Mutual Funds

Invesco American Value Fund

Equity | US Equity

Objective & Strategy

The fund seeks total return through growth of capital and current income.

Overlooked and Undervalued

A specialized strategy for building wealth and managing volatility. The fund seeks ownership in primarily mid-sized companies that are undervalued and experiencing a positive change.

A familiar team   A familiar process   An unfamiliar asset class
The team draws upon a wealth of knowledge that can only come with time. The team uses the same process to manage Invesco Equity and Income Fund and Invesco Growth and Income Fund and has been managing this fund since 2003.   The team uses a classic approach that seeks to convert business change into investment opportunity — be it new company management, new products or favorable industry trends.   Between the blue-chip giants and the small start-ups there lies a class of companies that is too often overlooked — mid-sized companies.

Mid-sized companies may offer investors additional diversification benefits and return potential.1


1 The market movements of stocks of small-cap companies may be more abrupt and volatile than the market movements of stocks of larger, more established companies or the stock market in general, and small-cap companies, in particular, are generally less liquid than stocks of larger companies. Large-cap companies, compared to small and mid-cap companies, tend to have more diversified business models, lower costs of capital and lower price fluctuations. Small- and mid-cap companies often have less predictable earnings, and more limited product lines, markets, distribution channels or financial resources.
Diversification does not guarantee a profit or eliminate the risk of loss.

Style Map

Invesco American Value Fund

The map illustrates areas in which the fund can invest, not necessarily within a limited period of time.

as of 10/31/2015

Morningstar Rating

Overall Rating - Mid-Cap Value Category

As of 10/31/2015 the Fund had an overall rating of 3 stars out of 423 funds and was rated 2 stars out of 423 funds, 3 stars out of 366 funds and 3 stars out of 249 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 10/31/2015

Top Equity Holdings | View all

% of Total Assets

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

as of 10/31/2015 09/30/2015

Average Annual Returns (%)

Load (%)
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 10/18/1993 N/A 9.64 -3.40 -1.18 13.13 12.51 8.53
Load 10/18/1993 5.50 9.36 -8.71 -6.61 11.02 11.25 7.91
Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Investment return and principal value will vary so that you may have a gain or a loss when you sell shares.

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

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

as of 10/31/2015 09/30/2015

Annualized Benchmark Returns

Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Russell Midcap Value IX 6.10 -2.29 0.47 15.92 13.64 8.39
S&P 500 Reinvested IX 8.44 -0.63 5.20 16.20 14.33 7.85
Russell Midcap Value IX -3.34 -8.04 -2.07 13.69 13.15 7.42
S&P 500 Reinvested IX -2.47 -6.44 -0.61 12.40 13.34 6.80

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 0.68
12b-1 Fee 0.25
Other Expenses 0.27
Interest/Dividend Exp 0.00
Total Other Expenses 0.27
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.09
Total Annual Fund Operating Expenses 1.29
Contractual Waivers/Reimbursements -0.01
Net Expenses - PER PROSPECTUS 1.28
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 1.28
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
06/18/2015 0.0086 N/A N/A 41.68
12/12/2014 0.0009 0.4590 3.4220 37.66
09/18/2014 0.0079 N/A N/A 42.97
06/19/2014 0.0134 N/A N/A 42.59
03/20/2014 0.0134 N/A N/A 40.42
12/13/2013 0.0134 0.2869 2.4560 37.96
09/19/2013 0.0476 N/A N/A 39.61
06/20/2013 0.0476 N/A N/A 36.15
03/21/2013 0.0476 N/A N/A 35.29
12/07/2012 0.0476 N/A N/A 31.38
09/20/2012 0.0467 N/A N/A 31.33
06/14/2012 0.0210 N/A N/A 29.05
03/15/2012 0.0210 N/A N/A 30.79
12/09/2011 0.0210 N/A N/A 26.74
09/15/2011 0.0210 N/A N/A 25.09
06/16/2011 0.0210 N/A N/A 27.93
03/17/2011 0.0184 N/A N/A 28.10
12/03/2010 0.0184 N/A N/A 26.35
09/16/2010 0.0004 N/A N/A 23.66
06/09/2010 0.0092 N/A N/A 22.62
03/10/2010 0.0350 N/A N/A 23.78
12/11/2007 0.0350 3.0622 2.2733 28.19
09/12/2007 0.0350 N/A N/A 33.32
06/13/2007 0.0350 N/A N/A 34.56
12/13/2006 0.0677 0.0000 1.5884 31.06
12/13/2000 N/A 1.5838 N/A 18.94
as of 10/31/2015

Sector Breakdown

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 10/31/2015

Asset Mix

as of 10/31/2015

Fund Characteristics

3-Year Alpha -2.39%
3-Year Beta 1.00
3-Year R-Squared 0.87
3-Year Sharpe Ratio 1.15
3-Year Standard Deviation 11.36
Number of Securities 49
Total Assets $2,193,459,551.00
Wghtd Med Mkt Cap MM$ $7,157.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Russell Midcap Value IX

as of 10/31/2015

Top Equity Holdings | View all

% of Total Assets

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

as of 10/31/2015

Top Industries

  % of Total Assets
Regional Banks 6.27
Insurance Brokers 6.06
Health Care Facilities 5.87
Auto Parts & Equipment 5.22
Building Products 4.93
Aerospace & Defense 4.32
Application Software 3.96
Oil & Gas Equipment & Services 3.64
Real Estate Operating Companies 2.84
Packaged Foods & Meats 2.81

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

Depositary Receipts Risk. Investing in depositary receipts involves the same risks as direct investments in foreign securities. In addition, the underlying issuers of certain depositary receipts are under no obligation to distribute shareholder communications or pass through any voting rights with respect to the deposited securities to the holders of such receipts. The Fund may therefore receive less timely information or have less control than if it invested directly in the foreign issuer.

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.

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.

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.

REIT Risk/Real Estate Risk. Investments in real estate related instruments may be affected by economic, legal, cultural, environmental or technological factors that affect property values, rents or occupancies of real estate related to the Fund's holdings. Shares of real estate related companies, which tend to be small- and mid-cap companies, may be more volatile and less liquid than larger companies. If a real estate related company defaults, the Fund may own real estate directly, which involves additional risks such as environmental liabilities; difficulty in valuing and selling the real estate; and economic or regulatory changes.

Small- and Mid-Capitalization Risks. Small- and mid-capitalization companies tend to be more vulnerable to changing market conditions, may have little or no operating history or track record of success, and may have more limited product lines and markets, less experienced management and fewer financial resources than larger companies. These companies' securities may be more volatile and less liquid than those of more established companies, and their returns may vary, sometimes significantly, from the overall securities market.

Value Investing Style Risk. A value investing style subjects the Fund to the risk that the valuations never improve or that the returns on value equity securities are less than returns on other styles of investing or the overall stock market.

as of 11/25/2015


NAV Change ($)
$37.77 0.07
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 11/25/2015


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

Fund Details

  • Distribution Frequency Annually
  • WSJ Abrev. AmValA
  • CUSIP 00143M844
  • Fund Type Equity
  • Geography Type N/A
  • Inception Date 10/18/1993
  • Fiscal Year End 04/30
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1734
  • Tax ID 13-3709508