PXF Fees and Costs — Invesco RAFI Developed Markets ex-U.S. ETF
Data updated: 2026-09-29
The net expense ratio is 0.43%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $221K in broker commissions, 0.0114% of average net assets, and portfolio turnover was 20%.
PXF Fees and Expenses
Annual operating expenses and sales charges of PXF. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.43% |
| Fee waiver | — |
| Net expense ratio | 0.43% |
| 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 |
PXF Costs Over Time
On $10,000 invested in PXF, assuming 5% a year before costs, total costs come to $279 over 5 years, cutting the return by 0.46% 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 0.43%) | $45 | $142 | $247 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $46 | $153 | $279 |
| Value after costs | $10,454 | $11,424 | $12,484 |
| Impact on return, per year | 0.46% | 0.46% | 0.46% |
PXF Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0114%
- Total broker commissions: $221K
- Bought from dealers (principal trades, not a cost): $439.3M
- Portfolio turnover (prospectus): 20%
- Securities on loan, average value: $151.3M
- Net income from securities lending: $752K (0.039% of average net assets)
PXF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $33K | 15.81% |
| UBS SECURITIES LLC | $33K | 15.58% |
| BTIG, LLC | $31K | 14.53% |
| JEFFERIES LLC | $30K | 13.95% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $28K | 13.32% |
| INVESCO CAPITAL MARKETS, INC. | $24K | 11.12% |
| BARCLAYS CAPITAL INC. | $22K | 10.37% |
| MORGAN STANLEY & CO. LLC | $6K | 2.76% |
| CITIGROUP GLOBAL MARKETS INC. | $3K | 1.48% |
| MACQUARIE CAPITAL (USA) INC. | $2K | 1.08% |
PXF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $165.8M | 37.74% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $140.4M | 31.96% |
| UBS SECURITIES LLC | $101.7M | 23.16% |
| MORGAN STANLEY & CO. LLC | $31.4M | 7.14% |
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.