If you're interested in broad exposure to the Large Cap Growth segment of the US equity market, look no further than the Invesco S&P 500 GARP ETF (SPGP) , a passively managed exchange traded fund launched on June 17, 2011. The fund is sponsored by Invesco. It has amassed assets over $2.73 billion, making it one of the larger ETFs attempting to match the Large Cap Growth segment of the US equity market. Sector Exposure and Top Holdings While ETFs offer diversified exposure, which minimizes single stock risk, ...

Blend ETFs usually hold a mix of growth and value stocks as well as stocks that exhibit both value and growth characteristics. Costs Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same. Annual operating expenses for this ETF are 0.25%, putting it on par with most peer products in the space. It has a 12-month trailing dividend yield of 1.79%. Sector Exposure and Top Holdings De ...

Core Insights - Invesco's preliminary assets under management (AUM) for July 2025 reached $2.02 trillion, reflecting a 1.2% increase from the previous month, driven by market gains and long-term net inflows, despite some losses from unfavorable foreign exchange [1][10] Group 1: AUM Performance - The rise in AUM was attributed to a $22 billion increase from market performance and $5.8 billion in long-term net inflows, offset by an $8.5 billion decline due to unfavorable FX [1] - AUM under ETFs & Index Strategies was $559 billion, up 2.2% from the previous month, while Global Liquidity AUM increased by 2.1% to $200.5 billion [2] - The Fundamental Fixed Income AUM decreased by 1% to $298.5 billion, and Fundamental Equities AUM saw a slight decline to $287 billion [3] Group 2: Growth Trends - Over the past five years, Invesco's AUM has experienced a compound annual growth rate (CAGR) of 8.5%, with continued growth in the first half of fiscal 2025 [4] - The company has been focusing on diversifying into asset classes with growing client demand, which is expected to further enhance AUM growth [5] Group 3: Competitive Landscape - Competitors such as Franklin Resources and T. Rowe Price are also experiencing AUM growth, with Franklin's AUM at $1.62 trillion and T. Rowe Price benefiting from a diversified AUM across various asset classes [6][8] Group 4: Valuation and Earnings Estimates - Invesco's shares have increased by 17% in 2025, outperforming the industry, and the company trades at a forward price-to-earnings (P/E) ratio of 9.89, below the industry average [9][11] - The Zacks Consensus Estimate indicates a 4.7% year-over-year rise in Invesco's 2025 earnings, with a projected growth of 25.5% for 2026 [12]

The Invesco QQQ Trust has been a big winner -- but it has also been a big loser. The Invesco QQQ Trust (QQQ -0.39%) has turned a $10,000 investment at its inception in March 1999 into $125,000. Its returns handily outdistance the performance of the S&P 500 index over that span. Given that backdrop, it seems like this could be the millionaire-maker investment that you've been looking for! But don't rush out to buy it -- there are some pretty big caveats to consider. What does the Invesco QQQ Trust do? The In ...

Group 1 - Invesco Ltd. reported preliminary month-end assets under management (AUM) of $2,024.5 billion, reflecting a 1.2% increase compared to the previous month-end [1][2] - The firm experienced net long-term inflows of $5.8 billion during the month, while non-management fee earning net outflows were $0.4 billion [1] - Money market net inflows amounted to $4.0 billion, and AUM was positively impacted by favorable market returns, which contributed an increase of $22 billion [1] - Foreign exchange (FX) fluctuations decreased AUM by $8.5 billion [1] - Preliminary average total AUM for the quarter through July 31 was $2,029.0 billion, with preliminary average active AUM at $1,095.9 billion [1] Group 2 - As of July 31, 2025, the total AUM was $2,024.5 billion, with specific allocations including $559.0 billion in ETFs & Index Strategies, $298.5 billion in Fixed Income, and $287.0 billion in Equities [2] - The AUM figures for previous months were $2,001.4 billion in June 2025, $1,942.7 billion in May 2025, and $1,840.0 billion in April 2025, indicating a consistent upward trend [2]

Core Insights - The Invesco PHLX Semiconductor ETF (SOXQ) offers broad exposure to the Technology - Semiconductors segment, appealing to both retail and institutional investors due to its low costs and transparency [1][2]. Fund Overview - SOXQ, launched on June 11, 2021, has accumulated over $501.3 million in assets, positioning it as an average-sized ETF in the semiconductor sector [3]. - The ETF aims to replicate the performance of the PHLX Semiconductor Sector Index, which tracks the 30 largest U.S.-listed semiconductor companies [3]. Cost Structure - The annual operating expenses for SOXQ are 0.19%, making it one of the least expensive ETFs in its category, with a 12-month trailing dividend yield of 0.63% [4]. Sector Exposure and Holdings - SOXQ is fully allocated to the Information Technology sector, with Nvidia Corp (NVDA) representing approximately 11.89% of total assets, followed by Broadcom Inc (AVGO) and Taiwan Semiconductor Manufacturing Co Ltd Adr (TSM) [5][6]. - The top 10 holdings constitute about 58.74% of total assets under management [6]. Performance Metrics - As of August 11, 2025, SOXQ has gained approximately 14.39% year-to-date and 20.68% over the past year, with a trading range between $28.07 and $45.58 in the last 52 weeks [7]. - The ETF has a beta of 1.55 and a standard deviation of 36.22% over the trailing three-year period, indicating more concentrated exposure compared to peers [7]. Alternatives - SOXQ holds a Zacks ETF Rank of 2 (Buy), indicating strong potential based on expected returns and expense ratios [8]. - Other ETFs in the semiconductor space include iShares Semiconductor ETF (SOXX) with $13.47 billion in assets and VanEck Semiconductor ETF (SMH) with $26.75 billion, both having an expense ratio of 0.35% [9].

Core Insights - The Invesco Dorsey Wright Industrials Momentum ETF (PRN) is designed to provide broad exposure to the Industrials sector, appealing to both retail and institutional investors due to its low costs, transparency, flexibility, and tax efficiency [1][2] Fund Overview - PRN was launched on October 12, 2006, and has accumulated assets over $358.2 million, positioning it as an average-sized ETF in the Industrials - Broad segment [3] - The ETF aims to match the performance of the DWA Industrials Technical Leaders Index, which includes at least 30 stocks from a universe of approximately 3,000 US-traded common stocks [4] Cost Structure - The annual operating expenses for PRN are 0.6%, which is competitive with most peer products, and it has a 12-month trailing dividend yield of 0.35% [5] Sector Exposure and Holdings - The ETF has a significant allocation in the Industrials sector, comprising about 94.8% of the portfolio [6] - Heico Corp (HEI) is the largest holding at approximately 4.95% of total assets, followed by Rocket Lab Corp (RKLB) and Comfort Systems USA Inc (FIX). The top 10 holdings account for about 42.37% of total assets [7] Performance Metrics - As of August 7, 2025, PRN has gained approximately 5.97% year-to-date and about 22.41% over the past year. The ETF has traded between $122.83 and $177.75 in the last 52 weeks [8] - PRN has a beta of 1.22 and a standard deviation of 22.9% over the trailing three-year period, indicating medium risk with more concentrated exposure than peers [8] Alternatives - PRN carries a Zacks ETF Rank of 3 (Hold), suggesting it is a viable option for investors seeking exposure to the Industrials sector. Other alternatives include the Vanguard Industrials ETF (VIS) and the Industrial Select Sector SPDR ETF (XLI), which have significantly larger asset bases and lower expense ratios [9][10]

[PART I. Financial Information](index=6&type=section&id=PART%20I.%20Financial%20Information) This section provides Invesco Ltd.'s unaudited condensed consolidated financial statements and management's discussion and analysis for the period ended June 30, 2025 [Item 1. Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) This section presents Invesco Ltd.'s unaudited condensed consolidated financial statements, including balance sheets, income, comprehensive income, cash flows, and equity changes, for periods ended June 30, 2025 [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$28.50 billion** by June 30, 2025, driven by consolidated investment products, while total equity attributable to Invesco Ltd. decreased to **$13.87 billion** Condensed Consolidated Balance Sheet Highlights (in millions) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$28,496.9** | **$27,008.9** | | Cash and cash equivalents | $922.7 | $986.5 | | Goodwill | $8,583.3 | $8,583.3 | | Investments and other assets of CIP | $9,673.9 | $8,374.5 | | **Total Liabilities** | **$13,538.0** | **$11,340.1** | | Debt | $1,883.9 | $890.6 | | Debt and other liabilities of CIP | $8,192.5 | $6,853.1 | | **Total Equity Attributable to Invesco Ltd.** | **$13,873.1** | **$14,559.9** | [Condensed Consolidated Statements of Income](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) In Q2 2025, Invesco Ltd. reported a **net loss of $12.5 million** due to a preferred share repurchase, contrasting with net income in Q2 2024 Income Statement Summary (in millions, except EPS) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | Total operating revenues | $1,515.5 | $1,483.3 | $3,044.7 | $2,958.6 | | Operating income | $214.2 | $206.8 | $491.5 | $419.9 | | Net income/(loss) attributable to Invesco Ltd. | $(12.5) | $132.2 | $158.6 | $273.7 | | Diluted EPS | $(0.03) | $0.29 | $0.35 | $0.60 | - A significant cost of **$159.3 million** was incurred for the repurchase of preferred shares in Q2 2025, leading to a net loss attributable to Invesco Ltd. for the quarter[16](index=16&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was **$463.3 million** for the six months ended June 30, 2025, while financing activities included a **$1.15 billion** preferred share repurchase Six-Month Cash Flow Summary (in millions) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $463.3 | $434.7 | | Net cash provided by/(used in) investing activities | $(367.4) | $57.4 | | Net cash provided by/(used in) financing activities | $(195.5) | $(860.0) | | **Increase/(decrease) in cash and cash equivalents** | **$(99.6)** | **$(367.9)** | - Financing activities in the first half of 2025 were marked by a **$1.15 billion** repurchase of preferred shares and the issuance of **$992.7 million** in new bank term loans[21](index=21&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=14&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, fair value measurements, debt, and share capital, highlighting a **$1.0 billion** preferred stock repurchase and an increased **$2.5 billion** revolving credit facility - On May 16, 2025, Invesco repurchased **$1.0 billion** of Series A Preferred Stock held by Massachusetts Mutual Life Insurance Company (MassMutual)[51](index=51&type=chunk) - The company amended its revolving credit agreement, increasing its capacity from **$2.0 billion** to **$2.5 billion** and extending the maturity to May 2030. It also entered into two new floating-rate bank term loans totaling **$1.0 billion**[47](index=47&type=chunk)[48](index=48&type=chunk) - The company has undrawn co-invest capital commitments of **$779.6 million** as of June 30, 2025[62](index=62&type=chunk) - A second quarter 2025 dividend of **$0.21 per common share** was declared on July 21, 2025[78](index=78&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting record **$2.0 trillion** Assets Under Management (AUM) in Q2 2025, capital management, and a strategic partnership with Barings [Executive Overview](index=23&type=section&id=Executive%20Overview) The company achieved record **$2.0 trillion** AUM in Q2 2025, repurchased **$1.0 billion** in preferred shares, and formed a strategic partnership with Barings - The company reached a record **$2.0 trillion** in Assets Under Management (AUM) in the second quarter of 2025[86](index=86&type=chunk) - On May 16, 2025, the company repurchased **$1.0 billion** of its outstanding Series A preferred shares, funded by **$1.0 billion** in new 3-year and 5-year bank term loans. The revolving credit agreement was also increased to **$2.5 billion** and extended to 2030[87](index=87&type=chunk) - A strategic partnership with Barings (MassMutual's asset management subsidiary) was announced to expand the private markets business, with MassMutual intending to invest an initial total of **$650 million**[88](index=88&type=chunk) [Assets Under Management](index=28&type=section&id=Assets%20Under%20Management) Total AUM increased to **$2,001.4 billion** by June 30, 2025, driven by **$15.6 billion** in net long-term flows and **$126.4 billion** in market gains AUM Roll-Forward for Q2 2025 (in billions) | Metric | Total AUM | Active | Passive | | :--- | :--- | :--- | :--- | | Beginning Assets (April 1) | $1,844.8 | $1,041.3 | $803.5 | | Net long-term flows | $15.6 | $3.8 | $11.8 | | Total net flows | $15.2 | $0.6 | $14.6 | | Market gains and losses | $126.4 | $33.4 | $93.0 | | Foreign currency translation | $14.0 | $11.2 | $2.8 | | **Ending Assets (June 30)** | **$2,001.4** | **$1,087.5** | **$913.9** | - For the six months ended June 30, 2025, total net flows were **$47.8 billion**, with net long-term flows contributing **$33.2 billion**[106](index=106&type=chunk) [Results of Operations](index=40&type=section&id=Results%20of%20Operations) Q2 2025 operating revenues increased 2.2% to **$1.52 billion**, with operating income rising 3.6% to **$214.2 million**, despite a 12.8% increase in employee compensation Q2 2025 vs Q2 2024 Financial Performance (in millions) | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Total operating revenues | $1,515.5 | $1,483.3 | 2.2% | | Total operating expenses | $1,301.3 | $1,276.5 | 1.9% | | Operating income | $214.2 | $206.8 | 3.6% | - Employee compensation expense increased by **$58.1 million (12.8%)** YoY in Q2 2025, primarily due to **$16.9 million** in severance, a **$22.4 million** increase in deferred compensation mark-to-market expense, and higher variable compensation[155](index=155&type=chunk) - General and administrative expenses decreased by **$41.2 million (22.8%)** YoY in Q2 2025, mainly because the prior-year period included a **$50 million** accrual for a regulatory settlement[161](index=161&type=chunk) - The effective tax rate increased to **28.1%** for Q2 2025 from **24.6%** in Q2 2024, primarily due to jurisdictional tax rate changes and an unfavorable mix of income[175](index=175&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) Total liquidity reached **$3.42 billion** by June 30, 2025, supported by a **$2.5 billion** revolving credit facility, with the company repurchasing **$1.0 billion** in preferred stock Sources of Liquidity (in millions) | Source | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $922.7 | $986.5 | | Available Revolving credit agreement | $2,500.0 | $2,000.0 | | **Total sources of liquidity** | **$3,422.7** | **$2,986.5** | - In H1 2025, the company repurchased **3.2 million common shares** for **$50 million** and **$1.0 billion** of Series A Preferred Stock[204](index=204&type=chunk) - The company maintained strong investment-grade credit ratings of **BBB+ (S&P)**, **A3 (Moody's)**, and **A (Fitch)**, all with stable outlooks[205](index=205&type=chunk) - As of June 30, 2025, the company was in compliance with its debt covenants, reporting a leverage ratio of **0.83:1.00** (well below the maximum of 3.25:1.00) and an interest coverage ratio of **26.69:1.00** (above the minimum of 4.00:1.00)[225](index=225&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=57&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks include AUM market price, securities market, interest rate, and foreign exchange rate risks, with no material changes reported - The company's main market risks are AUM market price risk, securities market risk, interest rate risk, and foreign exchange rate risk, with no material changes reported for the period[235](index=235&type=chunk) - Investment management revenues are directly tied to the value of AUM, meaning declines in market prices of securities could significantly reduce revenues[236](index=236&type=chunk) - As of June 30, 2025, **47.3%** of the company's debt had fixed interest rates, mitigating some exposure to interest rate fluctuations[239](index=239&type=chunk) [Item 4. Controls and Procedures](index=58&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting - Based on an evaluation as of June 30, 2025, the CEO and CFO concluded that the company's disclosure controls and procedures were effective[244](index=244&type=chunk) - There were no changes during the six months ended June 30, 2025, that materially affected or are likely to materially affect the company's internal control over financial reporting[245](index=245&type=chunk) [PART II. Other Information](index=59&type=section&id=PART%20II.%20Other%20Information) This section covers legal proceedings, risk factors, unregistered sales of equity securities, and a list of exhibits filed with the report [Item 1. Legal Proceedings](index=59&type=section&id=Item%201.%20Legal%20Proceedings) Legal proceedings are referenced in Note 10 of the financial statements, with management expecting no material impact on the company's financial condition - Details regarding legal proceedings are provided in Note 10, "Commitments and Contingencies - Legal Contingencies," within the financial statements[248](index=248&type=chunk) [Item 1A. Risk Factors](index=59&type=section&id=Item%201A.%20Risk%20Factors) No significant changes to the company's risk factors have been reported since the Annual Report on Form 10-K for 2024 - The company reports no significant changes in its risk factors from those previously disclosed in its 2024 Form 10-K[249](index=249&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=59&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q2 2025, the company repurchased **1,745,987 common shares**, with **$282.2 million** remaining available under the repurchase authorization Common Share Repurchases for Q2 2025 | Month | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | April 2025 | 632,875 | $13.38 | | May 2025 | 543,180 | $14.85 | | June 2025 | 569,932 | $14.85 | | **Total** | **1,745,987** | **N/A** | - As of June 30, 2025, **$282.2 million** remained available under the company's share repurchase authorization[251](index=251&type=chunk) [Item 6. Exhibits](index=60&type=section&id=Item%206.%20Exhibits) This section indexes all exhibits filed with the Form 10-Q, including corporate governance documents, credit agreements, and CEO/CFO certifications - The exhibits include certifications from the CEO and CFO pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[255](index=255&type=chunk)

Core Viewpoint - Invesco Ltd. (IVZ) has reached a significant support level and is considered a potential investment opportunity due to a recent "golden cross" technical pattern, indicating a bullish breakout may be forthcoming [1]. Technical Analysis - IVZ's 50-day simple moving average has recently crossed above its 200-day moving average, forming a "golden cross," which is a bullish signal for traders [1]. - A successful golden cross event consists of three stages: the stock price bottoms out, the shorter moving average crosses above the longer moving average, and the stock maintains upward momentum [2]. Performance Metrics - Over the past four weeks, IVZ has experienced a gain of 25.6% [3]. - The stock currently holds a 3 (Hold) rating on the Zacks Rank, suggesting it may be poised for further breakout [3]. - Earnings expectations for IVZ have improved, with six upward revisions and no downward changes in the last 60 days, leading to an increase in the Zacks Consensus Estimate [3]. Investment Outlook - The combination of positive earnings estimate revisions and the technical breakout suggests that investors should monitor IVZ for potential gains in the near future [5].

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a divide ...