Mutual Funds

Invesco Core Plus Bond Fund

Fixed Income | US Fixed Income

Objective & Strategy

The fund's investment objective is total return comprised of current income and capital appreciation.

Quality is key to a strong core

An actively-managed, high-quality bond strategy that seeks to deliver income, growth potential and serve as a complement in your overall portfolio.

Explore High-Conviction Investing with Invesco

Weathering the market's ups and downs

One of the benefits of having higher-quality bonds in your portfolio is the protection they have historically provided during times of stock market turmoil.

Historically, when stocks have gone down, high-quality bonds have gone up. This relationship is important because it may have the potential to help investors' portfolios weather rough markets. This is what's known as diversification. Of course, diversification does not ensure a profit or protect against loss.

High-quality bonds have risen when stocks have fallen

Sources: Sources: StyleADVISOR. Data as of Dec. 31, 2016. Bonds are represented by Bloomberg Barclays U.S. Aggregate Bond Index and Stocks are represented by S&P 500 Index. Returns shown are average 12-month calendar year-end. Past performance cannot guarantee future results.

Index definitions
Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index considered representative of the US investment-grade, fixed-rate bond market. An investment cannot be made directly in an index.

High-quality core portfolio plus higher-yielding bonds

The fund's high-quality holdings of investment grade government, corporate and mortgage-backed securities are designed to provide consistent income and preserve principal. At least 80% of the portfolio must be allocated to investment-grade bonds. Our portfolio managers and research analysts then seek out what they believe to be the best opportunities from high yield and foreign bond markets to add additional income.

The fund invests mostly in investment grade bonds and adds lower rated bonds to add income and growth potential

["22%", "40%"]
[ ['AAA',41.69], ['AA',3.70], ['A',9.10], ['BBB',30.50], ['BB',10.70], ['B',3.00], ['CCC and below',0.80], ['Cash',0.41] ]

Source: Source: Invesco. Standard & Poor's, Moody's or Fitch, as applicable. All data as of Dec. 31, 2016. Percentages are a percent of market value and may not equal 100% due to rounding. Holdings are subject to change are not buy/sell recommendtations. An investment cannot be made directly in and index.

Important information on credit ratings
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. If securities are rated differently by the rating agencies, the higher rating is applied. Not Rated indicates the debtor was not rated and should not be interpreted as indicating low quality. A negative in Cash indicates fund activity that has accrued or is pending settlement. For more information on the rating methodology, please visit 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.

Greater potential for growth opportunities and diversification

While potentially offering greater income opportunities, selecting from a wider range of bond investments, compared to a traditional bond portfolio, may also help grow an investor's capital. Our investment teams scour the globe for ideas to generate growth for our clients, while carefully monitoring risk.

No single fixed-income sector consistently outperforms over time

Best to worst chart color legend

Annual returns %

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
10.57 20.06 58.21 15.12 17.15 17.92 7.44 10.72 1.51 17.13
9.76 10.23 34.66 12.30 8.15 15.81 -1.41 7.46 1.23 9.69
6.97 8.34 18.68 9.00 7.84 9.82 -1.53 6.08 0.91 6.11
6.90 5.24 5.93 7.90 6.33 4.22 -2.02 5.97 0.55 2.65
4.56 -4.94 5.89 6.54 6.23 4.18 -3.23 5.01 -0.68 1.67
4.16 -14.68 2.63 5.90 6.02 2.59 -4.30 2.45 -3.29 1.65
1.87 -26.16 -9.71 5.37 4.98 1.83 -7.83 -0.79 -4.47 -0.16

Sources: StyleADVISOR, Lipper Inc. as of Dec. 31, 2016. Annual total returns. 10-Year US Treasury represented by BofA Merrill Lynch Current 10-Year U.S. Treasury Index, investment grade by Bloomberg Barclays U.S. Corporate Index, mortgage-backed securities by Bloomberg Barclays U.S. Mortgage-backed Securities Index, high yield by Bloomberg Barclays U.S. Corporate High Yield Index, global governments by Bloomberg Barclays Global Treasury Index, emerging markets by Bloomberg Barclays Emerging Markets Hard Currency Index (hedged USD) and Bloomberg Barclays Aggregate by Bloomberg Barclays U.S. Aggregate Index. Past performance is not a guarantee of future results. An investment cannot be made directly in an index. Performance does not represent any Invesco fund.

Index definitions
10-Year U.S. Treasury Index is a debt obligation issued by the United States government that matures in 10 years. A 10-year Treasury note pays interest at a fixed rate once every six months and pays the face value to the holder at maturity. An advantage of investing in 10-year Treasury notes, and other federal government securities, is that the interest payments are exempt from state and local income tax. However, they are still taxable at the federal level. Bloomberg Barclays U.S. Investment Grade Corporate Index is an unmanaged index consisting of publicly issued US Corporate and specified foreign debentures and secured notes that are rated investment grade (Baa3/BBB- or higher) by at least two ratings agencies, have at least one year to final maturity and have at least $250 million par amount outstanding. Bloomberg Barclays U.S. Mortgage Backed Securities Index represents mortgage-backed pass-through securities of Ginnie Mae, Fannie Mae and Freddie Mac. Bloomberg Barclays U.S. Corporate High Yield Index is an unmanaged index considered representative of fixed-rate, noninvestment-grade debt. Bloomberg Barclays Global Treasury Index tracks fixed-rate, local currency government debt of investment grade countries, including both developed and emerging markets. Bloomberg Barclays Emerging Markets Hard Currency Aggregate Index is composed of USD-, euro- and GBP-denominated debt from sovereign, quasi-sovereign, and corporate emerging markets issuers and is considered representative of hard currency emerging markets debt. Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index considered representative of the US investment-grade, fixed-rate bond market. An investment cannot be made directly in an index.
as of 03/31/2017

Morningstar Rating

Overall Rating - Intermediate-Term Bond Category

As of 03/31/2017 the Fund had an overall rating of 5 stars out of 851 funds and was rated 5 stars out of 851 funds, 5 stars out of 750 funds and N/A stars out of 538 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, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2017 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. 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. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.

Management team

as of 03/31/2017

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
U.S. TREASURY N B 2.875 11/15/2046 4.58
U.S. TREASURY NOTES 1.875 02/28/2022 4.42
FHLMC TBA 3.5% 04/01/2047 3.500 04/01/2047 3.32
G2SF TBA 3.00% 04-01-2047 3.000 04/01/2047 2.22
U.S. TREASURY NOTES 2.125 02/29/2024 1.96
U.S. TREASURY N B 2.250 02/15/2027 1.70
FNCL TBA 4.00% 04-01-47 4.000 04/01/2047 1.68
AERCAP GLOBAL AVIATION T 144A 6.500 06/15/2045 1.64
FNCI TBA 2.5 04/01/2032 2.500 04/01/2032 1.52
US TREASURY NOTE 1.625 03/15/2020 1.35

May not equal 100% due to rounding.

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

as of 03/31/2017 03/31/2017

Average Annual Returns (%)

Load (%)
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 06/03/2009 N/A 4.99 1.28 3.72 3.57 3.70 N/A
Load 06/03/2009 4.25 4.42 -2.98 -0.65 2.07 2.82 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 03/31/2017 03/31/2017

Annualized Benchmark Returns

Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Bloomberg Barclays US Aggregate -0.05 0.82 0.44 2.68 2.34 4.27
Bloomberg Barclays US Aggregate -0.05 0.82 0.44 2.68 2.34 4.27
Bloomberg Barclays US Aggregate -0.05 0.82 0.44 2.68 2.34 4.27
Bloomberg Barclays US Aggregate -0.05 0.82 0.44 2.68 2.34 4.27

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 0.43
12b-1 Fee 0.25
Other Expenses 0.25
Interest/Dividend Exp 0.00
Total Other Expenses 0.25
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.02
Total Annual Fund Operating Expenses 0.95
Contractual Waivers/Reimbursements -0.20
Net Expenses - PER PROSPECTUS 0.75
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.75
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
04/30/2017 0.0260 N/A N/A 10.84
03/31/2017 0.0260 N/A N/A 10.76
02/28/2017 0.0260 N/A N/A 10.79
01/31/2017 0.0251 N/A N/A 10.71
12/31/2016 0.0296 N/A N/A 10.70
12/13/2016 N/A 0.0072 0.0079 10.65
11/30/2016 0.0250 N/A N/A 10.68
10/31/2016 0.0254 N/A N/A 10.95
09/30/2016 0.0254 N/A N/A 11.02
08/31/2016 0.0261 N/A N/A 11.05
07/31/2016 0.0280 N/A N/A 11.06
06/30/2016 0.0280 N/A N/A 10.96
05/31/2016 0.0280 N/A N/A 10.79
04/30/2016 0.0280 N/A N/A 10.82
03/31/2016 0.0294 N/A N/A 10.70
02/29/2016 0.0293 N/A N/A 10.55
01/31/2016 0.0293 N/A N/A 10.55
12/31/2015 0.0293 N/A N/A 10.52
11/30/2015 0.0293 N/A N/A 10.60
10/31/2015 0.0293 N/A N/A 10.66
09/30/2015 0.0293 N/A N/A 10.62
08/31/2015 0.0293 N/A N/A 10.63
07/31/2015 0.0293 N/A N/A 10.72
06/30/2015 0.0293 N/A N/A 10.71
05/31/2015 0.0338 N/A N/A 10.91
04/30/2015 0.0338 N/A N/A 10.98
03/31/2015 0.0338 N/A N/A 11.03
02/28/2015 0.0338 N/A N/A 11.01
01/31/2015 0.0338 N/A N/A 11.08
12/31/2014 0.0338 N/A N/A 10.86
11/30/2014 0.0338 N/A N/A 10.90
10/31/2014 0.0338 N/A N/A 10.87
09/30/2014 0.0338 N/A N/A 10.82
08/31/2014 0.0338 N/A N/A 10.92
07/31/2014 0.0364 N/A N/A 10.85
06/30/2014 0.0364 N/A N/A 10.90
05/31/2014 0.0403 N/A N/A 10.90
04/30/2014 0.0403 N/A N/A 10.80
03/31/2014 0.0403 N/A N/A 10.74
02/28/2014 0.0403 N/A N/A 10.75
01/31/2014 0.0378 N/A N/A 10.67
12/31/2013 0.0571 N/A N/A 10.57
11/30/2013 0.0378 N/A N/A 10.63
10/31/2013 0.0278 N/A N/A 10.70
09/30/2013 0.0278 N/A N/A 10.54
08/31/2013 0.0278 N/A N/A 10.41
07/31/2013 0.0278 N/A N/A 10.53
06/30/2013 0.0278 N/A N/A 10.54
05/31/2013 0.0278 N/A N/A 10.81
04/30/2013 0.0278 N/A N/A 11.03
03/31/2013 0.0278 N/A N/A 10.93
02/28/2013 0.0278 N/A N/A 10.94
01/31/2013 0.0278 N/A N/A 10.92
12/31/2012 0.0278 N/A N/A 10.99
11/30/2012 0.0278 N/A N/A 11.00
10/31/2012 0.0303 N/A N/A 11.02
09/30/2012 0.0303 N/A N/A 10.99
08/31/2012 0.0303 N/A N/A 10.95
07/31/2012 0.0353 N/A N/A 10.94
06/30/2012 0.0378 N/A N/A 10.78
05/31/2012 0.0378 N/A N/A 10.77
04/30/2012 0.0378 N/A N/A 10.77
03/31/2012 0.0378 N/A N/A 10.70
02/29/2012 0.0378 N/A N/A 10.76
01/31/2012 0.0378 N/A N/A 10.71
12/31/2011 0.0378 N/A N/A 10.57
12/09/2011 N/A 0.0132 0.0056 10.51
11/30/2011 0.0378 N/A N/A 10.48
10/31/2011 0.0378 N/A N/A 10.60
09/30/2011 0.0378 N/A N/A 10.53
08/31/2011 0.0378 N/A N/A 10.60
07/31/2011 0.0378 N/A N/A 10.63
06/30/2011 0.0228 N/A N/A 10.53
05/31/2011 0.0228 N/A N/A 10.60
04/30/2011 0.0228 N/A N/A 10.51
03/31/2011 0.0203 N/A N/A 10.39
02/28/2011 0.0203 N/A N/A 10.41
01/31/2011 0.0203 N/A N/A 10.40
12/31/2010 0.0522 N/A N/A 10.39
12/03/2010 N/A 0.1145 0.0368 10.47
11/30/2010 0.0203 N/A N/A 10.69
10/31/2010 0.0203 N/A N/A 10.77
09/30/2010 0.0218 N/A N/A 10.74
08/31/2010 0.0308 N/A N/A 10.75
07/31/2010 0.0313 N/A N/A 10.65
06/30/2010 0.0353 N/A N/A 10.54
05/31/2010 0.0373 N/A N/A 10.41
04/30/2010 0.0258 N/A N/A 10.45
03/31/2010 0.0249 N/A N/A 10.35
02/28/2010 0.0248 N/A N/A 10.37
01/31/2010 0.0289 N/A N/A 10.36
12/31/2009 0.0998 N/A N/A 10.22
12/11/2009 N/A 0.0745 N/A 10.33
11/30/2009 0.0628 N/A N/A 10.48
10/31/2009 0.0399 N/A N/A 10.43
09/30/2009 0.0464 N/A N/A 10.39
08/31/2009 0.0514 N/A N/A 10.29
07/31/2009 0.0079 N/A N/A 10.24
06/30/2009 0.0079 N/A N/A 10.00
as of 03/31/2017

Fund Characteristics

3-Year Alpha 0.99%
3-Year Beta 0.95
3-Year R-Squared 0.82
3-Year Sharpe Ratio 1.10
3-Year Standard Deviation 3.10
Number of Securities 903
Total Assets $2,677,521,772.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Bloomberg Barclays US Aggregate

as of 03/31/2017

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
U.S. TREASURY N B 2.875 11/15/2046 4.58
U.S. TREASURY NOTES 1.875 02/28/2022 4.42
FHLMC TBA 3.5% 04/01/2047 3.500 04/01/2047 3.32
G2SF TBA 3.00% 04-01-2047 3.000 04/01/2047 2.22
U.S. TREASURY NOTES 2.125 02/29/2024 1.96
U.S. TREASURY N B 2.250 02/15/2027 1.70
FNCL TBA 4.00% 04-01-47 4.000 04/01/2047 1.68
AERCAP GLOBAL AVIATION T 144A 6.500 06/15/2045 1.64
FNCI TBA 2.5 04/01/2032 2.500 04/01/2032 1.52
US TREASURY NOTE 1.625 03/15/2020 1.35

May not equal 100% due to rounding.

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

 About risk

Active Trading Risk. Active trading of portfolio securities may result in added expenses, a lower return and increased tax liability.

Changing Fixed Income Market Conditions Risk. The current historically 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 completion of the FRB's quantitative easing program and the “tapering” of other similar foreign central bank actions. This 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. CLOs are subject to the risks of substantial losses due to actual defaults by underlying borrowers, which will be greater during periods of economic or financial stress. CLOs may also lose value due to collateral defaults and disappearance of subordinate tranches, market anticipation of defaults, and investor aversion to CLO securities as a class. The risks of CLOs will be greater if the Fund invests in CLOs that hold loans of uncreditworthy borrowers or if the Fund holds subordinate tranches of the CLO that absorbs losses from the defaults before senior tranches. In addition, CLOs are subject to interest rate risk and credit risk.

Debt Securities Risk. The prices of debt securities held by the Fund will be affected by changes in interest rates, the creditworthiness of the issuer and other factors. An increase in prevailing interest rates typically causes the value of existing debt securities to fall and often has a greater impact on longer-duration debt securities and higher quality debt securities. Falling interest rates will cause the Fund to reinvest the proceeds of debt securities that have been repaid by the issuer at lower interest rates. Falling interest rates may also reduce the Fund's distributable income because interest payments on floating rate debt instruments held by the Fund will decline. The Fund could lose money on investments in debt securities if the issuer or borrower fails to meet its obligations to make interest payments and/or to repay principal in a timely manner. Changes in an issuer's financial strength, the market's perception of such strength or in the credit rating of the issuer or the security may affect the value of debt securities. The Adviser's credit analysis may fail to anticipate such changes, which could result in buying a debt security at an inopportune time or failing to sell a debt security in advance of a price decline or other credit event.

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.

Emerging Markets Securities Risk. Emerging markets (also referred to as developing markets) are generally subject to greater market volatility, political, social and economic instability, uncertain trading markets and more governmental limitations on foreign investment than more developed markets. In addition, companies operating in emerging markets may be subject to lower trading volume and greater price fluctuations than companies in more developed markets. Securities law and the enforcement of systems of taxation in many emerging market countries may change quickly and unpredictably. In addition, investments in emerging markets securities may also be subject to additional transaction costs, delays in settlement procedures, and lack of timely information.

Foreign Securities Risk. The Fund's foreign investments may be adversely affected by political and social instability, changes in economic or taxation policies, difficulty in enforcing obligations, decreased liquidity or increased volatility. Foreign investments also involve the risk of the possible seizure, nationalization or expropriation of the issuer or foreign deposits (in which the Fund could lose its entire investments in a certain market) and the possible adoption of foreign governmental restrictions such as exchange controls. Unless the Fund has hedged its foreign securities risk, foreign securities risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. Currency hedging strategies, if used, are not always successful.

High Yield Debt Securities (Junk Bond) Risk. Investments in high yield debt securities (“junk bonds”) and other lower-rated securities will subject the Fund to substantial risk of loss. These securities are considered to be speculative with respect to the issuer's ability to pay interest and principal when due, are more susceptible to default or decline in market value and are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile.

Liquidity Risk. The Fund may be unable to sell illiquid investments at the time or price it desires and, as a result, could lose its entire investment in such investments. Liquid securities can become illiquid during periods of market stress. If a significant amount of the Fund's securities become illiquid, the Fund may not be able to timely pay redemption proceeds and may need to sell securities at significantly reduced prices.

Management Risk. The Fund is actively managed and depends heavily on the Adviser's judgment about markets, interest rates or the attractiveness, relative values, liquidity, or potential appreciation of particular investments made for the Fund's portfolio. The Fund could experience losses if these judgments prove to be incorrect. Additionally, legislative, regulatory, or tax developments may adversely affect management of the Fund and, therefore, the ability of the Fund to achieve its investment objective.

Market Risk. The market values of the Fund's investments, and therefore the value of the Fund's shares, will go up and down, sometimes rapidly or unpredictably. Market risk may affect a single issuer, industry or section of the economy, or it may affect the market as a whole. Individual stock prices tend to go up and down more dramatically than those of certain other types of investments, such as bonds. During a general downturn in the financial markets, multiple asset classes may decline in value. When markets perform well, there can be no assurance that specific investments held by the Fund will rise in value.

Mortgage- and Asset-Backed Securities Risk. Mortgage- and asset-backed securities, including collateralized debt obligations and collateralized mortgage obligations, are subject to prepayment or call risk, which is the risk that a borrower's payments may be received earlier or later than expected due to changes in prepayment rates on underlying loans. This could result in the Fund reinvesting these early payments at lower interest rates, thereby reducing the Fund's income. Mortgage- and asset-backed securities also are subject to extension risk, which is the risk that an unexpected rise in interest rates could reduce the rate of prepayments, causing the price of the mortgage- and asset-backed securities and the Fund's share price to fall. 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 Fund may invest in mortgage pools that include subprime mortgages, which are loans made to borrowers with weakened credit histories or with lower capacity to make timely payments on their mortgages. Privately issued mortgage-related securities are not subject to the same underwriting requirements as those with government or government-sponsored entity guarantee and, therefore, mortgage loans underlying privately issued mortgage-related securities may have less favorable collateral, credit risk or other underwriting characteristics, and wider variances in interest rate, term, size, purpose and borrower characteristics.

Municipal Securities Risk. The risk of a municipal obligation generally depends on the financial and credit status of the issuer. 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 the security. 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.

TBA Transactions Risk. TBA transactions involve the risk of loss if the securities received are less favorable than what was anticipated by the Fund when entering into the TBA transaction, or if the counterparty fails to deliver the securities. When the Fund enters into a short sale of a TBA mortgage it does not own, the Fund may have to purchase deliverable mortgages to settle the short sale at a higher price than anticipated, thereby causing a loss. As there is no limit on how much the price of mortgage securities can increase, the Fund's exposure is unlimited. The Fund may not always be able to purchase mortgage securities to close out the short position at a particular time or at an acceptable price. In addition, taking short positions results in a form of leverage, which could increase the volatility of the Fund's share price.

U.S. Government Obligations Risk. Obligations of U.S. Government agencies and authorities receive varying levels of support and may not be backed by the full faith and credit of the U.S. Government, which could affect the Fund's ability to recover should they default. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so.

When-Issued, Delayed Delivery and Forward Commitment Risks. When-issued and delayed delivery transactions subject the Fund to market risk because the value or yield of a security at delivery may be more or less than the purchase price or yield generally available when delivery occurs, and counterparty risk because the Fund relies on the buyer or seller, as the case may be, to consummate the transaction. These transactions also have a leveraging effect on the Fund because the Fund commits to purchase securities that it does not have to pay for until a later date, which increases the Fund's overall investment exposure and, as a result, its volatility.

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 loans that periodically pay interest.

as of 04/28/2017


NAV Change ($)
$10.84 0.01
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 04/28/2017


  • Distribution Yield
    with Sales Charge 2.76%
  • Distribution Yield
    without Sales Charge 2.88%
  • SEC 30-Day Yield 2.83%
  • Unsub. 30-day yield 2.63%

Fund Details

  • Distribution Frequency Monthly
  • WSJ Abrev. N/A
  • CUSIP 00141A529
  • Fund Type Fixed Income
  • Geography Type Taxable
  • Inception Date 06/03/2009
  • Fiscal Year End 08/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1541
  • Tax ID 26-4471610