XSHQ Fees and Costs — Invesco S&P SmallCap Quality ETF
Data updated: 2026-07-28
The net expense ratio is 0.29%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $85K in broker commissions, 0.0233% of average net assets, and portfolio turnover was 69%.
XSHQ Fees and Expenses
Annual operating expenses and sales charges of XSHQ. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| 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 |
XSHQ Costs Over Time
On $10,000 invested in XSHQ, assuming 5% a year before costs, total costs come to $199 over 5 years, cutting the return by 0.33% 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 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $33 | $108 | $199 |
| Value after costs | $10,467 | $11,468 | $12,564 |
| Impact on return, per year | 0.33% | 0.33% | 0.33% |
XSHQ 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): 0.0233%
- Total broker commissions: $85K
- Bought from dealers (principal trades, not a cost): $473.9M
- Portfolio turnover (prospectus): 69%
- Securities on loan, average value: $75.1M
- Net income from securities lending: $95K (0.026% of average net assets)
XSHQ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $55K | 65.17% |
| INVESCO CAPITAL MARKETS, INC. | $13K | 14.99% |
| COWEN AND COMPANY | $10K | 12.04% |
| RBC CAPITAL MARKETS, LLC | $5K | 5.96% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $1K | 1.25% |
| MIZUHO SECURITIES USA LLC | $324 | 0.38% |
| BARCLAYS CAPITAL INC. | $53 | 0.06% |
| WELLS FARGO SECURITIES, LLC | $47 | 0.05% |
| UBS SECURITIES LLC | $45 | 0.05% |
| EVERCORE GROUP L.L.C. | $39 | 0.05% |
XSHQ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $153.9M | 32.48% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $131.4M | 27.73% |
| VIRTU AMERICAS LLC | $80.1M | 16.89% |
| JANE STREET CAPITAL, LLC | $52.7M | 11.12% |
| RBC CAPITAL MARKETS, LLC | $27.8M | 5.86% |
| BNY MELLON CAPITAL MARKETS, LLC | $19.3M | 4.07% |
| GOLDMAN, SACHS & CO. | $7.1M | 1.50% |
| BNP PARIBAS SECURITIES CORP. | $1.7M | 0.35% |
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.