CSD Fees and Costs — Invesco S&P Spin-Off ETF
Data updated: 2026-09-28
The net expense ratio is 0.65%: a 0.50% management fee plus 0.16% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $40K in broker commissions, 0.0449% of average net assets, and portfolio turnover was 117%.
CSD Fees and Expenses
Annual operating expenses and sales charges of CSD. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.16% |
| Gross expense ratio | 0.66% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.65% |
| 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 | Yes |
CSD Costs Over Time
On $10,000 invested in CSD, assuming 5% a year before costs, total costs come to $437 over 5 years, cutting the return by 0.73% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $240 | $437 |
| Value after costs | $10,427 | $11,337 | $12,325 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
CSD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0449%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): $87.3M
- Portfolio turnover (prospectus): 117%
- Securities on loan, average value: $8.7M
- Net income from securities lending: $18K (0.020% of average net assets)
CSD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $28K | 71.13% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $5K | 11.45% |
| MIZUHO SECURITIES USA LLC | $3K | 6.77% |
| BARCLAYS CAPITAL INC. | $2K | 4.11% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $1K | 2.74% |
| MORGAN STANLEY & CO. LLC | $893 | 2.24% |
| RBC CAPITAL MARKETS, LLC | $340 | 0.85% |
| TD Securities (USA) LLC | $202 | 0.51% |
| CITIGROUP GLOBAL MARKETS INC. | $64 | 0.16% |
| WELLS FARGO SECURITIES, LLC | $16 | 0.04% |
CSD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $44.4M | 50.84% |
| CITADEL SECURITIES LLC | $17.7M | 20.23% |
| JANE STREET CAPITAL, LLC | $10.9M | 12.43% |
| VIRTU AMERICAS LLC | $6.9M | 7.91% |
| GOLDMAN, SACHS & CO. | $4.2M | 4.75% |
| BNY MELLON CAPITAL MARKETS, LLC | $2.2M | 2.56% |
| HRT Financial LP | $1.1M | 1.26% |
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.