PGX Fees and Costs — Invesco Preferred ETF
Data updated: 2026-07-29
The net expense ratio is 0.50%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $63K in broker commissions, 0.0015% of average net assets, and portfolio turnover was 8%.
PGX Fees and Expenses
Annual operating expenses and sales charges of PGX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.50% |
| Fee waiver | — |
| Net expense ratio | 0.50% |
| 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 |
PGX Costs Over Time
On $10,000 invested in PGX, assuming 5% a year before costs, total costs come to $317 over 5 years, cutting the return by 0.53% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $53 | $173 | $317 |
| Value after costs | $10,447 | $11,403 | $12,446 |
| Impact on return, per year | 0.53% | 0.53% | 0.53% |
PGX 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): 0.0015%
- Total broker commissions: $63K
- Bought from dealers (principal trades, not a cost): $2.7B
- Portfolio turnover (prospectus): 8%
- Securities on loan, average value: $79.7M
- Net income from securities lending: $3.5M (0.083% of average net assets)
PGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $42K | 66.54% |
| CITIGROUP GLOBAL MARKETS INC. | $11K | 17.52% |
| WELLS FARGO SECURITIES, LLC | $10K | 15.93% |
PGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $586.6M | 22.33% |
| GOLDMAN, SACHS & CO. | $555.6M | 21.15% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $366.7M | 13.96% |
| RBC CAPITAL MARKETS, LLC | $345.8M | 13.16% |
| UBS SECURITIES LLC | $217.0M | 8.26% |
| JANE STREET EXECUTION SERVICES, LLC | $174.4M | 6.64% |
| ABN AMRO CLEARING CHICAGO LLC | $138.8M | 5.28% |
| VIRTU AMERICAS LLC | $124.6M | 4.74% |
| JANE STREET CAPITAL, LLC | $86.3M | 3.28% |
| MORGAN STANLEY & CO. LLC | $31.2M | 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.