Split‑adjusted daily closes from Yahoo Finance, rebased to 100 on the anchor date. The horizontal axis is trading days since the anchor; the original window runs the full first two years of QQQ trading (March 10, 1999 to March 9, 2001), the second runs from March 10, 2025 through the most recent close. The dot‑com peak in late March 2000 — trading day 265 of the original window — is marked for orientation. Source: Yahoo Finance daily price history for QQQ.