Invesco Strategic Real Return Fund

Fixed Income | US Fixed Income

Objective & Strategy

The Fund’s investment objective is to seek to mitigate the effects of unanticipated inflation and to provide current income. The Fund seeks to achieve its investment objective by employing a diversified approach to manage inflation risk by using different fixed income asset classes which are expected to perform well in inflationary environments, while offering a competitive yield.

as of 05/31/2019

Morningstar Rating

Overall Rating - Multisector Bond Category

As of 05/31/2019 the Fund had an overall rating of 3 stars out of 303 funds and was rated 2 stars out of 303 funds, 3 stars out of 236 funds and N/A stars out of 134 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. ©2019 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.

as of 05/31/2019

Top Equity Holdings | View all

% of Total Assets
Invesco Floating Rate Fund 30.27
Bank of America 0.34
Wells Fargo 0.30
Becton Dickinson & Co 0.13
Assurant Pfd 0.12
Bunge Pfd 0.12
Dominion Resources Conv Pfd 0.11
AMG Capital Trust II Conv Pfd 'B' 0.11
Stanley Black & Decker 0.11

May not equal 100% due to rounding.

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

as of 05/31/2019

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
United States Treasury Inflation Indexed Bonds 0.630 04/15/2023 1.60
United States Treasury Inflation Indexed Bonds 0.130 04/15/2021 1.58
United States Treasury Inflation Indexed Bonds 0.130 04/15/2022 1.54
United States Treasury Inflation Indexed Bonds 0.630 01/15/2026 1.52
United States Treasury Inflation Indexed Bonds 0.130 01/15/2022 1.52
United States Treasury Inflation Indexed Bonds 0.630 01/15/2024 1.52
United States Treasury Inflation Indexed Bonds 0.130 07/15/2022 1.49
United States Treasury Inflation Indexed Bonds 0.130 01/15/2023 1.48
United States Treasury Inflation Indexed Bonds 0.380 07/15/2023 1.47
United States Treasury Inflation Indexed Bonds 0.380 07/15/2025 1.46

May not equal 100% due to rounding.

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

as of 05/31/2019 03/31/2019

Average Annual Returns (%)

Load (%)
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 04/30/2014 N/A 2.54 5.58 3.86 3.72 2.30 N/A
Load 04/30/2014 2.50 2.03 3.00 1.31 2.86 1.79 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.

as of 05/31/2019 03/31/2019

Annualized Benchmark Returns

Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Custom Invesco Strategic Real Return Index 0.42 2.51 4.57 4.50 3.04 N/A
ICE BofAML US Inflation-Linked Treasury Index 1.79 4.14 4.51 2.60 1.76 3.73
Custom Invesco Strategic Real Return Index 1.08 4.57 3.62 4.66 N/A N/A
ICE BofAML US Inflation-Linked Treasury Index 1.97 3.38 2.69 1.76 2.09 3.51

Source: Invesco, Bloomberg, FactSet, S&P Dow Jones

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.40
12b-1 Fee 0.25
Other Expenses 1.02
Interest/Dividend Exp 0.00
Total Other Expenses 1.02
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.21
Total Annual Fund Operating Expenses 1.88
Contractual Waivers/Reimbursements -1.06
Net Expenses - PER PROSPECTUS 0.82
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.82
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
06/20/2019 0.0305 N/A N/A 9.60
05/16/2019 0.0305 N/A N/A 9.48
04/18/2019 0.0321 N/A N/A 9.48
03/21/2019 0.0321 N/A N/A 9.45
02/21/2019 0.0321 N/A N/A 9.37
01/17/2019 0.0321 N/A N/A 9.28
12/14/2018 0.0461 N/A N/A 9.22
11/15/2018 0.0320 N/A N/A 9.32
10/18/2018 0.0320 N/A N/A 9.41
09/13/2018 0.0320 N/A N/A 9.52
08/16/2018 0.0320 N/A N/A 9.54
07/19/2018 0.0320 N/A N/A 9.55
06/21/2018 0.0320 N/A N/A 9.54
05/17/2018 0.0260 N/A N/A 9.50
04/19/2018 0.0260 N/A N/A 9.58
03/22/2018 0.0199 N/A N/A 9.54
02/15/2018 0.0199 N/A N/A 9.53
01/18/2018 0.0199 N/A N/A 9.66
12/13/2017 0.0987 N/A N/A 9.64
11/16/2017 0.0269 N/A N/A 9.69
10/19/2017 0.0269 N/A N/A 9.71
09/14/2017 0.0269 N/A N/A 9.73
08/17/2017 0.0269 N/A N/A 9.70
07/20/2017 0.0169 N/A N/A 9.73
06/15/2017 0.0169 N/A N/A 9.70
05/18/2017 0.0169 N/A N/A 9.71
04/20/2017 0.0169 N/A N/A 9.71
03/16/2017 0.0169 N/A N/A 9.65
02/16/2017 0.0169 N/A N/A 9.68
01/19/2017 0.0169 N/A N/A 9.64
12/13/2016 0.1455 N/A N/A 9.58
11/17/2016 0.0169 N/A N/A 9.65
10/20/2016 0.0168 N/A N/A 9.84
09/15/2016 0.0168 N/A N/A 9.72
08/18/2016 0.0168 N/A N/A 9.77
07/21/2016 0.0168 N/A N/A 9.72
06/16/2016 0.0168 N/A N/A 9.57
05/19/2016 0.0168 N/A N/A 9.52
04/21/2016 0.0168 N/A N/A 9.51
03/17/2016 0.0168 N/A N/A 9.35
02/18/2016 0.0168 N/A N/A 9.11
01/21/2016 0.0168 N/A N/A 9.11
12/11/2015 0.0804 N/A N/A 9.24
11/19/2015 0.0246 N/A N/A 9.43
10/15/2015 0.0246 N/A N/A 9.52
09/17/2015 0.0246 N/A N/A 9.58
08/20/2015 0.0246 N/A N/A 9.65
07/16/2015 0.0246 N/A N/A 9.76
06/18/2015 0.0082 N/A N/A 9.79
05/21/2015 0.0082 N/A N/A 9.86
04/16/2015 0.0082 N/A N/A 9.93
03/19/2015 0.0082 N/A N/A 9.83
02/19/2015 0.0157 N/A N/A 9.79
01/22/2015 0.0205 N/A N/A 9.77
12/12/2014 0.0335 N/A N/A 9.69
11/20/2014 0.0334 N/A N/A 9.83
10/16/2014 0.0334 N/A N/A 9.84
09/18/2014 0.0444 N/A N/A 9.90
08/21/2014 0.0444 N/A N/A 10.09
07/17/2014 0.0444 N/A N/A 10.12
06/19/2014 0.0444 N/A N/A 10.11
as of 05/31/2019

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: 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.

as of 05/31/2019

Fund Characteristics

3-Year Alpha -0.76%
3-Year Beta 1.00
3-Year R-Squared 0.98
3-Year Sharpe Ratio 0.94
3-Year Standard Deviation 2.52
Number of Securities 337
Total Assets $43,612,650.00

Source: StyleADVISOR

Benchmark:  Custom Invesco Strategic Real Return Index

as of 05/31/2019

Top Equity Holdings | View all

% of Total Assets
Invesco Floating Rate Fund 30.27
Bank of America 0.34
Wells Fargo 0.30
Becton Dickinson & Co 0.13
Assurant Pfd 0.12
Bunge Pfd 0.12
Dominion Resources Conv Pfd 0.11
AMG Capital Trust II Conv Pfd 'B' 0.11
Stanley Black & Decker 0.11

May not equal 100% due to rounding.

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

as of 05/31/2019

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
United States Treasury Inflation Indexed Bonds 0.630 04/15/2023 1.60
United States Treasury Inflation Indexed Bonds 0.130 04/15/2021 1.58
United States Treasury Inflation Indexed Bonds 0.130 04/15/2022 1.54
United States Treasury Inflation Indexed Bonds 0.630 01/15/2026 1.52
United States Treasury Inflation Indexed Bonds 0.130 01/15/2022 1.52
United States Treasury Inflation Indexed Bonds 0.630 01/15/2024 1.52
United States Treasury Inflation Indexed Bonds 0.130 07/15/2022 1.49
United States Treasury Inflation Indexed Bonds 0.130 01/15/2023 1.48
United States Treasury Inflation Indexed Bonds 0.380 07/15/2023 1.47
United States Treasury Inflation Indexed Bonds 0.380 07/15/2025 1.46

May not equal 100% due to rounding.

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

as of 05/31/2019

Top Industries

  % of Total Assets
Cable & Satellite 3.21
Oil & Gas Exploration & Production 1.81
Integrated Telecommunication Services 1.19
Diversified Banks 0.75
Health Care Facilities 0.74
Aerospace & Defense 0.67
Health Care Services 0.66
Oil & Gas Storage & Transportation 0.57
Specialized REITs 0.50
Semiconductors 0.48

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 05/31/2019

Top Countries

  % of Total Assets
United States 49.47
Canada 1.00
Luxembourg 0.74
United Kingdom 0.57
France 0.55
Netherlands 0.48
Germany 0.47
Chile 0.42
China 0.33
Italy 0.06

May not equal 100% due to rounding.

 About risk

Asset-Backed Securities Risk. Asset-backed securities 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, which could result in the Fund reinvesting these early payments at lower interest rates, thereby reducing the Fund's income. Asset-backed securities also are subject to extension risk, which is the risk that a rise in interest rates could reduce the rate of prepayments, causing the price of the asset-backed securities and the Fund's share price to fall.

Bank Loan Risk. There are a number of risks associated with an investment in bank loans including credit risk, interest rate risk, liquidity risk and prepayment risk. Lack of an active trading market, restrictions on resale, irregular trading activity, wide bid/ask spreads and extended trade settlement periods may impair the Fund's ability to sell bank loans within its desired time frame or at an acceptable price and its ability to accurately value existing and prospective investments. Extended trade settlement periods may result in cash not being immediately available to the Fund. As a result, the Fund may have to sell other investments or engage in borrowing transactions to raise cash to meet its obligations. The risk of holding bank loans is also directly tied to the risk of insolvency or bankruptcy of the issuing banks. These risks could cause the Fund to lose income or principal on a particular investment, which in turn could affect the Fund's returns. The value of bank loans can be affected by and sensitive to changes in government regulation and to economic downturns in the United States and abroad. Bank loans generally are floating rate loans, which are subject to interest rate risk as the interest paid on the floating rate loans adjusts periodically based on changes in widely accepted reference rates.

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.

Convertible Securities Risk. The market values of convertible securities are affected by market interest rates, the risk of actual issuer default on interest or principal payments and the value of the underlying common stock into which the convertible security may be converted. Additionally, a convertible security is subject to the same types of market and issuer risks as apply to the underlying common stock. In addition, certain convertible securities are subject to involuntary conversions and may undergo principal write-downs upon the occurrence of certain triggering events, and, as a result, are subject to an increased risk of loss.

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.

Defaulted Securities Risk. Defaulted securities pose a greater risk that principal will not be repaid than non-defaulted securities. Defaulted securities and any securities received in an exchange for such securities may be subject to restrictions on resale.

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.

Exchange-Traded Funds Risk. In addition to the risks associated with the underlying assets held by the exchange-traded fund, investments in exchange-traded funds are subject to the following additional risks: (1) an exchange-traded fund's shares may trade above or below its net asset value; (2) an active trading market for the exchange-traded fund's shares may not develop or be maintained; (3) trading an exchange-traded fund's shares may be halted by the listing exchange; (4) a passively managed exchange-traded fund may not track the performance of the reference asset; and (5) a passively managed exchange-traded fund may hold troubled securities. Investment in exchange-traded funds may involve duplication of management fees and certain other expenses, as the Fund indirectly bears its proportionate share of any expenses paid by the exchange-traded funds in which it invests. Further, certain exchange-traded funds in which the Fund may invest are leveraged, which may result in economic leverage, permitting the Fund to gain exposure that is greater than would be the case in an unlevered instrument and potentially resulting in greater volatility.

Financial Services Sector Risk. The Fund may be susceptible to adverse economic or regulatory occurrences affecting the financial services sector. Financial services companies are subject to extensive government regulation and are disproportionately affected by unstable interest rates, each of which could adversely affect the profitability of such companies. Financial services companies may also have concentrated portfolios, which makes them especially vulnerable to unstable economic 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.

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.

Indexing Risk. The TIPS Portfolio uses an indexing approach and, therefore, the adverse performance of a particular security necessarily will not result in the elimination of the security from the TIPS Portfolio. Ordinarily, the Adviser will not sell portfolio securities of the TIPS Portfolio except to reflect additions or deletions of the securities that comprise the Underlying Index, or as may be necessary to raise cash to pay Fund shareholders who sell Fund shares. As such, the TIPS Portfolio, and therefore the Fund, will be negatively affected by declines in the securities represented by the Underlying Index. Also, there is no guarantee that the Adviser will be able to correlate the performance of the TIPS Portfolio with that of the Underlying Index.

Inflation-Indexed Securities Risk. The values of inflation-indexed securities generally fluctuate in response to changes in real interest rates, and the Fund's income from its investments in these securities is likely to fluctuate considerably more than the income distributions of its investments in more traditional fixed-income securities.

Inflation-Indexed Securities Tax Risk. Any increase in the principal amount of an inflation-indexed security may be included for tax purposes in the Fund's gross income, even though no cash attributable to such gross income has been received by the Fund. In such event, the Fund may be required to make annual distributions to shareholders that exceed the cash it has otherwise received. In order to pay such distributions, the Fund may be required to raise cash by selling portfolio investments. The sale of such investments could result in capital gains to the Fund and additional capital gain distributions to shareholders. In addition, adjustments during the taxable year for deflation to an inflation-indexed bond held by the Fund may cause amounts previously distributed to shareholders in the taxable year as income to be characterized as a return of capital.

Investment Companies Risk. Investing in other investment companies could result in the duplication of certain fees, including management and administrative fees, and may expose the Fund to the risks of owning the underlying investments that the other investment company holds.

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. Because the Fund's investment process relies heavily on its asset allocation process, market movements that are counter to the portfolio managers' expectations may have a significant adverse effect on the Fund's net asset value. 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.

Preferred Securities Risk. Preferred securities are subject to issuer-specific and market risks applicable generally to equity securities. Preferred securities also may be subordinated to bonds or other debt instruments, subjecting them to a greater risk of non-payment, may be less liquid than many other securities, such as common stocks, and generally offer no voting rights with respect to the issuer.

Sampling Risk. The use by the TIPS Portfolio of a representative sampling approach will result in its holding a smaller number of securities than are in the Underlying Index and in the TIPS Portfolio holding securities not included in the Underlying Index. As a result, an adverse development respecting an issuer of securities held by the TIPS Portfolio could result in a greater decline in the Fund's NAV than would be the case if all of the securities in the Underlying Index were held. The use by the TIPS Portfolio of a representative sampling approach may also include the risk that it may not track the return of the Underlying Index as well as it would have if the TIPS Portfolio held all of the securities in the Underlying Index.

Short Position Risk. Because the Fund's potential loss on a short position arises from increases in the value of the asset sold short, the Fund will incur a loss on a short position, which is theoretically unlimited, if the price of the asset sold short increases from the short sale price. The counterparty to a short position or other market factors may prevent the Fund from closing out a short position at a desirable time or price and may reduce or eliminate any gain or result in a loss. In a rising market, the Fund's short positions will cause the Fund to underperform the overall market and its peers that do not engage in shorting. If the Fund holds both long and short positions, and both positions decline simultaneously, the short positions will not provide any buffer (hedge) from declines in value of the Fund's long positions. Certain types of short positions involve leverage, which may exaggerate any losses, potentially more than the actual cost of the investment, and will increase the volatility of the Fund's returns.

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.

as of 06/24/2019


NAV Change ($)
$9.58 0.00
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 06/24/2019


  • Distribution Yield
    with Sales Charge 3.72%
  • Distribution Yield
    without Sales Charge 3.82%
  • SEC 30-Day Yield 5.36%
  • Unsub. 30-day yield 4.3%

Fund Details

  • Distribution Frequency Monthly
  • WSJ Abrev. N/A
  • CUSIP 00141A388
  • Fund Type Fixed Income
  • Geography Type Domestic
  • Inception Date 04/30/2014
  • Fiscal Year End 08/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1659
  • Tax ID 46-4789325