UPGD Fees and Costs — Invesco Bloomberg Analyst Rating Improvers ETF
Data updated: 2026-09-28
The net expense ratio is 0.40%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $32K in broker commissions, 0.0300% of average net assets, and portfolio turnover was 170%.
UPGD Fees and Expenses
Annual operating expenses and sales charges of UPGD. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.40% |
| Fee waiver | — |
| Net expense ratio | 0.40% |
| 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 |
UPGD Costs Over Time
On $10,000 invested in UPGD, assuming 5% a year before costs, total costs come to $272 over 5 years, cutting the return by 0.45% 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 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $45 | $149 | $272 |
| Value after costs | $10,455 | $11,428 | $12,491 |
| Impact on return, per year | 0.45% | 0.45% | 0.45% |
UPGD 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): 0.0300%
- Total broker commissions: $32K
- Bought from dealers (principal trades, not a cost): $77.7M
- Portfolio turnover (prospectus): 170%
- Securities on loan, average value: $4.4M
- Net income from securities lending: $6K (0.006% of average net assets)
UPGD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INVESCO CAPITAL MARKETS, INC. | $24K | 74.92% |
| TD Securities (USA) LLC | $8K | 24.53% |
| CITIGROUP GLOBAL MARKETS INC. | $107 | 0.33% |
| MORGAN STANLEY & CO. LLC | $19 | 0.06% |
| WELLS FARGO SECURITIES, LLC | $14 | 0.04% |
| UBS SECURITIES LLC | $14 | 0.04% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $9 | 0.03% |
| GOLDMAN, SACHS & CO. | $8 | 0.02% |
| RBC CAPITAL MARKETS, LLC | $4 | 0.01% |
| VIRTU AMERICAS LLC | $3 | 0.01% |
UPGD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD Securities (USA) LLC | $52.5M | 67.55% |
| CITADEL SECURITIES LLC | $9.6M | 12.38% |
| BNY MELLON CAPITAL MARKETS, LLC | $6.4M | 8.29% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $5.2M | 6.65% |
| JANE STREET CAPITAL, LLC | $3.1M | 4.03% |
| ABN AMRO Clearing USA LLC | $749K | 0.96% |
| WELLS FARGO SECURITIES, LLC | $111K | 0.14% |
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.