TAN Fees and Costs — Invesco Solar ETF
Data updated: 2026-07-29
The net expense ratio is 0.70%: a 0.50% management fee plus 0.20% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $318K in broker commissions, 0.0406% of average net assets, and portfolio turnover was 41%.
TAN Fees and Expenses
Annual operating expenses and sales charges of TAN. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.20% |
| Gross expense ratio | 0.70% |
| Fee waiver | — |
| Net expense ratio | 0.70% |
| 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 |
TAN Costs Over Time
On $10,000 invested in TAN, assuming 5% a year before costs, total costs come to $466 over 5 years, cutting the return by 0.78% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $78 | $255 | $466 |
| Value after costs | $10,422 | $11,321 | $12,297 |
| Impact on return, per year | 0.78% | 0.78% | 0.78% |
TAN 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): 0.0406%
- Total broker commissions: $318K
- Bought from dealers (principal trades, not a cost): $575.4M
- Portfolio turnover (prospectus): 41%
- Securities on loan, average value: $220.3M
- Net income from securities lending: $2.3M (0.294% of average net assets)
TAN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $113K | 36.57% |
| INVESCO CAPITAL MARKETS, INC. | $60K | 19.28% |
| RBC CAPITAL MARKETS, LLC | $30K | 9.72% |
| BTIG, LLC | $28K | 9.13% |
| UBS SECURITIES LLC | $28K | 9.05% |
| STUART FRANKEL & CO., INC. | $18K | 5.96% |
| BARCLAYS CAPITAL INC. | $13K | 4.33% |
| CITADEL SECURITIES LLC | $11K | 3.52% |
| GOLDMAN, SACHS & CO. | $5K | 1.47% |
| CITIGROUP GLOBAL MARKETS INC. | $3K | 0.97% |
TAN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $220.7M | 38.36% |
| MORGAN STANLEY & CO. LLC | $129.2M | 22.46% |
| BNY MELLON CAPITAL MARKETS, LLC | $112.1M | 19.49% |
| UBS SECURITIES LLC | $108.1M | 18.78% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $5.3M | 0.91% |
| ITG INC. | $2 | 0.00% |
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.