Nvidia Corp (NASDAQ: NVDA) shares are firmly back in favour. 

Yesterday, the world's second biggest listed company, Nvidia, delivered a better-than-expected first quarter earnings report. 

The chipmaker posted quarterly revenue of US$44.1 billion, up 69% year-over-year and 12% from the prior quarter. A record-setting performance from the data centre segment was behind the result, with revenue for the segment surging 73% from the prior year. 

Over the past three years, Nvidia has been at the forefront of the artificial intelligence (AI) revolution, with enthusiasts gathering at 'watch parties' to observe its quarterly results.  

However, the AI giant has had a bumpy start to 2025. Nvidia shares have faced concerns over Chinese start-up company DeepSeek, US tariffs, and, most recently, export controls. 

In April, Nvidia's share price reached a six-month low of $87. However, since then, the company has demonstrated a remarkable recovery, climbing around 50% from its April low. Anyone who bought in the April dip has been strongly rewarded. 

For those yet to invest or considering increasing their holding, the price today is far less compelling. Investors may remain bullish on Nvidia's prospects, but wonder if they've missed the boat due to its recent run. Alternatively, investors may remain concerned over the impact of export controls or tariffs.

Fortunately, there's a way for ASX investors to gain exposure to the US technology sector, with a sizeable amount of that investment being in Nvidia shares.

Global X Fang+ ETF (ASX: FANG)

Global X Fang+ ETF is an ASX-listed exchange-traded fund (ETF). For a management expense of 0.35%, investors gain exposure to companies at the cutting edge of the next generation of technology, including both established companies and newcomers. 

The FANG ETF includes 10 equally weighted companies, including Nvidia. That means roughly 10% of the fund is invested in Nvidia. This gives inventors exposure to other companies in the industry, including Netflix (NASDAQ: NFLX), ServiceNow (NASDAQ: NOW), Microsoft (NASDAQ: MSFT), and Apple Inc (NASDAQ: AAPL).

While this provides significantly higher diversification than investing directly in Nvidia, it is reasonably concentrated for an ETF. By comparison, the Vanguard US Total Market Shares Index AUD ETF (ASX: VTS) has over 3,000 holdings, and the Betashares Nasdaq 100 ETF (ASX: NDQ) has 100 holdings. While Nvidia is represented in these ETFs, it has a smaller weighting. An investment in these two ETFs is a less significant investment in Nvidia.

Alternatively, the FANG ETF's 10% weighting is meaningful. This is a good option for those who don't want to go all in but still want some exposure to Nvidia shares. Given the low management fee, it's a particularly good option for ASX investors who find all 10 holdings appealing.

How has the FANG ETF performed relative to Nvidia?

Nvidia shares have been among the best performers in recent years. Therefore, it won't come as a surprise that the FANG ETF has underperformed Nvidia shares over the past 5 years. 

At the time of writing, the FANG ETF is up nearly 200% over five years. While this performance is outstanding, it trails Nvidia's staggering 1,420% climb over the same time frame. 

However, investing is about the future. Those looking to take a more cautious approach may find the FANG ETF more compelling today.