Mutual Funds

Invesco Corporate Bond Fund

Fixed Income | US Fixed Income

Objective & Strategy

The fund seeks current income with preservation of capital by investing primarily in corporate debt securities. Under normal market conditions, between 65% and 100% of the fund’s total assets are invested in investment-grade securities. Capital appreciation is a secondary objective that is sought only when consistent with the fund’s primary investment objective.

as of 05/31/2015

Morningstar Rating

Overall Rating - Corporate Bond Category

As of 05/31/2015 the Fund had an overall rating of 3 stars out of 152 funds and was rated 3 stars out of 152 funds, 3 stars out of 133 funds and 3 stars out of 91 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
U.S. TREASURY NOTES 1.375 04/30/2020 3.26
U.S. TREASURY NOTES 2.125 05/15/2025 1.37
ROSS STORES INC 3.375 09/15/2024 0.97
TECK RESOURCES LTD 4.500 01/15/2021 0.95
WELLS FARGO & COMPANY 5.375 11/02/2043 0.84
MOODYS CORPORATION 4.875 02/15/2024 0.79
AMERICAN FINANCIAL GROUP 9.875 06/15/2019 0.79
VERIZON COMMUNICATIONS 144A 4.522 09/15/2048 0.78
NATIONWIDE FINANCIAL SER 144A 5.375 03/25/2021 0.75
CNA FINANCIAL CORP 7.350 11/15/2019 0.73

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 09/23/1971 N/A 7.34 1.57 2.91 5.06 6.51 5.57
Load 09/23/1971 4.25 7.23 -2.71 -1.51 3.56 5.59 5.11
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 05/31/2015

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Barclays US Cr IX Tr -0.58 -0.81 2.81 3.78 5.71 5.39
Barclays US Cr IX Tr -0.58 -0.81 2.81 3.78 5.71 5.39
N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A

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 0.39
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) 0.00
Total Annual Fund Operating Expenses 0.91
Contractual Waivers/Reimbursements N/A
Net Expenses - PER PROSPECTUS 0.91
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.91
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
06/30/2015 0.0218 N/A N/A 7.12
05/29/2015 0.0218 N/A N/A 7.28
04/30/2015 0.0218 N/A N/A 7.34
03/31/2015 0.0238 N/A N/A 7.39
02/27/2015 0.0238 N/A N/A 7.39
01/30/2015 0.0238 N/A N/A 7.45
12/31/2014 0.0238 N/A N/A 7.28
11/28/2014 0.0238 N/A N/A 7.32
10/31/2014 0.0238 N/A N/A 7.30
09/30/2014 0.0238 N/A N/A 7.26
08/29/2014 0.0238 N/A N/A 7.41
07/31/2014 0.0238 N/A N/A 7.32
06/30/2014 0.0238 N/A N/A 7.36
05/30/2014 0.0238 N/A N/A 7.35
04/30/2014 0.0238 N/A N/A 7.27
03/31/2014 0.0238 N/A N/A 7.20
02/28/2014 0.0238 N/A N/A 7.21
01/31/2014 0.0238 N/A N/A 7.12
12/31/2013 0.0229 N/A N/A 7.01
11/29/2013 0.0229 N/A N/A 7.03
10/31/2013 0.0229 N/A N/A 7.06
09/30/2013 0.0229 N/A N/A 6.94
08/30/2013 0.0229 N/A N/A 6.87
07/31/2013 0.0229 N/A N/A 6.98
06/28/2013 0.0229 N/A N/A 6.94
05/31/2013 0.0229 N/A N/A 7.18
04/30/2013 0.0229 N/A N/A 7.36
03/28/2013 0.0229 N/A N/A 7.25
02/28/2013 0.0229 N/A N/A 7.26
01/31/2013 0.0229 N/A N/A 7.23
12/31/2012 0.0229 N/A N/A 7.29
11/30/2012 0.0250 N/A N/A 7.30
10/31/2012 0.0250 N/A N/A 7.32
09/28/2012 0.0252 N/A N/A 7.26
08/31/2012 0.0250 N/A N/A 7.22
07/31/2012 0.0250 N/A N/A 7.22
06/29/2012 0.0250 N/A N/A 7.06
05/31/2012 0.0250 N/A N/A 7.06
04/30/2012 0.0250 N/A N/A 7.04
03/30/2012 0.0250 N/A N/A 6.97
02/29/2012 0.0250 N/A N/A 7.03
01/31/2012 0.0250 N/A N/A 6.97
12/30/2011 0.0249 N/A N/A 6.82
11/30/2011 0.0250 N/A N/A 6.71
10/31/2011 0.0250 N/A N/A 6.86
09/30/2011 0.0250 N/A N/A 6.77
08/31/2011 0.0250 N/A N/A 6.83
07/29/2011 0.0250 N/A N/A 6.91
06/30/2011 0.0250 N/A N/A 6.79
05/31/2011 0.0250 N/A N/A 6.89
04/29/2011 0.0250 N/A N/A 6.84
03/31/2011 0.0250 N/A N/A 6.75
02/28/2011 0.0250 N/A N/A 6.78
01/31/2011 0.0250 N/A N/A 6.73
12/31/2010 0.0264 N/A N/A 6.73
11/30/2010 0.0269 N/A N/A 6.79
10/29/2010 0.0278 N/A N/A 6.89
09/30/2010 0.0284 N/A N/A 6.90
08/31/2010 0.0285 N/A N/A 6.87
07/30/2010 0.0285 N/A N/A 6.78
06/30/2010 0.0322 N/A N/A 6.64
05/27/2010 0.0248 N/A N/A 6.52
04/30/2010 0.0285 N/A N/A 6.68
03/31/2010 0.0285 N/A N/A 6.59
02/26/2010 0.0285 N/A N/A 6.58
01/29/2010 0.0285 N/A N/A 6.59
12/31/2009 0.0285 N/A N/A 6.51
12/30/2009 0.0000 0.0000 0.0000 6.53
11/30/2009 0.0285 N/A N/A 6.55
10/30/2009 0.0285 N/A N/A 6.51
09/30/2009 0.0285 N/A N/A 6.46
08/31/2009 0.0285 N/A N/A 6.37
07/31/2009 0.0285 N/A N/A 6.29
06/30/2009 0.0285 N/A N/A 6.01
05/29/2009 0.0285 N/A N/A 5.87
04/30/2009 0.0285 N/A N/A 5.66
03/31/2009 0.0285 N/A N/A 5.49
02/27/2009 0.0285 N/A N/A 5.55
01/30/2009 0.0285 N/A N/A 5.69
12/31/2008 0.0285 N/A N/A 5.70
11/28/2008 0.0285 N/A N/A 5.39
10/31/2008 0.0285 N/A N/A 5.25
09/30/2008 0.0285 N/A N/A 5.62
08/29/2008 0.0263 N/A N/A 6.15
07/31/2008 0.0263 N/A N/A 6.14
06/30/2008 0.0263 N/A N/A 6.22
05/30/2008 0.0263 N/A N/A 6.30
04/30/2008 0.0263 N/A N/A 6.40
03/31/2008 0.0263 N/A N/A 6.45
02/29/2008 0.0263 N/A N/A 6.58
01/31/2008 0.0263 N/A N/A 6.62
12/31/2007 0.0263 N/A N/A 6.55
11/30/2007 0.0263 N/A N/A 6.61
10/31/2007 0.0263 N/A N/A 6.53
09/28/2007 0.0263 N/A N/A 6.50
08/31/2007 0.0263 N/A N/A 6.47
07/31/2007 0.0263 N/A N/A 6.43
06/29/2007 0.0263 N/A N/A 6.43
05/31/2007 0.0263 N/A N/A 6.50
04/30/2007 0.0263 N/A N/A 6.59
03/30/2007 0.0263 N/A N/A 6.58
02/28/2007 0.0263 N/A N/A 6.63
01/31/2007 0.0263 N/A N/A 6.54
12/29/2006 0.0263 N/A N/A 6.56
11/30/2006 0.0255 N/A N/A 6.64
10/31/2006 0.0255 N/A N/A 6.59
09/29/2006 0.0255 N/A N/A 6.57
08/31/2006 0.0255 N/A N/A 6.53
07/31/2006 0.0255 N/A N/A 6.46
06/30/2006 0.0255 N/A N/A 6.40
05/31/2006 0.0255 N/A N/A 6.41
04/28/2006 0.0255 N/A N/A 6.44
03/31/2006 0.0255 N/A N/A 6.49
02/28/2006 0.0255 N/A N/A 6.59
01/31/2006 0.0255 N/A N/A 6.59
12/30/2005 0.0255 N/A N/A 6.62
11/30/2005 0.0255 N/A N/A 6.58
10/31/2005 0.0255 N/A N/A 6.57
09/30/2005 0.0255 N/A N/A 6.66
08/31/2005 0.0255 N/A N/A 6.78
07/29/2005 0.0255 N/A N/A 6.72
06/30/2005 0.0255 N/A N/A 6.78
05/31/2005 0.0255 N/A N/A 6.72
04/29/2005 0.0255 N/A N/A 6.66
03/31/2005 0.0275 N/A N/A 6.62
02/28/2005 0.0275 N/A N/A 6.75
01/31/2005 0.0275 N/A N/A 6.79
12/31/2004 0.0275 N/A N/A 6.77
10/29/2004 0.0275 N/A N/A 6.78
08/31/2004 0.0275 N/A N/A 6.72
07/30/2004 0.0275 N/A N/A 6.61
05/28/2004 0.0295 N/A N/A 6.57
04/30/2004 0.0295 N/A N/A 6.66
02/27/2004 0.0295 N/A N/A 6.82
01/30/2004 0.0295 N/A N/A 6.80
07/31/2003 0.0312 N/A N/A 6.55
11/29/2002 0.0327 N/A N/A 6.41
08/30/2002 0.0327 N/A N/A 6.39
07/31/2002 0.0327 N/A N/A 6.34
06/28/2002 0.0327 N/A N/A 6.44
05/31/2002 0.0327 N/A N/A 6.54
04/30/2002 0.0327 N/A N/A 6.50
03/28/2002 0.0327 N/A N/A 6.51
02/28/2002 0.0327 N/A N/A 6.67
01/31/2002 0.0327 N/A N/A 6.69
09/28/2001 0.0344 N/A N/A 6.71
06/29/2001 0.0355 N/A N/A 6.59
05/31/2001 0.0355 N/A N/A 6.59
03/30/2001 0.0355 N/A N/A 6.64
12/29/2000 0.0453 N/A N/A 6.53
09/29/2000 0.0345 N/A N/A 6.44
04/28/2000 0.0345 N/A N/A 6.30
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 1.20%
3-Year Beta 1.01
3-Year R-Squared 0.96
3-Year Sharpe Ratio 1.16
3-Year Standard Deviation 4.30
Number of Securities 605
Total Assets $1,035,683,533.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Barclays US Cr IX Tr

as of 05/31/2015

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
U.S. TREASURY NOTES 1.375 04/30/2020 3.26
U.S. TREASURY NOTES 2.125 05/15/2025 1.37
ROSS STORES INC 3.375 09/15/2024 0.97
TECK RESOURCES LTD 4.500 01/15/2021 0.95
WELLS FARGO & COMPANY 5.375 11/02/2043 0.84
MOODYS CORPORATION 4.875 02/15/2024 0.79
AMERICAN FINANCIAL GROUP 9.875 06/15/2019 0.79
VERIZON COMMUNICATIONS 144A 4.522 09/15/2048 0.78
NATIONWIDE FINANCIAL SER 144A 5.375 03/25/2021 0.75
CNA FINANCIAL CORP 7.350 11/15/2019 0.73

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

as of 05/31/2015

Top Industries

  % of Total Assets
Diversified Banks 10.90
Oil & Gas Storage & Transportation 4.83
Integrated Telecommunication Services 4.21
Investment Banking & Brokerage 4.09
Cable & Satellite 3.67
Oil & Gas Exploration & Production 3.47
Life & Health Insurance 2.80
Regional Banks 2.70
Pharmaceuticals 2.67
Wireless Telecommunication Services 2.61

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

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.

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.

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.

Management Risk. The investment techniques and risk analysis used by the Fund's portfolio managers may not produce the desired results.

Income Risk. The income you receive from the Fund is based primarily on prevailing interest rates, which can vary widely over the short- and long-term. If interest rates drop, your income from the Fund may drop as well.

Preferred Securities Risk. Preferred securities may include provisions that permit the issuer, in its discretion, to defer or omit distributions for a certain period of time. If the Fund owns a security that is deferring or omitting its distributions, the Fund may be required to report the distribution on its tax returns, even though it may not have received this income. Further, preferred securities may lose substantial value due to the omission or deferment of dividend payments.

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.

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.

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.

Convertible Securities Risk. The Fund may own convertible securities, the value of which may be affected by market interest rates, the risk that the issuer will default, the value of the underlying stock or the right of the issuer to buy back the convertible securities.

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.

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.

Dollar Roll Transactions Risk. Dollar roll transactions involve the risk that the market value and yield of the securities retained by the Fund may decline below the price of the mortgage-related securities sold by the Fund that it is obligated to repurchase.

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.

Collateralized Loan Obligations Risk. In addition to the normal interest rate, default and other risk 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.

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.

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.

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.

When-Issued and Delayed Delivery Risk. 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, an underlying 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 an underlying fund missing the opportunity of obtaining a price or yield considered to be advantageous.

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.

as of 07/01/2015

ACCBX

NAV Change ($)
$7.10 -0.02
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 07/01/2015

Yield 

  • Distribution Yield
    with Sales Charge 3.53%
  • Distribution Yield
    without Sales Charge 3.68%
  • SEC 30-Day Yield 3.18%
  • Unsub. 30-Day Yield N/A

Fund Details

  • Distribution Frequency Monthly
  • NASDAQ ACCBX
  • WSJ Abrev. CpBdA
  • CUSIP 001421858
  • Fund Type Fixed Income
  • Geography Type N/A
  • Inception Date 09/23/1971
  • Fiscal Year End 02/28
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1740
  • Tax ID 06-6056470

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