As year end approaches, Google continues to outperform the broader market.

GOOG

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Google (GOOG) is up over 80% year to date compared to a 21% gain for the SPDR S&P 500 (SPY).  Despite concerns that the economic downturn and lower advertising spending would cause Google to stumble, the company has continued to deliver high single digit revenue growth and double digit earnings growth.

As the global economy begins to show signs of a recovery, Google is well positioned to benefit from the rebound and continues to strengthen its hand.   With an ever growing war chest of cash, Google recently announced acquisitions that will add to its core capabilities in online advertising.

Some clouds remain on the horizon for Google.  Despite hitting a 52 week high this week, Google’s share price is still well below the all time high set in 2007.  The company is also facing competitive challenges fromMicrosoft and Rupert Murdoch’s News Corp.

With an 8.6% portfolio concentration, the ETF with the largest Google exposure is the PowerShares Nasdaq Internet Portfolio (PNQI). The fund tracks an index of the largest and most liquid U.S.-listed companies engaged in internet-related businesses.

The Dow Jones U.S. Techology Sector Index Fund (IYW) has 7.3% of its portfolio in Google.  The iShares ETF tracks an index that measures the performance of the technology sector of the U.S. equity market, including companies from the software and computer services, and technology hardware and equipment industries.

The Technology Select Sector SPDR Fund (XLK) has a 6.4% portfolio weighting in Google.  The ETF tracks the Index that represents the technology sector of the S&P 500 Index.

For more ETF investing choices, see the ETF Directory for a complete list of Sector ETFs.