PRF Fees and Costs — Invesco RAFI US 1000 ETF
Data updated: 2026-09-29
The net expense ratio is 0.34%: a 0.29% management fee plus 0.05% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $295K in broker commissions, 0.0035% of average net assets, and portfolio turnover was 13%.
PRF Fees and Expenses
Annual operating expenses and sales charges of PRF. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | — |
| Other expenses | 0.05% |
| Gross expense ratio | 0.34% |
| Fee waiver | — |
| Net expense ratio | 0.34% |
| 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 |
PRF Costs Over Time
On $10,000 invested in PRF, assuming 5% a year before costs, total costs come to $218 over 5 years, cutting the return by 0.36% 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 0.34%) | $36 | $112 | $196 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $36 | $119 | $218 |
| Value after costs | $10,464 | $11,457 | $12,545 |
| Impact on return, per year | 0.36% | 0.36% | 0.36% |
PRF 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): 0.0035%
- Total broker commissions: $295K
- Bought from dealers (principal trades, not a cost): $3.7B
- Portfolio turnover (prospectus): 13%
- Securities on loan, average value: $246.1M
- Net income from securities lending: $2.0M (0.024% of average net assets)
PRF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $111K | 39.79% |
| CITIC SECURITIES INTERNATIONAL USA, LLC | $75K | 26.91% |
| CITIGROUP GLOBAL MARKETS INC. | $52K | 18.59% |
| MIZUHO SECURITIES USA LLC | $9K | 3.24% |
| MORGAN STANLEY & CO. LLC | $8K | 2.82% |
| VIRTU AMERICAS LLC | $6K | 2.19% |
| JEFFERIES LLC | $6K | 2.09% |
| BARCLAYS CAPITAL INC. | $5K | 1.72% |
| LOOP CAPITAL MARKETS LLC | $4K | 1.50% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3K | 1.16% |
PRF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $1.2B | 32.53% |
| CITADEL SECURITIES LLC | $851.7M | 22.99% |
| CITIGROUP GLOBAL MARKETS INC. | $553.5M | 14.94% |
| BNY MELLON CAPITAL MARKETS, LLC | $446.5M | 12.05% |
| JANE STREET CAPITAL, LLC | $225.5M | 6.09% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $224.2M | 6.05% |
| VIRTU AMERICAS LLC | $90.1M | 2.43% |
| GOLDMAN, SACHS & CO. | $75.0M | 2.02% |
| ABN AMRO Clearing USA LLC | $19.1M | 0.52% |
| BARCLAYS CAPITAL INC. | $14.2M | 0.38% |
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.