PHDG Fees and Costs — Invesco S&P 500 Downside Hedged ETF
Data updated: 2026-09-29
The net expense ratio is 0.39% (0.44% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $129K in broker commissions, 0.1321% of average net assets, and portfolio turnover was 929%.
PHDG Fees and Expenses
Annual operating expenses and sales charges of PHDG. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.39% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.44% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.39% |
| 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 |
PHDG Costs Over Time
On $10,000 invested in PHDG, assuming 5% a year before costs, total costs come to $330 over 5 years, cutting the return by 0.55% 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 0.39%) | $41 | $128 | $224 |
| Trading costs (broker commissions) | $14 | $43 | $76 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $55 | $180 | $330 |
| Value after costs | $10,445 | $11,396 | $12,433 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
PHDG Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1321%
- Total broker commissions: $129K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 929%
- Securities on loan, average value: $1.4M
- Net income from securities lending: $3K (0.003% of average net assets)
PHDG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $54K | 42.12% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $50K | 38.69% |
| GOLDMAN, SACHS & CO. | $20K | 15.68% |
| MORGAN STANLEY & CO. LLC | $2K | 1.75% |
| CITIGROUP GLOBAL MARKETS INC. | $2K | 1.73% |
| BARCLAYS CAPITAL INC. | $7 | 0.01% |
| VIRTU AMERICAS LLC | $6 | 0.00% |
| CITADEL SECURITIES LLC | $6 | 0.00% |
| WELLS FARGO SECURITIES, LLC | $4 | 0.00% |
| TD Securities (USA) LLC | $3 | 0.00% |
PHDG Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $1.5B | 100.00% |
| WELLS FARGO SECURITIES, LLC | $19K | 0.00% |
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.