PWB Fees and Costs — Invesco Large Cap Growth 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 $109K in broker commissions, 0.0077% of average net assets, and portfolio turnover was 97%.
PWB Fees and Expenses
Annual operating expenses and sales charges of PWB. 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 |
PWB Costs Over Time
On $10,000 invested in PWB, assuming 5% a year before costs, total costs come to $352 over 5 years, cutting the return by 0.59% 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) | $1 | $3 | $4 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $193 | $352 |
| Value after costs | $10,441 | $11,384 | $12,411 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
PWB 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): 0.0077%
- Total broker commissions: $109K
- Bought from dealers (principal trades, not a cost): $2.8B
- Portfolio turnover (prospectus): 97%
- Securities on loan, average value: $17.8M
- Net income from securities lending: $47K (0.003% of average net assets)
PWB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $82K | 75.62% |
| CITIC SECURITIES INTERNATIONAL USA, LLC | $16K | 14.76% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $10K | 9.56% |
| WELLS FARGO SECURITIES, LLC | $12 | 0.01% |
| SANFORD C. BERNSTEIN & CO., LLC | $12 | 0.01% |
| GOLDMAN, SACHS & CO. | $11 | 0.01% |
| MORGAN STANLEY & CO. LLC | $9 | 0.01% |
| BARCLAYS CAPITAL INC. | $7 | 0.01% |
| CITIGROUP GLOBAL MARKETS INC. | $7 | 0.01% |
| EVERCORE GROUP L.L.C. | $6 | 0.01% |
PWB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $1.8B | 65.36% |
| RBC CAPITAL MARKETS, LLC | $514.4M | 18.48% |
| JANE STREET CAPITAL, LLC | $142.3M | 5.11% |
| VIRTU AMERICAS LLC | $119.0M | 4.27% |
| CITADEL SECURITIES LLC | $111.9M | 4.02% |
| GOLDMAN, SACHS & CO. | $41.1M | 1.48% |
| BNY MELLON CAPITAL MARKETS, LLC | $18.3M | 0.66% |
| MORGAN STANLEY & CO. LLC | $9.0M | 0.32% |
| BNP PARIBAS SECURITIES CORP. | $7.1M | 0.26% |
| ABN AMRO Clearing USA LLC | $1.0M | 0.04% |
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.