PKW Fees and Costs — Invesco BuyBack AchieversTM ETF
Data updated: 2026-09-29
The net expense ratio is 0.63%: a 0.50% management fee plus 0.12% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $318K in broker commissions, 0.0213% of average net assets, and portfolio turnover was 95%.
PKW Fees and Expenses
Annual operating expenses and sales charges of PKW. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.12% |
| Gross expense ratio | 0.63% |
| Fee waiver | — |
| Net expense ratio | 0.63% |
| 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 |
PKW Costs Over Time
On $10,000 invested in PKW, assuming 5% a year before costs, total costs come to $410 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 0.63%) | $66 | $207 | $361 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $11 | $37 |
| Total costs | $68 | $225 | $410 |
| Value after costs | $10,432 | $11,352 | $12,353 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
PKW 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): 0.0213%
- Total broker commissions: $318K
- Bought from dealers (principal trades, not a cost): $2.2B
- Portfolio turnover (prospectus): 95%
- Securities on loan, average value: $82.0M
- Net income from securities lending: $154K (0.010% of average net assets)
PKW Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MACQUARIE CAPITAL (USA) INC. | $120K | 37.67% |
| INVESCO CAPITAL MARKETS, INC. | $103K | 32.40% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $95K | 29.75% |
| MIZUHO SECURITIES USA LLC | $222 | 0.07% |
| JEFFERIES LLC | $165 | 0.05% |
| GOLDMAN, SACHS & CO. | $50 | 0.02% |
| MORGAN STANLEY & CO. LLC | $49 | 0.02% |
| UBS SECURITIES LLC | $39 | 0.01% |
| WELLS FARGO SECURITIES, LLC | $39 | 0.01% |
| CITADEL SECURITIES LLC | $24 | 0.01% |
PKW Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $1.0B | 45.54% |
| MACQUARIE CAPITAL (USA) INC. | $1.0B | 44.93% |
| BNY MELLON CAPITAL MARKETS, LLC | $58.2M | 2.62% |
| CITADEL SECURITIES LLC | $43.8M | 1.97% |
| VIRTU AMERICAS LLC | $43.4M | 1.95% |
| JANE STREET CAPITAL, LLC | $34.9M | 1.57% |
| GOLDMAN, SACHS & CO. | $15.1M | 0.68% |
| BNP PARIBAS SECURITIES CORP. | $12.9M | 0.58% |
| ABN AMRO Clearing USA LLC | $2.6M | 0.12% |
| UBS SECURITIES LLC | $1.3M | 0.06% |
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.