Invesco Oppenheimer Ultra-Short Duration Fund

Fixed Income | US Fixed Income

Objective & Strategy

The Fund seeks income. The strategy typically invests in short-term investment-grade debt securities.

as of 08/31/2019

Morningstar Rating

Overall Rating - Ultrashort Bond Category

As of 08/31/2019 the Fund had an overall rating of 3 stars out of 152 funds and was rated 2 stars out of 152 funds, 3 stars out of 130 funds and N/A stars out of 57 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.

Management team

as of 08/31/2019 06/30/2019

Average Annual Returns (%)

  Incept.
Date
Max
Load (%)
Since
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 04/25/2011 N/A 0.95 1.93 2.55 1.76 1.30 N/A
Load 04/25/2011 N/A N/A N/A N/A 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.

Had fees not been waived and/or expenses reimbursed currently or in the past, returns would have been lower.

As the result of a reorganization on May 24, 2019, the returns of the fund for periods on or prior to May 24, 2019 reflect performance of the Oppenheimer predecessor fund. Share class returns will differ from the predecessor fund due to a change in expenses and sales charges.

as of 08/31/2019 06/30/2019

Annualized Benchmark Returns


Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
ICE BofAML U.S. 3-Month Treasury Bill Index 0.21 0.61 2.36 1.50 0.95 0.52
ICE BofAML U.S. 3-Month Treasury Bill Index 0.21 0.61 2.36 1.50 0.95 0.52
ICE BofAML U.S. 3-Month Treasury Bill Index 0.22 0.64 2.31 1.38 0.87 0.49
ICE BofAML U.S. 3-Month Treasury Bill Index 0.22 0.64 2.31 1.38 0.87 0.49

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.30
12b-1 Fee N/A
Other Expenses 0.04
Interest/Dividend Exp N/A
Total Other Expenses 0.04
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) N/A
Total Annual Fund Operating Expenses 0.34
Contractual Waivers/Reimbursements -0.05
Net Expenses - PER PROSPECTUS 0.29
Additional Waivers/Reimbursements N/A
Net Expenses - With Additional Fee Reduction 0.29
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
08/30/2019 0.0096 N/A N/A 4.999
07/31/2019 0.0108 N/A N/A 4.999
06/28/2019 0.0106 N/A N/A 4.999
05/31/2019 0.0111 N/A N/A 4.998
04/30/2019 0.0108 N/A N/A 5.00
03/29/2019 0.0114 N/A N/A 4.999
02/28/2019 0.0103 N/A N/A 4.998
01/31/2019 0.0112 N/A N/A 4.995
12/31/2018 0.0109 N/A N/A 4.985
11/30/2018 0.0098 N/A N/A 4.99
10/31/2018 0.0101 N/A N/A 4.995
09/28/2018 0.0094 N/A N/A 4.999
08/31/2018 0.0094 N/A N/A 4.998
07/31/2018 0.0091 N/A N/A 4.996
06/29/2018 0.0087 N/A N/A 4.992
05/31/2018 0.0086 N/A N/A 4.994
04/30/2018 0.0088 N/A N/A 4.993
03/29/2018 0.0075 N/A N/A 4.99
02/28/2018 0.0061 N/A N/A 4.995
01/31/2018 0.0065 N/A N/A 5.003
12/29/2017 0.0061 N/A N/A 5.004
11/30/2017 0.0058 N/A N/A 5.005
10/31/2017 0.0058 N/A N/A 5.008
09/29/2017 0.0056 N/A N/A 5.009
08/31/2017 0.0064 N/A N/A 5.009
07/31/2017 0.0055 N/A N/A 5.01
06/30/2017 0.0052 N/A N/A 5.007
05/31/2017 0.0052 N/A N/A 5.008
04/28/2017 0.0050 N/A N/A 5.007
03/31/2017 0.0050 N/A N/A 5.005
02/28/2017 0.0043 N/A N/A 5.007
01/31/2017 0.0047 N/A N/A 5.006
12/30/2016 0.0045 N/A N/A 5.004
11/30/2016 0.0040 N/A N/A 5.004
10/31/2016 0.0041 N/A N/A 5.006
09/30/2016 0.0041 N/A N/A 5.005
08/31/2016 0.0040 N/A N/A 5.006
07/29/2016 0.0040 N/A N/A 5.006
06/30/2016 0.0039 N/A N/A 5.005
05/31/2016 0.0040 N/A N/A 5.006
04/29/2016 0.0038 N/A N/A 5.006
03/31/2016 0.0050 N/A N/A 5.003
02/29/2016 0.0036 N/A N/A 4.998
01/29/2016 0.0036 N/A N/A 5.00
12/31/2015 0.0048 N/A N/A 4.998
11/30/2015 0.0028 N/A N/A 5.005
10/30/2015 0.0028 N/A N/A 5.004
09/30/2015 0.0024 N/A N/A 5.003
08/31/2015 0.0023 N/A N/A 5.001
07/31/2015 0.0043 N/A N/A 10.006
06/30/2015 0.0034 N/A N/A 10.006
05/29/2015 0.0032 N/A N/A 10.012
04/30/2015 0.0030 N/A N/A 10.012
03/31/2015 0.0027 N/A N/A 10.012
02/27/2015 0.0021 N/A N/A 10.012
01/30/2015 0.0021 N/A N/A 10.013
12/31/2014 0.0020 0.0007 N/A 10.007
11/28/2014 0.0016 N/A N/A 10.014
10/31/2014 0.0019 N/A N/A 10.014
09/30/2014 0.0016 0.0011 N/A 10.014
08/29/2014 0.0015 N/A N/A 10.018
07/31/2014 0.0060 0.0030 N/A 10.016
06/30/2014 0.0011 N/A N/A 10.021
05/30/2014 0.0014 N/A N/A 10.022
04/30/2014 0.0015 N/A N/A 10.019
03/31/2014 0.0015 N/A N/A 10.019
02/28/2014 0.0013 N/A N/A 10.02
01/31/2014 0.0017 N/A N/A 10.019
12/30/2013 0.0022 N/A N/A 10.016
11/29/2013 0.0020 N/A N/A 10.018
10/31/2013 0.0018 N/A N/A 10.016
09/30/2013 0.0017 N/A N/A 10.016
08/30/2013 0.0022 N/A N/A 10.014
07/31/2013 0.0022 N/A N/A 10.015
06/28/2013 0.0019 N/A N/A 10.013
05/31/2013 0.0022 N/A N/A 10.016
04/30/2013 0.0025 N/A N/A 10.017
03/28/2013 0.0028 N/A N/A 10.017
02/28/2013 0.0026 N/A N/A 10.019
01/31/2013 0.0030 N/A N/A 10.019
12/28/2012 0.0029 N/A N/A 10.018
11/30/2012 0.0039 N/A N/A 10.018
10/31/2012 0.0044 N/A N/A 10.019
09/28/2012 0.0038 0.0045 N/A 10.015
08/31/2012 0.0048 N/A N/A 10.017
07/31/2012 0.0046 N/A N/A 10.014
06/29/2012 0.0046 N/A N/A 10.013
05/31/2012 0.0047 0.0055 N/A 10.013
04/30/2012 0.0045 N/A N/A 10.018
03/30/2012 0.0050 N/A N/A 10.018
02/29/2012 0.0046 N/A N/A 10.012
01/31/2012 0.0045 N/A N/A 10.005
12/29/2011 0.0042 N/A N/A 9.992
11/30/2011 0.0036 N/A N/A 9.992
10/31/2011 0.0028 N/A N/A 9.994
09/30/2011 0.0028 N/A N/A 9.993
08/31/2011 0.0012 N/A N/A 9.995
07/29/2011 0.0000 N/A N/A 10.004

 About risk

As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. The risks associated with an investment in the Fund can increase during times of significant market volatility. The principal risks of investing in the Fund are:

Risks of Investing in Debt Securities. Debt securities may be subject to interest rate risk, duration risk, credit risk, credit spread risk, extension risk, reinvestment risk, prepayment risk and event risk. Interest rate risk is the risk that when prevailing interest rates fall, the values of already-issued debt securities generally rise; and when prevailing interest rates rise, the values of already-issued debt securities generally fall, and therefore, those debt securities may be worth less than the amount the Fund paid for them or valued them. When interest rates change, the values of longer-term debt securities usually change more than the values of shorter-term debt securities. Risks associated with rising interest rates are heightened given that interest rates in the U.S. are near historic lows. Duration is a measure of the price sensitivity of a debt security or portfolio to interest rate changes. Duration risk is the risk that longer-duration debt securities will be more volatile and thus more likely to decline in price, and to a greater extent, in a rising interest rate environment than shorter-duration debt securities. Credit risk is the risk that the issuer of a security might not make interest and principal payments on the security as they become due. If an issuer fails to pay interest or repay principal, the Fund’s income or share value might be reduced. Adverse news about an issuer or a downgrade in an issuer’s credit rating, for any reason, can also reduce the market value of the issuer’s securities. “Credit spread” is the difference in yield between securities that is due to differences in their credit quality. There is a risk that credit spreads may increase when the market expects lower-grade bonds to default more frequently. Widening credit spreads may quickly reduce the market values of the Fund’s lower-rated and unrated securities. Some unrated securities may not have an active trading market or may trade less actively than rated securities, which means that the Fund might have difficulty selling them promptly at an acceptable price. Extension risk is the risk that an increase in interest rates could cause prepayments on a debt security to occur at a slower rate than expected. Extension risk is particularly prevalent for a callable security where an increase in interest rates could result in the issuer of that security choosing not to redeem the security as anticipated on the security’s call date. Such a decision by the issuer could have the effect of lengthening the debt security’s expected maturity, making it more vulnerable to interest rate risk and reducing its market value. Reinvestment risk is the risk that when interest rates fall the Fund may be required to reinvest the proceeds from a security’s sale or redemption at a lower interest rate. Callable bonds are generally subject to greater reinvestment risk than non-callable bonds. Prepayment risk is the risk that the issuer may redeem the security prior to the expected maturity or that borrowers may repay the loans that underlie these securities more quickly than expected, thereby causing the issuer of the security to repay the principal prior to the expected maturity. The Fund may need to reinvest the proceeds at a lower interest rate, reducing its income. Event risk is the risk that an issuer could be subject to an event, such as a buyout or debt restructuring, that interferes with its ability to make timely interest and principal payments and cause the value of its debt securities to fall.

Fixed-Income Market Risks. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Liquidity may decline unpredictably in response to overall economic conditions or credit tightening. During times of reduced market liquidity, the Fund may not be able to readily sell bonds at the prices at which they are carried on the Fund’s books and could experience a loss. If the Fund needed to sell large blocks of bonds to meet shareholder redemption requests or to raise cash, those sales could further reduce the bonds’ prices, particularly for lower-rated and unrated securities. An unexpected increase in redemptions by Fund shareholders (including requests from shareholders who may own a significant percentage of the Fund’s shares), which may be triggered by general market turmoil or an increase in interest rates, as well as other adverse market and economic developments, could cause the Fund to sell its holdings at a loss or at undesirable prices and adversely affect the Fund’s share price and increase the Fund’s liquidity risk, Fund expenses and/or taxable distributions, if applicable. As of the date of this prospectus, interest rates in the U.S. are near historically low levels, increasing the exposure of bond investors to the risks associated with rising interest rates. Economic and other market developments can adversely affect fixedincome securities markets in the United States, Europe and elsewhere. At times, participants in debt securities markets may develop concerns about the ability of certain issuers of debt securities to make timely principal and interest payments, or they may develop concerns about the ability of financial institutions that make markets in certain debt securities to facilitate an orderly market. Those concerns may impact the market price or value of those debt securities and may cause increased volatility in those debt securities or debt securities markets. Under some circumstances, those concerns may cause reduced liquidity in certain debt securities markets, reducing the willingness of some lenders to extend credit, and making it more difficult for borrowers to obtain financing on attractive terms (or at all). A lack of liquidity or other adverse credit market conditions may hamper the Fund’s ability to sell the debt securities in which it invests or to find and purchase suitable debt instruments.

Liquidity Risks. Securities that are difficult to value or to sell promptly at an acceptable price are generally referred to as “illiquid” securities. If it is required to sell securities quickly or at a particular time (including sales to meet redemption requests) the Fund could realize a loss on illiquid investments.

Risks of Foreign Investing. Foreign securities are subject to special risks. Securities traded in foreign markets may be less liquid and more volatile than those traded in U.S. markets. Foreign issuers are usually not subject to the same accounting and disclosure requirements that U.S. companies are subject to, which may make it difficult for the Fund to evaluate a foreign company’s operations or financial condition. A change in the value of a foreign currency against the U.S. dollar will result in a change in the U.S. dollar value of investments denominated in that foreign currency and in the value of any income or distributions the Fund may receive on those investments. The value of foreign investments may be affected by exchange control regulations, foreign taxes, higher transaction and other costs, delays in the settlement of transactions, changes in economic or monetary policy in the United States or abroad, expropriation or nationalization of a company’s assets, or other political and economic factors. In addition, due to the inter-relationship of global economies and financial markets, changes in political and economic factors in one country or region could adversely affect conditions in another country or region. Investments in foreign securities may also expose the Fund to time-zone arbitrage risk. Foreign securities may trade on weekends or other days when the Fund does not price its shares. As a result, the value of the Fund’s net assets may change on days when you will not be able to purchase or redeem the Fund’s shares. At times, the Fund may emphasize investments in a particular country or region and may be subject to greater risks from adverse events that occur in that country or region. Foreign securities and foreign currencies held in foreign banks and securities depositories may be subject to only limited or no regulatory oversight.

Risks of Concentration in Banking and Financial Services. The Fund will invest more than 25% of its total assets in securities of issuers in the banking industry and in the financial securities group of industries. Banking and other financial securities industries may be more susceptible to particular economic and regulatory events such as volatility in the financial markets and interest rates, changes in domestic and foreign monetary policy, and changes in industry regulations.

Risks of Derivative Investments. Derivatives may involve significant risks. Derivatives may be more volatile than other types of investments, may require the payment of premiums, may increase portfolio turnover, may be illiquid, and may not perform as expected. Derivatives are subject to counterparty risk and the Fund may lose money on a derivative investment if the issuer or counterparty fails to pay the amount due. Some derivatives have the potential for unlimited loss, regardless of the size of the Fund’s initial investment. As a result of these risks, the Fund could realize little or no income or lose money from its investment, or a hedge might be unsuccessful. In addition, pursuant to rules implemented under financial reform legislation, certain over-the-counter derivatives are required to be executed on a regulated market and/or cleared through a clearinghouse. Entering into a derivative transaction with a clearinghouse may entail further risks and costs.
as of 09/20/2019

OSDAX

NAV Change ($)
$5.00 0.00
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 09/20/2019

Yield 

  • Distribution Yield
    with Sales Charge 2.29%
  • Distribution Yield
    without Sales Charge 2.29%
  • SEC 30-Day Yield 2.1%
  • Unsub. 30-day yield 1.99%

Fund Details

  • Distribution Frequency Monthly
  • NASDAQ OSDAX
  • WSJ Abrev. N/A
  • CUSIP 001421163
  • Fund Type Tax Bond
  • Geography Type Domestic
  • Inception Date 04/25/2011
  • Fiscal Year End 07/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1499
  • Tax ID 27-5013457