Mutual Funds

Invesco Comstock Fund

Equity | US Equity

Objective & Strategy

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

Diamonds in the rough

An actively managed strategy that aims to build wealth over time. The fund seeks to outperform by making early and patient investments in large companies whose true value isn't recognized by the market.

Experience our high-conviction approach

Competitive returns

A history of adding value

Since manager inception, the fund’s Class A shares has delivered higher returns than its benchmark on a cumulative basis, 261% versus 214% and on an annualized basis, 7.47% versus 6.63%.1

Contrarian approach

A focus on diversification through contrarian investing

The team's high-conviction, contrarian approach is designed to uncover undervalued companies during market downturns, setting the fund apart from its benchmark, and providing portfolio diversification aiming to participate in market upswings.

20 years of adding value

A $10,000 investment in the fund at NAV would have delivered $51,275, beating its benchmarks for the 20-year period shown through June 30, 2017.

Sources: Invesco, Lipper Inc., StyleADVISOR. Returns for Class A shares reflect the reinvestment of distributions, but does not include sales charges, which would have reduced the performance. Inflection points shaded in gray include: Jan. 1, 1999, through Dec. 31, 2000 — dot.com bubble, Jan. 1, 2001, through Dec. 31, 2002 — technology and telecommunications bubble, Jan. 1, 2008, through Dec. 31, 2008 — commodity bubble and the great recession, and Jan. 1, 2014, through Dec. 31, 2015 — overwhelming global macro volatility. Underweight and Overweight exposures are shown for educational and illustrative purposes only. Broad benchmark represented by the S&P 500 Index and the style benchmark represented by the Russell 1000 Value Index. Past performance is no guarantee of comparable future results. An investment cannot be made directly in an index.

For standardized fund performance, visit the fund’s performance page.

Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Visit invesco.com for the most recent month end performance. Performance figures reflect reinvested distributions and changes in net asset value (NAV). Performance shown at NAV does not include applicable front-end sales charge (max 5.50%). If sales charges had been reflected, performance would be lower. Investment return and principal value will vary so that you may have a gain or a loss when you sell shares. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower.
Additional information

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

1 Sources: Invesco, FactSet Research Systems, Inc., Lipper Inc. Cumulative performance since manager inception on Aug. 31, 1999. Benchmark is the Russell 1000 Value Index. Information shown is for the fund's Class A shares at NAV. If sales charges had been included, performance would have been lower.

Style Map

Invesco Comstock Fund

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

as of 08/31/2017

Morningstar Rating

Overall Rating - Large Value Category

As of 08/31/2017 the Fund had an overall rating of 3 stars out of 1099 funds and was rated 2 stars out of 1099 funds, 3 stars out of 942 funds and 3 stars out of 678 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 08/31/2017

Top Equity Holdings | View all

% of Total Assets
CITIGROUP INC 5.98
BANK OF AMERICA CORP 4.53
JPMORGAN CHASE & CO 3.46
CISCO SYSTEMS INC 2.75
SUNCOR ENERGY INC 2.41
MORGAN STANLEY 2.09
ROYAL DUTCH SHELL A ADR 2.06
PNC FINANCIAL SERVICES GROUP 2.06
GENERAL MOTORS CO 2.03
PFIZER INC 1.95

May not equal 100% due to rounding.

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

as of 08/31/2017 06/30/2017

Average Annual Returns (%)

  Incept.
Date
Max
Load (%)
Since
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 10/07/1968 N/A 10.85 4.23 15.04 4.99 12.59 6.14
Load 10/07/1968 5.50 10.72 -1.51 8.73 3.02 11.33 5.54
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 08/31/2017 06/30/2017

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Russell 1000 Value IX Tr -1.16 1.79 11.58 6.74 13.25 5.96
S&P 500 Reinvested IX 0.31 3.01 16.23 9.54 14.34 7.61
Russell 1000 Value IX Tr 1.63 1.34 15.53 7.36 13.94 5.57
S&P 500 Reinvested IX 0.62 3.09 17.90 9.61 14.63 7.18

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 0.38
12b-1 Fee 0.25
Other Expenses 0.21
Interest/Dividend Exp 0.00
Total Other Expenses 0.21
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.00
Total Annual Fund Operating Expenses 0.84
Contractual Waivers/Reimbursements N/A
Net Expenses - PER PROSPECTUS 0.84
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.84
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
09/14/2017 0.0995 N/A N/A 24.90
06/15/2017 0.0995 N/A N/A 24.12
03/16/2017 0.0995 N/A N/A 24.43
12/13/2016 0.1964 0.1386 1.2160 24.06
09/15/2016 0.0995 N/A N/A 22.45
06/16/2016 0.0995 N/A N/A 21.24
03/17/2016 0.0995 N/A N/A 21.14
12/11/2015 0.0995 0.0386 1.9291 21.35
09/17/2015 0.0793 N/A N/A 23.67
06/18/2015 0.0793 N/A N/A 26.18
03/19/2015 0.0793 N/A N/A 25.49
12/12/2014 0.1847 N/A N/A 24.57
09/18/2014 0.0798 N/A N/A 25.87
06/19/2014 0.0700 N/A N/A 25.17
03/20/2014 0.0700 N/A N/A 23.99
12/13/2013 0.0700 N/A N/A 22.77
09/19/2013 0.0700 N/A N/A 22.04
06/20/2013 0.0700 N/A N/A 20.46
03/21/2013 0.0700 N/A N/A 19.55
12/07/2012 0.0700 N/A N/A 17.53
09/20/2012 0.0656 N/A N/A 17.66
06/14/2012 0.0656 N/A N/A 15.96
03/15/2012 0.0600 N/A N/A 17.09
12/09/2011 0.0528 N/A N/A 15.13
09/15/2011 0.0528 N/A N/A 14.71
06/16/2011 0.0528 N/A N/A 15.77
03/17/2011 0.0528 N/A N/A 15.96
12/03/2010 0.0528 N/A N/A 15.22
09/16/2010 0.0528 N/A N/A 14.06
06/09/2010 0.0524 N/A N/A 13.12
03/10/2010 0.0515 N/A N/A 14.23
12/09/2009 0.0315 0.0000 N/A 13.61
09/09/2009 0.0315 N/A N/A 12.93
06/10/2009 0.0525 N/A N/A 11.21
03/11/2009 0.0625 N/A N/A 8.33
12/10/2008 0.0725 0.0000 0.0000 10.57
09/10/2008 0.0725 0.0000 N/A 14.96
06/11/2008 0.0800 0.0000 N/A 15.19
03/12/2008 0.0900 0.0115 0.1416 15.66
12/11/2007 0.0900 0.0628 0.8918 17.94
09/12/2007 0.0900 0.0000 N/A 19.31
06/13/2007 0.0900 0.0000 N/A 20.29
03/14/2007 0.0950 0.0146 0.1098 18.70
12/13/2006 0.0950 0.0128 0.4577 19.05
09/13/2006 0.0950 0.0000 N/A 18.47
06/14/2006 0.0950 0.0000 N/A 17.34
03/15/2006 0.0950 0.0566 0.4204 17.95
12/14/2005 0.0849 0.1588 0.9930 17.99
09/14/2005 0.0825 N/A N/A 18.41
06/15/2005 0.0825 N/A N/A 18.38
03/16/2005 0.0725 N/A 0.0045 18.27
12/08/2004 0.0575 N/A N/A 17.91
09/15/2004 0.0575 N/A N/A 16.77
06/16/2004 0.0575 N/A N/A 16.43
03/17/2004 0.0475 N/A N/A 16.42
12/10/2003 0.0475 N/A N/A 15.11
09/17/2003 0.0475 N/A N/A 14.49
06/18/2003 0.0475 N/A N/A 14.25
03/19/2003 0.0422 N/A N/A 12.03
12/11/2002 0.0422 N/A N/A 12.50
09/18/2002 0.0422 N/A N/A 11.80
06/19/2002 0.0422 N/A N/A 14.13
03/20/2002 0.0422 0.0714 0.0728 15.98
12/12/2001 0.0470 0.3453 0.3438 15.44
09/19/2001 0.0540 N/A N/A 15.14
06/20/2001 0.0625 N/A N/A 17.61
03/21/2001 0.0625 0.1743 0.1317 16.15
12/13/2000 0.1233 0.2839 0.7838 16.40
09/20/2000 0.0625 N/A N/A 15.39
06/21/2000 0.0625 N/A N/A 14.75
03/22/2000 0.0625 0.2967 0.2888 13.61
12/13/1999 0.1020 0.5951 0.6321 14.40
09/20/1999 0.0625 N/A N/A 16.03
06/21/1999 0.0625 N/A N/A 17.54
03/22/1999 0.0625 0.2277 0.1933 15.96
12/09/1998 0.0925 0.6755 1.2698 16.07
09/21/1998 0.0625 N/A N/A 15.96
06/22/1998 0.0625 N/A N/A 16.90
03/23/1998 0.0625 0.3258 0.4016 17.30
12/22/1997 0.0625 1.2934 0.2799 15.91
09/22/1997 0.0625 N/A N/A 18.05
06/23/1997 0.0625 N/A N/A 16.00
03/14/1997 0.0625 0.2404 0.2139 14.85
12/16/1996 0.0625 1.1540 0.9725 14.33
09/16/1996 0.0625 N/A N/A 15.72
06/14/1996 0.0625 N/A N/A 15.31
03/15/1996 0.0675 0.3270 0.1380 14.91
12/15/1995 0.0675 1.1850 0.4750 14.51
09/15/1995 0.0675 N/A N/A 15.50
06/15/1995 0.0675 N/A N/A 14.25
03/15/1995 0.0675 0.0175 0.2850 13.10
12/15/1994 0.1200 N/A 2.9000 12.26
09/15/1994 0.0675 N/A N/A 16.10
06/15/1994 0.0675 N/A N/A 15.96
03/15/1994 0.0675 N/A 0.1475 16.40
12/15/1993 0.0950 N/A 1.8675 16.05
09/15/1993 0.0675 N/A N/A 18.13
06/15/1993 0.0675 N/A N/A 17.31
03/15/1993 0.0675 N/A 0.2550 17.64
12/15/1992 0.3200 N/A 0.9825 17.10
04/01/1992 0.0075 N/A 0.0350 16.89
12/16/1991 0.3875 N/A N/A 16.15
04/01/1991 0.0075 N/A N/A 15.95
12/14/1990 0.4575 N/A N/A 14.17
04/02/1990 0.0175 N/A N/A 14.71
12/15/1989 0.5400 N/A N/A 15.11
12/15/1988 0.3500 N/A N/A 12.88
09/15/1988 0.0150 N/A N/A 12.97
04/01/1987 0.3725 N/A N/A 17.00
12/05/1986 0.0000 N/A N/A 15.20
04/01/1986 0.3825 N/A N/A 15.75
04/01/1985 0.5500 N/A N/A 13.34
04/02/1984 0.4600 N/A N/A 13.00
04/04/1983 0.5400 N/A N/A 13.15
05/01/1981 0.5100 N/A N/A 11.53
05/01/1979 0.3000 N/A N/A 8.23
05/30/1978 0.0100 N/A N/A 7.14
01/03/1978 0.2100 N/A N/A 6.25
05/16/1977 0.1600 N/A N/A 5.88
04/26/1976 0.1000 N/A N/A 5.44
05/12/1975 0.1000 N/A N/A 4.21
04/15/1974 0.0800 N/A N/A 3.49
04/13/1973 0.0400 N/A N/A 3.57
06/23/1972 0.1000 N/A N/A 4.56
04/03/1970 0.1300 N/A N/A 4.81
03/14/1969 0.0300 N/A N/A 5.73
as of 08/31/2017

Sector Breakdown

May not equal 100% due to rounding.

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 08/31/2017

Fund Characteristics

3-Year Alpha N/A
3-Year Beta N/A
3-Year R-Squared N/A
Number of Securities 75
Total Assets $11,831,789,098.00
Wghtd Med Mkt Cap MM$ $66,931.00

Source: FactSet Research Systems Inc., StyleADVISOR

as of 08/31/2017

Top Equity Holdings | View all

% of Total Assets
CITIGROUP INC 5.98
BANK OF AMERICA CORP 4.53
JPMORGAN CHASE & CO 3.46
CISCO SYSTEMS INC 2.75
SUNCOR ENERGY INC 2.41
MORGAN STANLEY 2.09
ROYAL DUTCH SHELL A ADR 2.06
PNC FINANCIAL SERVICES GROUP 2.06
GENERAL MOTORS CO 2.03
PFIZER INC 1.95

May not equal 100% due to rounding.

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

as of 08/31/2017

Top Industries

  % of Total Assets
Diversified Banks 16.21
Integrated Oil & Gas 8.70
Pharmaceuticals 6.68
Regional Banks 5.39
Oil & Gas Exploration & Production 4.45
Investment Banking & Brokerage 3.19
Biotechnology 3.01
Asset Management & Custody Banks 2.96
Communications Equipment 2.75
Semiconductors 2.60

May not equal 100% due to rounding.

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.

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.

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.

Sector Focus Risk. The Fund may from time to time invest a significant amount of its assets (i.e. over 25%) in one market sector or group of related industries. In this event, the Fund’s performance will depend to a greater extent on the overall condition of the sector or group of industries and there is increased risk that the Fund will lose significant value if conditions adversely affect that sector or group of industries.

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 09/19/2017

ACSTX

NAV Change ($)
$25.14 0.09
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 09/19/2017

Yield 

  • Distribution Yield
    with Sales Charge 1.50%
  • Distribution Yield
    without Sales Charge 1.58%
  • SEC 30-Day Yield 1.52%
  • Unsub. 30-day yield N/A

Fund Details

  • Distribution Frequency Quarterly
  • NASDAQ ACSTX
  • WSJ Abrev. CmstA
  • CUSIP 00143M711
  • Fund Type Equity
  • Geography Type Domestic
  • Inception Date 10/07/1968
  • Fiscal Year End 04/30
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1737
  • Tax ID 95-2513084