VAFIX Fees and Costs — Invesco American Franchise Fund, Class Y
Data updated: 2026-07-28
The net expense ratio is 0.68%: a 0.56% management fee plus 0.12% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3.3M in broker commissions, 0.0202% of average net assets, and portfolio turnover was 54%.
VAFIX Fees and Expenses
Annual operating expenses and sales charges of VAFIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.56% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.68% |
| Fee waiver | — |
| Net expense ratio | 0.68% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
VAFIX Costs Over Time
On $10,000 invested in VAFIX, assuming 5% a year before costs, total costs come to $441 over 5 years, cutting the return by 0.74% 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 0.68%) | $71 | $223 | $389 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $241 | $441 |
| Value after costs | $10,426 | $11,335 | $12,322 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
VAFIX 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): 0.0202%
- Total broker commissions: $3.3M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 54%
- Securities on loan, average value: $51.0M
- Net income from securities lending: $222K (0.001% of average net assets)
VAFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $602K | 19.10% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $554K | 17.57% |
| CITIGROUP GLOBAL MARKETS INC. | $500K | 15.85% |
| UBS SECURITIES LLC | $457K | 14.51% |
| J.P. MORGAN SECURITIES LLC | $435K | 13.81% |
| MORGAN STANLEY & CO. LLC | $373K | 11.84% |
| WELLS FARGO SECURITIES, LLC | $93K | 2.94% |
| INVESCO CAPITAL MARKETS, INC. | $59K | 1.87% |
| LUMINEX TRADING & ANALYTICS LLC | $44K | 1.40% |
| LIQUIDNET, INC. | $35K | 1.10% |
Invesco American Franchise Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VAFFX | Class R6 | 0.61% | none |
| VAFIX | Class Y | 0.68% | none |
| VAFNX | Class R5 | 0.68% | none |
| VAFAX | Class A | 0.93% | 5.50% |
| VAFRX | Class R | 1.18% | none |
| VAFCX | Class C | 1.68% | none |
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.