AMHYX
Invesco High Yield Fund
Invests primarily in investment-grade and high-yield corporate bonds.
Recognized among large U.S. investment managers for outstanding overall performance1.
The Invesco Corporate Bond Fund is an active, total return strategy with an objective to provide current income with preservation of capital by investing primarily in corporate bonds.
We combine top-down macro analysis with bottom-up credit research to capitalize on opportunities across corporate bonds.
We manage intra-cycle volatility in pursuit of strong risk-adjusted performance over time.
We construct corporate bond portfolios based on diversification, relative value, and liquidity.
Get timely answers to important questions regarding this product.
Corporate bonds are debt obligations issued by companies that typically pay investors periodic interest as well as the principal when the bond matures. Corporate bonds generally fall into two major categories: investment grade and high yield.
Corporate bonds have two main risks: credit (or default) risk is the risk the company won’t be able to make payments on interest and/or principal; and interest rate risk is the risk their prices may fall when rates rise.
Corporate bond credit ratings are determined by credit ratings agencies such as Standard & Poor’s, Fitch, and Moody’s. Bonds with investment-grade ratings (rated Aaa/AAA to A3/A-) are issued by companies seen as very creditworthy based on the strength of the business and the balance sheet. High-yield bonds (rated Baa1/BBB+ to C/C), on the other hand, pay investors higher yields to compensate for their higher credit risk
Investors can turn to Invesco for high-conviction bond strategies across the fixed income spectrum. Our team is empowered by a collaborative culture and extensive research capabilities across geographies, asset classes, and sectors. We bring the resources of a global asset management firm while remaining nimble enough to add value through security selection. Through a rigorous, repeatable process that constantly identifies new themes and opportunities, we aim to build best-idea portfolios that seek to deliver strong risk-adjusted performance over time.
The following share classes are offered for this fund: Class A, Class C, Class R, Class R5, Class R6, Class Y.
To learn more about our high yield fixed income offerings, explore the funds below.
AMHYX
Invesco High Yield Fund
OGYAX
Invesco High Yield Bond Factor Fund
The Fund’s primary investment objective is to seek to provide current income with preservation of capital. Capital appreciation is a secondary objective that is sought only when consistent with the Fund’s primary investment objective.
Source: LSEG Lipper Fund Awards. © 2024 LSEG Lipper. All The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed. LSEG Lipper Inc. is a major independent mutual fund tracking organization.
ABOUT RISK
NA3092330
Not all share classes are available to all investors. Please see the prospectus for more information.
Diversification does not guarantee a profit or eliminate the risk of loss.
Credit Ratings are assigned by Nationally Recognized Statistical Rating Organizations based on assessment of the credit worthiness of the underlying bond issuers. The ratings range from AAA (highest) to D (lowest) and are subject to change. Not rated indicates the debtor was not rated and should not be interpreted as indicating low quality. Futures and other derivatives are not eligible for assigned credit ratings by any NRSRO and are excluded from quality allocations. For more information on rating methodologies, please visit the following NRSRO websites: standardandpoors.com and select "Understanding Ratings" under Rating Resources and moodys.com and select "Rating Methodologies" under Research and Ratings. Source: Standard & Poor’s and Moody’s, as applicable.
Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.
An issuer 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.
Junk bonds involve a greater risk of default or price changes due to changes in the issuer’s credit quality.
Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.
Convertible securities may be affected by market interest rates, issuer default, the value of the underlying stock or the right of the issuer to buy back the convertible securities.
The risks of investing in securities of foreign issuers, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
Mortgage- and asset-backed securities 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. Securities may be prepaid at a price less than the original purchase value.
The Fund may invest in privately issued securities, including 144A securities which are restricted (i.e. not publicly traded). The liquidity market for Rule 144A securities may vary, as a result, delay or difficulty in selling such securities may result in a loss to the Fund.
Environmental, social, and governance (ESG) considerations assessed as part of a credit research may vary across types of investments and issuers, and not every ESG factor may be identified or evaluated for investment. Including ESG factors as part of a credit analysis may affect the Fund’s exposure to certain issuers or industries and may not work as intended. Information used to evaluate such factors may not be readily available, complete or accurate, and may vary across providers and issuers. There is no guarantee that the addition of ESG considerations will enhance Fund performance.
The Fund invests in financial instruments that use the London Interbank Offered Rate (“LIBOR”) as a reference or benchmark rate for variable interest rate calculations. LIBOR will be phased out by the end of 2021, and it's anticipated that LIBOR will cease to be published after that time. To assist with the transition, US dollar LIBOR rates will continue to be published until June 2023. There is uncertainty on the effects of the LIBOR transition process, therefore any impact of the LIBOR transition on the Fund or its investments cannot yet be determined. There is no assurance an alternative rate will be similar to, produce the same value or economic equivalence or instruments using the rate will have the same volume or liquidity as LIBOR. Any effects of LIBOR transition and the adoption of alternative rates could result in losses to the Fund.
The fund is subject to certain other risks. Please see the prospectus for more information regarding the risks associated with an investment in the fund.
This link takes you to a site not affiliated with Invesco. The site is for informational purposes only. Invesco does not guarantee nor take any responsibility for any of the content.