The Invesco QQQ Trust Series 1 (QQQ) is heading into a new era. On Friday, December 19th, Invesco announced that QQQ's shareholders voted to approve a series of proposals to modernize the longstanding fund. This includes shifting QQQ from a unit investment trust ETF into an open-end fund ETF, along with pivoting its governance structure towards a board of trustees. Notably, QQQ's expense ratio will also be dropping from 0.20% to 0.18%. The implications that these changes will bring to the fund are significa ...

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. Historical change to the structure of Invesco QQQ reduces investor fees ...

The phone calls will keep coming for shareholders in one of the world’s largest ETFs, if they haven’t voted already. Invesco is in the process of turning its flagship $400B QQQ fund from a unit investment trust to an open-end fund, and it needs shareholders’ proxy votes to do it. If approved, the change would also make Invesco the trustee, a switch from current trustee BNY Mellon, and approve an investment advisory agreement between the ETF and Invesco. Much of the fund’s fee revenue goes to BNY and Nasda ...