dramatic shake-up to the company's management structure. It will be interesting to see what else Page has in store. The company's performance and outlook for the rest of the year will heavily influence the popular First Trust Dow Jones Internet Index Fund ( FDN). Google accounts for close to 10% of the fund's total portfolio, making the search giant FDN's largest position. Following Google, earnings numbers from other top index constituents such as eBay ( EBAY) and Netflix ( NFLX) will make FDN an exciting fund to watch in the near term. However, this fund boasts qualities that make it attractive as a long-term bet as well.
With ample exposure to companies such as Google, Amazon ( AMZN) and eBay, I initially picked up FDN as a way to access the growing popularity of e-commerce during the holiday season. Over the past few years, however, I have watched the fund grow and evolve to become a stable long-term way to target our growing reliance on technology. Smartphones, tablet computers and laptops are becoming increasingly ingrained into our everyday lives and FDN provides investors with an opportunity to access the companies that make these gadgets essential. As we head through this current earnings season, FDN is a fund I encourage investors to keep a close watch on. Beyond this exciting time for the U.S. markets, however, this is an ETF that bodes well as a long-term stable way to access the growing popularity of the technology sector. Written by Don Dion in Williamstown, Mass.