Invesco ($IVZ) podcast mentions
First off, just want to say I love the show and the content that you guys bring. My question's about an ETF, and it's an Invesco ETF. It's SPHQ. It's a factor ETF. It invests in high-quality companies in the S&P, and it resets every 6 months, I believe, from the research I've been doing on it. Just want to get your take on this. Don't really have time to do individual stocks for the most part, so I'm just looking at something like this, and then I'd probably just average into it, you know, maybe $100 a week for indefinitely. Just want to hear your take on that. And, uh, thanks again, guys.
Speaker C · InvestTalk · Gold's Big Comeback: Why the World's Largest Money Managers Are Loading Up Again · 2026-09-15All right, let's take a look at SPHQ. It is the Invesco S&P 500 Quality ETF. So what they're trying to do here is they take their S&P 500 firms and tilt towards companies with sound fundamentals. What the heck does that mean? Well, that means they're looking at 3 quality metrics: return on equity, uh, trailing 12-month earnings per share relative to book value. So it's measuring profitability, uh, lower accruals. So change in net operating assets scaled by average net operating assets over the past couple years. So they're essentially trying to signal higher earnings quality and low financial leverage as well. So measuring risk and earnings stability. So they use those things, they weigh them to produce essentially a quality score. And so with that quality score, they take the top quintile and they scale them based on that quality score while capping a single sector exposure at 40%.
Luke Guerrero · InvestTalk · Gold's Big Comeback: Why the World's Largest Money Managers Are Loading Up Again · 2026-09-15That's only US large-cap names. So if this is a core position in your portfolio, not sure I like it as the core. If it's a satellite position in the portfolio that you're putting, you know, 3-4% in, I think that's more reasonable. But I always hesitate again to have the S&P 500 to be my starter because you leave out all your all the midcaps, you leave out all the small caps. You're only investing in 500 names that is selected by a committee. And so you're really shrinking what your investable universe is. Things I like. Okay, here's some things I like. I like that price-to-cash flow is a bit lower. I like that it tends to tilt towards some of those smaller names in the S&P 500. But for an ETF who has a prospectus benchmark and then underperforms that prospective benchmark on the long term, bit of a red flag for me. So for SPHQ, that is the Invesco S&P 500 Quality ETF, I think we're going to have to pass.
Luke Guerrero · InvestTalk · Gold's Big Comeback: Why the World's Largest Money Managers Are Loading Up Again · 2026-09-15That decline is because the market perceives an overreliance on OpenAI. Imagine what the market would do to Oracle stock if OpenAI fails. The ramifications of an OpenAI failure extend far beyond just Oracle. Remember I said that AI CapEx accounts for 50% of US GDP growth. While the other hyperscalers are not quite as dependent on Anthropic and OpenAI as Oracle, they are dependent enough. If OpenAI failed, the hyperscalers, I am sure, would cut back on their CapEx. So I'm starting to think that the demise of OpenAI could push the US into an almost immediate recession. So what would happen to particular stocks and sectors? Well, first, the hyperscalers would go down. A failure of OpenAI would mean they would pull back on CapEx. Cloud revenue growth would slow. And these stocks— Amazon, Google, Microsoft, and Oracle— NVIDIA, I'm sure, as well— would all correct. Also, the whole tech sector would correct, but the ramifications valuations are even much broader than just that. Investment banks and large banks. These stocks are at peak valuations. Also, the investment banking cycle is super strong right now, partially because of the financing needs of AI. Should those needs lessen, the investment banking cycle would weaken and these stocks would correct from their peak valuations. Industrials. There is a subset of industrial companies that are major beneficiaries of AI. They are in the power space like GE Vernova and Quanta, or they are in the electrification or automation spaces like Eaton and Rockwell. These stocks will decline as well. So what will do well? This is not a stock picking question, but a reallocation question. Investors will reallocate to safety sectors and subsectors. In the safety sector category, think about healthcare and consumer staples. I'd also point out that within almost every sector there exists safety subsectors. For example, within financials, the property and casualty sector is considered the safety subsector. Since we are talking about capital reallocation and not stock picking, let me flag 3 safety ETFs. One, LVHD, the Franklin US Low Volatility High Dividend Index ETF. SPLV, the Invesco S&P 500 Low Volatility ETF. And finally, the KBWP, which is the Invesco KBW Property and Casualty Insurance ETF. It's still early, and I want to emphasize that I am not making a major call. Not yet. I'm just preparing.
Steve Eisman · The Real Eisman Playbook · Is OpenAI the Achilles’ Heel of the US Economy? | The Weekly Wrap · 2026-09-04Amy Silverman with us here. Thrilled to have her with RBC this morning. Coming up, Christina Capmany of Invesco is— well, it's Labor Day. It's a point where people set up for Q4 to get to the February boni. Is Wall Street participating in this enthusiasm? In the market? I get IB is good, I guess obtaining private credit's good, etc. But is Wall Street in the markets right now or are they just getting whipsawed so much they can't get— you know, they can't get the week started?
Tom Keene · Bloomberg Surveillance · August Jobs Report · 2026-09-04Amy Silverman with us. We'll continue. RBC Capital Markets. Well, Caroline's going to give us a business flash here in a bit. Christina Capmany with Invesco as well. And then on to some really good conversations wrapped around the holiday. Markets pull back a little bit, equity markets, I should say, with the VIX 14.16, still can't get over that curve right now. And the yields basically got a 7 basis point move in the 2-year yield, 4.41%, with Amy Silverman, Damien Sassar.
Tom Keene · Bloomberg Surveillance · August Jobs Report · 2026-09-04Christina Campbelle going, why am I doing this? Joining us now with Invesco, as she always does on Jobs Day. How's your summer been at the desk in front of the Bloomberg terminal? Is it like like you're making coupon and things are good, or has it just been nuts?
Tom Keene · Bloomberg Surveillance · August Jobs Report · 2026-09-04would Invesco deal with the odd boom economy nominal GDP we have, inflation-loaded, let's say, but also a real GDP-loaded 162,000 jobs. How do you structure a bond portfolio knowing nominal has to come down but you don't know how nominal yields have to come down or nominal GDP has come down?
Tom Keene · Bloomberg Surveillance · August Jobs Report · 2026-09-04Christine Cantrell, thank you so much with Invesco. Stay with us. More from Bloomberg Surveillance coming up after this.
Tom Keene · Bloomberg Surveillance · August Jobs Report · 2026-09-04Amy Silverman with us here. Thrilled to have her with RBC. This morning. Coming up, Christina Capmany of Invesco is— well, it's Labor Day. It's a point where people set up for Q4 to get to the February boni. Is Wall Street participating in this enthusiasm in the market? I get IB is good, I guess obtaining private credit is good, etc. But is Wall Street in the markets right now or are they just getting whipsawed so much they can't get— you know, they can't get the week started?
Tom Keene · Bloomberg Surveillance · Instant Reaction: US Adds 162,000 Jobs, Topping All Estimates · 2026-09-04Christina Cantwell going, why am I doing this? Joining us now with Invesco, as she always does, on Jobs Day. How's your summer been at the desk in front of the Bloomberg terminal? Is it like you're making coupon and things are good, or has it just been nuts?
Tom Keene · Bloomberg Surveillance · Instant Reaction: US Adds 162,000 Jobs, Topping All Estimates · 2026-09-04How do you— at Invesco— deal with the odd boom economy nominal GDP? We have inflation loaded, let's say, but also a real GDP loaded 162,000 jobs. How do you structure a bond portfolio knowing nominal has to come down, but you don't know how nominal yields have to come down or nominal GDP has come down.
Tom Keene · Bloomberg Surveillance · Instant Reaction: US Adds 162,000 Jobs, Topping All Estimates · 2026-09-04Amy Silverman with us here. Thrilled to have her with RBC. This morning. Coming up, Christina Capmany of Invesco is— well, it's Labor Day. It's a point where people set up for Q4 to get to the February boni. Is Wall Street participating in this enthusiasm in the market? I get IB is good, I guess obtaining private credit is good, etc. But is Wall Street in the markets right now or are they just getting whipsawed so much they can't get You know, they can't get the week started.
Tom Keene · Bloomberg Intelligence · Instant Reaction: US Adds 162,000 Jobs, Topping All Estimates · 2026-09-04Christina Campmany going, why am I doing this? Joining us now with Invesco, as she always does, on Jobs Day. How's your summer been at the desk in front of the Bloomberg terminal? Is it like you're making coupon and things are good, or has it just been nuts?
Tom Keene · Bloomberg Intelligence · Instant Reaction: US Adds 162,000 Jobs, Topping All Estimates · 2026-09-04How do you at Invesco deal with the odd boom economy nominal GDP? We have inflation loaded, let's say, but also a real GDP loaded, 162,000 jobs. How do you structure a bond portfolio knowing nominal has to come down but you don't know how?
Tom Keene · Bloomberg Intelligence · Instant Reaction: US Adds 162,000 Jobs, Topping All Estimates · 2026-09-04