PSMM Fees and Costs — Invesco Moderately Conservative Multi-Asset Allocation ETF
Data updated: 2023-06-28
The net expense ratio is 0.35%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $4K in broker commissions, 0.0179% of average net assets, and portfolio turnover was 33%.
PSMM Fees and Expenses
Annual operating expenses and sales charges of PSMM. Prospectus, as of October 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.35% |
| Fee waiver | — |
| Net expense ratio | 0.35% |
| 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 |
PSMM Costs Over Time
On $10,000 invested in PSMM, assuming 5% a year before costs, total costs come to $233 over 5 years, cutting the return by 0.39% 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 0.35%) | $37 | $115 | $202 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $39 | $127 | $233 |
| Value after costs | $10,461 | $11,449 | $12,530 |
| Impact on return, per year | 0.39% | 0.39% | 0.39% |
PSMM 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): 0.0179%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $71.2M
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $2.4M
- Net income from securities lending: $76K (0.343% of average net assets)
PSMM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $2K | 56.59% |
| CITIGROUP GLOBAL MARKETS INC. | $1K | 33.17% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $233 | 5.90% |
| INVESCO CAPITAL MARKETS, INC. | $92 | 2.32% |
| GOLDMAN, SACHS & CO. | $80 | 2.03% |
PSMM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $37.3M | 52.33% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $23.5M | 32.95% |
| VIRTU AMERICAS LLC | $7.9M | 11.12% |
| GOLDMAN, SACHS & CO. | $2.1M | 2.90% |
| BNY MELLON CAPITAL MARKETS, LLC | $501K | 0.70% |
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.