# Invesco QQQ Trust, Series 1

Invesco QQQ Trust, Series 1 is an Asset Manager based in Atlanta, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Atlanta, United States
- **Region:** North America
- **Address:** Atlanta, GA, United States
- **Founded:** 1999
- **Assets under management:** $290B (per Invesco, 2025)
- **Website:** invesco.com

## Regulatory record

- **Reports private funds:** No

## About

Invesco QQQ Trust, Series 1 launched in March 1999 as an exchange-traded fund designed to track the Nasdaq-100 Index. The trust is structured as an index ETF, with Invesco serving as the investment manager and custodian. It is a 'series' of the Invesco Actively Managed Exchange-Traded Trust, per the fund's prospectus. QQQ holds roughly 100 stocks across technology, consumer services, healthcare, and industrial sectors, as defined by the Nasdaq-100 Index. As of 2025, its top holdings include Apple, Microsoft, Nvidia, Amazon, and Meta Platforms, each comprising over 5% of the portfolio. The fund does not make investment decisions — it passively replicates the index, rebalanced quarterly (March, June, September, December). The expense ratio is 0.20%. As of June 2025, QQQ managed approximately $290B in assets, making it one of the largest ETFs globally. The team at Invesco Capital Markets handles authorized participant relationships and liquidity management. Invesco also offers QQQM, a lower-cost share class launched in 2019, and QQQJ for the Nasdaq Next Generation 100. QQQ's structural differentiator is its pure-play technology exposure via the Nasdaq-100, which excludes financial and real estate companies. This narrow mandate creates a higher sector concentration than broad-market index funds, attracting investors seeking targeted growth exposure. The trust's size and trading volume (daily average over $20B) provide exceptional liquidity, which is a key consideration for large institutional trades.

## Sectors

- Technology
- AI/ML
- Enterprise Software
- Consumer Technology
- Healthcare

## People

- John Ciampaglia — Chief Executive Officer, Invesco ETFs
- Peter Hubbard — Chief Investment Officer, Invesco ETFs
- Michael Hyman — Head of Invesco QQQ

## Questions

### Who manages investment decisions for QQQ?

Investment decisions are governed by the Nasdaq-100 Index methodology, not by active portfolio managers. Invesco's team, led by John Ciampaglia (CEO, Invesco ETFs) and Peter Hubbard (CIO, Invesco ETFs), oversees the fund's operations and compliance with the index (per Invesco, 2025).

### How does QQQ source its returns?

QQQ passively tracks the Nasdaq-100 Index, which selects the 100 largest non-financial companies listed on the Nasdaq. Returns derive from the price appreciation and dividends of these companies, with no active stock selection. The index is rebalanced quarterly.

### Is QQQ structured as a passive index fund or an active ETF?

QQQ is a passive index ETF. It does not employ active management. The trust is designed to mirror the performance of the Nasdaq-100 Index before fees and expenses. It is part of Invesco's ETF lineup.

### What investment stages does QQQ target?

QQQ does not target investment stages. It holds large-cap growth stocks — all components of the Nasdaq-100 are established, publicly traded companies. The fund does not invest in private companies, startups, or venture capital.

### Which sectors does QQQ explicitly avoid?

QQQ avoids the financial sector (banks, insurance, diversified financials) and real estate, as these are excluded from the Nasdaq-100 Index. This results in a heavy tilt toward technology, consumer services, and healthcare.

### Does QQQ participate in fund commitments or only direct holdings?

QQQ only holds direct equity positions in the Nasdaq-100 constituents. It does not invest in other funds, private vehicles, or alternative assets. It is a pure public equity ETF.

### What is the expense ratio and how does it compare?

QQQ charges a 0.20% expense ratio. This is competitive for a specialty index ETF, though higher than broad-market large-cap funds. Invesco offers QQQM at 0.15% for long-term investors (per Invesco, 2025).

## Related profiles

- [LEHMAN ABS CORP GOLDMAN SACHS CAP 1 SEC BACKED SER 2004-6](https://altss.com/profile/lehman-abs-corp-goldman-sachs-cap-1-sec-backed-ser-2004-6)
- [John Hancock Financial Opportunities Fund](https://altss.com/profile/john-hancock-financial-opportunities-fund)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/invesco-qqq-trust-series-1

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology