Mutual Funds

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 10/31/2015

Morningstar Rating

Overall Rating - Inflation-Protected Bond Category

As of 10/31/2015 the Fund had an overall rating of N/A stars out of N/A funds and was rated N/A stars out of N/A funds, N/A stars out of N/A funds and N/A stars out of N/A 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

Top Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
TREAS INFL PROT SECURITY 0.125 04/15/2018 2.12
TREAS INFL PROT SECURITY 0.125 04/15/2019 2.08
TREAS INFL PROT SECURITY 0.125 04/15/2017 1.90
TREAS INFL PROT SECURITY 0.125 01/15/2022 1.77
TREAS INFL PROT SECURITY 0.625 01/15/2024 1.74
TREAS INFL PROT SECURITY 1.125 01/15/2021 1.73
TREAS INFL PROT SECURITY 0.375 07/15/2023 1.72
TREAS INFL PROT SECURITY 0.125 01/15/2023 1.70
TREAS INFL PROT SECURITY 2.375 01/15/2025 1.69
TREAS INFL PROT SECURITY 0.250 01/15/2025 1.67

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 04/30/2014 N/A -0.20 -0.35 -1.39 N/A N/A N/A
Load 04/30/2014 2.50 -1.89 -2.85 -3.82 N/A N/A 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 10/31/2015 09/30/2015

Annualized Benchmark Returns

Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Custom Invesco Strategic Real Return Index 0.78 -1.39 -1.00 N/A N/A N/A
BofA Merrill Lynch Current 10-Year US Treasury Index -0.63 0.92 3.57 1.28 3.77 5.31
Custom Invesco Strategic Real Return Index -1.17 -2.20 -0.97 N/A N/A N/A
BofA Merrill Lynch Current 10-Year US Treasury Index 1.44 2.91 6.03 1.40 3.78 5.22

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

Source: Bloomberg LP

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.40
12b-1 Fee 0.25
Other Expenses 0.97
Interest/Dividend Exp 0.00
Total Other Expenses 0.97
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.21
Total Annual Fund Operating Expenses 1.83
Contractual Waivers/Reimbursements -1.01
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
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 10/31/2015

Asset Mix

as of 10/31/2015

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: 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 10/31/2015

Fund Characteristics

3-Year Alpha N/A
3-Year Beta N/A
3-Year R-Squared N/A
Number of Securities 191
Total Assets $16,621,314.00

Source: Bloomberg LP, StyleADVISOR

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 Fixed-Income Holdings | View all

Holding Name Coupon % Bond Maturity Date % of Total Assets
TREAS INFL PROT SECURITY 0.125 04/15/2018 2.12
TREAS INFL PROT SECURITY 0.125 04/15/2019 2.08
TREAS INFL PROT SECURITY 0.125 04/15/2017 1.90
TREAS INFL PROT SECURITY 0.125 01/15/2022 1.77
TREAS INFL PROT SECURITY 0.625 01/15/2024 1.74
TREAS INFL PROT SECURITY 1.125 01/15/2021 1.73
TREAS INFL PROT SECURITY 0.375 07/15/2023 1.72
TREAS INFL PROT SECURITY 0.125 01/15/2023 1.70
TREAS INFL PROT SECURITY 2.375 01/15/2025 1.69
TREAS INFL PROT SECURITY 0.250 01/15/2025 1.67

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

as of 10/31/2015

Top Industries

  % of Total Assets
Mutual Funds 29.41
Health Care Facilities 1.75
Construction & Farm Machinery & Heavy Trucks 1.69
Building Products 1.63
Oil & Gas Exploration & Production 1.58
Specialized REITs 1.26
Cable & Satellite 1.07
Trading Companies & Distributors 1.01
Integrated Telecommunication Services 0.95
Household Products 0.93

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

Top Countries

  % of Total Assets
United States 51.02
Canada 0.92
Luxembourg 0.11
Ireland 0.11
Australia 0.05
Bermuda 0.02

 About risk

Asset-Backed Securities Risk. The Fund may invest in 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.

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 "tapering" of the FRB's quantitative easing program and other similar foreign central bank actions. This tapering and 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. In addition to the normal interest rate, default and other risks 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.

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.

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.

Defaulted Securities Risk. Defaulted securities involve the substantial risk that principal will not be repaid. 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. The prices of securities issued by foreign companies and governments located in emerging market countries may be affected more negatively b y 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.

Exchange-Traded Funds Risk. An investment by the Fund in exchange-traded funds generally presents the same primary risks as an investment in a mutual fund. In addition, an exchange-traded fund may be subject to the following: (1) a discount of the exchange-traded fund's shares to its net asset value; (2) failure to develop an active trading market for the exchange-traded fund's shares; (3) the listing exchange halting trading of the exchange-traded fund's shares; (4) failure of the exchange-traded fund's shares to track the referenced asset; and (5) holding troubled securities in the referenced index or basket of investments. Investments 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 of the exchange-traded funds in which the Fund may invest are leveraged. The more the Fund invests in such leveraged exchange-traded funds, the more this leverage will magnify any losses on those investments.

Floating Rate Risk. The Fund may invest in floating rate loans and debt securities that require collateral. There is a risk that the value of the collateral may not be sufficient to cover the amount owed, collateral securing a loan may be found invalid, and collateral may be used to pay other outstanding obligations of the borrower under applicable law or may be difficult to sell. There is also the risk that the collateral may be difficult to liquidate, or that a majority of the collateral may be illiquid.

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.

High Yield Bond (Junk Bond) Risk. High yield bonds (commonly referred to as 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.

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.

Indexing Risk. The TIPS Portfolio does not utilize an investing strategy that seeks returns in excess of the Underlying Index. Therefore, it would not necessarily sell a security unless that security is removed from the Underlying Index.

Industry Focus Risk. To the extent a Fund invests in securities issued or guaranteed by companies in the banking and financial services industries, the Fund's performance will depend on the overall condition of those industries, which may be affected by the following factors: the supply of short-term financing, changes in government regulation and interest rates, and the overall economy.

Inflation-Indexed Security Risk. The risk that the value of an inflation indexed security (such as TIPS) tends to decrease when real interest rates increase and increase when real interest rates decrease. Interest payments on U. S. inflation-indexed securities will vary along with changes in the CPI.

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.

Liquidity Risk. The Fund may hold illiquid securities that it is unable to sell at the preferred time or price and could lose its entire investment in such securities.

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

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.

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.

Prepayment Risk. An issuer's ability to prepay principal on a loan or debt security prior to maturity can limit the Fund's potential gains. Prepayments may require the Fund to replace the loan or debt security with a lower yielding security, adversely affecting the Fund's yield.

Reinvestment Risk. Reinvestment risk is the risk that a bond's cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

Sampling Risk. The TIPS Portfolio's use of a representative sampling approach will result in its holding a smaller number of bonds than are in the Underlying Index. As a result, an adverse development respecting an issuer of bonds held by the TIPS Portfolio could result in a greater decline in NAV than would be the case if the Fund held all of the bonds in the Underlying Index. To the extent the assets in the TIPS Portfolio are smaller, these risks will be greater.

When-Issued and Delayed Delivery Risks. 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, the 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 the Fund missing the opportunity of obtaining a price or yield considered to be advantageous.

as of 11/27/2015


NAV Change ($)
$9.43 0.00
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 11/27/2015


  • Distribution Yield
    with Sales Charge 3.05%
  • Distribution Yield
    without Sales Charge 3.13%
  • SEC 30-Day Yield 2.89%
  • Unsub. 30-Day Yield 1.88%

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