Invesco Canada Ltd (Invesco) has launched two new exchange-traded funds (ETFs) that offer investors exposure to a number of relevant technology themes.
The launch of the Invesco NASDAQ Next Gen 100 Index ETF (QQJR and QQJR.F) and the Invesco NASDAQ 100 Equal Weight Index ETF (QQEQ and QQEQ.F) will build on the innovative solutions offered by Invesco and Nasdaq, allowing clients several distinctive entry points to own the disruptive companies listed on The Nasdaq Stock Market. Invesco also announced the launch of CAD Units of Invesco NASDAQ 100 Index ETF (QQC).
“The launch of two new Invesco Nasdaq ETFs reaffirms the commitment of Invesco’s Canadian ETF business to providing our clients with products that access the themes and companies at the forefront of innovation,” says Pat Chiefalo, Head of Canada, Invesco ETFs & Indexed Strategies. “Now Canadian investors can choose several unique ways to gain exposure to the category-defining companies listed on The Nasdaq Stock Market.”
Globally, Invesco and its affiliates have a long history of collaborating with Nasdaq in order to offer investors the ability to own broad exposure to the innovative, forward-thinking companies listed on The Nasdaq Stock Market. Together, they offer investors a number of ETFs tracking Nasdaq Indexes worldwide. The Invesco NASDAQ Next Gen 100 ETF will track the Nasdaq Next Generation 100 Index, which includes the “next 100” non-financial companies listed on The Nasdaq Stock Market, outside of the Nasdaq 100 Index, in a mid-cap ETF. The Invesco NASDAQ 100 Equal Weight Index ETF will track the Nasdaq 100 Equal Weighted Index, which re-weights the companies included in the Nasdaq 100 Index so that each of the companies is set at a weight of 1 per cent of the Index at each quarterly rebalance.
Invesco also recently changed the name of the Invesco QQQ Index ETF to the Invesco NASDAQ 100 Index ETF, dropping the management fee to 0.20 per cent of NAV to make it the most cost-effective ETF in Canada tracking the Nasdaq 100 Index.
Together, the three core strategies in the Invesco innovation suite allow clients to personalise their investing and decide which strategy best suits their needs.
The top 200 non-financial companies listed on The Nasdaq Stock Market have a legacy of using innovation to disrupt their respective markets, with a strong tilt to many of the top themes in technology. The two new ETFs will provide robust exposure to a number of relevant technology themes, including the internet economy, cloud computing, AI/big data, biotech, robotics and cybersecurity.
“We’re excited to partner again with Invesco and bring several new Nasdaq Index strategies to the Canadian ETF market,” says Sean Wasserman, Vice President and Head of Index and Advisor Solutions for Nasdaq. “Through the years Invesco and Nasdaq have continued to grow our partnership, working constructively to find new and unique ways to ensure the same innovation found in Nasdaq listed companies is echoed in the Invesco Nasdaq ETFs.”
The initial offering of Invesco NASDAQ Next Gen 100 ETF (QQJR and QQJR.F) and Invesco NASDAQ 100 Equal Weight Index ETF (QQEQ and QQEQ.F) has now closed. Units in the ETFs will be available for trading on TSX when the market opens today.
The initial offering of the CAD Units of Invesco QQQ Index ETF (QQC) has now closed. Units of the CAD Units of Invesco QQQ Index ETF (QQC) will be available for trading on TSX when the market opens today.
Invesco Ltd Americas ETF suite currently has over USD320.4 billion in assets under management (AUM) as of 31 March, 2021. Invesco Canada Ltd. is a subsidiary of Invesco Ltd.