Mutual Funds

Invesco Limited Term Municipal Income Fund

Fixed Income | US Fixed Income

Objective & Strategy

The fund seeks monthly income exempt from federal income tax by investing primarily in short-intermediate municipal securities that are investment grade at the time of purchase. The fund does not currently invest in securities which are subject to the federal alternative minimum tax.

Municipal Sweet Spot

A tax-free strategy seeking monthly income by investing in intermediate municipal bonds with the potential to deliver competitive yields with less risk compared to long-term bonds.

AMT-free   Reduced interest rate sensitivity   A hands-on team approach
The fund is managed in a tax-sensitive manner by avoiding bonds subject to the alternative minimum tax (AMT). This feature means that the fund's monthly dividends are fully federal tax-free, which makes it attractive to investors sensitive to taxes.   Intermediate term municipal bonds may represent the market's sweet spot since their shorter maturities makes them less sensitive to movements in interest rates than long-term municipal bonds. Their shorter maturities may lead to lower yields compared to longer term bonds.   The team believes that superior investment decisions over the longterm are facilitated by on site research of municipal projects. To conduct this research, three portfolio managers and eight analysts are strategically located throughout the country.
as of 06/30/2016

Morningstar Rating

Overall Rating - Muni National Short Category

As of 06/30/2016 the Fund had an overall rating of 5 stars out of 190 funds and was rated 4 stars out of 190 funds, 5 stars out of 175 funds and 5 stars out of 115 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. ©2016 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 06/30/2016

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
MIAMI-DADE CNTY FL WTR & SWR 5.000 10/01/2024 0.90
TEXAS ST MUNI GAS ACQUISITION & SPL 6.250 12/15/2026 0.74
TEXAS ST TRANS COMM 04/01/2032 0.72
NEW YORK ST DORM AUTH SALES TAX REV 5.000 03/15/2019 0.66
NEW YORK ST THRUWAY AUTH GEN REV 5.000 05/01/2019 0.64
MET PIER & EXPOSITION AUTH IL DEDIC 0.000 12/15/2032 0.56
NEVADA ST HIGHWAY IMPT REVENUE 5.000 12/01/2024 0.54

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

as of 06/30/2016 06/30/2016

Average Annual Returns (%)

Load (%)
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 10/31/2002 N/A 3.55 2.00 3.28 2.87 3.31 4.11
Load 10/31/2002 2.50 3.36 -0.51 0.74 2.02 2.79 3.84
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.

Had fees not been waived and/or expenses reimbursed currently or in the past, returns would have been lower.

as of 06/30/2016 06/30/2016

Annualized Benchmark Returns

Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
S&P Municipal Bond Investment Grade Short Intermediate IX 0.78 1.01 3.68 2.76 N/A N/A
S&P Municipal Bond Index 1.63 2.67 7.80 5.61 5.46 5.05
S&P Municipal Bond Investment Grade Short Intermediate IX 0.78 1.01 3.68 2.76 N/A N/A
S&P Municipal Bond Index 1.63 2.67 7.80 5.61 5.46 5.05

Source: FactSet Research Systems Inc.

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.24
12b-1 Fee 0.25
Other Expenses 0.12
Interest/Dividend Exp 0.00
Total Other Expenses 0.12
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.00
Total Annual Fund Operating Expenses 0.61
Contractual Waivers/Reimbursements N/A
Net Expenses - PER PROSPECTUS 0.61
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.61
This information is updated per the most recent prospectus.

Historical Prices

From   to
No history records found for this date range


From   to
    Capital Gains Reinvestment
Price ($)
Ex-Date Income Short Term Long Term
06/30/2016 0.0173 N/A N/A 11.62
05/31/2016 0.0173 N/A N/A 11.54
04/30/2016 0.0173 N/A N/A 11.57
03/31/2016 0.0192 N/A N/A 11.55
02/29/2016 0.0192 N/A N/A 11.57
01/31/2016 0.0192 N/A N/A 11.57
12/31/2015 0.0192 N/A N/A 11.50
11/30/2015 0.0208 N/A N/A 11.50
10/31/2015 0.0208 N/A N/A 11.52
09/30/2015 0.0208 N/A N/A 11.50
08/31/2015 0.0208 N/A N/A 11.49
07/31/2015 0.0208 N/A N/A 11.50
06/30/2015 0.0208 N/A N/A 11.48
05/31/2015 0.0208 N/A N/A 11.51
04/30/2015 0.0239 N/A N/A 11.56
03/31/2015 0.0239 N/A N/A 11.60
02/28/2015 0.0239 N/A N/A 11.62
01/31/2015 0.0239 N/A N/A 11.68
12/31/2014 0.0273 N/A N/A 11.60
11/30/2014 0.0273 N/A N/A 11.63
10/31/2014 0.0273 N/A N/A 11.64
09/30/2014 0.0273 N/A N/A 11.63
08/31/2014 0.0273 N/A N/A 11.65
07/31/2014 0.0273 N/A N/A 11.60
06/30/2014 0.0273 N/A N/A 11.62
05/31/2014 0.0273 N/A N/A 11.64
04/30/2014 0.0273 N/A N/A 11.58
03/31/2014 0.0273 N/A N/A 11.52
02/28/2014 0.0273 N/A N/A 11.59
01/31/2014 0.0273 N/A N/A 11.54
12/31/2013 0.0273 N/A N/A 11.43
11/30/2013 0.0273 N/A N/A 11.47
10/31/2013 0.0273 N/A N/A 11.52
09/30/2013 0.0273 N/A N/A 11.47
08/31/2013 0.0273 N/A N/A 11.34
07/31/2013 0.0273 N/A N/A 11.46
06/30/2013 0.0273 N/A N/A 11.50
05/31/2013 0.0273 N/A N/A 11.77
04/30/2013 0.0303 N/A N/A 11.91
03/31/2013 0.0303 N/A N/A 11.85
02/28/2013 0.0302 N/A N/A 11.91
01/31/2013 0.0310 N/A N/A 11.87
12/31/2012 0.0310 N/A N/A 11.86
11/30/2012 0.0310 N/A N/A 12.01
10/31/2012 0.0310 N/A N/A 11.88
09/30/2012 0.0310 N/A N/A 11.88
08/31/2012 0.0310 N/A N/A 11.85
07/31/2012 0.0310 N/A N/A 11.87
06/30/2012 0.0335 N/A N/A 11.77
05/31/2012 0.0335 N/A N/A 11.81
04/30/2012 0.0335 N/A N/A 11.78
03/31/2012 0.0335 N/A N/A 11.69
02/29/2012 0.0335 N/A N/A 11.81
01/31/2012 0.0335 N/A N/A 11.83
12/31/2011 0.0334 N/A N/A 11.68
11/30/2011 0.0334 N/A N/A 11.51
10/31/2011 0.0333 N/A N/A 11.45
09/30/2011 0.0333 N/A N/A 11.55
08/31/2011 0.0333 N/A N/A 11.54
07/31/2011 0.0333 N/A N/A 11.42
06/30/2011 0.0329 N/A N/A 11.35
05/31/2011 0.0305 N/A N/A 11.34
04/30/2011 0.0305 N/A N/A 11.18
03/31/2011 0.0305 N/A N/A 11.05
02/28/2011 0.0255 N/A N/A 11.12
01/31/2011 0.0254 N/A N/A 10.98
12/31/2010 0.0254 N/A N/A 11.09
11/30/2010 0.0254 N/A N/A 11.27
10/31/2010 0.0254 N/A N/A 11.46
09/30/2010 0.0254 N/A N/A 11.53
08/31/2010 0.0254 N/A N/A 11.58
07/31/2010 0.0254 N/A N/A 11.36
06/30/2010 0.0254 N/A N/A 11.23
05/31/2010 0.0254 N/A N/A 11.24
04/30/2010 0.0251 N/A N/A 11.18
03/31/2010 0.0256 N/A N/A 11.10
02/28/2010 0.0277 N/A N/A 11.19
01/31/2010 0.0277 N/A N/A 11.12
12/31/2009 0.0307 N/A N/A 11.08
11/30/2009 0.0307 N/A N/A 11.09
10/31/2009 0.0327 N/A N/A 11.01
09/30/2009 0.0341 N/A N/A 11.21
08/31/2009 0.0341 N/A N/A 10.97
07/31/2009 0.0342 N/A N/A 10.89
06/30/2009 0.0341 N/A N/A 10.80
05/31/2009 0.0342 N/A N/A 10.868
04/30/2009 0.0342 N/A N/A 10.806
03/31/2009 0.0341 N/A N/A 10.716
02/28/2009 0.0341 N/A N/A 10.706
01/31/2009 0.0341 N/A N/A 10.70
12/31/2008 0.0341 N/A N/A 10.469
12/12/2008 N/A N/A 0.0054 10.244
11/30/2008 0.0341 N/A N/A 10.367
10/31/2008 0.0339 N/A N/A 10.371
09/30/2008 0.0339 N/A N/A 10.42
08/31/2008 0.0339 N/A N/A 10.697
07/31/2008 0.0340 N/A N/A 10.642
06/30/2008 0.0339 N/A N/A 10.606
05/31/2008 0.0339 N/A N/A 10.682
04/30/2008 0.0349 N/A N/A 10.685
03/31/2008 0.0349 N/A N/A 10.703
02/29/2008 0.0309 N/A N/A 10.549
01/31/2008 0.0348 N/A N/A 10.81
12/31/2007 0.0373 N/A N/A 10.684
12/14/2007 N/A 0.0035 0.0737 10.675
11/30/2007 0.0348 N/A N/A 10.759
10/31/2007 0.0368 N/A N/A 10.725
09/30/2007 0.0368 N/A N/A 10.722
08/31/2007 0.0358 N/A N/A 10.69
07/31/2007 0.0364 N/A N/A 10.676
06/30/2007 0.0364 N/A N/A 10.652
05/31/2007 0.0364 N/A N/A 10.688
04/30/2007 0.0364 N/A N/A 10.738
03/31/2007 0.0364 N/A N/A 10.759
02/28/2007 0.0364 N/A N/A 10.772
01/31/2007 0.0364 N/A N/A 10.738
12/31/2006 0.0363 N/A N/A 10.784
12/15/2006 N/A N/A 0.0552 10.809
11/30/2006 0.0363 N/A N/A 10.884
10/31/2006 0.0389 N/A N/A 10.887
09/30/2006 0.0383 N/A N/A 10.898
08/31/2006 0.0383 N/A N/A 10.891
07/31/2006 0.0383 N/A N/A 10.852
06/30/2006 0.0383 N/A N/A 10.828
05/31/2006 0.0383 N/A N/A 10.891
04/30/2006 0.0383 N/A N/A 10.898
03/31/2006 0.0383 N/A N/A 10.924
02/28/2006 0.0383 N/A N/A 10.993
01/31/2006 0.0383 N/A N/A 11.018
12/31/2005 0.0383 N/A N/A 11.036
11/30/2005 0.0434 N/A N/A 11.029
10/31/2005 0.0434 N/A N/A 11.053
09/30/2005 0.0375 N/A N/A 11.132
08/31/2005 0.0375 N/A N/A 11.187
07/31/2005 0.0375 N/A N/A 11.178
06/30/2005 0.0375 N/A N/A 11.265
05/31/2005 0.0375 N/A N/A 11.259
04/30/2005 0.0375 N/A N/A 11.273
03/31/2005 0.0375 N/A N/A 11.212
02/28/2005 0.0375 N/A N/A 11.314
01/31/2005 0.0375 N/A N/A 11.404
12/31/2004 0.0360 N/A N/A 11.441
11/30/2004 0.0360 N/A N/A 11.396
10/31/2004 0.0360 N/A N/A 11.522
09/30/2004 0.0360 N/A N/A 11.507
08/31/2004 0.0360 N/A N/A 11.524
07/31/2004 0.0360 N/A N/A 11.399
06/30/2004 0.0360 N/A N/A 11.346
05/31/2004 0.0360 N/A N/A 11.364
04/30/2004 0.0360 N/A N/A 11.441
03/31/2004 0.0360 N/A N/A 11.687
02/29/2004 0.0360 N/A N/A 11.794
01/31/2004 0.0360 N/A N/A 11.699
12/31/2003 0.0360 N/A N/A 11.697
11/30/2003 0.0360 N/A N/A 11.669
10/31/2003 0.0360 N/A N/A 11.649
09/30/2003 0.0360 N/A N/A 11.757
08/31/2003 0.0360 N/A N/A 11.508
07/31/2003 0.0360 N/A N/A 11.462
06/30/2003 0.0360 N/A N/A 11.834
05/31/2003 0.0360 N/A N/A 11.918
04/30/2003 0.0360 N/A N/A 11.723
03/31/2003 0.0355 N/A N/A 11.702
02/28/2003 0.0355 N/A N/A 11.741
01/31/2003 0.0355 N/A N/A 11.633
12/31/2002 0.0342 N/A N/A 11.688
11/30/2002 0.0342 N/A N/A 11.491
10/31/2002 0.0000 N/A N/A 11.586
as of 06/30/2016

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: and select 'Understanding Ratings' under Rating Resources on the homepage; and select 'Rating Methodologies' under Research and Ratings on the homepage; and select 'Ratings Definitions' on the homepage.

as of 06/30/2016

Fund Characteristics

3-Year Alpha 0.20%
3-Year Beta 0.97
3-Year R-Squared 0.84
3-Year Sharpe Ratio 1.72
3-Year Standard Deviation 1.62
Number of Securities 883
Total Assets $2,551,938,084.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  S&P Municipal Bond Investment Grade Short Intermediate IX

as of 06/30/2016

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
MIAMI-DADE CNTY FL WTR & SWR 5.000 10/01/2024 0.90
TEXAS ST MUNI GAS ACQUISITION & SPL 6.250 12/15/2026 0.74
TEXAS ST TRANS COMM 04/01/2032 0.72
NEW YORK ST DORM AUTH SALES TAX REV 5.000 03/15/2019 0.66
NEW YORK ST THRUWAY AUTH GEN REV 5.000 05/01/2019 0.64
MET PIER & EXPOSITION AUTH IL DEDIC 0.000 12/15/2032 0.56
NEVADA ST HIGHWAY IMPT REVENUE 5.000 12/01/2024 0.54

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

as of 06/30/2016

Top Sectors

  % of Total Assets
Hospital 11.50
Water / Sewer 7.81
Brdg Tnl Tollroad 7.61
Special Tax District 7.17
Misc Revenues 6.89
Electric - Public 6.05
Lease Revenue & COP 5.14
IDR/PCR Utility 4.95
Prerefunded/ETM 4.68
College & Univ 4.56

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

Call Risk. If interest rates fall, it is possible that issuers of debt securities with high interest rates will prepay or call their securities before their maturity dates. In this event, the proceeds from the called securities would likely be reinvested by the Fund in securities bearing the new, lower interest rates, resulting in a possible decline in the Fund's income and distributions to shareholders.

Changing Fixed Income Market Conditions Risk. The current low interest rate environment was created in part by the Federal Reserve Board (FRB) and certain foreign central banks keeping the federal funds and equivalent foreign rates at or near zero. There is a risk that interest rates will rise when the FRB and central banks raise these rates. This risk is heightened due to the "tapering" of the FRB's quantitative easing program and other similar foreign central bank actions. This tapering and eventual increase in the federal funds and equivalent foreign rates may expose fixed income markets to heightened volatility and reduced liquidity for certain fixed income investments, particularly those with longer maturities. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies could also result in higher than normal shareholder redemptions, which could potentially increase portfolio turnover and the Fund's transaction costs.

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 value of a derivative instrument depends largely on (and is derived from) the value of an underlying security, currency, commodity, interest rate, index or other asset (each referred to as an underlying asset). In addition to risks relating to the underlying assets, the use of derivatives may include other, possibly greater, risks, including counterparty, leverage and liquidity risks. Counterparty risk is the risk that the counterparty to the derivative contract will default on its obligation to pay the Fund the amount owed or otherwise perform under the derivative contract. Derivatives create leverage risk because they do not require payment up front equal to the economic exposure created by owning the derivative. As a result, an adverse change in the value of the underlying asset could result in the Fund sustaining a loss that is substantially greater than the amount invested in the derivative, which may make the Fund's returns more volatile and increase the risk of loss. Derivative instruments may also be less liquid than more traditional investments and the Fund may be unable to sell or close out its derivative positions at a desirable time or price. This risk may be more acute under adverse market conditions, during which the Fund may be most in need of liquidating its derivative positions. Derivatives may also be harder to value, less tax efficient and subject to changing government regulation that could impact the Fund's ability to use certain derivatives or their cost. Also, derivatives used for hedging or to gain or limit exposure to a particular market segment may not provide the expected benefits, particularly during adverse market conditions.

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.

Income Risk. The income you receive from the Fund is based primarily on prevailing interest rates, which can vary widely over the short- and long-term. If interest rates drop, your income from the Fund may drop as well.

Intermediate Dollar-Weighted Average Life Risk. Market prices of municipal securities with intermediate lives generally fluctuate more in response to changes in interest rates than do market prices of municipal securities with shorter lives but generally fluctuate less than market prices of municipal securities with longer lives.

Inverse Floating Rate Obligations Risk. Inverse floating rate obligations, including tender option bonds, may be subject to greater price volatility than a fixed income security with similar qualities. When short-term interest rates rise, they may decrease in value and produce less or no income. Additionally, these securities may lose some or all of their principal and, in some cases, the Fund could lose money in excess of its investment. Similar to derivatives, inverse floating rate obligations have the following risks: counterparty, leverage, correlation, liquidity, market, interest rate, and management risks.

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.

Medium- and Lower-Grade Municipal Securities Risk. Securities which are in the medium- and lower-grade categories generally offer higher yields than are offered by higher-grade securities of similar maturity, but they also generally involve more volatility and greater risks, such as greater credit risk, market risk, liquidity risk, management risk, and regulatory risk. Furthermore, many medium- and lower-grade securities are not listed for trading on any national securities exchange and many issuers of mediumand lower-grade securities choose not to have a rating assigned to their obligations by any nationally recognized statistical rating organization. As a result, the Fund's portfolio may consist of a higher portion of unlisted or unrated securities as compared with an investment company that invests solely in higher-grade securities. Unrated securities are usually not as attractive to as many buyers as are rated securities, a factor which may make unrated securities less marketable. These factors may have the effect of limiting the availability of the securities for purchase by the Fund and may also limit the ability of the Fund to sell such securities at their fair value either to meet redemption requests or in response to changes in the economy or the financial markets. Investors should carefully consider the risks of owning shares of a Fund which invests in medium- and lower-grade municipal securities before investing in the Fund.

Municipal Issuer Focus Risk. The Fund generally considers investments in municipal securities not to be subject to industry concentration policies (issuers of municipal securities as a group is not an industry) and the Fund may invest in municipal securities issued by entities having similar characteristics. The issuers may be located in the same geographic area or may pay their interest obligations from revenue of similar projects, such as hospitals, airports, utility systems and housing finance agencies. This may make the Fund's investments more susceptible to similar social, economic, political or regulatory occurrences. As the similarity in issuers increases, the potential for fluctuation in the Fund's net asset value also increases.

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.

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.

Variable-Rate Demand Notes Risk. The absence of an active secondary market for certain variable and floating rate notes could make it difficult to dispose of the instruments, and the Fund could suffer a loss if the issuer defaults during periods in which the Fund is not entitled to exercise its demand rights.

When-Issued and Delayed Delivery Risks. When-issued and delayed delivery transactions are subject to market risk as the value or yield of a security at delivery may be more or less than the purchase price or the yield generally available on securities when delivery occurs. In addition, the Fund is subject to counterparty risk because it relies on the buyer or seller, as the case may be, to consummate the transaction, and failure by the other party to complete the transaction may result in the Fund missing the opportunity of obtaining a price or yield considered to be advantageous.

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. The higher yields and interest rates on pay-in-kind securities reflect the payment deferral and increased credit risk associated with such instruments and that such investments may represent a higher credit risk than coupon loans. Pay-in-kind securities may have a potential variability in valuations because their continuing accruals require continuing judgments about the collectability of the deferred payments and the value of any associated collateral.

as of 07/22/2016


NAV Change ($)
$11.60 0.00
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 07/22/2016


  • Distribution Yield
    with Sales Charge 1.74%
  • Distribution Yield
    without Sales Charge 1.79%
  • SEC 30-Day Yield 0.79%
  • Unsub. 30-Day Yield N/A

Fund Details

  • Distribution Frequency Monthly
  • WSJ Abrev. TF Int
  • CUSIP 001419803
  • Fund Type Fixed Income
  • Geography Type Domestic
  • Inception Date 10/31/2002
  • Fiscal Year End 02/28
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 4920
  • Tax ID 76-6035958