XMLV Fees and Costs — Invesco S&P MidCap Low Volatility ETF
Data updated: 2026-07-28
The net expense ratio is 0.25%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $146K in broker commissions, 0.0180% of average net assets, and portfolio turnover was 58%.
XMLV Fees and Expenses
Annual operating expenses and sales charges of XMLV. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.25% |
| Fee waiver | — |
| Net expense ratio | 0.25% |
| 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 |
XMLV Costs Over Time
On $10,000 invested in XMLV, assuming 5% a year before costs, total costs come to $170 over 5 years, cutting the return by 0.28% 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 0.25%) | $26 | $83 | $144 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $28 | $93 | $170 |
| Value after costs | $10,472 | $11,483 | $12,593 |
| Impact on return, per year | 0.28% | 0.28% | 0.28% |
XMLV 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): 0.0180%
- Total broker commissions: $146K
- Bought from dealers (principal trades, not a cost): $762.8M
- Portfolio turnover (prospectus): 58%
- Securities on loan, average value: $63.4M
- Net income from securities lending: $85K (0.011% of average net assets)
XMLV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $58K | 39.56% |
| INVESCO CAPITAL MARKETS, INC. | $50K | 34.18% |
| CITIGROUP GLOBAL MARKETS INC. | $22K | 15.03% |
| MORGAN STANLEY & CO. LLC | $15K | 10.59% |
| JEFFERIES LLC | $733 | 0.50% |
| RBC CAPITAL MARKETS, LLC | $62 | 0.04% |
| BARCLAYS CAPITAL INC. | $43 | 0.03% |
| WELLS FARGO SECURITIES, LLC | $35 | 0.02% |
| GOLDMAN, SACHS & CO. | $35 | 0.02% |
| UBS SECURITIES LLC | $34 | 0.02% |
XMLV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $344.8M | 45.21% |
| CITIGROUP GLOBAL MARKETS INC. | $214.5M | 28.13% |
| CITADEL SECURITIES LLC | $75.4M | 9.89% |
| BNY MELLON CAPITAL MARKETS, LLC | $60.6M | 7.94% |
| VIRTU AMERICAS LLC | $27.7M | 3.63% |
| GOLDMAN, SACHS & CO. | $16.3M | 2.14% |
| JANE STREET CAPITAL, LLC | $14.8M | 1.94% |
| RBC CAPITAL MARKETS, LLC | $6.1M | 0.80% |
| MORGAN STANLEY & CO. LLC | $2.5M | 0.32% |
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.