While second-quarter earnings season, which starts in earnest this month, could present challenges for risk assets, there are some potential positive signs that could emerge in July to the benefit of exchange traded funds such as the In(QQQ A-) and the Invesco NASDAQ 100 ETF (QQQM). One possible catalyst for QQQ and QQQM in July could be Google parent Alphabet (NASDAQ:GOOG), which as Schaeffer’s Investment Research quantitative analyst Rocky White noted, is historically the best-performing FAANG stock in the seventh month of the year. “Alphabet stock just landed on White’s list of the best performing stocks on the SPX in July, going back 10 years. In fact, the security saw positive monthly returns during this time period nine out of ten times, boasting an 8.9% pop on average, edging out Apple (AAPL) as the best FAANG stock to own next month,” according to the research firm. The two share classes of Alphabet combine for nearly 8% of the QQQ and QQQM portfolios. Perhaps adding to the allure of QQQ and QQQM with July here is the point that Apple (NASDAQ:AAPL) is also one of the best-performing members of the S&P 500 in the seventh month of the year. QQQ and QQQM follow the Nasdaq-100 Index, not the S&P 500, and that’s important because the Invesco ETFs devote 12.64% of their rosters to the iPhone maker. The potential for QQQ and QQQM to experience favorable seasonality this month doesn’t end with Alphabet and Apple. Several other Nasdaq-100 components enjoy reputations for strong July performances. Those include Costco (NASDAQ:COST), biotech giants Amgen (NASDAQ:AMGN) and Regeneron (NASDAQ:REGN), Comcast (NASDAQ:CMCSA), Verisk Analytics (NASDAQ:VRSK), and Fiserv (NASDAQ:FISV). To be precise, QQQ and QQQM are home to 102 stocks, indicating that a decent percentage of the ETFs’ rosters could be in for some favorable seasonality this month. After a grueling first half for growth stocks, investors would appreciate some relief. For more news, information, and strategy, visit the ETF Education Channel.