PEZ Fees and Costs — Invesco Dorsey Wright Consumer Cyclicals Momentum ETF
Data updated: 2026-09-28
The net expense ratio is 0.60%: a 0.50% management fee plus 0.47% other expenses, less a 0.37% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $16K in broker commissions, 0.0533% of average net assets, and portfolio turnover was 187%.
PEZ Fees and Expenses
Annual operating expenses and sales charges of PEZ. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.47% |
| Gross expense ratio | 0.97% |
| Fee waiver | −0.37% |
| Net expense ratio | 0.60% |
| 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 |
PEZ Costs Over Time
On $10,000 invested in PEZ, assuming 5% a year before costs, total costs come to $411 over 5 years, cutting the return by 0.69% 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 0.60%) | $63 | $197 | $343 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $225 | $411 |
| Value after costs | $10,431 | $11,351 | $12,351 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
PEZ 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): 0.0533%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): $83.4M
- Portfolio turnover (prospectus): 187%
- Securities on loan, average value: $5.3M
- Net income from securities lending: $31K (0.103% of average net assets)
PEZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $15K | 91.35% |
| RBC CAPITAL MARKETS, LLC | $1K | 6.86% |
| MORGAN STANLEY & CO. LLC | $199 | 1.23% |
| CITIGROUP GLOBAL MARKETS INC. | $62 | 0.38% |
| UBS SECURITIES LLC | $10 | 0.06% |
| WELLS FARGO SECURITIES, LLC | $8 | 0.05% |
| GOLDMAN, SACHS & CO. | $5 | 0.03% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $4 | 0.03% |
| RAYMOND JAMES & ASSOCIATES, INC. | $1 | 0.01% |
| STATE STREET GLOBAL MARKETS, LLC | $1 | 0.00% |
PEZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $44.1M | 52.81% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $23.0M | 27.59% |
| CITADEL SECURITIES LLC | $10.3M | 12.35% |
| JANE STREET CAPITAL, LLC | $3.9M | 4.69% |
| BNY MELLON CAPITAL MARKETS, LLC | $1.1M | 1.36% |
| GOLDMAN, SACHS & CO. | $992K | 1.19% |
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.