Objective & Strategy
The fund seeks capital appreciation and current income by investing primarily in income-producing equity instruments (including common stocks, preferred stocks and convertible securities) and investment-grade fixed-income securities.
Management team
Top Equity Holdings | View all
% of Total Assets | |
---|---|
Wells Fargo | 2.70 |
ConocoPhillips | 1.92 |
Bank of America | 1.81 |
American International | 1.72 |
General Motors 'C' | 1.70 |
Exxon Mobil | 1.68 |
Merck | 1.58 |
Parker-Hannifin | 1.56 |
CBRE 'A' | 1.55 |
Citizens Financial | 1.31 |
May not equal 100% due to rounding.
Holdings are subject to change and are not buy/sell recommendations.
Average Annual Returns (%)
Incept. Date |
Max Load (%) |
Since Incept. (%) |
YTD (%) | 1Y (%) | 3Y (%) | 5Y (%) | 10Y (%) | |
---|---|---|---|---|---|---|---|---|
NAV | 06/01/2010 | N/A | 8.73 | 1.86 | -5.20 | 10.06 | 5.97 | 7.93 |
NAV | 06/01/2010 | N/A | 8.69 | -7.51 | -7.51 | 6.46 | 5.62 | 8.40 |
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.
Annualized Benchmark Returns
Index Name | 1 Mo (%) | 3 Mo (%) | 1Y (%) | 3Y (%) | 5Y (%) | 10Y (%) |
---|---|---|---|---|---|---|
Bloomberg US Government and Credit Total Return Index | -2.59 | -0.14 | -10.06 | -3.89 | 0.73 | 1.22 |
Russell 1000 Value Index | -3.53 | -2.62 | -2.81 | 10.96 | 7.22 | 9.60 |
Bloomberg US Government and Credit Total Return Index | -0.48 | 1.80 | -13.58 | -2.57 | 0.21 | 1.16 |
Russell 1000 Value Index | -4.03 | 12.42 | -7.54 | 5.96 | 6.67 | 10.29 |
Source: FactSet Research Systems Inc.
Source: RIMES Technologies Corp.
An investment cannot be made directly in an index.
Expense Ratio per Prospectus
Management Fee | 0.38 |
12b-1 Fee | N/A |
Other Expenses | 0.17 |
Interest/Dividend Exp | N/A |
Total Other Expenses | 0.17 |
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) | 0.01 |
Total Annual Fund Operating Expenses | 0.56 |
Contractual Waivers/Reimbursements | -0.01 |
Net Expenses - PER PROSPECTUS | 0.55 |
Additional Waivers/Reimbursements | N/A |
Net Expenses - With Additional Fee Reduction | 0.55 |
Historical Prices
Date | Net Asset Value ($) | Public Offering Price ($) |
---|---|---|
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Distributions
Capital Gains | Reinvestment Price ($) |
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---|---|---|---|---|
Ex-Date | Income | Short Term | Long Term | |
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Sector Breakdown
Holdings | % of Total Net Assets |
---|---|
CASH/OTHER | 5.30 |
Communication Services | 7.40 |
Consumer Discretionary | 5.30 |
Consumer Staples | 3.30 |
Energy | 6.00 |
Financials | 14.40 |
Health Care | 11.60 |
Industrials | 8.00 |
Information Technology | 10.00 |
Materials | 1.70 |
Real Estate | 1.70 |
Utilities | 1.70 |
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.
Fund Characteristics
3-Year Alpha | N/A% |
3-Year Beta | N/A |
3-Year R-Squared | N/A |
3-Year Sharpe Ratio | 0.53 |
3-Year Standard Deviation | 17.02 |
Total Assets | $1,163,395,197.00 |
Active Shares
|
N/A |
Source: RIMES Technologies Corp.,StyleADVISOR
Benchmark: N/A
Top Equity Holdings | View all
% of Total Assets | |
---|---|
Wells Fargo | 2.70 |
ConocoPhillips | 1.92 |
Bank of America | 1.81 |
American International | 1.72 |
General Motors 'C' | 1.70 |
Exxon Mobil | 1.68 |
Merck | 1.58 |
Parker-Hannifin | 1.56 |
CBRE 'A' | 1.55 |
Citizens Financial | 1.31 |
May not equal 100% due to rounding.
Holdings are subject to change and are not buy/sell recommendations.
Top Industries
% of Total Assets | |
---|---|
Pharmaceuticals | 5.70 |
Diversified Banks | 5.61 |
Oil & Gas Exploration & Production | 3.46 |
Semiconductors | 3.20 |
Investment Banking & Brokerage | 3.16 |
Cable & Satellite | 3.02 |
Integrated Oil & Gas | 2.99 |
Health Care Equipment | 2.22 |
Application Software | 2.19 |
Aerospace & Defense | 2.15 |
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.
Fund Documents
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:
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. The value of
the Fund’s investments may go up or down due to general market
conditions that are not specifically related to the particular issuer, such as
real or perceived adverse economic conditions, changes in the general
outlook for revenues or corporate earnings, changes in interest or currency
rates, regional or global instability, natural or environmental disasters,
widespread disease or other public health issues, war, military conflict, acts
of terrorism or adverse investor sentiment generally. 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.
Investing in Stocks Risk. The value of the Fund’s portfolio may be
affected by changes in the stock markets. Stock markets may experience
significant short-term volatility and may fall or rise sharply at times. Adverse
events in any part of the equity or fixed-income markets may have
unexpected negative effects on other market segments. Different stock
markets may behave differently from each other and U.S. stock markets
may move in the opposite direction from one or more foreign stock markets.
The prices of individual stocks generally do not all move in the same
direction at the same time. However, individual stock prices tend to go up
and down more dramatically than those of certain other types of
investments, such as bonds. A variety of factors can negatively affect the
price of a particular company’s stock. These factors may include, but are not
limited to: poor earnings reports, a loss of customers, litigation against the
company, general unfavorable performance of the company’s sector or
industry, or changes in government regulations affecting the company or its
industry. To the extent that securities of a particular type are emphasized (for
example foreign stocks, stocks of small- or mid-cap companies, growth or
value stocks, or stocks of companies in a particular industry), fund share
values may fluctuate more in response to events affecting the market for
those types of securities.
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.
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.
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. Convertible securities may be
rated below investment grade.
Zero Coupon or Pay-In-Kind Securities Risk. The value, interest rates,
and liquidity of non-cash paying instruments, such as zero coupon and
pay-in-kind securities, are subject to greater fluctuation than other types of
securities. The higher yields and interest rates on pay-in-kind securities
reflect the payment deferral and increased credit risk associated with such
instruments and that such investments may represent a higher credit risk
than loans that periodically pay interest.
Small- and Mid-Capitalization Companies Risk. Investing in securities of
small- and mid-capitalization companies involves greater risk than
customarily is associated with investing in larger, more established
companies. Stocks of small- and mid-capitalization companies tend to be
more vulnerable to changing market conditions, may have little or no
operating history or track record of success, and may have more limited
product lines and markets, less experienced management and fewer
financial resources than larger companies. These companies’ securities may
be more volatile and less liquid than those of more established companies.
They may be more sensitive to changes in a company’s earnings
expectations and may experience more abrupt and erratic price movements.
Smaller companies’ securities often trade in lower volumes and in many
instances, are traded over-the-counter or on a regional securities exchange,
where the frequency and volume of trading is substantially less than is
typical for securities of larger companies traded on national securities
exchanges. Therefore, the securities of smaller companies may be subject
to wider price fluctuations and it might be harder for the Fund to dispose of
its holdings at an acceptable price when it wants to sell them. Since small-
and mid-cap companies typically reinvest a high proportion of their earnings
in their business, they may not pay dividends for some time, particularly if
they are newer companies. It may take a substantial period of time to realize
a gain on an investment in a small- or mid-cap company, if any gain is
realized at all.
Rights and Warrants Risk. Warrants may be significantly less valuable or
worthless on their expiration date and may also be postponed or terminated
early, resulting in a partial or total loss. Rights are similar to warrants, but
normally have a short duration and are distributed directly by the issuer to
its shareholders. Rights and warrants have no voting rights, receive no
dividends and have no rights with respect to the assets of the issuer.
Warrants and rights are highly volatile and, therefore, more susceptible to
sharp declines in value than the underlying security might be. The market
for rights or warrants may be very limited and it may be difficult to sell them
promptly at an acceptable price.
Changing Fixed Income Market Conditions Risk. The current 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 near historical lows. Increases 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.
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. Foreign companies generally may be subject to less stringent
regulations than U.S. companies, including financial reporting requirements
and auditing and accounting controls, and may therefore be more
susceptible to fraud or corruption. There may be less public information
available about foreign companies than U.S. companies, making it difficult
to evaluate those foreign companies. Unless the Fund has hedged its
foreign currency exposure, 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.
Depositary Receipts Risk. Investing in depositary receipts involves the
same risks as direct investments in foreign securities. In addition, the
underlying issuers of certain depositary receipts are under no obligation to
distribute shareholder communications or pass through any voting rights
with respect to the deposited securities to the holders of such receipts. The
Fund may therefore receive less timely information or have less control than
if it invested directly in the foreign issuer.
Sector Focus Risk. The Fund may from time to time have a significant
amount of its assets invested in one market sector or group of related
industries. In this event, the Fund’s performance will depend to a greater
extent on the overall condition of the sector or group of industries and there
is increased risk that the Fund will lose significant value if conditions
adversely affect that sector or group of industries.
REIT Risk/Real Estate Risk. Investments in real estate related
instruments may be adversely affected by economic, legal, cultural,
environmental or technological factors that affect property values, rents or
occupancies. Shares of real estate related companies, which tend to be
small- and mid-cap companies, may be more volatile and less liquid than
larger companies. If a real estate related company defaults on certain types
of debt obligations held by the Fund, the Fund may acquire real estate
directly, which involves additional risks such as environmental liabilities;
difficulty in valuing and selling the real estate; and economic or regulatory
changes.
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 holding a
position in 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 or the
anticipated value of the underlying asset, 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. Derivatives strategies may not always be
successful. For example, 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.
Active Trading Risk. Active trading of portfolio securities may result in
added expenses and a lower return.
Value Investing Risk. Value investing entails the risk that if the market
does not recognize that a selected security is undervalued, the prices of that
security might not appreciate as anticipated. A value approach could also
result in fewer investments that increase rapidly during times of market
gains and could cause a fund to underperform funds that use a growth or
non-value approach to investing. Value investing has gone in and out of
favor during past market cycles and when value investing is out of favor or
when markets are unstable, the securities of “value” companies may
underperform the securities of “growth” companies or the overall stock
market.
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. 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.
Important information about Variable Products
This content is provided for informational and/or educational purposes only and does not constitute a recommendation of the suitability of any investment strategy for a particular investor. Investors should consult a financial and/or tax professional before making any investment decisions if they are uncertain whether an investment is suitable for them.
Invesco Variable Insurance Funds are available solely as underlying investment options for variable life insurance and variable annuity products issued or administered by life insurance companies. This information is provided to help investors consider the objectives, risks, charges, and expenses associated with these underlying investment option(s). Investors should contact their investment or insurance professional for important information about the variable life insurance and variable annuity products that hold these investment options. Invesco Distributors, Inc. does not offer any variable products.
Shares of Invesco Variable Insurance Funds have no sales charge and are offered at net asset value (“NAV”). These Funds are available solely as an underlying investment option for variable life insurance and variable annuity products issued or administered by life insurance companies. The insurance company actually owns the Shares of the Funds. Investors do not buy, sell or exchange Shares of the Funds directly, but choose investment options through a variable annuity contract or variable life insurance policy. The insurance company then invests in, sells or exchanges the Shares of the Fund according to the investment options chosen by the investor. Fund returns do not reflect fees and expenses of any variable annuity contract or variable life insurance policy and would be lower if they did. Those expenses and fees are determined by the offering insurance company and will vary. Please refer to specific performance reporting from the issuing insurance company for returns that reflect such charges.
Withdrawals of taxable amounts from variable annuity contracts prior to age 59½ may be subject to an additional 10% federal tax penalty as well as income tax. Amounts withdrawn from a variable insurance contract will reduce the death benefit and withdrawals of earnings will be subject to income tax.
Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See the current prospectus for more information.
The returns for the Series shown do not reflect the deduction of fees and expenses associated with variable products, such as mortality and expense risk charges, separate account charges, and sales charges imposed by insurance company separate accounts. Such fees and expenses would reduce the overall returns shown and vary by insurance companies. Please refer to the variable product's annual report for performance that reflects the deduction of the fees, expenses and other charges imposed by insurance company separate accounts.
No representation is made, and no assurance can be given, that any investment's results will be comparable to the investment results of any other product with similar investment objectives and policies, including products with the same investment professional or manager. Differences in portfolio size, investments held, contract and portfolio expenses, and other factors, can be expected to affect performance.
About Variable Products
Issued by insurance companies, variable annuity and variable life insurance contracts allow investors to accumulate money on a tax deferred basis for long-term financial goals. Mortality and expense risk charges (which compensate the insurance company for insurance risks it assumes under the contract), surrender charges (typically levied if a contract holder cancels the contract within a certain period following initial purchase), and an annual maintenance charge are among the fees and expenses typically associated with these types of variable products.
Please keep in mind that any income guarantees are subject to the claims-paying ability of the issuing insurance company, and that contract owners have options when a contract's payout phase begins. Generally, investors may take their money in a lump sum, make discretionary or systematic distributions, or they can annuitize.
Before investing, investors should carefully read their variable annuity or life insurance contract and the associated variable product prospectus, as well as the underlying fund prospectus(es), and carefully consider the investment objectives, risks, charges, and expenses. For this and more complete information about the underlying funds, investors should ask the offering insurance company.