PFI Fees and Costs — Invesco Dorsey Wright Financial Momentum ETF
Data updated: 2026-09-28
The net expense ratio is 0.60%: a 0.50% management fee plus 0.28% other expenses, less a 0.18% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $28K in broker commissions, 0.0490% of average net assets, and portfolio turnover was 153%.
PFI Fees and Expenses
Annual operating expenses and sales charges of PFI. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.28% |
| Gross expense ratio | 0.78% |
| Fee waiver | −0.18% |
| 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 |
PFI Costs Over Time
On $10,000 invested in PFI, assuming 5% a year before costs, total costs come to $409 over 5 years, cutting the return by 0.68% 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) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $11 | $37 |
| Total costs | $68 | $224 | $409 |
| Value after costs | $10,432 | $11,352 | $12,354 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
PFI 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): 0.0490%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): $93.7M
- Portfolio turnover (prospectus): 153%
- Securities on loan, average value: $5.5M
- Net income from securities lending: $10K (0.018% of average net assets)
PFI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $19K | 67.32% |
| MACQUARIE CAPITAL (USA) INC. | $9K | 30.81% |
| JEFFERIES LLC | $253 | 0.90% |
| CITIC SECURITIES INTERNATIONAL USA, LLC | $222 | 0.79% |
| UBS SECURITIES LLC | $12 | 0.04% |
| BARCLAYS CAPITAL INC. | $9 | 0.03% |
| EVERCORE GROUP L.L.C. | $8 | 0.03% |
| MORGAN STANLEY & CO. LLC | $8 | 0.03% |
| GOLDMAN, SACHS & CO. | $7 | 0.02% |
| WELLS FARGO SECURITIES, LLC | $7 | 0.02% |
PFI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $38.1M | 40.66% |
| JEFFERIES LLC | $23.8M | 25.42% |
| GOLDMAN, SACHS & CO. | $15.1M | 16.10% |
| CITADEL SECURITIES LLC | $7.1M | 7.55% |
| JANE STREET CAPITAL, LLC | $6.7M | 7.14% |
| BNY MELLON CAPITAL MARKETS, LLC | $2.4M | 2.57% |
| MORGAN STANLEY & CO. LLC | $520K | 0.55% |
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.