Invesco

What Invesco does

Invesco Ltd. is an independent, publicly traded global asset management firm (NYSE: IVZ), founded in 1935 and headquartered in Atlanta, with Bermuda incorporation as the parent holding company. The firm manages $2.2 trillion in assets under management as of March 2026 across institutional and retail channels in 120+ countries, distributed through financial advisors, broker-dealers, RIAs, wirehouses, bank trust departments, and dedicated institutional sales teams. Its core products span a broad suite of ETFs, mutual funds, closed-end funds, fixed income, factor and thematic strategies, and increasingly tokenized/digital asset products.

Invesco's flagship product is the Invesco QQQ Trust (QQQ), a Nasdaq-100 tracking ETF with $481 billion in AUM that is the world's second-most traded ETF, complemented by the lower-cost QQQM ($99B+ market cap) — together representing over $570 billion in AUM. The firm operates an extensive library of sector ETFs (semiconductors, aerospace & defense, pharmaceuticals, banking, healthcare), factor ETFs (equal-weight S&P 500, quality, momentum, multi-factor), thematic ETFs (AI/next-gen software, technology momentum, robotics, solar), and fixed-income ETFs (BulletShares target-maturity series, municipal bonds, variable rate). Technology infrastructure includes proprietary synthetic (swap-based) index replication, with the European extension Invesco Markets V ICAV administered via Northern Trust, and a new tokenized government money market fund (Invesco Stablecoin Reserves Onchain Fund) issuing ERC-20 tokens on public blockchain infrastructure via Superstate's FundOS platform.

The business model is asset-management-fee based, with revenue generated primarily through expense ratios and advisory fees on AUM. Q1 2026 delivered 14% year-over-year net revenue growth and 19.1% operating margin, with 11 consecutive quarters of positive organic growth. Subsidiary structure spans North America, Europe, Asia Pacific, and the Middle East, including Invesco Management S.A. (Luxembourg), Invesco Asset Management (Japan) Limited, Invesco Advisers Inc., and Invesco Asset Management Limited DIFC Branch. The company has a track record of bolt-on M&A (OppenheimerFunds in 2018, Source ETF in 2017, Jemstep in 2016, Asia Dragon in 2025) and is now expanding into private markets under a dedicated Global Head.

Name

Invesco

Legal name

Invesco Ltd.

Website

https://invesco.com

Company type

Public

Founded year

1935

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Invesco is a global independent asset management firm offering ETFs, mutual funds, and alternative investments to institutional and individual investors across 120+ countries, with $2.2 trillion in AUM and the flagship QQQ Nasdaq-100 ETF.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector & Industry Equity ETFs (FSAAAFAC)

Keywords

• Asset management
• Exchange traded funds
• Investment management
• Wealth management
• Mutual funds

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices29 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Asset Management Fees: Invesco generates revenue primarily through management fees charged on assets under management (AUM). The firm charges expense ratios on ETFs and mutual funds, with fee structures varying by product (e.g., QQQ at 0.18-0.20% expense ratio, QQQM at lower rates). As of Q1 2026, ETF and Index AUM reached $638 billion with record overall AUM of $2.2 trillion.
2. Investment Advisory Services: Revenue from advisory fees for institutional and individual investor mandates, including separately managed accounts, model portfolios, and investment consulting.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Invesco is an independent global asset manager that delivers investment products and services across ETFs, mutual funds, closed-end funds, separately managed accounts, and alternative investments. The firm manages $2.2 trillion in assets under management on behalf of institutional clients (sovereign wealth funds, pension funds, insurers, foundations), financial advisors and broker-dealers, and individual investors across 120+ countries. Its flagship offering is the Invesco QQQ Trust tracking the Nasdaq-100 Index, supported by extensive sector, thematic, factor, and fixed income ETF ranges plus regional mutual fund franchises.

Product overview

Invesco offers a comprehensive suite of investment products spanning ETFs, mutual funds, closed-end funds, fixed income, and alternative investments. The core ETF products include the flagship Invesco QQQ Trust (QQQ) and QQQM tracking the Nasdaq-100 Index, alongside an extensive library of sector-specific ETFs (semiconductors, aerospace & defense, pharmaceuticals, banking, financials, technology, healthcare, utilities), factor-based ETFs (equal-weight S&P 500, quality, momentum, small-cap revenue, multi-factor), thematic ETFs (AI & next gen software, technology momentum, solar, robotics), and fixed income products (BulletShares target-maturity bond ETFs, California municipal bonds, variable rate investment grade). The India operations offer region-specific mutual funds covering large-cap, mid-cap, small-cap, and sector-specific strategies. The product architecture supports various investor needs from core index exposure to sophisticated factor and thematic strategies across global markets.

Differentiator

Problem solved

Functional benefit

Brands

• QQQ Innovation Suite: Nasdaq innovation ETFs offering access to disruptive tech, iconic brands, and smart diversification across US large- and mid-cap equities.
• BulletShares
• Smart Beta
• CollegeBound 529

Products and services

• Invesco QQQ Trust (QQQ) Tracks the Nasdaq-100 Index, providing concentrated exposure to 103 large-cap technology and growth companies. One of the world's largest and most traded ETFs with approximately $481 billion AUM at a 0.18-0.20% expense ratio.
• Invesco NASDAQ 100 ETF (QQQM) Lower-cost companion to QQQ tracking the same Nasdaq-100 Index with a lower expense ratio, designed for long-term investors. Delivered 15.0% average annual return over five years with $99 billion market capitalization.
• Invesco Semiconductors ETF (PSI) Semiconductor sector ETF holding $1.995 billion in net assets across 33 positions, including MaxLinear, AMD, Broadcom, and Nvidia. Surged 102.37% in 2026.
• Invesco PHLX Semiconductor ETF (SOXQ) Semiconductor sector ETF offering exposure to US semiconductor companies.
• Invesco AI and Next Gen Software ETF (IGPT) AI-focused thematic ETF returning approximately 69% year-to-date as of mid-2026, providing exposure to artificial intelligence and next-generation software companies.
• Invesco Dorsey Wright Technology Momentum ETF (PTF) Technology momentum strategy ETF returning nearly 72% year-to-date as of mid-2026, with memory and data storage companies among top holdings.
• Invesco Aerospace & Defense ETF (PPA) Aerospace and defense sector ETF with $8.36 billion AUM following the SPADE Defense Index with quarterly rebalancing.
• Invesco KBW Bank ETF (KBWB) Bank sector ETF using a cap-weighted approach focused on 26 large-cap banks, outperforming competitors over the past year with 32.80% return.
• Invesco S&P 500 Equal Weight ETF (RSP) Equal-weight approach to S&P 500 stocks, giving each company roughly 0.2% of the portfolio regardless of size. Has outperformed the market-cap-weighted S&P 500 for most of the past two decades.
• Invesco High Yield Equity Dividend Achievers ETF (PEY) Smart beta fund tracking NASDAQ US Dividend Achievers 50 Index, focused on 50 stocks selected for dividend yield and consistent dividend growth. Has $1.11 billion in AUM with 4.29% trailing dividend yield.
• Invesco S&P 500 Momentum ETF (SPMO) Momentum-focused S&P 500 ETF delivering 20.7% average annual return over five years, outperforming the broader market by 9.53% annualized.
• Invesco BulletShares Corporate Bond ETFs BulletShares target-date corporate bond ETFs including BSCA (2036 maturity) and BSTV (2031 maturity), offering defined maturity exposure with corporate bond diversification.
• Invesco California AMT-Free Municipal Bond ETF (PWZ) California-focused municipal bond ETF offering 3.6% tax-free distribution yield equivalent to over 7% taxable for top-bracket California residents. Maintained uninterrupted monthly distributions since November 2007.
• Invesco Variable Rate Investment Grade ETF (VRIG) Floating-rate investment-grade debt ETF offering 4.7% yield with low duration of 0.16 years.
• Invesco Asia Dragon Trust (IAD) Closed-end trust formed through merger of Invesco Asia Trust and Asia Dragon Trust, acquiring approximately £544m of assets. Traded under ticker IAD with retained industry veterans Matthew Dobbs and James Will on the board.
• Invesco India Funds India-focused mutual funds including Invesco India Financial Services Fund (18.3% 3-year CAGR), Invesco India Midcap Fund (25.3% 3-year CAGR), and Invesco India Large & Mid Cap Fund (23.5% 3-year CAGR).
• Invesco Solar ETF (TAN) Solar energy sector ETF providing exposure to solar industry equities.
• Invesco American Franchise Fund US equity mutual fund posting benchmark-outperforming returns in Q1 2026 with reduced consumer cyclical exposure and AI supply chain allocations including Amphenol.
• CollegeBound529 Education savings plan program offered by Invesco to support tax-advantaged college savings for individual investors.
• Invesco Stablecoin Reserves Onchain Fund Tokenized government money market fund designed for stablecoin issuers seeking compliant, yield-bearing reserve assets under the GENIUS Act framework, issuing ERC-20 tokens on a public blockchain via Superstate's FundOS platform with 24/7 settlement and real-time proof-of-reserves.
• Invesco Markets V ICAV Irish-domiciled index tracking mutual fund range extending Invesco's swap-based synthetic index replication approach from ETFs to mutual fund investors in Europe through investment platforms and institutional channels.
• Invesco Pharmaceuticals ETF (PJP) Pharmaceutical sector ETF with $358.7 million AUM, distributing risk across 29 companies including Eli Lilly, Abbott Laboratories, and Liquidia. Delivered 49.90% one-year return.

Quantifiable outcome

• QQQ delivered 30.0% one-year return with $481 billion in AUM as of July 2026
• +1 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Northern TrustcoreTechnology or IntegrationNorthern Trust has been appointed to provide administration, custody, and depositary services for Invesco's new Irish-domiciled index tracking mutual fund range, Invesco Markets V ICAV. The mandate extends Northern Trust's existing relationship with Invesco, building on its support for Invesco's synthetic ETF platform and digital assets platform. The new fund range extends Invesco's swap-based synthetic index replication approach from ETFs to mutual fund investors in Europe through investment platforms and institutional channels.
• SpaceXminorOthersSpaceX was added to the Nasdaq-100 index on July 7, 2026, triggering mandatory rebalancing by ETFs tracking the index. Invesco's QQQ and QQQM funds must purchase SpaceX shares, estimated at approximately $4.3 billion in forced buying according to J.P. Morgan. SpaceX will carry approximately 1% weight in the index due to its small free float (3-5% publicly traded).

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• WisdomTree: Mid-cap ETF specialist offering competing equity, sector, and thematic ETFs that overlap directly with Invesco's PSP, PPI, and other sector/thematic products.
• Fidelity Investments: Direct competitor in ETFs (Fidelity Nasdaq-100 ETF QQQM-rival), mutual funds, and institutional asset management. Overlapping product suite across active, passive, and thematic funds.
• ProShares: ETF issuer with significant overlap in thematic and leveraged/inverse ETFs (e.g., QQQ-related products). Direct competitor in the leveraged/thematic Nasdaq-100 ETF space adjacent to Invesco's flagship.
• T. Rowe Price: Publicly traded global asset manager (TROW) with overlapping active equity, fixed income, and ETF product lines. Comparable in scale of traditional active asset management competing for the same institutional and retail flows.
• Charles Schwab (Schwab Asset Management): Issuer of Schwab ETFs (e.g., SCHB, SCHD) and a major wealth-management distribution channel. Competes in the same ETF and mutual fund categories as Invesco and shares the financial advisor distribution channel.
• Franklin Templeton: Publicly traded global asset manager (BEN) with overlapping ETF and mutual fund lineup. Franklin Templeton's push into tokenized money market funds (BENJI) directly parallels Invesco's stablecoin reserves fund strategy.
• State Street (SSGA): Major ETF issuer (SPY) and asset manager. Directly comparable given State Street's recent entry into Nasdaq-100 ETFs, intensifying competition with Invesco's flagship QQQ franchise.
• Vanguard: Mutual fund and ETF giant known for low-cost index funds. Competes directly with Invesco QQQM in the low-fee Nasdaq-100 space and overlaps across active/passive equity and fixed income funds.

Broad incumbents

• BlackRock: World's largest asset manager with $10T+ AUM. Directly comparable as a global ETF and active management franchise; notably BlackRock's launch of IQQ is now competing head-on with Invesco's QQQ.

Emerging players

• First Trust: ETF issuer competing in sector, thematic, and factor ETFs with overlapping products (e.g., First Trust NASDAQ-100 ETF QQQM-rival). Smaller scale but active in same distribution channels.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/InvescoJapan
• Facebookfacebook.com/InvescoUS
• Xx.com/InvescoUS
• LinkedInlinkedin.com/company/invesco-us

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries11 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments108 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Invesco