Mutual Funds

Invesco International Total Return Fund

Fixed Income | International and Global Fixed Income

Objective & Strategy

The fund seeks total return, comprised of current income and capital appreciation.

as of 05/31/2015

Morningstar Rating

Overall Rating - World Bond Category

As of 05/31/2015 the Fund had an overall rating of 2 stars out of 309 funds and was rated 1 stars out of 309 funds, 2 stars out of 229 funds and N/A stars out of N/A 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 05/31/2015

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
BUONI POLIENNALI DEL TES 0.000 03/01/2025 8.02
REPUBLIC OF POLAND 0.000 11/08/2017 6.17
UK TSY 5% 2025 0.000 03/07/2025 5.13
PROVINCE OF ONTARIO 0.000 06/02/2045 4.90
NEW ZEALAND GOVERNMENT 0.000 05/15/2021 4.90
BONOS Y OBLIG DEL REGS 0.000 04/30/2025 4.85
JAPAN 122 20 YEAR ISSUE 0.000 09/20/2030 3.53
KFW 0.000 02/16/2026 2.68
NETHERLANDS GOVT 0.000 01/15/2028 2.57
ASIAN DEVELOPMENT BANK 0.000 06/21/2027 2.42

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

as of 05/31/2015 03/31/2015

Average Annual Returns (%)

  Incept.
Date
Max
Load (%)
Since
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 03/31/2006 N/A 3.33 -3.99 -9.71 -1.35 2.39 N/A
Load 03/31/2006 4.25 2.84 -8.10 -13.57 -2.78 1.50 N/A
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 06/30/2015 06/30/2015

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Barclays Global Aggregate ex US IX 0.09 -0.83 -13.19 -2.83 1.08 2.83
Barclays Global Aggregate ex US IX 0.09 -0.83 -13.19 -2.83 1.08 2.83
Barclays Global Aggregate ex US IX 0.09 -0.83 -13.19 -2.83 1.08 2.83
Barclays Global Aggregate ex US IX 0.09 -0.83 -13.19 -2.83 1.08 2.83

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 0.65
12b-1 Fee 0.25
Other Expenses 0.78
Interest/Dividend Exp 0.00
Total Other Expenses 0.78
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.00
Total Annual Fund Operating Expenses 1.68
Contractual Waivers/Reimbursements -0.58
Net Expenses - PER PROSPECTUS 1.10
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 1.10
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
06/18/2015 0.0290 N/A N/A 9.90
03/19/2015 0.0290 N/A N/A 9.98
12/12/2014 0.0290 0.1413 N/A 10.39
09/18/2014 0.0288 N/A N/A 10.81
06/19/2014 0.0288 N/A N/A 11.18
03/20/2014 0.0288 N/A N/A 10.99
12/13/2013 0.0288 0.0345 0.1867 10.78
09/19/2013 0.0200 N/A N/A 10.82
06/20/2013 0.0290 N/A N/A 10.64
03/21/2013 0.0290 N/A N/A 10.75
12/07/2012 0.0290 N/A N/A 11.31
09/20/2012 0.0234 N/A 0.0057 11.40
06/14/2012 0.0237 N/A 0.0054 10.94
03/15/2012 0.0391 N/A N/A 10.71
12/09/2011 0.4026 0.0518 0.0715 10.85
09/15/2011 0.0476 N/A N/A 11.73
06/16/2011 0.0476 N/A N/A 11.52
03/17/2011 0.0560 N/A N/A 11.24
12/03/2010 0.4274 0.1760 0.1816 10.91
09/16/2010 0.0387 N/A N/A 11.50
06/17/2010 0.0393 N/A N/A 10.79
03/18/2010 0.0388 N/A N/A 11.43
12/11/2009 0.0454 N/A N/A 11.78
09/18/2009 0.0380 N/A N/A 11.51
06/19/2009 0.0383 N/A N/A 10.62
03/20/2009 0.0387 N/A N/A 10.50
12/12/2008 0.0367 N/A N/A 10.52
09/18/2008 0.0483 N/A N/A 10.65
06/18/2008 0.0500 N/A N/A 10.92
03/18/2008 0.0478 N/A N/A 11.77
12/14/2007 0.4158 N/A N/A 10.695
09/20/2007 0.0533 N/A N/A 10.842
06/20/2007 0.0535 N/A N/A 10.284
03/20/2007 0.0533 N/A N/A 10.584
12/31/2006 0.0308 N/A N/A 10.473
11/30/2006 0.0129 N/A N/A 10.69
09/30/2006 0.0342 N/A N/A 10.336
08/31/2006 0.0342 N/A N/A 10.455
07/31/2006 0.0342 N/A N/A 10.419
06/30/2006 0.0341 N/A N/A 10.375
05/31/2006 0.0192 N/A N/A 10.526
04/30/2006 0.0167 N/A N/A 10.388
as of 05/31/2015

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 05/31/2015

Fund Characteristics

3-Year Alpha 1.01%
3-Year Beta 0.90
3-Year R-Squared 0.95
3-Year Sharpe Ratio -0.26
3-Year Standard Deviation 5.35
Number of Securities 88
Total Assets $53,252,435.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Barclays Global Aggregate ex US IX

as of 05/31/2015

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
BUONI POLIENNALI DEL TES 0.000 03/01/2025 8.02
REPUBLIC OF POLAND 0.000 11/08/2017 6.17
UK TSY 5% 2025 0.000 03/07/2025 5.13
PROVINCE OF ONTARIO 0.000 06/02/2045 4.90
NEW ZEALAND GOVERNMENT 0.000 05/15/2021 4.90
BONOS Y OBLIG DEL REGS 0.000 04/30/2025 4.85
JAPAN 122 20 YEAR ISSUE 0.000 09/20/2030 3.53
KFW 0.000 02/16/2026 2.68
NETHERLANDS GOVT 0.000 01/15/2028 2.57
ASIAN DEVELOPMENT BANK 0.000 06/21/2027 2.42

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

as of 05/31/2015

Top Industries

  % of Total Assets
Sovereign Debt 60.44
Diversified Banks 11.71
CMOs 3.58
Specialized Finance 2.42
Other Diversified Financial Services 2.13
Electric Utilities 1.87
Integrated Oil & Gas 1.83
Multi-Utilities 1.41
Integrated Telecommunication Services 1.30
Diversified Chemicals 1.10

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.

as of 05/31/2015

Top Countries

  % of Total Assets
United Kingdom 16.33
Japan 16.09
Poland 6.58
Netherlands 6.02
Italy 4.96
New Zealand 4.90
Spain 4.85
Germany 4.73
Korea, Republic Of 3.57
Portugal 3.05

 About risk

Active Trading Risk. The Fund engages in frequent trading of portfolio securities. Active trading results in added expenses and may result in a lower return and increased tax liability.

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.

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 the Fund's 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 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.

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 Currency Tax Risk. If the U. S. Treasury Department were to exercise its authority to issue regulations that exclude from the definition of "qualifying income" foreign currency gains not directly related to the Fund's business of investing in securities, the Fund may be unable to qualify as a regulated investment company for one or more years. In this event, the Fund's Board of Trustees may authorize a significant change in investment strategy or Fund liquidation.

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.

Sovereign Debt Risk. Investments in foreign sovereign debt obligations involve certain risks in addition to those relating to foreign securities or debt securities generally. The issuer of the debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due in accordance with the terms of such debt, and the Fund may have limited recourse in the event of a default against the defaulting government. Without the approval of debt holders, some governmental debtors have in the past been able to reschedule or restructure their debt payments or declare moratoria on payments.

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 07/02/2015

AUBAX

NAV Change ($)
$9.69 -0.02
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 07/02/2015

Yield 

  • Distribution Yield
    with Sales Charge 1.15%
  • Distribution Yield
    without Sales Charge 1.20%
  • SEC 30-Day Yield 1.35%
  • Unsub. 30-Day Yield 0.77%

Fund Details

  • Distribution Frequency Quarterly
  • NASDAQ AUBAX
  • WSJ Abrev. N/A
  • CUSIP 00141V507
  • Fund Type Fixed Income
  • Geography Type International
  • Inception Date 03/31/2006
  • Fiscal Year End 10/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1552
  • Tax ID 20-4281824

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