SMEIX Fees and Costs — Invesco Small Cap Equity Fund, Class R5
Data updated: 2026-08-25
The net expense ratio is 0.89%: a 0.73% management fee plus 0.15% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $637K in broker commissions, 0.0634% of average net assets, and portfolio turnover was 42%.
SMEIX Fees and Expenses
Annual operating expenses and sales charges of SMEIX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.73% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.15% |
| Gross expense ratio | 0.89% |
| Fee waiver | — |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
SMEIX Costs Over Time
On $10,000 invested in SMEIX, assuming 5% a year before costs, total costs come to $597 over 5 years, cutting the return by 1.00% 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 0.89%) | $93 | $292 | $506 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $15 | $55 |
| Total costs | $100 | $328 | $597 |
| Value after costs | $10,400 | $11,248 | $12,166 |
| Impact on return, per year | 1.00% | 1.00% | 1.00% |
SMEIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0634%
- Total broker commissions: $637K
- Bought from dealers (principal trades, not a cost): $25.0M
- Portfolio turnover (prospectus): 42%
- Securities on loan, average value: $128.9M
- Net income from securities lending: $323K (0.032% of average net assets)
SMEIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $93K | 16.29% |
| GOLDMAN, SACHS & CO. | $88K | 15.37% |
| UBS SECURITIES LLC | $85K | 14.96% |
| CITIGROUP GLOBAL MARKETS INC. | $69K | 12.03% |
| J.P. MORGAN SECURITIES LLC | $67K | 11.66% |
| MORGAN STANLEY & CO. LLC | $61K | 10.65% |
| INVESCO CAPITAL MARKETS, INC. | $34K | 6.02% |
| LIQUIDNET, INC. | $26K | 4.61% |
| Level Markets, LLC. | $25K | 4.35% |
| RBC CAPITAL MARKETS, LLC | $23K | 4.04% |
SMEIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $9.1M | 36.52% |
| CITIGROUP GLOBAL MARKETS INC. | $7.7M | 30.69% |
| PERSHING LLC | $2.4M | 9.49% |
| J.P. MORGAN SECURITIES LLC | $2.3M | 9.28% |
| Piper Sandler & Co. | $2.2M | 8.79% |
| GOLDMAN, SACHS & CO. | $1.3M | 5.22% |
Invesco Small Cap Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SMEFX | Class R6 | 0.82% | none |
| SMEIX | Class R5 | 0.89% | none |
| SMEYX | Class Y | 0.97% | none |
| SMEAX | Class A | 1.22% | 5.50% |
| SMERX | Class R | 1.47% | none |
| SMECX | Class C | 1.97% | none |
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.