The most highly traded ETFs have struggled the past month. SPDR S&P 500 (SPY) has held up best and is still within 1% of its all-time high. PowerShares QQQ (QQQ) is within 3% of its 52-week high. Small-cap iShares Russell 2000 (IWM) has fallen 6% below its all-time high. Two resurgent Internet technology megacap stocks drove SPY’s recent performance. Search giant Google (GOOGL) vaulted 27% higher in the past three months. It fell 5% in 2014. No.