KBWY Fees and Costs — Invesco KBW Premium Yield Equity REIT ETF
Data updated: 2026-07-28
The net expense ratio is 0.35%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $325K in broker commissions, 0.1410% of average net assets, and portfolio turnover was 77%.
KBWY Fees and Expenses
Annual operating expenses and sales charges of KBWY. Prospectus, as of December 31, 2025.
| 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 |
KBWY Costs Over Time
On $10,000 invested in KBWY, assuming 5% a year before costs, total costs come to $310 over 5 years, cutting the return by 0.52% 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) | $15 | $46 | $81 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $52 | $170 | $310 |
| Value after costs | $10,448 | $11,407 | $12,453 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
KBWY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1410%
- Total broker commissions: $325K
- Bought from dealers (principal trades, not a cost): $161.6M
- Portfolio turnover (prospectus): 77%
- Securities on loan, average value: $39.5M
- Net income from securities lending: $51K (0.022% of average net assets)
KBWY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MACQUARIE CAPITAL (USA) INC. | $173K | 53.23% |
| INVESCO CAPITAL MARKETS, INC. | $67K | 20.56% |
| CITADEL SECURITIES LLC | $33K | 10.25% |
| MORGAN STANLEY & CO. LLC | $27K | 8.38% |
| STUART FRANKEL & CO., INC. | $9K | 2.92% |
| COWEN AND COMPANY | $7K | 2.13% |
| MIZUHO SECURITIES USA LLC | $4K | 1.32% |
| JEFFERIES LLC | $3K | 0.97% |
| WELLS FARGO SECURITIES, LLC | $443 | 0.14% |
| JANE STREET EXECUTION SERVICES, LLC | $331 | 0.10% |
KBWY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $43.1M | 26.70% |
| CITADEL SECURITIES LLC | $32.9M | 20.35% |
| MACQUARIE CAPITAL (USA) INC. | $30.8M | 19.06% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $18.3M | 11.32% |
| JANE STREET CAPITAL, LLC | $16.7M | 10.36% |
| GOLDMAN, SACHS & CO. | $10.0M | 6.17% |
| ABN AMRO CLEARING CHICAGO LLC | $6.1M | 3.80% |
| RBC CAPITAL MARKETS, LLC | $2.7M | 1.66% |
| VIRTU AMERICAS LLC | $941K | 0.58% |
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.