PWO Fees and Costs — Invesco DWA NASDAQ Momentum ETF
Data updated: 2020-03-31
The net expense ratio is 0.60%: a 0.50% management fee plus 0.27% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $40K in broker commissions, 0.0761% of average net assets, and portfolio turnover was 156%.
PWO Fees and Expenses
Annual operating expenses and sales charges of PWO. Prospectus, as of August 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.27% |
| Gross expense ratio | 0.77% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.60% |
| 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 |
PWO Costs Over Time
On $10,000 invested in PWO, assuming 5% a year before costs, total costs come to $426 over 5 years, cutting the return by 0.71% 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 0.60%) | $63 | $197 | $343 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $71 | $233 | $426 |
| Value after costs | $10,429 | $11,343 | $12,337 |
| Impact on return, per year | 0.71% | 0.71% | 0.71% |
PWO Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0761%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): $121.5M
- Portfolio turnover (prospectus): 156%
- Securities on loan, average value: $556K
- Net income from securities lending: $11K (0.022% of average net assets)
PWO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $16K | 40.33% |
| GOLDMAN, SACHS & CO. | $10K | 25.19% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $7K | 18.39% |
| BB&T SECURITIES, LLC | $6K | 16.01% |
| ITG INC. | $32 | 0.08% |
| INSTINET, LLC | $0 | 0.00% |
PWO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $59.4M | 48.91% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $53.4M | 43.95% |
| CITADEL SECURITIES LLC | $4.8M | 3.99% |
| BNY MELLON CAPITAL MARKETS, LLC | $3.7M | 3.01% |
| GOLDMAN, SACHS & CO. | $184K | 0.15% |
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.