IEMAX Fees and Costs — Invesco Emerging Markets Select Equity Fund, Class A
Data updated: 2023-06-29
The net expense ratio is 1.33%: a 0.93% management fee, a 0.25% 12b-1 fee plus 0.65% other expenses, less a 0.50% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2022 the fund paid $90K in broker commissions, 0.1624% of average net assets, and portfolio turnover was 70%.
IEMAX Fees and Expenses
Annual operating expenses and sales charges of IEMAX. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.93% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.65% |
| Gross expense ratio | 1.83% |
| Fee waiver | −0.50% |
| Net expense ratio | 1.33% |
| 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 |
IEMAX Costs Over Time
On $10,000 invested in IEMAX, assuming 5% a year before costs, total costs come to $1,575 over 5 years, cutting the return by 2.73% 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 |
| Sales charges | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.33%) | $132 | $410 | $707 |
| Trading costs (broker commissions) | $16 | $50 | $86 |
| Lost growth on money paid in costs | $27 | $110 | $232 |
| Total costs | $726 | $1,119 | $1,575 |
| Value after costs | $9,774 | $10,457 | $11,187 |
| Impact on return, per year | 7.26% | 3.50% | 2.73% |
IEMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1624%
- Total broker commissions: $90K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 70%
- Securities on loan, average value: $748K
- Net income from securities lending: $1K (0.002% of average net assets)
IEMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $13K | 19.26% |
| SCOTIA CAPITAL (USA) INC. | $12K | 17.54% |
| CREDIT SUISSE SECURITIES (USA) LLC | $9K | 12.33% |
| UBS SECURITIES LLC | $7K | 10.37% |
| CITIC SECURITIES INTERNATIONAL USA, LLC | $7K | 10.35% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $6K | 8.50% |
| MORGAN STANLEY & CO. LLC | $4K | 6.16% |
| LIQUIDNET, INC. | $4K | 5.60% |
| MACQUARIE CAPITAL (USA) INC. | $3K | 4.96% |
| HSBC SECURITIES (USA) INC. | $3K | 4.94% |
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.