Mutual Funds

Invesco Short Term Bond Fund

Fixed Income | US Fixed Income

Monthly Income

An actively managed, short-term bond strategy for investors seeking monthly income, limited interest rate risk and total return opportunities.

Strength of Invesco Fixed Income   A focus on quality   Monthly income
More than 30 years experience managing fixed income assets, with more than 160 investment professionals, and more than $238 billion in assets for investors worldwide. 1   A strategy focused on high-quality, income generating government, corporate and mortgage-backed bonds.   Monthly income provided by an actively managed, well-diversified, short maturity fixed-income strategy.


Footnote(s)

1 As of March 31, 2014.

Objective & Strategy

The fund seeks to achieve total return, comprised of current income and capital appreciation by investing in a diversified portfolio of investment-grade, fixed-income securities with a weighted average effective maturity and effective duration of less than three years.

as of 02/28/2015

Morningstar Rating

Overall Rating - Short-Term Bond Category

As of 02/28/2015 the Fund had an overall rating of 2 stars out of 448 funds and was rated 3 stars out of 448 funds, 2 stars out of 385 funds and 1 stars out of 273 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
U.S. TREASURY NOTES 0.500 01/31/2017 7.79
U.S. TREASURY NOTES 1.000 02/15/2018 2.51
VERIZON COMMUNICATIONS 2.500 09/15/2016 1.58
U.S. TREASURY NOTES 1.250 01/31/2020 1.54
MSC 2006 HQ9 AJ 5.793 07/12/2044 1.18
BRANCH BANKING TRUST 2.300 10/15/2018 1.15
KINDER MORGAN FINANCE 144A 6.000 01/15/2018 1.14
ALIBABA GROUP HOLDING 144A 1.625 11/28/2017 1.13
ACTAVIS FUNDING SCS 1.300 06/15/2017 1.11
BANK OF AMERICA CORP 1.350 11/21/2016 1.10

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 04/30/2004 N/A 2.09 0.75 1.24 1.82 2.03 2.11
Load 04/30/2004 2.50 1.85 -1.76 -1.26 0.97 1.52 1.85
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 02/28/2015 12/31/2014

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Barclays 1-3 Yr Govt/Cred Tr -0.16 0.10 0.80 0.89 1.28 2.91
Barclays US Aggregate TR -0.94 1.23 5.05 2.76 4.29 4.82
Barclays 1-3 Yr Govt/Cred Tr -0.26 0.17 0.77 0.89 1.41 2.85
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 0.34
12b-1 Fee 0.15
Other Expenses 0.18
Interest/Dividend Exp 0.00
Total Other Expenses 0.18
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.01
Total Annual Fund Operating Expenses 0.68
Contractual Waivers/Reimbursements -0.01
Net Expenses - PER PROSPECTUS 0.67
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.67
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 0.0121 N/A N/A 8.65
01/31/2015 0.0122 N/A N/A 8.65
12/31/2014 0.0332 N/A N/A 8.61
11/30/2014 0.0122 N/A N/A 8.67
10/31/2014 0.0121 N/A N/A 8.68
09/30/2014 0.0121 N/A N/A 8.67
08/31/2014 0.0121 N/A N/A 8.69
07/31/2014 0.0121 N/A N/A 8.69
06/30/2014 0.0121 N/A N/A 8.71
05/31/2014 0.0121 N/A N/A 8.72
04/30/2014 0.0121 N/A N/A 8.71
03/31/2014 0.0121 N/A N/A 8.70
02/28/2014 0.0122 N/A N/A 8.71
01/31/2014 0.0122 N/A N/A 8.70
12/31/2013 0.0143 N/A N/A 8.69
11/30/2013 0.0121 N/A N/A 8.70
10/31/2013 0.0121 N/A N/A 8.68
09/30/2013 0.0121 N/A N/A 8.66
08/31/2013 0.0121 N/A N/A 8.64
07/31/2013 0.0122 N/A N/A 8.66
06/30/2013 0.0121 N/A N/A 8.65
05/31/2013 0.0121 N/A N/A 8.72
04/30/2013 0.0121 N/A N/A 8.76
03/31/2013 0.0121 N/A N/A 8.74
02/28/2013 0.0135 N/A N/A 8.75
01/31/2013 0.0155 N/A N/A 8.74
12/31/2012 0.0185 N/A N/A 8.74
11/30/2012 0.0155 N/A N/A 8.75
10/31/2012 0.0155 N/A N/A 8.77
09/30/2012 0.0155 N/A N/A 8.76
08/31/2012 0.0154 N/A N/A 8.74
07/31/2012 0.0154 N/A N/A 8.72
06/30/2012 0.0154 N/A N/A 8.67
05/31/2012 0.0154 N/A N/A 8.67
04/30/2012 0.0154 N/A N/A 8.69
03/31/2012 0.0154 N/A N/A 8.68
02/29/2012 0.0154 N/A N/A 8.68
01/31/2012 0.0153 N/A N/A 8.64
12/31/2011 0.0175 N/A N/A 8.57
11/30/2011 0.0154 N/A N/A 8.55
10/31/2011 0.0174 N/A N/A 8.61
09/30/2011 0.0174 N/A N/A 8.57
08/31/2011 0.0174 N/A N/A 8.64
07/31/2011 0.0167 N/A N/A 8.72
06/30/2011 0.0167 N/A N/A 8.70
05/31/2011 0.0167 N/A N/A 8.73
04/30/2011 0.0167 N/A N/A 8.73
03/31/2011 0.0157 N/A N/A 8.70
02/28/2011 0.0157 N/A N/A 8.72
01/31/2011 0.0157 N/A N/A 8.71
12/31/2010 0.0240 N/A N/A 8.69
11/30/2010 0.0152 N/A N/A 8.73
10/31/2010 0.0152 N/A N/A 8.77
09/30/2010 0.0152 N/A N/A 8.74
08/31/2010 0.0167 N/A N/A 8.72
07/31/2010 0.0177 N/A N/A 8.72
06/30/2010 0.0177 N/A N/A 8.69
05/31/2010 0.0177 N/A N/A 8.67
04/30/2010 0.0177 N/A N/A 8.71
03/31/2010 0.0177 N/A N/A 8.69
02/28/2010 0.0177 N/A N/A 8.68
01/31/2010 0.0197 N/A N/A 8.69
12/31/2009 0.0222 N/A N/A 8.63
11/30/2009 0.0187 N/A N/A 8.66
10/31/2009 0.0272 N/A N/A 8.63
09/30/2009 0.0327 N/A N/A 8.59
08/31/2009 0.0307 N/A N/A 8.58
07/31/2009 0.0267 N/A N/A 8.55
06/30/2009 0.0282 N/A N/A 8.46
05/31/2009 0.0368 N/A N/A 8.455
04/30/2009 0.0368 N/A N/A 8.383
03/31/2009 0.0306 N/A N/A 8.299
02/28/2009 0.0305 N/A N/A 8.347
01/31/2009 0.0338 N/A N/A 8.442
12/31/2008 0.0378 N/A N/A 8.59
11/30/2008 0.0602 N/A N/A 8.632
10/31/2008 0.0631 N/A N/A 8.651
09/30/2008 0.0680 N/A N/A 8.852
08/31/2008 0.0555 N/A N/A 9.429
07/31/2008 0.0535 N/A N/A 9.485
06/30/2008 0.0515 N/A N/A 9.526
05/31/2008 0.0515 N/A N/A 9.573
04/30/2008 0.0400 N/A N/A 9.568
03/31/2008 0.0425 N/A N/A 9.541
02/29/2008 0.0424 N/A N/A 9.582
01/31/2008 0.0524 N/A N/A 9.641
12/31/2007 0.0471 N/A N/A 9.656
11/30/2007 0.0544 N/A N/A 9.651
10/31/2007 0.0544 N/A N/A 9.716
09/30/2007 0.0429 N/A N/A 9.719
08/31/2007 0.0400 N/A N/A 9.709
07/31/2007 0.0463 N/A N/A 9.751
06/30/2007 0.0428 N/A N/A 9.767
05/31/2007 0.0428 N/A N/A 9.786
04/30/2007 0.0408 N/A N/A 9.826
03/31/2007 0.0408 N/A N/A 9.833
02/28/2007 0.0397 N/A N/A 9.834
01/31/2007 0.0397 N/A N/A 9.799
12/31/2006 0.0547 N/A N/A 9.806
11/30/2006 0.0397 N/A N/A 9.841
10/31/2006 0.0427 N/A N/A 9.831
09/30/2006 0.0427 N/A N/A 9.841
08/31/2006 0.0427 N/A N/A 9.829
07/31/2006 0.0427 N/A N/A 9.805
06/30/2006 0.0402 N/A N/A 9.78
05/31/2006 0.0352 N/A N/A 9.792
04/30/2006 0.0352 N/A N/A 9.815
03/31/2006 0.0352 N/A N/A 9.827
02/28/2006 0.0317 N/A N/A 9.859
01/31/2006 0.0317 N/A N/A 9.87
12/31/2005 0.0437 N/A N/A 9.874
11/30/2005 0.0358 N/A N/A 9.874
10/31/2005 0.0278 N/A N/A 9.878
09/30/2005 0.0278 N/A N/A 9.917
08/31/2005 0.0273 N/A N/A 9.958
07/31/2005 0.0273 N/A N/A 9.931
06/30/2005 0.0270 N/A N/A 9.966
05/31/2005 0.0255 N/A N/A 9.965
04/30/2005 0.0255 N/A N/A 9.958
03/31/2005 0.0245 N/A N/A 9.919
02/28/2005 0.0225 N/A N/A 9.947
01/31/2005 0.0229 N/A N/A 9.975
12/31/2004 0.0229 N/A N/A 9.993
11/30/2004 0.0239 N/A N/A 9.999
10/31/2004 0.0240 N/A N/A 10.038
09/30/2004 0.0240 N/A N/A 10.037
08/31/2004 0.0220 N/A N/A 10.056
07/31/2004 0.0220 N/A N/A 10.015
06/30/2004 0.0220 N/A N/A 9.993
05/31/2004 0.0220 N/A N/A 9.992
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 0.68%
3-Year Beta 1.29
3-Year R-Squared 0.61
3-Year Sharpe Ratio 1.92
3-Year Standard Deviation 0.92
Number of Securities 381
Total Assets $887,712,719.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Barclays 1-3 Yr Govt/Cred Tr

as of 02/28/2015

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
U.S. TREASURY NOTES 0.500 01/31/2017 7.79
U.S. TREASURY NOTES 1.000 02/15/2018 2.51
VERIZON COMMUNICATIONS 2.500 09/15/2016 1.58
U.S. TREASURY NOTES 1.250 01/31/2020 1.54
MSC 2006 HQ9 AJ 5.793 07/12/2044 1.18
BRANCH BANKING TRUST 2.300 10/15/2018 1.15
KINDER MORGAN FINANCE 144A 6.000 01/15/2018 1.14
ALIBABA GROUP HOLDING 144A 1.625 11/28/2017 1.13
ACTAVIS FUNDING SCS 1.300 06/15/2017 1.11
BANK OF AMERICA CORP 1.350 11/21/2016 1.10

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

as of 02/28/2015

Top Industries

  % of Total Assets
CMOs 17.07
Diversified Banks 7.75
ABS - Loans 4.43
Pharmaceuticals 4.22
Automobile Manufacturers 4.01
Regional Banks 3.98
CMBS Conduit 2.67
Investment Banking & Brokerage 2.48
Life & Health Insurance 2.13
Packaged Foods & Meats 2.11

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

Diversification does not guarantee a profit or eliminate the risk of loss.

Effective duration is the managers' estimate of a bond fund's price sensitivity to changes in interest rates. This measure takes into account mortgage prepayments, puts, adjustable coupons and potential call dates. Weighted average effective maturity is the managers' estimate of the length of time the average security in a bond fund will mature or be redeemed by its issuer. This measure takes into account mortgage prepayments, puts, adjustable coupons and potential call dates.

Active Trading Risk. Active trading results in added expenses and may result in a lower return and increased tax liability.

Changing Fixed Income Market Conditions Risk. There is a risk that the Federal Reserve Board (FRB) and central banks may raise the federal funds and equivalent foreign rates. This risk is heightened due to the potential "tapering" of the FRB's quantitative easing program and other similar foreign central bank actions, which may expose fixed income investments to heightened volatility and reduced liquidity, particularly those with longer maturities. As a result, the value of the fund's investments and share price may decline. Changes in central bank policies could also increase shareholder redemptions, which may increase portfolio turnover and fund transaction costs.

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.

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.

Currency/Exchange Rate Risk. The dollar value of foreign investments will be affected by changes in the exchange rates between the dollar and the currencies in which those investments are traded.

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.

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.

TBA Transactions Risk. TBA transactions involve the risk that the securities received may be less favorable than what was anticipated by the Fund when entering into the TBA transaction. TBA transactions also involve the risk that a counterparty will fail to deliver the securities, exposing the Fund to further losses. Whether or not the Fund takes delivery of the securities at the termination date of a TBA transaction, the Fund will nonetheless be exposed to changes in the value of the underlying investments during the term of the agreement.

U.S. Government Obligations Risk. The Fund may invest in obligations issued by U.S. Government agencies and instrumentalities that may receive varying levels of support from the government, which could affect the Fund's ability to recover should they default.

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.

as of 03/30/2015

STBAX

NAV Change ($)
$8.65 0.00
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 03/30/2015

Yield 

  • Distribution Yield
    with Sales Charge 1.70%
  • Distribution Yield
    without Sales Charge 1.75%
  • SEC 30-Day Yield 1.6%
  • Unsub. 30-Day Yield 1.59%

Fund Details

  • Distribution Frequency Monthly
  • NASDAQ STBAX
  • WSJ Abrev. ShortTerm
  • CUSIP 00142C433
  • Fund Type Fixed Income
  • Geography Type Domestic
  • Inception Date 04/30/2004
  • Fiscal Year End 02/28
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1524
  • Tax ID 46-0487975

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