Core Viewpoint - Invesco Ltd. (IVZ) is positioned favorably for an upcoming earnings report, with analysts raising earnings estimates, indicating potential for an earnings beat [1][2][5]. Earnings Estimates - Recent earnings estimate revisions for Invesco suggest positive trends, with the Most Accurate Estimate for the current quarter at 41 cents per share, compared to the Zacks Consensus Estimate of 40 cents per share [3]. - This results in a Zacks Earnings ESP of +1.65%, indicating a favorable outlook heading into earnings season [3]. Importance of Earnings ESP - A positive Zacks Earnings ESP has historically led to positive surprises and market outperformance, with a 10-year backtest showing nearly 70% of stocks with a positive Earnings ESP and a Zacks Rank of 3 or better achieving positive surprises [4]. - Stocks with this profile have averaged over 28% in annual returns [4]. Investment Consideration - Given that Invesco holds a Zacks Rank of 1 (Strong Buy) and a positive ESP, it is recommended for investors to consider this stock ahead of its earnings report [5].

Company Overview - Invesco (IVZ) shares increased by 15.3% in the last trading session, closing at $19.92, with a total gain of 17.4% over the past four weeks [1][2] - The stock reached a 52-week high of $20.05 during a rally driven by news of a proposed conversion of the Invesco QQQ Trust from a unit investment trust to an open-end ETF structure, which would allow the company to earn revenues and potential profits [2] Earnings Expectations - Invesco is expected to report quarterly earnings of $0.40 per share, reflecting a year-over-year decline of 7%, while revenues are projected to be $1.11 billion, an increase of 1.9% from the previous year [3] - The consensus EPS estimate for the quarter has been revised 12.7% higher over the last 30 days, indicating a positive trend that typically correlates with price appreciation [4] Industry Context - Invesco is part of the Zacks Financial - Investment Management industry, which includes other companies like Silvercrest (SAMG) [4] - Silvercrest's consensus EPS estimate has remained unchanged at $0.3, indicating no growth compared to the previous year, and it currently holds a Zacks Rank of 3 (Hold) [5]

Core Viewpoint - The Invesco Semiconductors ETF (PSI) is a passively managed fund aimed at providing broad exposure to the Technology - Semiconductors sector, appealing to both institutional and retail investors due to its low costs and transparency [1][2]. Group 1: Fund Overview - Launched on June 23, 2005, PSI has accumulated over $744.02 million in assets, positioning it as an average-sized ETF in the semiconductor segment [3]. - The fund seeks to match the performance of the Dynamic Semiconductor Intellidex Index, which evaluates semiconductor companies based on various investment criteria [4]. Group 2: Costs and Performance - PSI has annual operating expenses of 0.56% and a 12-month trailing dividend yield of 0.14%, making it competitive with peer products [5]. - Year-to-date, PSI has returned approximately 7.09% and is up about 2.26% over the last 12 months, with a trading range between $39.29 and $64.98 in the past 52 weeks [8]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation in the Information Technology sector, comprising about 97.70% of the portfolio [6]. - Kla Corp (KLAC) represents about 5.16% of total assets, with the top 10 holdings accounting for approximately 46.26% of total assets under management [7]. Group 4: Alternatives and Market Position - PSI holds a Zacks ETF Rank of 2 (Buy), indicating strong expected returns and favorable expense ratios, making it a solid choice for investors seeking exposure to the Technology ETFs segment [9]. - Other alternatives in the semiconductor ETF space include the IShares Semiconductor ETF (SOXX) with $13.95 billion in assets and the VanEck Semiconductor ETF (SMH) with $27.74 billion, both having an expense ratio of 0.35% [10].

Core Viewpoint - The Invesco S&P 500 Equal Weight Technology ETF (RSPT) is a passively managed fund that provides broad exposure to the Technology - Broad segment of the equity market, appealing to both institutional and retail investors due to its low costs and transparency [1][2]. Group 1: Fund Overview - Launched on November 1, 2006, RSPT has accumulated over $3.67 billion in assets, making it one of the larger ETFs in the Technology - Broad segment [3]. - The ETF aims to match the performance of the S&P 500 Equal Weight Information Technology Index, which equally weights stocks in the information technology sector of the S&P 500 Index [3]. Group 2: Cost Structure - RSPT has annual operating expenses of 0.40%, positioning it as one of the more affordable options in the ETF market [4]. - The fund has a 12-month trailing dividend yield of 0.20% [4]. Group 3: Sector Exposure and Holdings - The ETF is fully allocated to the Information Technology sector, with approximately 100% of its portfolio dedicated to this area [5]. - Palantir Technologies Inc (PLTR) constitutes about 2.10% of total assets, with the top 10 holdings making up approximately 17.75% of total assets under management [6]. Group 4: Performance Metrics - Year-to-date, RSPT has returned roughly 11.21%, and it has increased by about 12.43% over the last 12 months as of July 21, 2025 [7]. - The ETF has traded between $29.52 and $41.65 in the past 52 weeks, with a beta of 1.22 and a standard deviation of 23.72% over the trailing three-year period [7]. Group 5: Investment Alternatives - RSPT holds a Zacks ETF Rank of 2 (Buy), indicating a favorable outlook based on expected asset class return, expense ratio, and momentum [8]. - Other notable ETFs in the technology sector include the Technology Select Sector SPDR ETF (XLK) and the Vanguard Information Technology ETF (VGT), with XLK having $82.41 billion in assets and VGT at $97.28 billion [9].

Core Viewpoint - The Invesco S&P 500 Equal Weight Utilities ETF (RSPU) is gaining popularity among investors due to its low costs, transparency, and long-term investment potential [1][2]. Group 1: Fund Overview - RSPU is a passively managed ETF launched on November 1, 2006, designed to provide broad exposure to the Utilities - Broad segment of the equity market [1]. - The fund has amassed assets over $442.32 million, making it an average-sized ETF in its category [3]. - RSPU seeks to match the performance of the S&P 500 Equal Weight Utilities Plus Index, which equally weights the common stocks of utilities sector companies in the S&P 500 [4]. Group 2: Costs and Performance - The annual operating expenses for RSPU are 0.40%, which is competitive with most peer products [5]. - The ETF has a 12-month trailing dividend yield of 2.47% [5]. - Year-to-date, RSPU has gained approximately 12.50%, and it is up about 24.93% over the last 12 months as of July 21, 2025 [8]. Group 3: Holdings and Sector Exposure - RSPU has a 100% allocation in the Utilities sector, with Nrg Energy Inc (NRG) accounting for about 4.97% of total assets [6]. - The top 10 holdings represent approximately 36.15% of total assets under management [7]. Group 4: Alternatives and Comparisons - RSPU has a Zacks ETF Rank of 4 (Sell), indicating it may not be the best choice for investors seeking exposure to the Utilities/Infrastructure ETFs segment [9]. - Alternatives include the Vanguard Utilities ETF (VPU) and the Utilities Select Sector SPDR ETF (XLU), which have significantly larger assets and lower expense ratios [10].

1. Report Industry Investment Rating The provided content does not mention the industry investment rating. 2. Core Viewpoints of the Report - The US ETF innovation products have expanded with hedge - fund replication products. Last week, 15 new products were issued in the US, covering various strategies such as option strategies, theme products, and hedge - fund replication strategies [1][6]. - Bitcoin products in US ETFs have seen continuous inflows. Last week, US equity ETFs had inflows of over $15 billion, with domestic stocks having more inflows than international ones, while bond ETFs had outflows [1][10]. - Technology products in US ETFs rebounded significantly in the second quarter. Despite a large drawdown in the first quarter due to the DeepSeek event, the technology sector has rebounded, with year - to - date returns exceeding the S&P 500 and the technology sector having higher gains than other industries in the past three months [1][14]. - Regarding the capital flow of US ordinary public funds, in May 2025, the total amount of non - money public funds in the US was $21.91 trillion, up $0.85 trillion from April 2025. From July 2nd to July 9th, domestic stock funds in the US had outflows of about $7.5 billion, and bond product inflows expanded to $7.58 billion [1][16]. 3. Summary by Relevant Catalogs 3.1 US ETF Innovation Products: Expansion of Hedge - Fund Replication Products - Last week, 15 new products were issued in the US, including a cross - border investment product by JPMorgan, 2x leveraged products by GraniteShares, 2 hedge - fund replication strategy products by Unlimited, a China generative AI ETF by Theme, a European military industry ETF by WisdomTree, a carbon - neutral ETF by Invesco, a bond Covered Call product by Global X, and an aggressive allocation ETF by Amplius [6][7][9]. - Unlimited's 2 new hedge - fund replication strategy products aim to provide 2 times the volatility of similar hedge funds to boost returns, with fees of 0.95% and 1% [7]. 3.2 US ETF Dynamics 3.2.1 US ETF Capital: Continuous Inflows into Bitcoin Products - Last week, US equity ETFs had inflows of over $15 billion, with domestic stocks having more inflows than international ones, and bond ETFs had outflows. Inflow - leading products were mainly broad - based equity ETFs, and BlackRock's Bitcoin and Ethereum ETFs had significant inflows, while small - cap and corporate - bond ETFs had significant outflows [10][12]. - The Russell 2000 ETF had daily outflows last week, and ARKK, which has performed well this year, did not see significant inflows [13]. 3.2.2 US ETF Performance: Significant Rebound of Technology Products in the Second Quarter - Affected by the DeepSeek event, US technology ETFs had a large drawdown in the first quarter but rebounded significantly in the second quarter. Year - to - date returns have exceeded the S&P 500, and the technology sector has had higher gains than other industries in the past three months, with ARKK having a gain of over 30% [14][15]. 3.3 Recent Capital Flow of US Ordinary Public Funds - In May 2025, the total amount of non - money public funds in the US was $21.91 trillion, up $0.85 trillion from April 2025. The S&P 500 rose 6.15% in May, and the scale of domestic equity products in the US increased by 5.49%, slightly lower than the stock price increase [16]. - From July 2nd to July 9th, domestic stock funds in the US had outflows of about $7.5 billion, and bond product inflows expanded to $7.58 billion [16].

Core Viewpoint - Invesco (IVZ) is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a solid history of exceeding expectations [1][6]. Earnings Performance - Invesco has a strong track record of surpassing earnings estimates, with an average surprise of 9.47% over the last two quarters [2]. - For the most recent quarter, Invesco reported earnings of $0.39 per share against an expectation of $0.44, resulting in a surprise of 12.82%. In the previous quarter, it reported $0.52 per share against a consensus estimate of $0.49, yielding a surprise of 6.12% [3]. Earnings Estimates and Predictions - Recent estimates for Invesco have been trending upward, with a positive Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat [6][9]. - The current Earnings ESP for Invesco stands at +1.65%, reflecting increased analyst optimism regarding its near-term earnings potential [9]. Zacks Rank and Success Rate - The combination of a positive Earnings ESP and a Zacks Rank of 1 (Strong Buy) suggests a high probability of another earnings beat, as stocks with this combination have a nearly 70% success rate in exceeding consensus estimates [7][9].

Core Viewpoint - Invesco Capital Management LLC has filed a preliminary proxy statement with the SEC to seek consent from beneficial owners of Invesco QQQ TrustSM, Series 1 for a reclassification of QQQ from a "unit investment trust" to a "management company" with a subclassification as an "open-end company" under the Investment Company Act of 1940 [1] Group 1 - If the proposals are approved, the Bank of New York Mellon will be replaced as QQQ's Trustee by a board of individual trustees, while BNY will continue to serve as custodian, administrator, accounting agent, and transfer agent [2] - ICM will be appointed as the investment adviser to QQQ under a new investment advisory agreement, which includes a unitary fee of 18 basis points, leading to a pro-forma reduction of 2 basis points from QQQ's current expense ratio of 20 basis points [2] Group 2 - As of March 31, 2025, Invesco Ltd. managed US$1.8 trillion in assets on behalf of clients worldwide, highlighting its significant presence in the investment management industry [3]

Core Viewpoint - The Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) is designed to provide broad exposure to the Large Cap Growth segment of the US equity market, with significant assets under management and a focus on large-cap companies [1][10]. Group 1: Fund Overview - OMFL is a passively managed ETF launched on November 8, 2017, and has amassed over $4.93 billion in assets, making it one of the larger ETFs in its category [1]. - The ETF has an annual operating expense ratio of 0.29%, which is competitive within its peer group, and a 12-month trailing dividend yield of 0.71% [4]. Group 2: Market Characteristics - Large cap companies, defined as those with market capitalizations above $10 billion, are generally more stable and exhibit predictable cash flows compared to mid and small cap companies [2]. - Growth stocks, while having higher sales and earnings growth rates, also come with higher valuations and volatility, making them a safer bet in strong bull markets but less effective in other financial environments [3]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Information Technology sector, comprising about 22.80% of the portfolio, followed by Consumer Staples and Financials [5]. - Microsoft Corp (MSFT) is the largest holding at approximately 5.38% of total assets, with the top 10 holdings accounting for about 43.87% of total assets under management [6]. Group 4: Performance Metrics - As of July 17, 2025, the ETF has returned approximately 6.57% year-to-date and 11.67% over the past year, with a trading range between $47.65 and $58.13 in the past 52 weeks [8]. - The ETF has a beta of 1 and a standard deviation of 16.04% for the trailing three-year period, indicating effective diversification of company-specific risk with about 277 holdings [8]. Group 5: Alternatives and Comparisons - OMFL holds a Zacks ETF Rank of 2 (Buy), indicating strong expected performance based on various factors [10]. - Other ETFs in the same space include the Vanguard Growth ETF (VUG) and Invesco QQQ (QQQ), with VUG having $178.36 billion in assets and an expense ratio of 0.04%, while QQQ has $355.54 billion in assets and charges 0.20% [11]. Group 6: Investment Appeal - Passively managed ETFs like OMFL are favored by both institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency, making them an excellent choice for long-term investors [12].

Group 1 - China's GDP grew by 5.3% year-on-year in the first half of the year, exceeding expectations and prompting several international investment banks to raise their economic growth forecasts for China [1][2] - Key reasons for the upward revision include "export resilience" and "policy support," which have been frequently mentioned by foreign institutions [1] - Wellington Management, a major investment firm, highlighted China as a significant investment target, indicating a growing optimism towards the Chinese stock market [1][4] Group 2 - Nomura and Morgan Stanley have both adjusted their 2025 GDP growth forecasts for China upwards, reflecting stronger-than-expected second-quarter performance [2] - UBS noted that the second-quarter GDP growth was supported by consumer spending improvements and robust export performance, leading to an overall positive outlook for 2025 [2] - The anticipated government policies, including subsidies and monetary easing, are expected to further support economic growth in the second half of 2025 [3] Group 3 - Market expectations are leaning towards additional incremental policy support to boost household consumption and stabilize the real estate market [3] - The strong export activity has been a key driver of China's economic growth, with diversification efforts in the export market helping to maintain resilience amid global trade uncertainties [3] - The Chinese capital market is viewed as having significant investment potential, with optimistic sentiment driven by domestic policy support and advancements in technology sectors like AI and electric vehicles [4][5] Group 4 - Investors are increasingly optimistic about Chinese stocks, with attractive valuations compared to global markets, suggesting potential for further upward movement [4][5] - Wellington Investment provided ten key reasons for the positive outlook on Chinese assets, including improving fundamentals, resilient economic models, and reduced reliance on the US capital market [5]