Weekly Portfolio Update: 28 September to 2 October
Screen shot taken Monday 5th October 2026
Welcome back to Building Wealth Over Time.
Here’s my weekly portfolio update covering the period from 28 September to 2 October.
Overall, it was another positive week for the portfolio despite plenty of volatility in the market. The portfolio grew by 1%, which equated to £558.75, taking the overall value from £56,132.92 to £56,691.67.
There was no additional money invested this week, no major trades were made, and dividends weren’t included in the figures. All of the growth came purely from market performance.
Portfolio Snapshot
As mentioned, a lot of this week’s gains were driven by continued optimism around AI and spending on technology infrastructure.
Top Performers
The standout performer this week was SMGB (VanEck Semiconductor UCITS ETF), which rose by £326, representing a 3.78% gain.
That was followed by XLKQ (Invesco Technology S&P US Select Sector UCITS ETF), which gained £248.40, representing a 1.64% increase.
Between them, these two ETFs accounted for the majority of this week’s growth.
I also want to give another shout-out to my clean energy ETF, the First Trust Nasdaq Clean Edge Smart Grid Infrastructure ETF (FGRD).
The ETF delivered another strong week, rising by £49.12, which represented a 3.27% increase.
What’s particularly interesting for me is that the wider AI story is starting to go beyond just semiconductors and software companies. Investors are beginning to look at where all of this additional energy demand is going to come from.
As AI expands and data centres continue to consume more electricity, themes such as energy security, grid modernisation, energy distribution and alternative power sources are becoming increasingly important.
Why Did the Portfolio Perform Well?
Semiconductors Continue to Lead
SMGB benefited from renewed strength across the semiconductor sector, as investors remain focused on the long-term demand being created by AI and data centre expansion.
Semiconductors remain one of the key building blocks of the AI revolution, and that continued to support the sector this week.
Technology Stocks Remained Resilient
Technology stocks also remained resilient, which helped drive gains in XLKQ.
Despite ongoing concerns around valuations and the broader economy, investors continue to back large technology companies due to their earnings strength and leadership positions within AI.
AI and Energy Are Becoming Increasingly Connected
The strong performance of FGRD reinforces a trend I’ve mentioned in previous updates.
As data centres consume more electricity, more investment will be needed in power grids, energy distribution networks and wider electrical infrastructure.
Some of the major holdings within the ETF include:
Schneider Electric
Eaton
ABB
Quanta Services
Johnson Controls
These businesses are helping build the infrastructure needed to support future energy demand.
For me, AI is no longer just a technology story. It’s increasingly becoming an energy and infrastructure story as well.
Stocks That Lagged Behind
Not everything moved higher this week.
Meta declined by 3.05%, while Netflix fell by 5.67%.
Even so, the strength of the ETF positions more than compensated for these individual stock declines.
It also reinforced one of the key benefits of ETF investing.
When you invest in individual stocks, there’s often greater upside potential, but there’s also greater risk. With ETFs, you’re investing in a basket of companies. If one stock has a poor week, other holdings can help offset those losses.
That’s one of the reasons why ETFs continue to form the core of my portfolio.
What I Learned This Week
The biggest lesson this week wasn’t really about ETF selection or portfolio strategy.
It was more about the psychology of investing.
Over the last couple of months, there have been periods where some of my stocks and funds have fallen back, and I’ll be honest, there were times where I started questioning whether I needed to pause investing, or at least significantly reduce.
I found myself thinking:
“Should I change strategy?”
“Should I stop investing for a while?”
“Is Investing really going to build me wealth?”
Part of that comes down to life. We’ve all got bills to pay, and at the moment I’ve got a lot of expenses competing for my money. When markets are falling at the same time, it’s easy to start doubting yourself.
But I decided to keep going.
Looking back now, I’m glad I did.
As my portfolio starts moving in the right direction again and the numbers are becoming healthier, it’s reminded me that investing is often about consistency more than anything else.
A few months ago it was uncomfortable opening my portfolio and seeing positions sitting in the red. Now I’m starting to see things recover again, and it genuinely makes me feel more positive and excited about investing.
The lesson for me is simple:
Trust the process.
Stay consistent.
Keep investing if you can.
And remember that sometimes you’ve just got to weather the storm and push through the uncomfortable periods to get to the good ones.
ETF Spotlight: QQIA
The ETF I’ll be analysing this week is the Invesco Nasdaq 100 Income Advantage UCITS ETF (QQIA).
Over the past few weeks I’ve listened to several podcasts and watched a number of YouTube videos discussing this ETF.
I’ve been looking for alternative to the popular income ETF JEQP known as JEPQ in the US, which has become known for delivering attractive monthly income while maintaining exposure to large technology companies.
QQIA is still relatively new, so my research remains at an early stage. However, my first impressions have been positive.
What I Like
Forward yield of approximately 8.87%
Monthly income distributions
Exposure to leading Nasdaq 100 technology companies
Potential for capital growth alongside income
Potential Risks
Yields are not guaranteed and can fluctuate
Covered calls may limit upside during strong bull markets
The ETF has only recently launched and has a limited track record
Assets under management remain relatively small at around €9 million
Overall, QQIA looks like an interesting option for income-focused investors who want exposure to the Nasdaq 100 while also generating regular income.
I’m still researching it, but so far I like what I’m seeing and will be exploring it in more depth in a future post.
Final Thoughts
Another positive week and another step forward.
The portfolio added £558.75, but more importantly it reinforced a lesson that’s easy to forget during market downturns: consistency matters.
Some weeks will be great. Some weeks will be disappointing. Most wealth isn’t built from timing the market perfectly. It’s built from sticking to a plan and being consistently over a long period of time.
For now, I’ll continue focusing on my long-term strategy and letting time do the heavy lifting.
Thanks for reading.
Jason
Building Wealth Over Time
P.S I track everything using Snowball, which enables me to monitor my portfolio performance and stay accountable to my goals.
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