PSI Fees and Costs — Invesco Semiconductors ETF
Data updated: 2026-09-29
The net expense ratio is 0.55%: a 0.50% management fee plus 0.05% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $323K in broker commissions, 0.0315% of average net assets, and portfolio turnover was 105%.
PSI Fees and Expenses
Annual operating expenses and sales charges of PSI. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.05% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| 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 |
PSI Costs Over Time
On $10,000 invested in PSI, assuming 5% a year before costs, total costs come to $367 over 5 years, cutting the return by 0.61% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $9 | $33 |
| Total costs | $61 | $201 | $367 |
| Value after costs | $10,439 | $11,375 | $12,396 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
PSI 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): 0.0315%
- Total broker commissions: $323K
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 105%
- Securities on loan, average value: $67.5M
- Net income from securities lending: $410K (0.040% of average net assets)
PSI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $99K | 30.51% |
| BARCLAYS CAPITAL INC. | $93K | 28.73% |
| MORGAN STANLEY & CO. LLC | $75K | 23.35% |
| INVESCO CAPITAL MARKETS, INC. | $44K | 13.54% |
| TD Securities (USA) LLC | $12K | 3.85% |
| UBS SECURITIES LLC | $16 | 0.01% |
| WELLS FARGO SECURITIES, LLC | $5 | 0.00% |
| GOLDMAN, SACHS & CO. | $5 | 0.00% |
| EVERCORE GROUP L.L.C. | $5 | 0.00% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $4 | 0.00% |
PSI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL INC. | $971.0M | 42.36% |
| RBC CAPITAL MARKETS, LLC | $638.4M | 27.85% |
| GOLDMAN, SACHS & CO. | $166.9M | 7.28% |
| CITADEL SECURITIES LLC | $136.1M | 5.94% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $116.4M | 5.08% |
| JANE STREET CAPITAL, LLC | $105.6M | 4.61% |
| MORGAN STANLEY & CO. LLC | $91.7M | 4.00% |
| BNP PARIBAS SECURITIES CORP. | $29.1M | 1.27% |
| VIRTU AMERICAS LLC | $23.5M | 1.03% |
| BNY MELLON CAPITAL MARKETS, LLC | $13.6M | 0.59% |
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.