BSMM Fees and Costs — Invesco BulletShares 2022 Municipal Bond ETF
Data updated: 2023-01-30
The net expense ratio is 0.18%. There are no sales loads or redemption fees. Portfolio turnover was 1%.
BSMM Fees and Expenses
Annual operating expenses and sales charges of BSMM. Prospectus, as of December 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.18% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.18% |
| Fee waiver | — |
| Net expense ratio | 0.18% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BSMM Costs Over Time
On $10,000 invested in BSMM, assuming 5% a year before costs, total costs come to $114 over 5 years, cutting the return by 0.19% 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 0.18%) | $19 | $59 | $104 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $19 | $62 | $114 |
| Value after costs | $10,481 | $11,514 | $12,648 |
| Impact on return, per year | 0.19% | 0.19% | 0.19% |
BSMM 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): $73.1M
- Portfolio turnover (prospectus): 1%
- Securities lending: none during the year
BSMM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $35.0M | 49.29% |
| D.A. DAVIDSON & CO. | $11.4M | 16.09% |
| RBC CAPITAL MARKETS, LLC | $5.8M | 8.23% |
| MORGAN STANLEY & CO. LLC | $4.6M | 6.55% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3.3M | 4.61% |
| BARCLAYS CAPITAL INC. | $3.0M | 4.27% |
| CITIGROUP GLOBAL MARKETS INC. | $3.0M | 4.25% |
| GOLDMAN, SACHS & CO. | $2.0M | 2.87% |
| BNY MELLON CAPITAL MARKETS, LLC | $1.7M | 2.41% |
| JEFFERIES LLC | $1.0M | 1.43% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.