BSCE Fees and Costs — Invesco BulletShares 2023 USD Emerging Markets Debt ETF
Data updated: 2023-05-01
The net expense ratio is 0.29%. There are no sales loads or redemption fees. Portfolio turnover was 15%.
BSCE Fees and Expenses
Annual operating expenses and sales charges of BSCE. Prospectus, as of August 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
BSCE Costs Over Time
On $10,000 invested in BSCE, assuming 5% a year before costs, total costs come to $184 over 5 years, cutting the return by 0.30% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.29%) | $30 | $96 | $167 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $30 | $100 | $184 |
| Value after costs | $10,470 | $11,476 | $12,579 |
| Impact on return, per year | 0.30% | 0.30% | 0.30% |
BSCE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $35.5M
- Portfolio turnover (prospectus): 15%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $9K (0.028% of average net assets)
BSCE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $9.8M | 31.91% |
| MORGAN STANLEY & CO. LLC | $9.6M | 31.19% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3.0M | 9.80% |
| BNP PARIBAS SECURITIES CORP. | $1.7M | 5.48% |
| CITIGROUP GLOBAL MARKETS INC. | $1.6M | 5.14% |
| MARKETAXESS CORPORATION | $1.4M | 4.55% |
| JEFFERIES LLC | $1.4M | 4.49% |
| SMBC NIKKO SECURITIES AMERICA, INC. | $794K | 2.58% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $752K | 2.44% |
| HSBC SECURITIES (USA) INC. | $746K | 2.42% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.