XSLV Fees and Costs — Invesco S&P SmallCap 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 $118K in broker commissions, 0.0403% of average net assets, and portfolio turnover was 73%.
XSLV Fees and Expenses
Annual operating expenses and sales charges of XSLV. 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 |
XSLV Costs Over Time
On $10,000 invested in XSLV, assuming 5% a year before costs, total costs come to $184 over 5 years, cutting the return by 0.30% 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) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $30 | $101 | $184 |
| Value after costs | $10,470 | $11,476 | $12,579 |
| Impact on return, per year | 0.30% | 0.30% | 0.30% |
XSLV 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): 0.0403%
- Total broker commissions: $118K
- Bought from dealers (principal trades, not a cost): $145.5M
- Portfolio turnover (prospectus): 73%
- Securities on loan, average value: $41.4M
- Net income from securities lending: $62K (0.021% of average net assets)
XSLV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $46K | 39.19% |
| INVESCO CAPITAL MARKETS, INC. | $39K | 33.16% |
| RBC CAPITAL MARKETS, LLC | $17K | 14.80% |
| MACQUARIE CAPITAL (USA) INC. | $15K | 12.40% |
| COWEN AND COMPANY | $216 | 0.18% |
| STATE STREET GLOBAL MARKETS, LLC | $79 | 0.07% |
| BARCLAYS CAPITAL INC. | $72 | 0.06% |
| UBS SECURITIES LLC | $65 | 0.06% |
| EVERCORE GROUP L.L.C. | $55 | 0.05% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $44 | 0.04% |
XSLV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $49.4M | 33.93% |
| CITADEL SECURITIES LLC | $37.9M | 26.06% |
| BNY MELLON CAPITAL MARKETS, LLC | $22.8M | 15.70% |
| JANE STREET CAPITAL, LLC | $17.2M | 11.82% |
| VIRTU AMERICAS LLC | $12.0M | 8.26% |
| GOLDMAN, SACHS & CO. | $5.2M | 3.57% |
| MORGAN STANLEY & CO. LLC | $950K | 0.65% |
| STATE STREET GLOBAL MARKETS, LLC | $4K | 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.