IPKW Fees and Costs — Invesco International BuyBack Achievers ETF
Data updated: 2026-09-29
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $141K in broker commissions, 0.0645% of average net assets, and portfolio turnover was 108%.
IPKW Fees and Expenses
Annual operating expenses and sales charges of IPKW. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| 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 | No |
IPKW Costs Over Time
On $10,000 invested in IPKW, assuming 5% a year before costs, total costs come to $387 over 5 years, cutting the return by 0.65% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $7 | $21 | $37 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $65 | $212 | $387 |
| Value after costs | $10,435 | $11,364 | $12,375 |
| Impact on return, per year | 0.65% | 0.65% | 0.65% |
IPKW Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0645%
- Total broker commissions: $141K
- Bought from dealers (principal trades, not a cost): $368.8M
- Portfolio turnover (prospectus): 108%
- Securities on loan, average value: $9.4M
- Net income from securities lending: $42K (0.019% of average net assets)
IPKW Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $37K | 26.40% |
| BTIG, LLC | $31K | 21.76% |
| MORGAN STANLEY & CO. LLC | $23K | 16.22% |
| UBS SECURITIES LLC | $22K | 15.62% |
| JEFFERIES LLC | $18K | 13.16% |
| RBC CAPITAL MARKETS, LLC | $4K | 2.67% |
| BARCLAYS CAPITAL INC. | $2K | 1.56% |
| CITIGROUP GLOBAL MARKETS INC. | $2K | 1.13% |
| CITIC SECURITIES INTERNATIONAL USA, LLC | $2K | 1.08% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $554 | 0.40% |
IPKW Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $245.2M | 66.49% |
| BNY MELLON CAPITAL MARKETS, LLC | $51.5M | 13.98% |
| UBS SECURITIES LLC | $45.9M | 12.44% |
| CITIGROUP GLOBAL MARKETS INC. | $19.9M | 5.39% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $4.3M | 1.17% |
| VIRTU AMERICAS LLC | $2.0M | 0.53% |
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.