Invesco Ltd. (IVZ) reported a 32% increase in assets in its ETF unit during the second quarter, reaching $546.9 billion compared to $415.1 billion last year. The unit saw $40.6 billion in market gains as the S&P 500 rose 11%, a significant jump from last year’s $3.8 billion.

Invesco’s ETF and index business experienced a significant market gain of $40.6 billion during the second quarter, nearly 12 times the previous year’s gains. The company’s QQQ Trust does not generate management fees, but a similar ETF, the QQQM, saw $5.6 billion in net inflows during the quarter.

Invesco aims to restructure its QQQ Trust to generate fees, as the company’s overall ETF and index business saw net inflows of $12.6 billion, down 23% from the first quarter. The company’s second-largest fund, the RSP, experienced net outflows of $2.9 billion.

Invesco highlighted “Another strong quarter with annualized organic growth of +10%” in a slide presentation, emphasizing continued market share gains. The company’s business unit that includes ETFs and indexes reported strong growth across geographies.

Other ETF issuers, like Blackrock Inc. (BLK) and Charles Schwab Corp. (SCHW), also saw growth in their businesses during the second quarter. Blackrock’s iShares ETF franchise attracted $85 billion in net flows, while Schwab’s ETF assets rose 26% during the quarter.

Read more at Yahoo Finance: Invesco Q2 ETF Assets Leap 32% on Strong QQQM Inflows