Invesco is launching a new Nasdaq ETF to capitalize on the tech craze

In the ETF space, success begets success.



a tall building in a city: A view of NASDAQ in Times Square during the coronavirus pandemic on May 7, 2020 in New York City.


© Provided by CNBC
A view of NASDAQ in Times Square during the coronavirus pandemic on May 7, 2020 in New York City.

Just look at what Invesco is doing today. They’re launching a new product, the NASDAQ Next Gen 100 ETF (QQQJ).

It might more appropriately be called the Nasdaq 100 Junior Varsity list.

The Invesco QQQ Trust (QQQ) started tracking the NASDAQ-100 Index in 1999. Since then, it’s become the fifth-largest ETF listed in the U.S., with $135 billion in assets under management.

Now Invesco is looking to capitalize on the interest in technology and growth stocks by offering a new “junior” QQQ.

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Invesco to Launch Four New Funds Tied to Flagship QQQ Tech ETF

Invesco


IVZ 2.21%

is adding more Qs to its fund lineup, a wager by the world’s fourth-biggest issuer of exchange-traded products that investors’ love affair with technology stocks will continue.

The Atlanta-based asset manager will launch four new investment products tied to its flagship ETF, the

Invesco QQQ Trust

fund. At $134 billion, the Qs, as it is known across Wall Street, has grown to become one of the biggest exchange-traded products in the world and accounts for roughly 42% of Invesco’s ETF assets.

QQQ offers investors exposure to the 100 biggest nonfinancial companies listed on Nasdaq Composite Index and has proved to be a huge draw since the throes of the 2008-09 financial crisis. The four new products look to build on that popularity and help Invesco compete in an industry dominated by

BlackRock Inc.,


BLK 0.54%

Vanguard Group and

State Street Corp.

“This is going to be an

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