RWL Fees and Costs — Invesco S&P 500 Revenue ETF
Data updated: 2026-07-28
The net expense ratio is 0.39%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $230K in broker commissions, 0.0046% of average net assets, and portfolio turnover was 20%.
RWL Fees and Expenses
Annual operating expenses and sales charges of RWL. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.39% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.39% |
| Fee waiver | — |
| Net expense ratio | 0.39% |
| 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 |
RWL Costs Over Time
On $10,000 invested in RWL, assuming 5% a year before costs, total costs come to $250 over 5 years, cutting the return by 0.41% 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 0.39%) | $41 | $129 | $224 |
| Trading costs (broker commissions) | $0 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $41 | $136 | $250 |
| Value after costs | $10,459 | $11,440 | $12,513 |
| Impact on return, per year | 0.41% | 0.41% | 0.41% |
RWL 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): 0.0046%
- Total broker commissions: $230K
- Bought from dealers (principal trades, not a cost): $3.2B
- Portfolio turnover (prospectus): 20%
- Securities on loan, average value: $103.7M
- Net income from securities lending: $1.4M (0.029% of average net assets)
RWL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $100K | 46.29% |
| INVESCO CAPITAL MARKETS, INC. | $60K | 27.96% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $16K | 7.29% |
| BTIG, LLC | $9K | 4.06% |
| CITADEL SECURITIES LLC | $7K | 3.10% |
| LOOP CAPITAL MARKETS LLC | $6K | 2.82% |
| WELLS FARGO SECURITIES, LLC | $5K | 2.30% |
| JEFFERIES LLC | $5K | 2.30% |
| UBS SECURITIES LLC | $4K | 2.03% |
| STUART FRANKEL & CO., INC. | $4K | 1.85% |
RWL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $921.5M | 28.61% |
| RBC CAPITAL MARKETS, LLC | $489.6M | 15.20% |
| JANE STREET CAPITAL, LLC | $424.0M | 13.16% |
| CITIGROUP GLOBAL MARKETS INC. | $396.7M | 12.32% |
| CITADEL SECURITIES LLC | $369.0M | 11.46% |
| VIRTU AMERICAS LLC | $239.8M | 7.44% |
| BNY MELLON CAPITAL MARKETS, LLC | $198.2M | 6.15% |
| GOLDMAN, SACHS & CO. | $102.5M | 3.18% |
| MORGAN STANLEY & CO. LLC | $76.7M | 2.38% |
| UBS SECURITIES LLC | $2.6M | 0.08% |
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.