Category Review
Cash-flow quality returned 42% while QUAL returned 17%
Invesco Nasdaq Free Cash Flow Achievers ETF
$37.34−0.06 (−0.16%)
- 0.39%
- $10M
- +5.5%
- 0.24%
- 0M sh
- $37.45
- low $30.58high $38.28
The ETF.net QOWZ Grade
C
Score 50 out of 100
- 17 of 26
Score 50 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C48 out of 100Rank 14 of 26Mission
Whether the fund did what it promised, tested against its stated mandate.A81 out of 100Rank 7 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F20 out of 100Rank 24 of 26Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C46 out of 100Rank 16 of 26Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D37 out of 100Rank 21 of 26Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C40 out of 100Rank 17 of 26
Our read on QOWZ
CMost growth funds rank stocks by how fast sales climb. QOWZ starts with cash, tracking a Nasdaq index that picks roughly 50 US companies on the free cash flow they actually generate. A quality filter wearing a growth label.
The Fund seeks to track, before fees and expenses, the Nasdaq US Free Cash Flow Achievers Index. It invests at least 90% of total assets in securities comprising that Index.
Why people hold it
- One rule, written down: track the Nasdaq US Free Cash Flow Achievers Index and keep at least 90% of assets in its components. No manager hunches.invesco.com
- Free cash flow is a hard number, not a story. Screening on it puts a quality test in front of the usual growth metrics.
- Concentrated by design at roughly 50 names, so the cash screen shows up in the portfolio instead of being diluted across hundreds of positions.
- Invesco launched it in December 2023 and billed it as a first-to-market strategy in its smart beta lineup. Distributions come quarterly.invesco.com
Worth knowing
- It charges 0.39% a year. Plain large-cap growth index funds like VUG and SCHG run 0.03% to 0.04%, so the screen carries a real cost to justify.
- One of the smaller, thinner-traded funds in the growth aisle, which can mean wider bid-ask spreads than the household-name trackers.
- Live only since late 2023, so its record is short next to the decades-old index funds sitting beside it on the shelf.
QOWZ Holdings
- Stocks
- 53
- 43%
- NVDA
Sectors
- Technology67.1%
- Industrials10.9%
- Health Care10.9%
- Financials5.4%
- Consumer Discretionary3.1%
- Consumer Staples2.5%
Geography
- United States100.00%
QOWZ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
QOWZ$10,554
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | QOWZ |
|---|---|
| Year to date | +4.6% |
| 1 month | +3.7% |
| 3 months | +7.8% |
| 1 year | +5.5% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | QOWZ |
|---|---|---|
| 2026 YTD | +4.6% | |
| 2025 | +7.2% | |
| 2024 | +33.2% | |
| 2023 | +6.4% |
QOWZ in the news
QOWZ Dividends
- 0.24%
- $0.09
- $0.02 per share
- Quarterly
Distribution history
QOWZ Risk
- 14.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.69
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −20.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.02
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
QOWZ Cost
0.39%
QOWZ0.39%
- The middle half of US Quality Index funds
- Median 0.39%
13 of the 26 US Quality Index funds charge less.
Other funds in US Quality Index
- BAVUQAvantis U.S. Quality ETFExpense ratio 0.15%1 year return +18.6%
- CLCOWPacer Funds Trust - Pacer S&P 500 Quality FCF Aristocrats ETFExpense ratio 0.49%1 year return +21.5%
- CABFLAbacus FCF Leaders ETFExpense ratio 0.49%1 year return +17.4%
- CSFLOVictoryShares Small Cap Free Cash Flow ETFExpense ratio 0.56%1 year return +40.0%
- CFTCEFirst Trust New Constructs Core Earnings Leaders ETFExpense ratio 0.60%1 year return +15.6%