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Friday, May 08, 2020

$100B In 21 Years

Reported by Neil Anderson, Managing Editor

A mutual fund giant's flagship ETF is crossing into 12-digit territory.

Lorraine Wang
Global Head of ETF Products and Research
This morning Lorraine Wang, global head of ETF products and research at Invesco [profile], confirms that Invesco QQQ has made it to the $100-billion-AUM milestone. The 21-year-old ETF is now the fifth largest in the U.S. (When Invesco celebrated the fund's 20th birthday last year, it had $66 billion and was the sixth largest ETF.)

The ETF tracks the Nasdaq-100 Index and, the Invesco team notes, was the second most traded ETF in the U.S. as of March 31.

QQQ (also known as the Cubes, the Qs, or the Qubes) launched on March 10, 1999 on the Amex. It moved to its index's namesake exchange in 2004 and added a fourth "Q". The fourth Q was removed in 2011, and in 2018, as Invesco streamlined its branding worldwide, the "PowerShares" name was dropped from the fund. 

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