Invesco Nasdaq Free Cash Flow Achievers ETF
QOWZ
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- Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) is an exchange-traded fund that seeks to track the investment results, before fees and expenses, of the Nasdaq US Free Cash Flow Achievers™ Index. The fund invests at least 90% of its total assets in securities comprising the index, which targets U.S.-listed companies from the NASDAQ US Benchmark Index demonstrating continuous and stable free cash flow growth, defined as positive free cash flow—cash remaining after operating expenses and capital expenditures—for each of the trailing 11 years; eligible companies, approximately 50 in number, are selected based on the greatest number of year-over-year increases in positive free cash flow over that period without prioritizing yield. Top holdings as of recent data include NVIDIA Corp (approximately 10-11%), Broadcom Inc, Meta Platforms Inc, Mastercard Inc, and KLA Corp, spanning sectors such as technology, healthcare, financials, and industrials with a focus on large-cap growth, blend, and mid-cap exposures. Launched on December 6, 2023, QOWZ reconstitutes annually in June and rebalances quarterly to reflect index changes. The ETF is issued and managed by Invesco Ltd., an independent global investment management firm founded in 1935 with roots in Atlanta, Georgia, where it maintains headquarters at 1555 Peachtree St NE; Invesco operates worldwide with offices in 20 countries and manages assets across equities, fixed income, alternatives, and ETFs under brands including Invesco and PowerShares. Recent developments include quarterly rebalances and annual reconstitution maintaining exposure to high free cash flow achievers amid evolving market conditions, with distributions paid regularly—such as $0.01556 per share in September 2025 ordinary income—and performance since inception showing a NAV total return of approximately 27% as of mid-2025 periods. Invesco has expanded its smart beta ETF suite with QOWZ as a first-to-market product launched in late 2023, alongside no reported acquisitions, partnerships, or strategic shifts specific to this fund within the last 1-2 years; broader firm activities encompass ongoing asset management growth to over $1.5 trillion in AUM as of 2023. QOWZ trades on the Nasdaq Stock Exchange, targeting investors seeking quality U.S. equity growth via free cash flow metrics, with geographic focus limited to U.S.-listed securities.