QVML Fees and Costs — Invesco S&P 500 QVM Multi-factor ETF
Data updated: 2026-07-28
The net expense ratio is 0.11%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $26K in broker commissions, 0.0022% of average net assets, and portfolio turnover was 17%.
QVML Fees and Expenses
Annual operating expenses and sales charges of QVML. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.11% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.11% |
| Fee waiver | — |
| Net expense ratio | 0.11% |
| 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 |
QVML Costs Over Time
On $10,000 invested in QVML, assuming 5% a year before costs, total costs come to $71 over 5 years, cutting the return by 0.12% 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 0.11%) | $12 | $36 | $64 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $2 | $6 |
| Total costs | $12 | $39 | $71 |
| Value after costs | $10,488 | $11,537 | $12,691 |
| Impact on return, per year | 0.12% | 0.12% | 0.12% |
QVML Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0022%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): $734.6M
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $20.0M
- Net income from securities lending: $57K (0.005% of average net assets)
QVML Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $16K | 62.43% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $3K | 11.74% |
| CITIGROUP GLOBAL MARKETS INC. | $2K | 7.60% |
| UBS SECURITIES LLC | $1K | 4.28% |
| JEFFERIES LLC | $701 | 2.82% |
| MIZUHO SECURITIES USA LLC | $662 | 2.67% |
| BARCLAYS CAPITAL INC. | $615 | 2.48% |
| BTIG, LLC | $531 | 2.14% |
| CITADEL SECURITIES LLC | $498 | 2.00% |
| WELLS FARGO SECURITIES, LLC | $460 | 1.85% |
QVML Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $509.7M | 69.38% |
| JANE STREET CAPITAL, LLC | $151.7M | 20.66% |
| BNY MELLON CAPITAL MARKETS, LLC | $35.2M | 4.79% |
| VIRTU AMERICAS LLC | $30.5M | 4.15% |
| CITADEL SECURITIES LLC | $6.7M | 0.91% |
| WELLS FARGO SECURITIES, LLC | $774K | 0.11% |
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.