Invesco’s acquisition of PowerShares has helped the money manager capitalize on the quickly expanding exchange traded fund industry as investors seek out alternative investment strategies.

Invesco (NYSE: IVZ) shares are up more than 30% the past year.

After a rough patch, CEO Marty Flanagan took the helm at Invesco and acquired the PowerShares ETF line in 2006, reports Kathryn Spice for Morningstar.

The ETF sponsor is well-known for its Nasdaq-100 ETF, the PowerShares QQQ (NasdaqGM: QQQ), which has $35.8 billion in assets and remains the firm’s largest ETF by a wide margin. [QQQ to Welcome Back Old Friend Green Mountain]

The firm, though, has launched a series of fundamental index-based ETFs that track cash flow, book value, sales and dividends to determine a stock’s weight, instead of following traditional market-capitalization weighted indices. [A Market-Beating Fundamental ETF]

Recently, the PowerShares Fundamental ETF suite broke over the $5 billion assets under management mark. [PowerShares Fundamental ETFs Hit $5 Billion]

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