ISEM Fees and Costs — Invesco RAFI Strategic Emerging Markets ETF
Data updated: 2023-05-01
The net expense ratio is 0.35%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $15K in broker commissions, 0.0502% of average net assets, and portfolio turnover was 37%.
ISEM Fees and Expenses
Annual operating expenses and sales charges of ISEM. Prospectus, as of August 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.35% |
| Fee waiver | — |
| Net expense ratio | 0.35% |
| 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 |
ISEM Costs Over Time
On $10,000 invested in ISEM, assuming 5% a year before costs, total costs come to $253 over 5 years, cutting the return by 0.42% 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 0.35%) | $37 | $115 | $201 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $138 | $253 |
| Value after costs | $10,458 | $11,438 | $12,509 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
ISEM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0502%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $20.8M
- Portfolio turnover (prospectus): 37%
- Securities on loan, average value: $888K
- Net income from securities lending: $7K (0.024% of average net assets)
ISEM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE SECURITIES (USA) LLC | $7K | 49.54% |
| MIZUHO SECURITIES USA LLC | $3K | 19.71% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3K | 16.62% |
| MORGAN STANLEY & CO. LLC | $1K | 7.20% |
| CITIGROUP GLOBAL MARKETS INC. | $864 | 5.74% |
| INVESCO CAPITAL MARKETS, INC. | $77 | 0.51% |
| UBS SECURITIES LLC | $63 | 0.42% |
| VIRTU AMERICAS LLC | $21 | 0.14% |
| RAYMOND JAMES & ASSOCIATES, INC. | $13 | 0.08% |
| STATE STREET GLOBAL MARKETS, LLC | $4 | 0.02% |
ISEM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $17.8M | 85.49% |
| MORGAN STANLEY & CO. LLC | $1.4M | 6.66% |
| CREDIT SUISSE SECURITIES (USA) LLC | $1.4M | 6.57% |
| UBS SECURITIES LLC | $266K | 1.28% |
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.