CZA Fees and Costs — Invesco Zacks Mid-Cap ETF
Data updated: 2026-09-28
The net expense ratio is 0.69%: a 0.50% management fee plus 0.19% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $54K in broker commissions, 0.0293% of average net assets, and portfolio turnover was 140%.
CZA Fees and Expenses
Annual operating expenses and sales charges of CZA. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.19% |
| Gross expense ratio | 0.69% |
| Fee waiver | — |
| Net expense ratio | 0.69% |
| 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 |
CZA Costs Over Time
On $10,000 invested in CZA, assuming 5% a year before costs, total costs come to $452 over 5 years, cutting the return by 0.76% 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 0.69%) | $72 | $227 | $394 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $76 | $248 | $452 |
| Value after costs | $10,424 | $11,328 | $12,310 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
CZA 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): 0.0293%
- Total broker commissions: $54K
- Bought from dealers (principal trades, not a cost): $114.7M
- Portfolio turnover (prospectus): 140%
- Securities on loan, average value: $7.0M
- Net income from securities lending: $20K (0.011% of average net assets)
CZA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $45K | 83.91% |
| TD Securities (USA) LLC | $8K | 15.48% |
| CITIGROUP GLOBAL MARKETS INC. | $204 | 0.38% |
| MORGAN STANLEY & CO. LLC | $40 | 0.07% |
| WELLS FARGO SECURITIES, LLC | $23 | 0.04% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $17 | 0.03% |
| BARCLAYS CAPITAL INC. | $15 | 0.03% |
| BNP PARIBAS SECURITIES CORP. | $14 | 0.03% |
| GOLDMAN, SACHS & CO. | $10 | 0.02% |
| UBS SECURITIES LLC | $9 | 0.02% |
CZA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD Securities (USA) LLC | $80.3M | 70.02% |
| BNY MELLON CAPITAL MARKETS, LLC | $11.2M | 9.80% |
| GOLDMAN, SACHS & CO. | $10.9M | 9.52% |
| CITADEL SECURITIES LLC | $3.3M | 2.85% |
| RBC CAPITAL MARKETS, LLC | $3.3M | 2.85% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3.2M | 2.81% |
| UBS SECURITIES LLC | $2.2M | 1.89% |
| WELLS FARGO SECURITIES, LLC | $299K | 0.26% |
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.