SPVM Fees and Costs — Invesco S&P 500 Value with Momentum ETF
Data updated: 2026-09-28
The net expense ratio is 0.39%: a 0.29% management fee plus 0.15% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $15K in broker commissions, 0.0180% of average net assets, and portfolio turnover was 58%.
SPVM Fees and Expenses
Annual operating expenses and sales charges of SPVM. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | — |
| Other expenses | 0.15% |
| Gross expense ratio | 0.44% |
| Fee waiver | −0.05% |
| 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 | Yes |
SPVM Costs Over Time
On $10,000 invested in SPVM, assuming 5% a year before costs, total costs come to $258 over 5 years, cutting the return by 0.43% 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) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $43 | $141 | $258 |
| Value after costs | $10,457 | $11,435 | $12,505 |
| Impact on return, per year | 0.43% | 0.43% | 0.43% |
SPVM 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): 0.0180%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $113.6M
- Portfolio turnover (prospectus): 58%
- Securities on loan, average value: $3.0M
- Net income from securities lending: $131K (0.157% of average net assets)
SPVM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $9K | 60.50% |
| CITIGROUP GLOBAL MARKETS INC. | $4K | 25.51% |
| MORGAN STANLEY & CO. LLC | $897 | 6.01% |
| VIRTU AMERICAS LLC | $472 | 3.16% |
| WELLS FARGO SECURITIES, LLC | $310 | 2.07% |
| BNP PARIBAS SECURITIES CORP. | $249 | 1.67% |
| GOLDMAN, SACHS & CO. | $78 | 0.52% |
| TD Securities (USA) LLC | $39 | 0.26% |
| MIZUHO SECURITIES USA LLC | $28 | 0.19% |
| UBS SECURITIES LLC | $17 | 0.11% |
SPVM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $30.5M | 26.83% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $27.9M | 24.54% |
| GOLDMAN, SACHS & CO. | $20.4M | 17.98% |
| VIRTU AMERICAS LLC | $14.8M | 13.02% |
| JANE STREET CAPITAL, LLC | $14.6M | 12.87% |
| BNY MELLON CAPITAL MARKETS, LLC | $5.2M | 4.54% |
| WELLS FARGO SECURITIES, LLC | $237K | 0.21% |
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.