Core Insights - The FT Vest Nasdaq-100 Conservative Buffer ETF – July employs a defined-outcome framework utilizing OCC-cleared FLEX options on the Invesco QQQ Trust, focusing on a one-year outcome period that resets annually in July [1] Investment Strategy - The ETF's investment strategy includes purchasing puts to provide a 20% downside buffer while selling call spreads to finance protection and cap upside potential [1] - Remaining assets are allocated to U.S. Treasury and cash collateral to ensure liquidity and settlement [1] Portfolio Construction - Eligible instruments for the ETF are exchange-listed FLEX options, with strike prices and maturities selected to align with the outcome window and maintain near-full notional exposure [1] - The construction of the portfolio concentrates exposure in a limited number of contracts, with capacity considerations linked to the market depth of QQQ options [1] Rebalancing and Risk Management - Rebalancing occurs systematically at the annual reset, while intra-period activities are influenced by creations/redemptions, roll logistics, and risk management focused on liquidity, exposure drift, and adherence to outcome parameters [1]

Core Insights - The Invesco KBW Premium Yield Equity REIT ETF is attracting risk-tolerant investors due to its high yields amidst declining interest rates on fixed-income investments [1][2] Group 1: Yield and Distributions - The ETF has provided over $1.51 per share in monthly distributions over the past year, resulting in a yield of 9.1% based on a closing price of $16.61 [3] - The SEC 30-day yield stands at 7.72%, making it one of the highest-yielding non-mortgage real estate REITs [3] Group 2: Expense Ratio and Investment Focus - The ETF has a net expense ratio of 0.35%, which is relatively low but not the lowest in its category, where peers can have ratios as low as 0.07% [4] - The fund focuses on smaller, riskier REITs, diverging from typical real estate ETFs that invest in larger, more stable companies [6] Group 3: Top Holdings and Risks - The largest holding is Innovative Industrial Properties, which has faced tenant defaults and significant declines in value, shedding 25% over the past year and 73% over five years [7] - The second largest holding, Community Healthcare Trust, has an 11.1% yield but has seen profitability impacted by rising interest expenses, with a 14% decline over the past year and 64% over five years [8] Group 4: Performance Overview - The ETF has received a one-star rating from Morningstar over the past three, five, and ten years, indicating disappointing performance [9] - Shares are down 6% year-over-year and have fallen 21% over the past five years, despite recent gains in the current year [9]

Core Insights - The Vanguard Mega Cap Growth ETF (MGK) and the Invesco S&P 500 Equal Weight ETF (RSP) are both U.S. equity ETFs but differ significantly in their investment strategies, with MGK focusing on large growth stocks and RSP employing an equal-weighted approach across the S&P 500 [1][8] Cost and Size Comparison - MGK has a lower expense ratio of 0.07% compared to RSP's 0.20% - As of January 15, 2026, MGK's one-year return is 21.27%, while RSP's is 13.32% - MGK offers a dividend yield of 0.35%, whereas RSP provides a higher yield of 1.64% - MGK has assets under management (AUM) of $32 billion, while RSP has $76 billion [3][4] Performance and Risk Analysis - Over the past five years, MGK experienced a maximum drawdown of -36.02%, compared to RSP's -21.39% - A $1,000 investment in MGK would have grown to $2,034 over five years, while the same investment in RSP would have grown to $1,509 [4][11] Portfolio Composition - RSP tracks the S&P 500 Equal Weight Index, providing broad diversification with 504 holdings, and sector allocations of 16% technology, 15% industrials, and 14% financial services [5][6] - MGK allocates 56% of its assets to technology, 16% to communication services, and 12% to consumer cyclicals, with a concentration in a few large-cap stocks like Apple, Nvidia, and Microsoft, which together account for over one-third of its assets [7][9] Investment Implications - RSP is positioned as a more stable investment option with greater diversification and lower risk, while MGK, despite its higher volatility, has a history of outperforming RSP in total returns over both 12-month and five-year periods [10][11]

Core Insights - The Invesco QQQ Trust (QQQ) and Invesco S&P 500 Equal Weight ETF (RSP) are two prominent ETFs with distinct investment strategies, focusing on technology concentration versus equal weight across S&P 500 companies [4][5][6]. Group 1: Performance and Returns - Over the past year, QQQ achieved an approximately 24% return, significantly outperforming RSP's roughly 14% gain, primarily due to the strong performance of the tech sector [6]. - QQQ has approximately $412 billion in assets under management (AUM), while RSP has $78 billion, indicating QQQ's popularity as a tech-focused growth vehicle [6]. Group 2: Portfolio Construction - QQQ is heavily concentrated in megacap technology stocks, with over half of its portfolio in this sector, including top positions like Nvidia, Apple, and Microsoft, which together account for more than 23% of its assets [1][6]. - RSP, in contrast, holds around 505 stocks with a more balanced sector exposure, where Technology, Industrials, and Financial Services each represent 14%-16% of assets, ensuring no single stock dominates [2][7]. Group 3: Risk and Volatility - QQQ's concentrated exposure to technology stocks amplifies both gains and losses, leading to higher volatility compared to RSP, which spreads risk more evenly across its holdings [1][7]. - Both funds are characterized by low expense ratios, but RSP offers a notably higher dividend yield, appealing to income-focused investors [3][5]. Group 4: Investment Strategy - QQQ is suitable for investors seeking higher growth potential and who are comfortable with greater volatility and sector concentration [8]. - RSP provides broader diversification and a higher yield, making it more suitable for investors prioritizing income and risk reduction [8].

Core Insights - The Vanguard S&P 500 ETF (VOO) and the Invesco S&P 500 Equal Weight ETF (RSP) both track the S&P 500 but employ different methodologies, impacting their risk and income profiles [1][2] Cost & Size Comparison - VOO has an expense ratio of 0.03% and AUM of $839 billion, while RSP has a higher expense ratio of 0.20% and AUM of $76 billion [3] - The 1-year return for VOO is 16.88%, compared to RSP's 11.10%, and VOO has a dividend yield of 1.13% versus RSP's 1.64% [3] Performance & Risk Comparison - Over five years, VOO has a max drawdown of -24.53% while RSP's is -21.39% [4] - An investment of $1,000 in VOO would grow to $1,842, while the same investment in RSP would grow to $1,517 over five years [4] Portfolio Composition - RSP's equal-weighted approach results in a more balanced sector allocation, with technology at 16%, industrials at 15%, and financial services at 14% [5] - VOO's market-cap weighting leads to technology comprising 35% of its assets, with top positions including Nvidia, Apple, and Microsoft, each exceeding 6% of the portfolio [6] Investment Implications - VOO is characterized as a higher-risk, higher-reward investment due to its concentration in larger companies, while RSP offers a more stable investment with less volatility [7][10] - The performance of VOO can be significantly impacted by a few large stocks, making it more lucrative in strong markets but also more vulnerable during downturns [9]

Core Viewpoint - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals [1] Group 1 - Invesco emphasizes the importance of understanding investment objectives, risks, charges, and expenses before making investment decisions [1] - The firm provides educational content but does not offer specific investment recommendations or tax advice [1] - Invesco's opinions are based on current market conditions and may change without notice, indicating a dynamic approach to investment strategies [1] Group 2 - Invesco Distributors, Inc. serves as the US distributor for Invesco Ltd.'s retail products and collective trust funds [1] - The company operates through various affiliated investment advisers that provide advisory services without selling securities [1] - Invesco Unit Investment Trusts are distributed by Invesco Capital Markets, Inc. and other broker-dealers, highlighting the firm's extensive distribution network [1]

Core Insights - The Invesco Variable Rate Investment Grade ETF (VRIG) was previously downgraded to 'Hold' due to disappointing performance during the April 2025 market turmoil [1] Group 1: Company Overview - Binary Tree Analytics (BTA) aims to provide transparency and analytics in capital markets instruments and trades, focusing on CEFs, ETFs, and Special Situations [1] - BTA has over 20 years of investment experience and a background in investment banking cash and derivatives trading [1] Group 2: Investment Strategy - BTA aims to deliver high annualized returns with a low volatility profile [1]

Core Viewpoint - Invesco Mortgage Capital Inc. has declared a cash dividend of $0.12 per share for January 2026, with payment scheduled for February 13, 2026, to stockholders of record as of January 26, 2026 [1] Financial Performance - The book value per common share as of January 12, 2026, is estimated to be in the range of $8.94 to $9.30 [7] - The debt-to-equity ratio is estimated to be 6.5x [7] - The economic debt-to-equity ratio is estimated to be 6.9x [7] Company Overview - Invesco Mortgage Capital Inc. is a real estate investment trust focused on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets [8] - The company is externally managed and advised by Invesco Advisers, Inc., a subsidiary of Invesco Ltd., a leading independent global investment management firm [8]

Core Viewpoint - The Invesco KBW Bank ETF (KBWB) achieved a 33% return in 2025, largely unnoticed amidst the focus on AI stocks, due to its equal-weight methodology that diversified investments across 24 major U.S. banks [1] Group 1: Investment Strategy - KBWB's equal-weight approach allowed for balanced exposure across 24 banks, preventing any single institution from dominating the portfolio, which contributed to its outperformance compared to market-cap weighted ETFs like KBE and SPY [2][5] - The equal-weight structure smoothed volatility and provided consistent returns by capturing gains from both megabanks and regional banks during the banking sector's rally [5] Group 2: Market Conditions - The steepening yield curve that began in late 2025 significantly enhanced bank profitability, with the spread widening from near-zero to over 70 basis points, leading to expanded profit margins for banks [3] - Analysts predict that the favorable environment for margin expansion will continue into 2026, with a focus on monitoring the 2-10 Treasury spread for potential signals regarding bank profitability [4] Group 3: Monitoring and Rebalancing - Investors are advised to check Invesco's monthly fact sheet for changes in holdings or weightings after quarterly rebalances, as the equal-weight structure can create buying opportunities in undervalued banks [6] - The quarterly rebalancing of KBWB is crucial for understanding which banks are being adjusted in the portfolio, providing insights into market dynamics [8] Group 4: Alternative Strategies - The First Trust Nasdaq Bank ETF (FTXO) employs a smart beta methodology that ranks banks based on liquidity and fundamental metrics, offering a different selection approach compared to KBWB [7]

Core Viewpoint - Invesco's preliminary assets under management (AUM) reached $2.17 trillion in December 2025, marking a 0.7% increase from the previous month despite a decline in share price due to broader market performance [1][8] AUM Performance - Invesco reported net long-term inflows of $7.7 billion for December, with non-management fee-earning net inflows at $6.1 billion and money market net inflows at $0.7 billion [2] - The AUM was negatively impacted by unfavorable market returns, which decreased AUM by $23 billion, while foreign exchange (FX) and reinvested distributions contributed an increase of $25.4 billion [3][8] - The preliminary average total AUM for the quarter ended December 31 was $2.16 trillion, with preliminary average active AUM at $1.12 trillion [3] Breakdown by Asset Class - As of December 2025, Invesco's AUM in ETFs & Index Strategies was $630.2 billion, up 0.4% from the prior month, and Fundamental Fixed Income AUM rose 0.6% to $311.5 billion [4] - AUM under China joint venture grew by 5.4% to $132.5 billion, while Multi-Asset/Other AUM increased by 1.5% to $69.7 billion [5] - QQQ's AUM was $407.2 billion, up 1% from the previous month, while Fundamental Equities AUM declined 0.3% to $298.4 billion, and Global Liquidity AUM fell 0.3% to $189.7 billion [5] Strategic Outlook - Invesco's strategic expansion plans, strong global presence, diverse offerings, and efforts to boost operating efficiency are expected to support financial performance [6] - The reclassification of QQQ into an open-end ETF and the divestiture of a majority stake in the India business to form a joint venture are anticipated to drive revenue growth [6] - However, volatile flows and high levels of intangible assets are noted as ongoing concerns [6] Market Performance - Over the past three months, Invesco's shares have gained 19.9%, significantly outperforming the industry's increase of 2.2% [7]