PYZ Fees and Costs — Invesco Dorsey Wright Basic Materials Momentum ETF
Data updated: 2026-09-28
The net expense ratio is 0.60%: a 0.50% management fee plus 0.29% other expenses, less a 0.19% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $30K in broker commissions, 0.0425% of average net assets, and portfolio turnover was 91%.
PYZ Fees and Expenses
Annual operating expenses and sales charges of PYZ. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.29% |
| Gross expense ratio | 0.79% |
| Fee waiver | −0.19% |
| 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 | Yes |
PYZ Costs Over Time
On $10,000 invested in PYZ, assuming 5% a year before costs, total costs come to $405 over 5 years, cutting the return by 0.67% 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) | $4 | $14 | $24 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $222 | $405 |
| Value after costs | $10,433 | $11,355 | $12,358 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
PYZ 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): 0.0425%
- Total broker commissions: $30K
- Bought from dealers (principal trades, not a cost): $43.2M
- Portfolio turnover (prospectus): 91%
- Securities on loan, average value: $9.2M
- Net income from securities lending: $32K (0.045% of average net assets)
PYZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $24K | 79.12% |
| MORGAN STANLEY & CO. LLC | $6K | 20.69% |
| WELLS FARGO SECURITIES, LLC | $14 | 0.05% |
| MIZUHO SECURITIES USA LLC | $13 | 0.04% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $9 | 0.03% |
| GOLDMAN, SACHS & CO. | $8 | 0.03% |
| UBS SECURITIES LLC | $7 | 0.02% |
| STATE STREET GLOBAL MARKETS, LLC | $3 | 0.01% |
| JEFFERIES LLC | $3 | 0.01% |
| EVERCORE GROUP L.L.C. | $3 | 0.01% |
PYZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $14.4M | 33.25% |
| CITADEL SECURITIES LLC | $11.3M | 26.20% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $7.5M | 17.26% |
| ABN AMRO Clearing USA LLC | $4.7M | 10.91% |
| BNY MELLON CAPITAL MARKETS, LLC | $4.1M | 9.40% |
| VIRTU AMERICAS LLC | $1.3M | 2.98% |
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.