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As one of the first “dynamic” or smart beta, ETF issuers Invesco’s (IVZ) successful PowerShares line of ETFs has managed to amass nearly $92 billion in ETF assets. Those profits put IVZ in a solid fourth place (behind privately held Vanguard) on the ETF league tables.

Invesco IVZAnd new client money continues to pour into Invesco’s niche: specialty funds covering everything from water investments and alternative energy. IVZ saw its PowerShares QQQ (QQQ) pull in nearly $800 million in new investor money alone during the quarter.

Like BlackRock and State Street, Invesco continues see the fruits of those higher asset counts at its ETF business. Fee income continues to rise, and IVZ managed to produce a 34% rise in profits due to asset inflows. Again, the bulk of the increase was due to strong gain at its PowerShares ETF arm.

As for shares of IVZ, now could be the time to buy — the asset manager has suffered due to the exit of a key fund manager at its U.K. investment division. However, with ETFs clearly running the show at Invesco, the exit of Neil Woodford shouldn’t matter nearly as much as the market thinks. IVZ currently trades for a P/E of 15.

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