The two ETFs celebrated 3 months of history yesterday, as they were launched on October 13, 2020, as part of the Invesco QQQ Innovation Suite. The Suite offers investors a variety of investment structures and exposures that access the NASDAQ-100® Index and NASDAQ Next Generation 100 Index®.
“The Invesco QQQ Innovation Suite was launched to provide clients with more ways to access the growth fuelled by the innovative companies listed on the Nasdaq Stock Exchange,” said John Hoffman, Americas Head, ETFs & Indexed Strategies, Invesco. “We are pleased to see that the strong performance of the QQQM and QQQJ ETFs has resonated with investors and generated solid demand that allowed us to hit a $1 billion AUM milestone in just three months.”
The Invesco NASDAQ 100 ETF (QQQM) offers investors access to the global growth companies included in the NASDAQ-100 Index, the 100 largest non-financial companies listed on the Nasdaq Stock Exchange, at 5 basis point less than the Invesco QQQ ETF (QQQ).
The Invesco NASDAQ Next Gen 100 ETF (QQQJ) extends this concept further by offering access to the “next 100” non-financial companies listed on the Nasdaq, outside of the NASDAQ-100 Index, offering a mid-cap alternative to the large-cap NASDAQ-100 Index.
“Companies included in the NASDAQ-100 Index have historically shown a consistent commitment to reinvesting back into their business through Research & Development, often reinvesting a greater proportion of their sales to develop new technology that capitalizes on transformative, long-term themes in the marketplace,” explains Hoffman.
He continues, “Perhaps this is the reason why many of the positive technology-enabled solutions and medical advancements during the current crisis have been generated by companies included in the NASDAQ Indexes. Innovation has never been so important than at this period in time.”
Including the Invesco QQQ Innovation Suite, the Invesco US ETF line-up of 226 ETFs currently has over $300 billion in AUMi.
For more information about Invesco ETFs, please visit the dedicated website: https://www.invesco.com/us-etf/en/innovation-suite.html
This article originally appeared on ETFTrends.com.