C000084398 Fees and Costs — Invesco California Tax-Free Income Fund, Class A
Data updated: 2020-04-29
The net expense ratio is 1.02%: a 0.47% management fee, a 0.25% 12b-1 fee plus 0.30% other expenses. This share class carries a maximum front-end sales load of 4.25%. Portfolio turnover was 17%.
C000084398 Fees and Expenses
Annual operating expenses and sales charges of C000084398. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.02% |
| Fee waiver | — |
| Net expense ratio | 1.02% |
| Sales charges | |
|---|---|
| Max front load | 4.25% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000084398 Costs Over Time
On $10,000 invested in C000084398, assuming 5% a year before costs, total costs come to $1,153 over 5 years, cutting the return by 1.97% 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 |
| Sales charges | $425 | $425 | $425 |
| Fund expenses (net expense ratio 1.02%) | $103 | $320 | $555 |
| Lost growth on money paid in costs | $21 | $83 | $173 |
| Total costs | $549 | $828 | $1,153 |
| Value after costs | $9,951 | $10,749 | $11,610 |
| Impact on return, per year | 5.49% | 2.56% | 1.97% |
C000084398 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $293.4M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
C000084398 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS, LLC | $48.4M | 19.88% |
| MORGAN STANLEY & CO. LLC | $43.8M | 18.00% |
| CITIGROUP GLOBAL MARKETS INC. | $29.0M | 11.91% |
| J.P. MORGAN SECURITIES LLC | $25.6M | 10.53% |
| GOLDMAN, SACHS & CO. | $24.7M | 10.15% |
| BARCLAYS CAPITAL INC. | $17.7M | 7.27% |
| MESIROW FINANCIAL, INC. | $16.6M | 6.82% |
| JEFFERIES LLC | $14.4M | 5.94% |
| BOFA SECURITIES, INC. | $14.3M | 5.89% |
| RBC CAPITAL MARKETS, LLC | $8.8M | 3.61% |
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.