PSP Fees and Costs — Invesco Global Listed Private Equity ETF
Data updated: 2026-09-28
The net expense ratio is 1.75%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $52K in broker commissions, 0.0177% of average net assets, and portfolio turnover was 27%.
PSP Fees and Expenses
Annual operating expenses and sales charges of PSP. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.16% |
| Gross expense ratio | 1.75% |
| Fee waiver | — |
| Net expense ratio | 1.75% |
| 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 |
PSP Costs Over Time
On $10,000 invested in PSP, assuming 5% a year before costs, total costs come to $1,089 over 5 years, cutting the return by 1.86% 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 1.75%) | $184 | $569 | $978 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $29 | $101 |
| Total costs | $186 | $603 | $1,089 |
| Value after costs | $10,314 | $10,973 | $11,674 |
| Impact on return, per year | 1.86% | 1.86% | 1.86% |
PSP 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): 0.0177%
- Total broker commissions: $52K
- Bought from dealers (principal trades, not a cost): $248.6M
- Portfolio turnover (prospectus): 27%
- Securities on loan, average value: $70.7M
- Net income from securities lending: $797K (0.271% of average net assets)
PSP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $16K | 32.32% |
| BTIG, LLC | $11K | 22.81% |
| MIZUHO SECURITIES USA LLC | $5K | 9.78% |
| BARCLAYS CAPITAL INC. | $5K | 9.71% |
| MORGAN STANLEY & CO. LLC | $5K | 9.42% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3K | 6.34% |
| UBS SECURITIES LLC | $2K | 3.08% |
| ITG INC. | $1K | 2.66% |
| TD Securities (USA) LLC | $1K | 2.01% |
| RBC CAPITAL MARKETS, LLC | $938 | 1.87% |
PSP Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $140.8M | 56.65% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $38.2M | 15.36% |
| BNY MELLON CAPITAL MARKETS, LLC | $36.3M | 14.61% |
| UBS SECURITIES LLC | $17.7M | 7.10% |
| JANE STREET CAPITAL, LLC | $6.5M | 2.60% |
| VIRTU AMERICAS LLC | $6.2M | 2.49% |
| GOLDMAN, SACHS & CO. | $2.9M | 1.19% |
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.