SPHD Fees and Costs — Invesco S&P 500 High Dividend Low Volatility ETF
Data updated: 2026-07-30
The net expense ratio is 0.30%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $604K in broker commissions, 0.0176% of average net assets, and portfolio turnover was 49%.
SPHD Fees and Expenses
Annual operating expenses and sales charges of SPHD. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.30% |
| Fee waiver | — |
| Net expense ratio | 0.30% |
| 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 |
SPHD Costs Over Time
On $10,000 invested in SPHD, assuming 5% a year before costs, total costs come to $201 over 5 years, cutting the return by 0.33% 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 0.30%) | $32 | $99 | $173 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $33 | $110 | $201 |
| Value after costs | $10,467 | $11,466 | $12,561 |
| Impact on return, per year | 0.33% | 0.33% | 0.33% |
SPHD 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): 0.0176%
- Total broker commissions: $604K
- Bought from dealers (principal trades, not a cost): $3.5B
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $113.5M
- Net income from securities lending: $145K (0.004% of average net assets)
SPHD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $247K | 40.85% |
| MORGAN STANLEY & CO. LLC | $192K | 31.85% |
| INVESCO CAPITAL MARKETS, INC. | $164K | 27.21% |
| WELLS FARGO SECURITIES, LLC | $261 | 0.04% |
| CITIGROUP GLOBAL MARKETS INC. | $93 | 0.02% |
| WILLIAMS CAPITAL GROUP, L.P. (THE) | $75 | 0.01% |
| STATE STREET GLOBAL MARKETS, LLC | $32 | 0.01% |
| JEFFERIES LLC | $25 | 0.00% |
| KEYBANC CAPITAL MARKETS INC. | $22 | 0.00% |
| ROBERTS & RYAN INVESTMENTS INC. | $22 | 0.00% |
SPHD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $2.1B | 59.83% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $553.0M | 15.91% |
| BNY MELLON CAPITAL MARKETS, LLC | $236.7M | 6.81% |
| CITADEL SECURITIES LLC | $144.0M | 4.14% |
| JANE STREET CAPITAL, LLC | $128.2M | 3.69% |
| MORGAN STANLEY & CO. LLC | $114.1M | 3.28% |
| VIRTU AMERICAS LLC | $71.8M | 2.07% |
| BNP PARIBAS SECURITIES CORP. | $57.4M | 1.65% |
| RBC CAPITAL MARKETS, LLC | $49.1M | 1.41% |
| ABN AMRO CLEARING CHICAGO LLC | $42.0M | 1.21% |
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.