SPHQ Fees and Costs — Invesco S&P 500 Quality ETF
Data updated: 2026-09-28
The net expense ratio is 0.15%: a 0.15% management fee plus 0.05% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $648K in broker commissions, 0.0042% of average net assets, and portfolio turnover was 38%.
SPHQ Fees and Expenses
Annual operating expenses and sales charges of SPHQ. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | — |
| Other expenses | 0.05% |
| Gross expense ratio | 0.20% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.15% |
| 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 |
SPHQ Costs Over Time
On $10,000 invested in SPHQ, assuming 5% a year before costs, total costs come to $98 over 5 years, cutting the return by 0.16% 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 0.15%) | $16 | $50 | $87 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $3 | $9 |
| Total costs | $16 | $53 | $98 |
| Value after costs | $10,484 | $11,523 | $12,665 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
SPHQ 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): 0.0042%
- Total broker commissions: $648K
- Bought from dealers (principal trades, not a cost): $13.2B
- Portfolio turnover (prospectus): 38%
- Securities on loan, average value: $88.7M
- Net income from securities lending: $153K (0.001% of average net assets)
SPHQ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $285K | 43.99% |
| CITIGROUP GLOBAL MARKETS INC. | $166K | 25.60% |
| INVESCO CAPITAL MARKETS, INC. | $121K | 18.72% |
| MORGAN STANLEY & CO. LLC | $60K | 9.23% |
| WELLS FARGO SECURITIES, LLC | $6K | 0.92% |
| VIRTU AMERICAS LLC | $4K | 0.65% |
| BARCLAYS CAPITAL INC. | $4K | 0.63% |
| BNP PARIBAS SECURITIES CORP. | $1K | 0.22% |
| UBS SECURITIES LLC | $92 | 0.01% |
| JEFFERIES LLC | $70 | 0.01% |
SPHQ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $8.6B | 65.54% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $1.2B | 9.01% |
| CITADEL SECURITIES LLC | $955.5M | 7.26% |
| JANE STREET CAPITAL, LLC | $734.1M | 5.58% |
| BNY MELLON CAPITAL MARKETS, LLC | $585.2M | 4.45% |
| MORGAN STANLEY & CO. LLC | $363.0M | 2.76% |
| VIRTU AMERICAS LLC | $318.3M | 2.42% |
| RBC CAPITAL MARKETS, LLC | $199.3M | 1.51% |
| BNP PARIBAS SECURITIES CORP. | $169.1M | 1.28% |
| ABN AMRO Clearing USA LLC | $25.1M | 0.19% |
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.