Ticker: VKLMX (Class A)

Invesco Intermediate Term Municipal Income Fund

Invests primarily in intermediate municipal bonds that are investment grade at the time of purchase.

Reasons to invest

The Invesco Intermediate Term Municipal Income Fund seeks to provide tax-free income by primarily purchasing intermediate-term investment grade and high yield bonds that are exempt from federal personal income taxes. As one of the largest municipal bond managers, we use our size and deep experience to provide investors consistent access to bond issues.

4-star Morningstar rating - Muni National Interm Category

As of 3/31/2024 the Fund had an overall rating, based on risk-adjusted returns, of 4 stars out of 261 funds and was rated 4 stars out of 261 funds, 3 stars out of 238 funds and 4 stars out of 177 funds for the 3-, 5- and 10-year periods, respectively.


Get timely answers to important questions regarding this product.

Municipal bonds are debt obligations issued by states, cities, counties, and other issuer entities to fund public projects such as schools, highways, and hospitals. Investors in municipal bonds receive interest payments from the issuer and the return of principal on a specific maturity date.

Intermediate-term bonds have a duration somewhere between short-term and long-term bonds, typically between three and 10 years.

The income on municipal bonds is typically exempt from federal taxes, as well as potentially from state and local taxes. The tax advantages of municipal bonds make them attractive relative to taxable bonds with equivalent yields, especially for investors in higher tax brackets.

VKLMX may invest up to 35% in below investment grade and non-rated bonds, which may allow for more flexibility and opportunities.

Explore related funds

To learn more about our municipal fixed income offerings, explore the funds below.

  • US Fixed Income


    Mutual Fund

    Invesco Municipal Income Fund

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  • US Fixed Income


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    Invesco Short Term Municipal Fund

    Fixed Income


  • The Fund’s investment objective is to provide investors with a high level of current income exempt from federal income tax, consistent with preservation of capital.

  • 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. ©2024 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.

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    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.comAlthough 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.