PBJ Fees and Costs — Invesco Food & Beverage ETF
Data updated: 2026-09-28
The net expense ratio is 0.63%: a 0.50% management fee plus 0.14% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $48K in broker commissions, 0.0496% of average net assets, and portfolio turnover was 107%.
PBJ Fees and Expenses
Annual operating expenses and sales charges of PBJ. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.14% |
| Gross expense ratio | 0.64% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.63% |
| 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 | Yes |
PBJ Costs Over Time
On $10,000 invested in PBJ, assuming 5% a year before costs, total costs come to $428 over 5 years, cutting the return by 0.71% 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 0.63%) | $66 | $207 | $360 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $71 | $234 | $428 |
| Value after costs | $10,429 | $11,342 | $12,335 |
| Impact on return, per year | 0.71% | 0.71% | 0.71% |
PBJ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0496%
- Total broker commissions: $48K
- Bought from dealers (principal trades, not a cost): $79.8M
- Portfolio turnover (prospectus): 107%
- Securities on loan, average value: $10.8M
- Net income from securities lending: $21K (0.022% of average net assets)
PBJ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $28K | 57.81% |
| MORGAN STANLEY & CO. LLC | $10K | 20.48% |
| RBC CAPITAL MARKETS, LLC | $5K | 10.85% |
| BARCLAYS CAPITAL INC. | $3K | 5.79% |
| TD Securities (USA) LLC | $2K | 4.78% |
| MIZUHO SECURITIES USA LLC | $96 | 0.20% |
| UBS SECURITIES LLC | $13 | 0.03% |
| WELLS FARGO SECURITIES, LLC | $12 | 0.02% |
| GOLDMAN, SACHS & CO. | $10 | 0.02% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $6 | 0.01% |
PBJ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $34.9M | 43.69% |
| RBC CAPITAL MARKETS, LLC | $14.8M | 18.49% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $11.5M | 14.45% |
| BNY MELLON CAPITAL MARKETS, LLC | $6.1M | 7.69% |
| ABN AMRO Clearing USA LLC | $3.9M | 4.90% |
| JANE STREET CAPITAL, LLC | $3.8M | 4.76% |
| VIRTU AMERICAS LLC | $2.4M | 3.01% |
| GOLDMAN, SACHS & CO. | $2.4M | 3.01% |
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.