Mutual Funds

Invesco High Yield Fund

Fixed Income | US Fixed Income

Dedicated to High Yield

An actively managed high yield strategy for investors seeking total return through growth of capital and current income.

Strength of Invesco
Fixed Income
  Dedicated team   Managing risk
through diversification
Invesco Fixed Income (IFI) has more than 30 years of experience managing fixed income assets, with more than 160 investment professionals, operating in 11 cities across five countries, and more than $241.1 billion in assets for investors worldwide.1   The High Yield team consists of 20 investment professionals with an average of 17 years of experience. The team seeks to outperform over a full market cycle by actively managing credit risk.   The team seeks to reduce risk by diversifying the portfolio’s assets in a wide number of different industries, issuers and bonds with a focus on liquidity.


Footnote(s)

1 As of Sept. 30, 2014.
Diversification does not guarantee a profit or eliminate the risk of loss.

Objective & Strategy

The fund’s investment objective is total return through growth of capital and current income.

as of 02/28/2015

Morningstar Rating

Overall Rating - High Yield Bond Category

As of 02/28/2015 the Fund had an overall rating of 3 stars out of 596 funds and was rated 2 stars out of 596 funds, 2 stars out of 501 funds and 3 stars out of 350 funds for the 3-, 5- and 10- year periods, respectively.

Morningstar details

Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effect of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable. ©2015 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. A fund is eligible for a Morningstar Rating three years after inception. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Ratings for other share classes may differ due to different performance characteristics.

Management team

as of 02/28/2015

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
FIRST DATA CORPORATION 11.750 08/15/2021 1.13
T MOBILE USA INC 6.625 04/01/2023 1.00
ALTICE SA 144A 7.750 05/15/2022 0.95
MICHAELS STORES INC 144A 5.875 12/15/2020 0.88
WIND ACQUISITION FIN SA 144A 7.375 04/23/2021 0.83
NUMERICABLE GROUP 144A 6.000 05/15/2022 0.82
FAMILY TREE ESCROW LLC 144A 5.750 03/01/2023 0.82
DIAMOND FOODS INC 144A 7.000 03/15/2019 0.80
1011778 BC NEW RED FIN 144A 6.000 04/01/2022 0.79
REYNOLDS GRP ISS REYNOLD 5.750 10/15/2020 0.75

Holdings are subject to change and are not buy/sell recommendations.

as of 02/28/2015 12/31/2014

Average Annual Returns (%)

  Incept.
Date
Max
Load (%)
Since
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 07/11/1978 N/A 7.91 3.06 1.86 7.14 8.34 7.07
Load 07/11/1978 4.25 7.79 -1.31 -2.43 5.58 7.40 6.61
Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Investment return and principal value will vary so that you may have a gain or a loss when you sell shares.

Performance shown at NAV does not include applicable front-end or CDSC sales charges, which would have reduced the performance.

Performance figures reflect reinvested distributions and changes in net asset value (NAV) and the effect of the maximum sales charge unless otherwise stated.

as of 02/28/2015 12/31/2014

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Barclays US High Yield 2% Issuer Cap IX 2.41 1.59 2.81 7.59 9.33 7.92
Barclays US Aggregate TR -0.94 1.23 5.05 2.76 4.29 4.82
Barclays US High Yield 2% Issuer Cap IX -1.44 -1.00 2.46 8.42 8.98 7.73
Barclays US Aggregate TR 0.09 1.79 5.97 2.66 4.45 4.71

Source: FactSet Research Systems Inc..

Source: FactSet Research Systems Inc.

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.51
12b-1 Fee 0.25
Other Expenses 0.21
Interest/Dividend Exp 0.00
Total Other Expenses 0.21
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.00
Total Annual Fund Operating Expenses 0.97
Contractual Waivers/Reimbursements N/A
Net Expenses - PER PROSPECTUS 0.97
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.97
This information is updated per the most recent prospectus.

Historical Prices

From   to
No history records found for this date range

Distributions

From   to
    Capital Gains Reinvestment
Price ($)
Ex-Date Income Short Term Long Term
02/28/2015 0.0197 N/A N/A 4.38
01/31/2015 0.0210 N/A N/A 4.30
12/31/2014 0.0210 N/A N/A 4.29
11/30/2014 0.0210 N/A N/A 4.37
10/31/2014 0.0210 N/A N/A 4.42
09/30/2014 0.0210 N/A N/A 4.40
08/31/2014 0.0210 N/A N/A 4.53
07/31/2014 0.0210 N/A N/A 4.49
06/30/2014 0.0210 N/A N/A 4.58
05/31/2014 0.0210 N/A N/A 4.56
04/30/2014 0.0217 N/A N/A 4.55
03/31/2014 0.0217 N/A N/A 4.55
02/28/2014 0.0217 N/A N/A 4.55
01/31/2014 0.0217 N/A N/A 4.49
12/31/2013 0.0217 N/A N/A 4.49
11/30/2013 0.0217 N/A N/A 4.47
10/31/2013 0.0217 N/A N/A 4.47
09/30/2013 0.0210 N/A N/A 4.37
08/31/2013 0.0210 N/A N/A 4.35
07/31/2013 0.0210 N/A N/A 4.41
06/30/2013 0.0210 N/A N/A 4.34
05/31/2013 0.0210 N/A N/A 4.52
04/30/2013 0.0210 N/A N/A 4.57
03/31/2013 0.0210 N/A N/A 4.50
02/28/2013 0.0210 N/A N/A 4.47
01/31/2013 0.0210 N/A N/A 4.48
12/31/2012 0.0210 N/A N/A 4.44
11/30/2012 0.0210 N/A N/A 4.38
10/31/2012 0.0210 N/A N/A 4.37
09/30/2012 0.0211 N/A N/A 4.35
08/31/2012 0.0211 N/A N/A 4.30
07/31/2012 0.0211 N/A N/A 4.27
06/30/2012 0.0211 N/A N/A 4.21
05/31/2012 0.0211 N/A N/A 4.16
04/30/2012 0.0211 N/A N/A 4.23
03/31/2012 0.0211 N/A N/A 4.22
02/29/2012 0.0212 N/A N/A 4.23
01/31/2012 0.0230 N/A N/A 4.14
12/31/2011 0.0230 N/A N/A 4.01
11/30/2011 0.0232 N/A N/A 3.94
10/31/2011 0.0256 N/A N/A 4.07
09/30/2011 0.0256 N/A N/A 3.87
08/31/2011 0.0256 N/A N/A 4.02
07/31/2011 0.0256 N/A N/A 4.26
06/30/2011 0.0256 N/A N/A 4.24
05/31/2011 0.0256 N/A N/A 4.32
04/30/2011 0.0256 N/A N/A 4.34
03/31/2011 0.0256 N/A N/A 4.31
02/28/2011 0.0256 N/A N/A 4.33
01/31/2011 0.0256 N/A N/A 4.30
12/31/2010 0.0256 N/A N/A 4.25
11/30/2010 0.0256 N/A N/A 4.19
10/31/2010 0.0256 N/A N/A 4.27
09/30/2010 0.0256 N/A N/A 4.21
08/31/2010 0.0260 N/A N/A 4.13
07/31/2010 0.0260 N/A N/A 4.15
06/30/2010 0.0265 N/A N/A 4.01
05/31/2010 0.0237 N/A N/A 4.00
04/30/2010 0.0278 N/A N/A 4.18
03/31/2010 0.0276 N/A N/A 4.13
02/28/2010 0.0261 N/A N/A 4.03
01/31/2010 0.0268 N/A N/A 4.06
12/31/2009 0.0271 N/A N/A 4.01
11/30/2009 0.0272 N/A N/A 3.94
10/31/2009 0.0274 N/A N/A 3.91
09/30/2009 0.0274 N/A N/A 3.85
08/31/2009 0.0265 N/A N/A 3.68
07/31/2009 0.0266 N/A N/A 3.64
06/30/2009 0.0292 N/A N/A 3.45
05/31/2009 0.0293 N/A N/A 3.372
04/30/2009 0.0374 N/A N/A 3.181
03/31/2009 0.0297 N/A N/A 2.887
02/28/2009 0.0297 N/A N/A 2.872
01/31/2009 0.0300 N/A N/A 3.006
12/31/2008 0.0299 N/A N/A 2.881
11/30/2008 0.0299 N/A N/A 2.738
10/31/2008 0.0296 N/A N/A 3.031
09/30/2008 0.0296 N/A N/A 3.704
08/31/2008 0.0296 N/A N/A 3.957
07/31/2008 0.0295 N/A N/A 3.975
06/30/2008 0.0294 N/A N/A 4.066
05/31/2008 0.0296 N/A N/A 4.182
04/30/2008 0.0290 N/A N/A 4.177
03/31/2008 0.0289 N/A N/A 4.026
02/29/2008 0.0289 N/A N/A 4.082
01/31/2008 0.0288 N/A N/A 4.143
12/31/2007 0.0288 N/A N/A 4.249
11/30/2007 0.0276 N/A N/A 4.262
10/31/2007 0.0276 N/A N/A 4.399
09/30/2007 0.0262 N/A N/A 4.403
08/31/2007 0.0278 N/A N/A 4.307
07/31/2007 0.0262 N/A N/A 4.301
06/30/2007 0.0262 N/A N/A 4.494
05/31/2007 0.0262 N/A N/A 4.601
04/30/2007 0.0263 N/A N/A 4.597
03/31/2007 0.0272 N/A N/A 4.556
02/28/2007 0.0270 N/A N/A 4.568
01/31/2007 0.0270 N/A N/A 4.544
12/31/2006 0.0265 N/A N/A 4.515
11/30/2006 0.0266 N/A N/A 4.469
10/31/2006 0.0266 N/A N/A 4.421
09/30/2006 0.0251 N/A N/A 4.385
08/31/2006 0.0251 N/A N/A 4.359
07/31/2006 0.0251 N/A N/A 4.315
06/30/2006 0.0251 N/A N/A 4.309
05/31/2006 0.0252 N/A N/A 4.364
04/30/2006 0.0252 N/A N/A 4.395
03/31/2006 0.0247 N/A N/A 4.401
02/28/2006 0.0247 N/A N/A 4.409
01/31/2006 0.0247 N/A N/A 4.39
12/31/2005 0.0247 N/A N/A 4.36
11/30/2005 0.0247 N/A N/A 4.341
10/31/2005 0.0253 N/A N/A 4.333
09/30/2005 0.0252 N/A N/A 4.416
08/31/2005 0.0252 N/A N/A 4.491
07/31/2005 0.0269 N/A N/A 4.503
06/30/2005 0.0269 N/A N/A 4.449
05/31/2005 0.0268 N/A N/A 4.396
04/30/2005 0.0268 N/A N/A 4.346
03/31/2005 0.0238 N/A N/A 4.433
02/28/2005 0.0208 N/A N/A 4.582
01/31/2005 0.0200 N/A N/A 4.521
12/31/2004 0.0200 N/A N/A 4.553
11/30/2004 0.0234 N/A N/A 4.498
10/31/2004 0.0255 N/A N/A 4.455
09/30/2004 0.0263 N/A N/A 4.40
08/31/2004 0.0275 N/A N/A 4.361
07/31/2004 0.0275 N/A N/A 4.311
06/30/2004 0.0275 N/A N/A 4.308
05/31/2004 0.0275 N/A N/A 4.272
04/30/2004 0.0275 N/A N/A 4.393
03/31/2004 0.0275 N/A N/A 4.411
02/29/2004 0.0290 N/A N/A 4.44
01/31/2004 0.0300 N/A N/A 4.494
12/31/2003 0.0385 N/A N/A 4.414
11/30/2003 0.0300 N/A N/A 4.334
10/31/2003 0.0265 N/A N/A 4.284
09/30/2003 0.0300 N/A N/A 4.197
08/31/2003 0.0280 N/A N/A 4.127
07/31/2003 0.0280 N/A N/A 4.105
06/30/2003 0.0260 N/A N/A 4.159
05/31/2003 0.0260 N/A N/A 4.071
04/30/2003 0.0275 N/A N/A 4.036
03/31/2003 0.0290 N/A N/A 3.854
02/28/2003 0.0290 N/A N/A 3.777
01/31/2003 0.0325 N/A N/A 3.762
12/31/2002 0.0325 N/A N/A 3.694
11/30/2002 0.0335 N/A N/A 3.667
10/31/2002 0.0335 N/A N/A 3.497
09/30/2002 0.0360 N/A N/A 3.593
08/31/2002 0.0360 N/A N/A 3.687
07/31/2002 0.0360 N/A N/A 3.711
06/30/2002 0.0360 N/A N/A 3.905
05/31/2002 0.0400 N/A N/A 4.258
04/30/2002 0.0400 N/A N/A 4.369
03/31/2002 0.0400 N/A N/A 4.40
02/28/2002 0.0425 N/A N/A 4.35
01/31/2002 0.0455 N/A N/A 4.568
12/31/2001 0.0460 N/A N/A 4.606
11/30/2001 0.0485 N/A N/A 4.701
10/31/2001 0.0500 N/A N/A 4.571
09/30/2001 0.0500 N/A N/A 4.522
08/31/2001 0.0500 N/A N/A 4.924
07/31/2001 0.0500 N/A N/A 4.922
06/30/2001 0.0520 N/A N/A 4.972
05/31/2001 0.0540 N/A N/A 5.205
04/30/2001 0.0570 N/A N/A 5.229
03/31/2001 0.0610 N/A N/A 5.38
02/28/2001 0.0640 N/A N/A 5.744
01/31/2001 0.0640 N/A N/A 5.802
12/31/2000 0.0660 N/A N/A 5.432
11/30/2000 0.0660 N/A N/A 5.466
10/31/2000 0.0660 N/A N/A 5.985
09/30/2000 0.0660 N/A N/A 6.534
08/31/2000 0.0660 N/A N/A 6.844
07/31/2000 0.0660 N/A N/A 7.003
06/30/2000 0.0740 N/A N/A 7.097
05/31/2000 0.0740 N/A N/A 7.076
04/30/2000 0.0740 N/A N/A 7.341
03/31/2000 0.0740 N/A N/A 7.604
02/29/2000 0.0740 N/A N/A 7.986
01/31/2000 0.0740 N/A N/A 7.949
12/31/1999 0.0740 N/A N/A 8.064
11/30/1999 0.0740 N/A N/A 8.017
10/31/1999 0.0740 N/A N/A 7.94
09/30/1999 0.0740 N/A N/A 8.10
08/31/1999 0.0740 N/A N/A 8.279
07/31/1999 0.0740 N/A N/A 8.477
06/30/1999 0.0740 N/A N/A 8.518
05/31/1999 0.0740 N/A N/A 8.636
04/30/1999 0.0740 N/A N/A 8.872
03/31/1999 0.0740 N/A N/A 8.757
02/28/1999 0.0740 N/A N/A 8.712
01/31/1999 0.0740 N/A N/A 8.799
12/31/1998 0.0984 N/A N/A 8.767
11/30/1998 0.0740 N/A N/A 8.924
10/31/1998 0.0740 N/A N/A 8.584
09/30/1998 0.0740 N/A N/A 8.942
08/31/1998 0.0740 N/A N/A 9.252
07/31/1998 0.0740 N/A N/A 10.017
06/30/1998 0.0740 N/A N/A 10.061
05/31/1998 0.0740 N/A N/A 10.192
04/30/1998 0.0740 N/A N/A 10.275
03/31/1998 0.0740 N/A N/A 10.323
02/28/1998 0.0740 N/A N/A 10.273
01/31/1998 0.0740 0.0000 0.0000 10.269
12/31/1997 0.0865 N/A N/A 10.159
11/30/1997 0.0740 N/A N/A 10.155
10/31/1997 0.0740 N/A N/A 10.137
09/30/1997 0.0740 N/A N/A 10.219
08/31/1997 0.0740 0.0000 0.0000 10.033
07/31/1997 0.0740 N/A N/A 10.053
06/30/1997 0.0740 N/A N/A 9.879
05/31/1997 0.0740 N/A N/A 9.796
04/30/1997 0.0740 N/A N/A 9.625
03/31/1997 0.0740 N/A N/A 9.684
02/28/1997 0.0740 N/A N/A 10.008
01/31/1997 0.0740 N/A N/A 9.931
12/31/1996 0.1030 N/A N/A 9.884
11/30/1996 0.0740 N/A N/A 9.804
10/31/1996 0.0740 N/A N/A 9.684
09/30/1996 0.0740 N/A N/A 9.68
08/31/1996 0.0740 N/A N/A 9.486
07/31/1996 0.0740 N/A N/A 9.401
06/30/1996 0.0740 0.0000 0.0000 9.453
05/31/1996 0.0740 N/A N/A 9.486
04/30/1996 0.0740 N/A N/A 9.472
03/31/1996 0.0790 N/A N/A 9.442
02/29/1996 0.0790 N/A N/A 9.553
01/31/1996 0.0790 N/A N/A 9.51
12/31/1995 0.0790 N/A N/A 9.425
11/30/1995 0.0790 N/A N/A 9.37
10/31/1995 0.0790 N/A N/A 9.42
09/30/1995 0.0790 N/A N/A 9.39
08/31/1995 0.0790 N/A N/A 9.35
07/31/1995 0.0790 N/A N/A 9.46
06/30/1995 0.0790 N/A N/A 9.37
05/31/1995 0.0790 N/A N/A 9.43
04/30/1995 0.0790 N/A N/A 9.32
03/31/1995 0.0790 N/A N/A 9.17
02/28/1995 0.0790 N/A N/A 9.17
01/31/1995 0.0790 N/A N/A 8.95
12/31/1994 0.0940 N/A N/A 8.93
11/30/1994 0.0790 N/A N/A 9.02
10/31/1994 0.0790 N/A N/A 9.20
09/30/1994 0.0790 N/A N/A 9.26
08/31/1994 0.0790 N/A N/A 9.28
07/29/1994 0.0790 N/A N/A 9.32
06/30/1994 0.0790 N/A N/A 9.49
05/31/1994 0.0790 N/A N/A 9.55
04/29/1994 0.0790 N/A N/A 9.62
03/31/1994 0.0790 N/A N/A 9.80
02/28/1994 0.0790 N/A N/A 10.21
01/31/1994 0.0790 N/A N/A 10.27
12/31/1993 0.0825 N/A N/A 10.05
11/30/1993 0.0790 N/A N/A 10.00
10/29/1993 0.0408 N/A N/A 10.01
10/15/1993 0.0572 N/A N/A 10.02
09/30/1993 0.0790 N/A N/A 9.89
08/31/1993 0.0790 N/A N/A 9.96
07/30/1993 0.0790 N/A N/A 9.99
06/15/1993 0.0850 N/A N/A 9.85
05/14/1993 0.0850 N/A N/A 9.75
04/15/1993 0.0850 N/A N/A 9.71
03/15/1993 0.0850 N/A N/A 9.70
02/12/1993 0.0850 N/A N/A 9.58
01/15/1993 0.0850 N/A N/A 9.45
12/15/1992 0.1400 N/A N/A 9.34
11/13/1992 0.0850 N/A N/A 9.35
10/15/1992 0.0850 N/A N/A 9.32
09/15/1992 0.0850 N/A N/A 9.57
08/14/1992 0.0825 N/A N/A 9.54
07/15/1992 0.0825 N/A N/A 9.39
06/23/1992 0.0825 N/A N/A 9.39
05/22/1992 0.0825 N/A N/A 9.35
04/23/1992 0.0825 N/A N/A 9.37
03/24/1992 0.0825 N/A N/A 9.40
02/21/1992 0.0825 N/A N/A 9.34
01/24/1992 0.0775 N/A N/A 9.17
12/23/1991 0.1775 N/A N/A 8.79
11/22/1991 0.0775 N/A N/A 8.95
10/25/1991 0.0775 N/A N/A 8.89
09/23/1991 0.0775 N/A N/A 8.63
08/23/1991 0.0775 N/A N/A 8.49
07/24/1991 0.0775 N/A N/A 8.43
06/21/1991 0.0775 N/A N/A 8.18
05/24/1991 0.0775 N/A N/A 8.02
04/23/1991 0.0775 N/A N/A 8.14
03/22/1991 0.0775 N/A N/A 7.70
02/22/1991 0.0775 N/A N/A 7.32
01/25/1991 0.0900 N/A N/A 7.03
12/24/1990 0.0900 0.0000 0.0000 7.06
11/21/1990 0.0900 N/A N/A 6.99
10/25/1990 0.0900 N/A N/A 7.05
09/21/1990 0.0900 N/A N/A 7.79
08/24/1990 0.0900 N/A N/A 8.05
07/25/1990 0.0900 N/A N/A 8.55
06/22/1990 0.0900 N/A N/A 8.45
05/24/1990 0.0900 N/A N/A 8.31
04/24/1990 0.1000 N/A N/A 8.23
03/23/1990 0.1000 N/A N/A 8.24
02/23/1990 0.1000 N/A N/A 8.29
01/24/1990 0.1000 N/A N/A 8.84
12/22/1989 0.1150 N/A N/A 8.95
11/22/1989 0.1000 N/A N/A 9.12
10/26/1989 0.1000 N/A N/A 9.31
09/22/1989 0.1000 N/A N/A 9.62
08/25/1989 0.1000 N/A N/A 9.84
07/25/1989 0.1000 N/A N/A 9.89
06/23/1989 0.1000 N/A N/A 9.93
05/26/1989 0.1000 N/A N/A 9.86
04/21/1989 0.1000 N/A N/A 9.73
03/23/1989 0.1000 N/A N/A 9.93
02/22/1989 0.1000 N/A N/A 10.04
01/24/1989 0.0975 N/A N/A 10.06
12/22/1988 0.1075 N/A N/A 10.01
11/23/1988 0.0975 N/A N/A 9.99
10/21/1988 0.0975 N/A N/A 10.09
09/23/1988 0.0975 N/A N/A 10.05
08/24/1988 0.0975 N/A N/A 10.01
07/22/1988 0.0975 N/A N/A 10.08
06/24/1988 0.0975 N/A N/A 10.07
05/24/1988 0.0975 N/A N/A 9.93
04/22/1988 0.0975 N/A N/A 10.01
03/25/1988 0.0975 N/A N/A 10.04
02/19/1988 0.0975 N/A N/A 9.93
01/22/1988 0.0975 N/A N/A 9.83
12/23/1987 0.0975 N/A N/A 9.54
11/20/1987 0.0975 N/A N/A 9.62
10/22/1987 0.1000 N/A N/A 9.44
09/23/1987 0.1000 N/A N/A 10.00
08/21/1987 0.1000 0.0000 0.0000 10.33
07/23/1987 0.1000 N/A N/A 10.33
06/23/1987 0.1000 N/A N/A 10.42
05/21/1987 0.1000 N/A N/A 10.29
04/22/1987 0.1000 N/A N/A 10.60
03/24/1987 0.1000 N/A N/A 10.84
02/20/1987 0.1000 N/A N/A 10.77
01/23/1987 0.1000 N/A N/A 10.73
12/23/1986 0.1000 N/A N/A 10.52
11/20/1986 0.1000 N/A N/A 10.76
10/24/1986 0.1000 N/A N/A 10.73
09/23/1986 0.1000 N/A N/A 10.62
08/22/1986 0.1000 N/A N/A 10.64
07/24/1986 0.1000 N/A N/A 10.70
06/20/1986 0.1000 N/A N/A 10.72
05/15/1986 0.1070 N/A N/A 10.70
04/15/1986 0.1070 N/A N/A 10.61
03/17/1986 0.1070 N/A N/A 10.54
02/07/1986 0.1070 N/A N/A 10.17
01/03/1986 0.1070 N/A N/A 10.11
12/06/1985 0.1070 N/A N/A 9.89
11/08/1985 0.1070 N/A N/A 9.80
10/04/1985 0.1070 N/A N/A 9.83
09/06/1985 0.1070 N/A N/A 9.84
08/02/1985 0.1070 N/A N/A 9.81
07/05/1985 0.1070 N/A N/A 9.91
06/07/1985 0.1070 0.0000 0.0000 10.06
05/03/1985 0.1070 N/A N/A 9.57
04/04/1985 0.1070 N/A N/A 9.47
03/08/1985 0.1070 N/A N/A 9.51
02/08/1985 0.1070 0.0000 0.0000 9.58
01/04/1985 0.1070 N/A N/A 9.33
12/07/1984 0.1070 N/A N/A 9.40
11/02/1984 0.1070 N/A N/A 9.41
10/05/1984 0.1070 N/A N/A 9.24
09/07/1984 0.1070 N/A N/A 9.13
08/03/1984 0.1070 N/A N/A 9.15
07/06/1984 0.1070 N/A N/A 8.98
06/08/1984 0.1070 N/A N/A 9.04
05/04/1984 0.1100 N/A N/A 9.29
04/06/1984 0.1000 0.0000 0.0000 9.46
03/02/1984 0.1100 N/A N/A 9.69
02/03/1984 0.1100 N/A N/A 9.85
01/06/1984 0.1000 0.0000 0.0000 9.79
12/02/1983 0.1100 N/A N/A 9.84
11/04/1983 0.1100 N/A N/A 9.83
10/07/1983 0.1000 N/A N/A 9.94
09/02/1983 0.1100 N/A N/A 9.74
08/05/1983 0.1100 N/A N/A 9.72
07/01/1983 0.1000 N/A N/A 10.00
06/03/1983 0.1100 N/A N/A 10.19
05/06/1983 0.1100 N/A N/A 10.51
04/11/1983 0.1000 N/A N/A 10.28
03/14/1983 0.1100 N/A N/A 10.10
02/14/1983 0.1100 N/A N/A 9.76
01/17/1983 0.1000 N/A N/A 9.69
12/13/1982 0.1100 N/A N/A 9.37
11/15/1982 0.1100 N/A N/A 9.49
10/11/1982 0.1000 N/A N/A 9.15
09/13/1982 0.1100 N/A N/A 8.82
08/16/1982 0.1100 N/A N/A 8.36
07/12/1982 0.1000 N/A N/A 8.06
06/14/1982 0.1100 N/A N/A 8.14
05/17/1982 0.1100 N/A N/A 8.25
04/12/1982 0.1000 N/A N/A 7.99
03/15/1982 0.1600 N/A N/A 8.01
02/15/1982 0.1100 0.0000 0.0000 8.01
01/18/1982 0.1000 N/A N/A 8.17
12/14/1981 0.1100 N/A N/A 8.48
11/16/1981 0.1100 N/A N/A 8.73
10/12/1981 0.1000 N/A N/A 8.11
09/14/1981 0.1100 N/A N/A 8.04
08/17/1981 0.1100 N/A N/A 8.46
07/13/1981 0.1000 N/A N/A 8.72
06/15/1981 0.1100 N/A N/A 8.94
05/11/1981 0.1100 N/A N/A 8.56
04/13/1981 0.1000 N/A N/A 8.82
03/16/1981 0.1600 N/A N/A 9.02
02/17/1981 0.1100 N/A N/A 8.93
01/12/1981 0.1000 N/A N/A 9.25
12/15/1980 0.1000 N/A N/A 8.94
11/17/1980 0.1100 N/A N/A 9.40
10/13/1980 0.1000 N/A N/A 9.61
09/15/1980 0.1000 N/A N/A 9.69
08/11/1980 0.1100 N/A N/A 9.87
07/14/1980 0.1000 N/A N/A 10.19
06/16/1980 0.1000 N/A N/A 10.60
05/12/1980 0.1100 N/A N/A 10.06
04/14/1980 0.1000 N/A N/A 9.29
03/17/1980 0.1000 N/A N/A 9.11
02/11/1980 0.1100 N/A N/A 9.81
01/14/1980 0.1000 N/A N/A 10.31
12/17/1979 0.1000 N/A N/A 10.34
11/12/1979 0.1100 N/A N/A 10.06
10/15/1979 0.1000 N/A N/A 10.57
09/17/1979 0.1000 N/A N/A 11.32
08/13/1979 0.1100 N/A N/A 11.55
07/16/1979 0.1000 N/A N/A 11.51
06/11/1979 0.1000 N/A N/A 11.46
05/14/1979 0.1100 N/A N/A 11.51
04/16/1979 0.1000 N/A N/A 11.65
03/12/1979 0.1000 N/A N/A 11.50
02/12/1979 0.1100 N/A N/A 11.46
01/15/1979 0.1000 N/A N/A 11.27
12/11/1978 0.1000 N/A N/A 11.28
11/13/1978 0.1100 N/A N/A 11.18
10/16/1978 0.1000 N/A N/A 11.98
09/11/1978 0.1000 N/A N/A 12.19
as of 02/28/2015

Quality Breakdown

Ratings are based on S&P, Moody's or Fitch, as applicable. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations, including specific securities, money market instruments or other debts. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest); ratings are subject to change without notice. NR indicates the debtor was not rated, and should not be interpreted as indicating low quality. If securities are rated differently by the rating agencies, the higher rating is applied. Credit ratings are based largely on the rating agency's investment analysis at the time of rating and the rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition. The rating assigned to a security by a rating agency does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. For more information on the rating methodology, please visit the following NRSRO websites: www.standardandpoors.com and select 'Understanding Ratings' under Rating Resources on the homepage; www.moodys.com and select 'Rating Methodologies' under Research and Ratings on the homepage; www.fitchratings.com and select 'Ratings Definitions' on the homepage.

as of 02/28/2015

Fund Characteristics

3-Year Alpha -0.88%
3-Year Beta 1.06
3-Year R-Squared 0.97
3-Year Sharpe Ratio 1.51
3-Year Standard Deviation 4.70
Number of Securities 362
Total Assets $1,684,323,734.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Barclays US High Yield 2% Issuer Cap IX

as of 02/28/2015

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
FIRST DATA CORPORATION 11.750 08/15/2021 1.13
T MOBILE USA INC 6.625 04/01/2023 1.00
ALTICE SA 144A 7.750 05/15/2022 0.95
MICHAELS STORES INC 144A 5.875 12/15/2020 0.88
WIND ACQUISITION FIN SA 144A 7.375 04/23/2021 0.83
NUMERICABLE GROUP 144A 6.000 05/15/2022 0.82
FAMILY TREE ESCROW LLC 144A 5.750 03/01/2023 0.82
DIAMOND FOODS INC 144A 7.000 03/15/2019 0.80
1011778 BC NEW RED FIN 144A 6.000 04/01/2022 0.79
REYNOLDS GRP ISS REYNOLD 5.750 10/15/2020 0.75

Holdings are subject to change and are not buy/sell recommendations.

as of 02/28/2015

Top Industries

  % of Total Assets
Wireless Telecommunication Services 7.55
Oil & Gas Exploration & Production 6.95
Cable & Satellite 4.13
Oil & Gas Storage & Transportation 3.34
Health Care Facilities 3.31
Building Products 2.98
Construction & Farm Machinery & Heavy Trucks 2.88
Steel 2.64
Trading Companies & Distributors 2.59
Packaged Foods & Meats 2.49

The holdings are organized according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of Morgan Stanley Capital International Inc. and Standard & Poor's.

 About risk

Collateralized Loan Obligations Risk. In addition to the normal interest rate, default and other risks of fixed income securities, collateralized loan obligations carry additional risks, including the possibility that distributions from collateral securities will not be adequate to make interest or other payments, the quality of the collateral may decline in value or default, the Fund may invest in collateralized loan obligations that are subordinate to other classes, values may be volatile, and disputes with the issuer may produce unexpected investment results.

Convertible Securities Risk. The Fund may own convertible securities, the value of which may be affected by market interest rates, the risk that the issuer will default, the value of the underlying stock or the right of the issuer to buy back the convertible securities.

Credit Risk. The issuer of instruments in which the Fund invests may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer's credit rating.

Derivatives Risk. The performance of derivative instruments is tied to the performance of an underlying currency, security, index, commodity or other instrument. In addition to risks relating to their underlying instruments, the use of derivatives may include other, possibly greater, risks. Derivatives involve costs, may be volatile, and may involve a small initial investment relative to the risk assumed. Risks associated with the use of derivatives may include counterparty, leverage, correlation, liquidity, tax, market, interest rate and management risks. Derivatives may also be more difficult to purchase, sell or value than other investments. The Fund may lose more than the cash amount invested on investments in derivatives. Investors should bear in mind that, while the Fund intends to use derivative strategies, it is not obligated to actively engage in these transactions, generally or in any particular kind of derivative, if the Adviser elects not to do so due to availability, cost, market conditions or other factors.

Developing/Emerging Markets Securities Risk. The prices of securities issued by foreign companies and governments located in developing/emerging markets countries may be affected more negatively by inflation, devaluation of their currencies, higher transaction costs, delays in settlement, adverse political developments, the introduction of capital controls, withholding taxes, nationalization of private assets, expropriation, social unrest, war or lack of timely information than those in developed countries.

Foreign Securities Risk. The Fund's foreign investments may be affected by changes in a foreign country's exchange rates, political and social instability, changes in economic or taxation policies, difficulties when enforcing obligations, decreased liquidity, and increased volatility. Foreign companies may be subject to less regulation resulting in less publicly available information about the companies.

High Yield Bond (Junk Bond) Risk. Junk bonds involve a greater risk of default or price changes due to changes in the credit quality of the issuer. The values of junk bonds fluctuate more than those of high-quality bonds in response to company, political, regulatory or economic developments. Values of junk bonds can decline significantly over short periods of time.

Interest Rate Risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise; conversely, bond prices generally rise as interest rates fall. Specific bonds differ in their sensitivity to changes in interest rates depending on their individual characteristics, including duration.

Liquidity Risk. The Fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.

Management Risk. The investment techniques and risk analysis used by the Fund's portfolio managers may not produce the desired results.

Market Risk. The prices of and the income generated by the Fund's securities may decline in response to, among other things, investor sentiment, general economic and market conditions, regional or global instability, and currency and interest rate fluctuations.

Mortgage- and Asset-Backed Securities Risk. The Fund may invest in mortgage- and asset-backed securities that are subject to prepayment or call risk, which is the risk that the borrower's payments may be received earlier or later than expected due to changes in prepayment rates on underlying loans. Faster prepayments often happen when interest rates are falling. As a result, the Fund may reinvest these early payments at lower interest rates, thereby reducing the Fund's income. Conversely, when interest rates rise, prepayments may happen more slowly, causing the security to lengthen in duration. Longer duration securities tend to be more volatile. Securities may be prepaid at a price less than the original purchase value. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may adversely affect the value of mortgage-backed securities and could result in losses to the Fund. The risk of such defaults is generally higher in the case of mortgage pools that include subprime mortgages. Subprime mortgages refer to loans made to borrowers with weakened credit histories or with lower capacity to make timely payments on their mortgages.

Municipal Securities Risk. The Fund may invest in municipal securities. Constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives, and the issuer's regional economic conditions may affect the municipal security's value, interest payments, repayment of principal and the Fund's ability to sell it. Failure of a municipal security issuer to comply with applicable tax requirements may make income paid thereon taxable, resulting in a decline in the security's value. In addition, there could be changes in applicable tax laws or tax treatments that reduce or eliminate the current federal income tax exemption on municipal securities or otherwise adversely affect the current federal or state tax status of municipal securities.

Preferred Securities Risk. Preferred securities may include provisions that permit the issuer, in its discretion, to defer or omit distributions for a certain period of time. If the Fund owns a security that is deferring or omitting its distributions, the Fund may be required to report the distribution on its tax returns, even though it may not have received this income. Further, preferred securities may lose substantial value due to the omission or deferment of dividend payments.

Reinvestment Risk. Reinvestment risk is the risk that a bond's cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Zero Coupon or Pay-In-Kind Securities Risk. The value, interest rates, and liquidity of non-cash paying instruments, such as zero coupon and pay-in-kind securities, are subject to greater fluctuation than other types of securities.

as of 03/27/2015

AMHYX

NAV Change ($)
$4.34 0.00
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 03/27/2015

Yield 

  • Distribution Yield
    with Sales Charge 5.22%
  • Distribution Yield
    without Sales Charge 5.45%
  • SEC 30-Day Yield 4.86%
  • Unsub. 30-Day Yield N/A

Fund Details

  • Distribution Frequency Monthly
  • NASDAQ AMHYX
  • WSJ Abrev. HYld
  • CUSIP 00142C706
  • Fund Type Fixed Income
  • Geography Type Domestic
  • Inception Date 07/11/1978
  • Fiscal Year End 02/28
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1575
  • Tax ID 76-0413830

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