SPMV Fees and Costs — Invesco S&P 500 Minimum Variance ETF
Data updated: 2026-01-28
The net expense ratio is 0.10%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0243% of average net assets, and portfolio turnover was 55%.
SPMV Fees and Expenses
Annual operating expenses and sales charges of SPMV. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.10% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.10% |
| Fee waiver | — |
| Net expense ratio | 0.10% |
| 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 |
SPMV Costs Over Time
On $10,000 invested in SPMV, assuming 5% a year before costs, total costs come to $79 over 5 years, cutting the return by 0.13% 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 0.10%) | $10 | $33 | $58 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $2 | $7 |
| Total costs | $13 | $43 | $79 |
| Value after costs | $10,487 | $11,533 | $12,684 |
| Impact on return, per year | 0.13% | 0.13% | 0.13% |
SPMV 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): 0.0243%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $6.4M
- Portfolio turnover (prospectus): 55%
- Securities on loan, average value: $256K
- Net income from securities lending: $355 (0.007% of average net assets)
SPMV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $1K | 97.56% |
| WELLS FARGO SECURITIES, LLC | $6 | 0.56% |
| EVERCORE GROUP L.L.C. | $6 | 0.51% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $4 | 0.35% |
| BTIG, LLC | $3 | 0.29% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $3 | 0.22% |
| STATE STREET GLOBAL MARKETS, LLC | $2 | 0.16% |
| CITIGROUP GLOBAL MARKETS INC. | $2 | 0.14% |
| MORGAN STANLEY & CO. LLC | $2 | 0.13% |
| KEYBANC CAPITAL MARKETS INC. | $1 | 0.10% |
SPMV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $2.0M | 31.69% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $1.9M | 29.82% |
| VIRTU AMERICAS LLC | $1.9M | 29.70% |
| BNY MELLON CAPITAL MARKETS, LLC | $559K | 8.74% |
| WELLS FARGO SECURITIES, LLC | $3K | 0.05% |
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.