Core Insights - Invesco QQQ Trust has undergone a significant restructuring, transitioning from a unit investment trust ETF to an open-end fund ETF, which is expected to reduce investor fees by 10% [1][2][3] Fund Structure and Fees - The total expense ratio for Invesco QQQ will decrease from 0.20% to 0.18% as part of the conversion [2] - The new structure allows for reinvestment of income and participation in securities lending, with no tax implications for investors [2] Management and Strategy - Andrew Schlossberg, President and CEO of Invesco, emphasized the importance of this transformation in delivering better outcomes for investors and responding to client needs [3] - The modernized QQQ will continue to track the Nasdaq-100 Index, which includes the 100 largest non-financial companies listed on the Nasdaq [3] Innovation and Product Offering - The reclassification aligns with Invesco's goal to provide innovative ETF solutions, enhancing access to the Nasdaq-100 Index [4] - Invesco QQQ remains a key component of the Invesco QQQ Innovation Suite, which offers a range of ten differentiated ETFs for customized exposure to the index [4][5] Assets Under Management - As of November 30, 2025, the assets under management for the Invesco QQQ Innovation Suite total approximately $474.7 billion, the highest among providers tracking the Nasdaq-100 Index [5] Company Overview - Invesco Ltd. is a leading global asset management firm with $2.1 trillion in assets under management as of September 30, 2025, serving clients in over 120 countries [6]