PDP Fees and Costs — Invesco Dorsey Wright Momentum ETF
Data updated: 2026-09-28
The net expense ratio is 0.62%: a 0.50% management fee plus 0.12% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $235K in broker commissions, 0.0166% of average net assets, and portfolio turnover was 154%.
PDP Fees and Expenses
Annual operating expenses and sales charges of PDP. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.12% |
| Gross expense ratio | 0.62% |
| Fee waiver | — |
| Net expense ratio | 0.62% |
| 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 |
PDP Costs Over Time
On $10,000 invested in PDP, assuming 5% a year before costs, total costs come to $401 over 5 years, cutting the return by 0.67% 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 0.62%) | $65 | $204 | $355 |
| Trading costs (broker commissions) | $2 | $5 | $10 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $220 | $401 |
| Value after costs | $10,433 | $11,357 | $12,362 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
PDP 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): 0.0166%
- Total broker commissions: $235K
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 154%
- Securities on loan, average value: $63.7M
- Net income from securities lending: $105K (0.007% of average net assets)
PDP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $162K | 69.02% |
| MACQUARIE CAPITAL (USA) INC. | $44K | 18.75% |
| JEFFERIES LLC | $29K | 12.14% |
| UBS SECURITIES LLC | $59 | 0.02% |
| WELLS FARGO SECURITIES, LLC | $42 | 0.02% |
| MORGAN STANLEY & CO. LLC | $30 | 0.01% |
| GOLDMAN, SACHS & CO. | $28 | 0.01% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $28 | 0.01% |
| BARCLAYS CAPITAL INC. | $11 | 0.00% |
| KEYBANC CAPITAL MARKETS INC. | $4 | 0.00% |
PDP Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $1.5B | 64.00% |
| MACQUARIE CAPITAL (USA) INC. | $594.3M | 24.97% |
| CITADEL SECURITIES LLC | $51.8M | 2.18% |
| RBC CAPITAL MARKETS, LLC | $47.3M | 1.99% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $43.6M | 1.83% |
| VIRTU AMERICAS LLC | $36.8M | 1.55% |
| BNY MELLON CAPITAL MARKETS, LLC | $34.9M | 1.47% |
| JANE STREET CAPITAL, LLC | $27.8M | 1.17% |
| GOLDMAN, SACHS & CO. | $12.4M | 0.52% |
| BNP PARIBAS SECURITIES CORP. | $8.0M | 0.33% |
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.