Equity | US Equity

Invesco Nasdaq Free Cash Flow Achievers ETF

Ticker: QOWZ

Product Details

The Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) seeks to track the investment results (before fees and expenses) of the Nasdaq US Free Cash Flow Achievers™ Index (Index). The Fund will invest at least 90% of its total assets in securities that comprise the Index.

The Index is designed to track the performance of U.S. – listed companies with continuous and stable growth in free cash flow. 

To be eligible for inclusion in the Index, an issuer must be included in the NASDAQ US Benchmark Index and have had positive free cash flow in each of the trailing 11 years.

Free cash flow refers to the cash a company has left over after accounting for operating expenses and capital expenditures.

The Index reconstitutes annually in June

QOWZ and the Index are rebalanced quarterly.

as of 03/31/2024 03/31/2024

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Nasdaq US Free Cash Flow Achievers Total Return Index (USD) 14.75 N/A N/A N/A N/A 22.57
Russell 3000 Index 10.02 29.29 9.78 14.34 12.33 15.97
Fund History (%)
Fund NAV 14.61 N/A N/A N/A N/A 22.39
After Tax Held 14.56 N/A N/A N/A N/A 22.33
After Tax Sold 8.65 N/A N/A N/A N/A 13.25
Fund Market Price 14.85 N/A N/A N/A N/A 22.49
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Nasdaq US Free Cash Flow Achievers Total Return Index (USD) 14.75 N/A N/A N/A N/A 22.57
Russell 3000 Index 10.02 29.29 9.78 14.34 12.33 15.97
Fund History (%)
Fund NAV 14.61 N/A N/A N/A N/A 22.39
After Tax Held 14.56 N/A N/A N/A N/A 22.33
After Tax Sold 8.65 N/A N/A N/A N/A 13.25
Fund Market Price 14.85 N/A N/A N/A N/A 22.49

This is a new Fund and has no full-year Fund performance to report as of most recent quarter end.

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

as of

Growth of $10,000

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

as of 04/11/2024

Market Cap & Style Allocations

Large-Cap Value 5.03%
Large-Cap Blend 12.57%
Large-Cap Growth 50.23%
Mid-Cap Value 1.27%
Mid-Cap Blend 13.94%
Mid-Cap Growth 9.78%
Small-Cap Value 3.26%
Small-Cap Blend 2.84%
Small-Cap Growth 1.08%

as of 04/15/2024 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
NVDA NVIDIA Corp 11.15
AVGO Broadcom Inc 6.04
MA Mastercard Inc 5.06
CRM Salesforce Inc 3.88
TMO Thermo Fisher Scientific Inc 3.73
ADBE Adobe Inc 3.41
INTU Intuit Inc 3.27
NOW ServiceNow Inc 3.15
AMGN Amgen Inc 3.09
ADP Automatic Data Processing Inc 2.65

Distributions | Hide View All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital Liquidation Distribution
03/18/2024 03/19/2024 03/22/2024 0.03123 0.03123 - - - -

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2024 61 32 0 0 1 0 0
12/31/2023 17 10 0 0 0 0 0
Year Ended 2023 17 10 0 0 0 0 0
    Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2024 61 27 0 1 0 0 0
12/31/2023 17 7 0 0 0 0 0
Year Ended 2023 17 7 0 0 0 0 0

Fund Inception : 12/06/2023

Premiums/Discounts

 Risk & Other Information

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund’s return may not match the return of the Underlying Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of its Underlying Index. Therefore, the Fund would not necessarily buy or sell a security unless that security is added or removed, respectively, from its Underlying Index, even if that security generally is underperforming.

In general, equity values fluctuate, sometimes widely, in response to activities specific to the company as well as general market, economic and political conditions.

Free cash flow is the cash a company generates after accounting for operating expenses and capital expenditures. While free cash flow can be a useful metric for evaluating a company, there is not guarantee that companies with high free cash flow yields will continue to maintain high free cash flow yields in the future, or that these companies will outperform companies with lower free cash flow yields.

Stocks of small and mid-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.

Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

The Fund is considered non-diversified and may experience greater volatility than a more diversified investment.

An underlying fund’s return may not match the return of the underlying index of certain underlying ETFs for a number of reasons, including underlying expenses and trading costs. In addition, the performance of the Fund and the underlying index of certain underlying ETFs may vary due to asset valuation differences and differences between the underlying fund’s portfolio and the underlying index.

The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole.

The Fund is subject to numerous market trading risks, including the potential lack of an active market, losses from trading in secondary markets, and disruption in the creation/redemption process. During stressed market conditions, Shares may become less liquid as result of deteriorating liquidity which could lead to differences in the market price and the underlying value of those Shares.

Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Fund and tender those Shares for redemption to the Fund in Creation Unit aggregations only, typically consisting of 10,000, 20,000, 25,000, 50,000, 80,000, 100,000 or 150,000 Shares.

Not a Deposit; Not FDIC Insured; Not Guaranteed by the Bank; May Lose Value; Not Insured by any Federal Government Agency