PSMC Fees and Costs — Invesco Conservative Multi-Asset Allocation ETF
Data updated: 2023-06-28
The net expense ratio is 0.37%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $2K in broker commissions, 0.0153% of average net assets, and portfolio turnover was 26%.
PSMC Fees and Expenses
Annual operating expenses and sales charges of PSMC. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.37% |
| Fee waiver | — |
| Net expense ratio | 0.37% |
| 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 |
PSMC Costs Over Time
On $10,000 invested in PSMC, assuming 5% a year before costs, total costs come to $244 over 5 years, cutting the return by 0.40% 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 0.37%) | $39 | $122 | $213 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $40 | $133 | $244 |
| Value after costs | $10,460 | $11,443 | $12,519 |
| Impact on return, per year | 0.40% | 0.40% | 0.40% |
PSMC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0153%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $14.5M
- Portfolio turnover (prospectus): 26%
- Securities on loan, average value: $1.7M
- Net income from securities lending: $49K (0.340% of average net assets)
PSMC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $1K | 46.57% |
| CITIGROUP GLOBAL MARKETS INC. | $786 | 35.45% |
| INVESCO CAPITAL MARKETS, INC. | $229 | 10.34% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $116 | 5.22% |
| GOLDMAN, SACHS & CO. | $54 | 2.43% |
PSMC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $6.6M | 45.20% |
| CITADEL SECURITIES LLC | $4.3M | 29.63% |
| VIRTU AMERICAS LLC | $2.6M | 17.69% |
| BNY MELLON CAPITAL MARKETS, LLC | $581K | 4.00% |
| GOLDMAN, SACHS & CO. | $505K | 3.48% |
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.