IARAX Fees and Costs — Invesco Real Estate Fund, Class A
Data updated: 2026-07-28
The net expense ratio is 1.27%: a 0.74% management fee, a 0.25% 12b-1 fee plus 0.28% other expenses. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2026 the fund paid $375K in broker commissions, 0.0524% of average net assets, and portfolio turnover was 63%.
IARAX Fees and Expenses
Annual operating expenses and sales charges of IARAX. Prospectus, as of June 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.28% |
| Gross expense ratio | 1.27% |
| Fee waiver | — |
| Net expense ratio | 1.27% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 |
IARAX Costs Over Time
On $10,000 invested in IARAX, assuming 5% a year before costs, total costs come to $1,479 over 5 years, cutting the return by 2.55% 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 | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.27%) | $126 | $392 | $677 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $28 | $107 | $223 |
| Total costs | $709 | $1,065 | $1,479 |
| Value after costs | $9,791 | $10,511 | $11,284 |
| Impact on return, per year | 7.09% | 3.32% | 2.55% |
IARAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0524%
- Total broker commissions: $375K
- Bought from dealers (principal trades, not a cost): $3.0M
- Portfolio turnover (prospectus): 63%
- Securities on loan, average value: $28.6M
- Net income from securities lending: $41K (0.006% of average net assets)
IARAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $88K | 23.85% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $73K | 19.79% |
| GOLDMAN, SACHS & CO. | $58K | 15.75% |
| J.P. MORGAN SECURITIES LLC | $57K | 15.42% |
| INVESCO CAPITAL MARKETS, INC. | $37K | 10.11% |
| BARCLAYS CAPITAL INC. | $19K | 5.28% |
| LIQUIDNET, INC. | $14K | 3.84% |
| CANTOR FITZGERALD & CO. | $11K | 2.89% |
| UBS SECURITIES LLC | $6K | 1.56% |
| WELLS FARGO SECURITIES, LLC | $6K | 1.51% |
IARAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $1.7M | 56.47% |
| RBC CAPITAL MARKETS, LLC | $1.3M | 43.53% |
Invesco Real Estate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| IARFX | Class R6 | 0.84% | none |
| IARIX | Class R5 | 0.89% | none |
| IARYX | Class Y | 1.02% | none |
| REINX | Investor Class | 1.24% | none |
| IARAX | Class A | 1.27% | 5.50% |
| IARRX | Class R | 1.52% | none |
| IARCX | Class C | 2.02% | none |
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.