ETF Evaluator:
Invesco NASDAQ Future Gen 200 ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Small Blend Over the Last Year
| 55.4% | Invesco NASDAQ Future Gen 200 ETF (QQQS) |
| 45.8% | iShares Micro-Cap ETF (IWC) |
| 45.6% | First Trust Small Cap Core AlphaDEX® ETF (FYX) |
| 43.8% | Fidelity Enhanced Small Cap Core ETF (FESM) |
| 38.9% | Inspire Small/Mid Cap ETF (ISMD) |
Risk
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Risk
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ETF Details
Invesco NASDAQ Future Gen 200 ETF Overview
Invesco NASDAQ Future Gen 200 ETF (QQQS) is a passively managed U.S. Equity Small Blend exchange-traded fund (ETF). Invesco launched the ETF in 2022.
The investment seeks to track the investment results (before fees and expenses) of the Nasdaq Innovators Completion Cap IndexTM.
The fund generally will invest at least 90% of its total assets in the securities that comprise the index. The index excludes securities of issuers included in the Nasdaq-100 Index® (an index that measures the performance of 100 of the largest Nasdaq-listed non-financial companies by market capitalization) and the Nasdaq Next Generation 100 Index® (an index that measures the performance of the 100 largest Nasdaq-listed companies outside of the NASDAQ-100 Index® based on market capitalization).
About Invesco NASDAQ Future Gen 200 ETF (QQQS)
There are 3 members of the management team with an average tenure of 3.80 years: Peter Hubbard (2022), Michael Jeanette (2022) and Pratik Doshi (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 2000 TR USD index with a weighting of 100% and Nasdaq Innovators Completion Cap USD index with a weighting of 100%. Invesco NASDAQ Future Gen 200 ETF has 205 securities in its portfolio. The top 10 holdings constitute 8.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco NASDAQ Future Gen 200 ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco NASDAQ Future Gen 200 ETF has 10.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.6% There is 10.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco NASDAQ Future Gen 200 ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $21 million in total assets, which is below the $4 billion average for the Small Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
QQQS Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco NASDAQ Future Gen 200 ETF expense ratio is below average compared to funds in the Small Blend category. Invesco NASDAQ Future Gen 200 ETF has an expense ratio of 0.20%, which is 53% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco NASDAQ Future Gen 200 ETF has a portfolio turnover rate of 73%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Small Blend category.
Recently, in the month of July 2026, Invesco NASDAQ Future Gen 200 ETF returned -6.3%, which earned it a grade of F, as the Small Blend category had an average return of -2.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco NASDAQ Future Gen 200 ETF has a trailing yield of 2.69%, which is above the 1.17% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco NASDAQ Future Gen 200 ETF Grades
Year to date, the ETF has returned 22.5%, 4.5 percentage points better than the category, which translates into a grade of A. The fund has returned 55.4% over the past year (grade of A) and 14.4% over the past three years (grade of B).
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QQQS Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| QQQS Return (NAV) | -6.3% | 4.5% | 55.4% | 14.4% | na | na |
| QQQS Return (Price) | -6.4% | 4.5% | 55.6% | 14.3% | na | na |
| NAV +/- Price Return | 0.038% | 0.049% | -0.143% | 0.061% | na | na |
| Small Blend Avg | -2.1% | 5.7% | 28.5% | 14.0% | 8.0% | 10.8% |
| QQQS Grade (NAV) | F | D | A | B | na | na |
| +/- Category (NAV) | -4.2% | -1.2% | 26.9% | 0.4% | na | na |
| QQQS Tax-Cost Ratio | na | na | 1.3% | 0.7% | na | na |
QQQS Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| QQQS Return (NAV) | 22.5% | 22.8% | 10.5% | -2.1% | na | na | na | na | na | na | na |
| QQQS Return (Price) | 22.5% | 23.0% | 10.2% | -1.9% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.003% | 0.006% | -0.031% | -0.087% | na | na | na | na | na | na | na |
| Small Blend Avg | 18.0% | 8.7% | 11.7% | 16.3% | -15.9% | 24.0% | 12.7% | 24.8% | -9.2% | 14.4% | 19.6% |
| QQQS Grade (NAV) | A | A | C | F | na | na | na | na | na | na | na |
| +/- Category | 4.5% | 14.1% | -1.2% | -18.4% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.77 |
| R-Squared: | 65% |
| Standard Deviation: | 28.7% |
| Category Risk Index: | 1.57 |
| Category Risk Rating: | High |
| Total Risk Index: | 2.34 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 2.7% |
| Total Assets: | $ 22 Mil |
| Share Class Assets: | $ 22 Mil |
| Turnover: | 73.0% |
| Expense Ratio: | 0.20% |
| Index Fund: | Yes |
| Index Tracked: | Russell 2000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.8 years | |||
| Average Tenure: 3.8 years | |||
| Managers (Year): Hubbard Peter (2022), Jeanette Michael (2022), Doshi Pratik (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 205 |
| % in Top 10 Holdings: | 8.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.4% |
Portfolio Allocation |
|
| Domestic Stock: | 89.6% |
| Foreign Stock: | 10.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | October 13, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.20% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.42% |
