PMR Fees and Costs — Invesco Dynamic Retail ETF
Data updated: 2020-03-31
The net expense ratio is 0.63%: a 0.50% management fee plus 0.74% other expenses, less a 0.61% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $7K in broker commissions, 0.0745% of average net assets, and portfolio turnover was 148%.
PMR Fees and Expenses
Annual operating expenses and sales charges of PMR. Prospectus, as of August 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.74% |
| Gross expense ratio | 1.24% |
| Fee waiver | −0.61% |
| 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 |
PMR Costs Over Time
On $10,000 invested in PMR, assuming 5% a year before costs, total costs come to $443 over 5 years, cutting the return by 0.74% 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 | $360 |
| Trading costs (broker commissions) | $8 | $24 | $43 |
| Lost growth on money paid in costs | $0 | $11 | $41 |
| Total costs | $74 | $243 | $443 |
| Value after costs | $10,426 | $11,333 | $12,320 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
PMR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0745%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $23.5M
- Portfolio turnover (prospectus): 148%
- Securities on loan, average value: $271K
- Net income from securities lending: $7K (0.071% of average net assets)
PMR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $4K | 48.43% |
| CREDIT SUISSE SECURITIES (USA) LLC | $3K | 37.59% |
| VIRTU AMERICAS LLC | $982 | 13.39% |
| ITG INC. | $34 | 0.46% |
| COWEN AND COMPANY | $6 | 0.08% |
| GOLDMAN, SACHS & CO. | $2 | 0.03% |
| BARCLAYS CAPITAL INC. | $2 | 0.02% |
PMR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $14.9M | 63.49% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3.8M | 16.18% |
| CITADEL SECURITIES LLC | $3.5M | 15.11% |
| BNY MELLON CAPITAL MARKETS, LLC | $1.2M | 5.22% |
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.