Business
Invesco QQQ Shareholders Vote to Approve Modernization
Invesco Ltd. (NYSE: IVZ), a leading global asset management firm announced today that shareholders in Invesco QQQ Trust, Series 1, voted to approve proposals to modernize Invesco QQQ, restructuring it from a unit investment trust ETF to an open-end fund ETF, and changing its governance structure to a board of trustees. Invesco expects QQQ to begin trading as an open-end fund on Monday, December 22.
About this update from Invesco Ltd
[{"type":"text","content":"Historical change to the structure of Invesco QQQ reduces investor fees by 10% and marks a new era for the 26-year-old fund","length":123,"tagName":"p"},{"type":"text","content":"ATLANTA, Dec. 19, 2025 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a leading global asset management firm announced today that shareholders in Invesco QQQ Trust, Series 1, voted to approve proposals to modernize Invesco QQQ, restructuring it from a unit investment trust ETF to an open-end fund ETF, and changing its governance structure to a board of trustees. Invesco expects QQQ to begin trading as an open-end fund on Monday, December 22.","length":440,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Invesco Ltd.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Invesco Ltd.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":70,"url":"https://media.zenfs.com/en/prnewswire.com/7a4d4453e519de376796372b0516e8a4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/4zxol4rdAuqrRsNcRHQssg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEyMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/7a4d4453e519de376796372b0516e8a4","width":400,"height":70}},"href":"https://mma.prnewswire.com/media/1434026/Invesco_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"As part of this conversion, shareholders of Invesco QQQ will benefit from a decrease in the fund's total expense ratio from 0.20% to 0.18%. The reclassification also provides the opportunity for Invesco QQQ to reinvest income and participate in securities lending. There will be no tax implications from this conversion for QQQ investors.","length":342,"tagName":"p"},{"type":"text","content":""I want to thank the shareholders who voted to transform Invesco QQQ into a modern ETF format. We are proud to deliver a ten percent reduction in fees to QQQ investors while creating more flexibility to utilize tools that could deliver better outcomes for investors," said Andrew Schlossberg, President and CEO of Invesco. "This is an important milestone that demonstrates our intention to deliver continuous product excellence and respond to the needs of our clients."","length":489,"tagName":"p"},{"type":"text","content":"QQQ will continue to track the Nasdaq-100 Index®, the 100 largest non-financial companies listed on the Nasdaq Stock Exchange....