Continue to site >
Trending ETFs

Name

As of 04/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.63

$324 M

1.28%

$0.31

1.01%

Vitals

YTD Return

2.8%

1 yr return

5.8%

3 Yr Avg Return

0.2%

5 Yr Avg Return

N/A

Net Assets

$324 M

Holdings in Top 10

43.4%

52 WEEK LOW AND HIGH

$24.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.01%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.63

$324 M

1.28%

$0.31

1.01%

FDATX - Profile

Distributions

  • YTD Total Return 2.8%
  • 3 Yr Annualized Total Return 0.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.14%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Invesco Fundamental Alternatives Fund
  • Fund Family Name
    Invesco
  • Inception Date
    May 24, 2019
  • Shares Outstanding
    N/A
  • Share Class
    R5
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jay Raol

Fund Description

The Fund’s Adviser exercises a flexible strategy in selecting its investments. The flexibility of the Fund’s overall strategy derives from its use of multiple alternative investment strategies to build a portfolio that seeks total return over the long term by investing in instruments believed to have strong risk-adjusted return potential across asset classes. These multiple alternative investment strategies are currently organized into three distinct strategies, described below, with the allocation based on the portfolio managers’ view of the attractiveness of the various strategies and their risks to the Fund, at any given point in time. The Fund’s long and short exposure within each of the strategies may change depending on the portfolio managers’ view of the opportunities available. The Fund will limit its total short sale positions to no more than 40% of its net assets at the time a short sale is entered into. Derivative instruments that provide short market exposure such as options, futures, swaps or forward foreign currency contracts are not deemed to constitute short sale positions for purposes of this limitation. The Fund currently intends to implement its market exposure through derivatives, rather than actual short sale positions (i.e., actual short sales of securities).
Long/Short Equity. Long/Short Equity strategies can include long and short positions in equities, equity-sensitive convertibles and derivatives, including options, futures, swaps, and structured notes.
Long/Short Credit. Long/Short Credit strategies can include long and short positions in a variety of fixed-income securities, including loans, asset-backed securities, credit-sensitive convertibles, investment-grade, below-investment-grade and distressed credit, sovereign debt, and derivatives, including options, futures, swaps, and structured notes.
Long/Short Macro. Long/Short Macro strategies can include long and short positions that provide exposure to interest rates, credit spreads,
sovereign debt, currencies, commodities, volatility, equities and equity indices, and derivatives, including options, futures, swaps, and structured notes.
The Fund’s overall long or short positioning can vary based on market conditions and the Fund may take both long and short positions simultaneously.
To implement the multiple strategies described above, the Fund may hold long and short positions in a variety of instruments, which include:
Equity Securities. The Fund may invest in common stocks of U.S. and foreign companies without regard to the issuer’s location, size, market capitalization or industry sector. The Fund may hold short positions in equity securities of any investment style, including value, core, and growth investing styles.
Fixed Income Securities. The Fund may invest in fixed-income securities, including bonds and notes or other debt securities issued by U.S. and foreign companies and governments, money market instruments, corporate bonds, and convertible bonds. The Fund can invest in investment-grade or below-investment-grade debt securities (commonly referred to as “junk bonds”). The Fund may invest without limit in securities that are rated below-investment-grade and at times may invest substantial amounts of its assets in those securities. Investment-grade debt securities are rated in one of the top four rating categories by nationally recognized statistical rating organizations such as Moody’s Investors Service or S&P Global Ratings. The Fund may also invest in unrated securities, in which case the Fund’s Adviser may internally assign ratings to certain of those securities, after assessing their credit quality, in investment-grade or below investment-grade categories similar to those of nationally recognized statistical rating organizations. There can be no assurance, nor is it intended, that the Adviser’s credit analysis is consistent or comparable with the credit analysis process used by a nationally recognized statistical rating organization. The Fund may also invest in other fixed income securities, including asset-backed securities, mortgage-backed securities, participation interests in loans, and pooled investment entities that invest in loans. The Fund may also invest in floating rate loans (sometimes referred to as “adjustable rate loans”) that hold a senior position in the capital structure of U.S. and foreign corporations, partnerships or other business entities that, under normal circumstances, allow them to have priority of claim ahead of other obligations of a borrower in the event of liquidation. These investments are referred to as “Senior Loans.” Senior Loans may be collateralized or uncollateralized. They typically pay interest at rates that are reset periodically based on a reference benchmark that reflects current interest rates, plus a margin or premium.
Derivatives and Other Assets. The Fund may invest in derivative instruments and other assets, including options, futures, forward contracts, swaps (including on equity and fixed-income securities and indices, commodities, interest rates, currencies and volatility), “structured” notes, mortgage-related securities, equity-linked debt securities, commodity-linked derivatives, and currency derivatives.
The Fund may invest a substantial portion of its assets in foreign securities, including companies in developed and emerging market countries and has no limit on the amount it can invest in such securities.
The portfolio managers place an emphasis on diversifying assets and strategies in seeking return opportunities from within and across each of the three sleeves – Long/Short Equity, Long/Short Credit, and Long/Short Macro. The portfolio managers may also seek to identify defensive investments and strategies, which focus on mitigation of downside risk and have the potential for investment returns that have low correlation to traditional equity securities. With respect to the Long/Short Equity and Long/Short Credit strategies, the portfolio managers generally select securities based upon a factor-based analysis of the underlying companies, industries and indices, along with a top-down macroeconomic overlay. The factors on which the portfolio managers base their analysis are those that are deemed to drive investment returns, such as momentum, value, quality, carry, and low volatility. With respect to the Long/Short Macro strategies, the
portfolio managers generally select securities and asset classes based on a top-down analysis of macroeconomic variables and the expected impact on the securities and asset classes the Fund may invest in.
The portfolio managers typically attempt to allocate in a way that generally provides strong risk-adjusted return potential. In response to changing market, economic, company, and industry-specific conditions and/or valuations and risk allocation fluctuations, the portfolio managers may change the Fund’s allocation to a particular strategy and may also implement new strategies or reduce the Fund’s allocation to any strategy to zero.
The short positions in each strategy currently employed can be obtained through short sales of securities, or through derivative positions. Such short positions can be held for various purposes, including to express views in a particular area of the market, to hedge the Fund’s overall risk, or to hedge a specific position held by the Fund.
The above criteria may vary in particular cases and may change over time. The Fund may sell securities that the portfolio managers believe no longer meet these criteria but is not required to do so.
The Fund may invest up to 25% of its total assets in a Cayman Islands exempted company that is wholly owned and controlled by the Fund (the Subsidiary). The Subsidiary invests in commodity-linked derivatives (including commodity futures, financial futures, options and swap contracts) and exchange-traded funds and other exchange-traded products related to gold or other special minerals (Gold ETFs). The Subsidiary may also invest in certain fixed-income securities and other investments that may serve as margin or collateral for its derivatives positions. Investments in the Subsidiary are intended to provide the Fund with exposure to commodities market returns within the limitations of the federal tax requirements that apply to the Fund. The Fund applies its investment restrictions and compliance policies and procedures, on a look-through basis, to the Subsidiary. The Fund’s investment in the Subsidiary may vary based on the portfolio managers’ use of different types of commodity-linked derivatives, fixed-income securities, Gold ETFs, and other investments. Since the Fund may invest a substantial portion of its assets in the Subsidiary, which may hold certain of the investments described in this prospectus, the Fund may be considered to be investing indirectly in those investments through its Subsidiary. Therefore, references in this prospectus to investments by the Fund also may be deemed to include the Fund’s indirect investments through the Subsidiary.
Read More

FDATX - Performance

Return Ranking - Trailing

Period FDATX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -73.0% 19.4% 69.89%
1 Yr 5.8% -9.1% 86.9% 61.09%
3 Yr 0.2%* -9.5% 16.2% 67.87%
5 Yr N/A* -4.9% 14.4% 73.54%
10 Yr N/A* -0.9% 7.5% 70.21%

* Annualized

Return Ranking - Calendar

Period FDATX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.1% -22.7% 305.1% 66.67%
2022 -9.2% -9.8% 27.3% N/A
2021 -0.5% -20.8% 10.9% N/A
2020 -0.4% -12.4% 29.4% N/A
2019 N/A -10.5% 15.8% N/A

Total Return Ranking - Trailing

Period FDATX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -73.0% 19.4% 69.53%
1 Yr 5.8% -13.4% 86.9% 56.73%
3 Yr 0.2%* -9.5% 16.2% 61.04%
5 Yr N/A* -5.3% 14.4% 68.61%
10 Yr N/A* -0.9% 7.5% 67.02%

* Annualized

Total Return Ranking - Calendar

Period FDATX Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -22.7% 305.1% 66.67%
2022 -6.9% -9.8% 27.3% N/A
2021 2.8% -20.8% 10.9% N/A
2020 1.9% -8.4% 29.4% N/A
2019 N/A -10.2% 18.0% N/A

NAV & Total Return History


FDATX - Holdings

Concentration Analysis

FDATX Category Low Category High FDATX % Rank
Net Assets 324 M 1.5 M 5.01 B 19.93%
Number of Holdings 474 4 4478 32.16%
Net Assets in Top 10 141 M -398 M 2.55 B 29.68%
Weighting of Top 10 43.43% 13.1% 100.0% 19.72%

Top 10 Holdings

  1. Invesco Treasury Portfolio, Institutional Class 25.99%
  2. U.S. Treasury Notes/Bonds 4.89%
  3. U.S. Treasury Notes/Bonds 3.83%
  4. U.S. Treasury Notes 2.61%
  5. U.S. Treasury Notes/Bonds 1.91%
  6. Microsoft Corp. 1.25%
  7. Apple Inc. 0.89%
  8. NVIDIA Corp. 0.72%
  9. Broadcom Inc. 0.72%
  10. Berkshire Hathaway Inc., Class B 0.63%

Asset Allocation

Weighting Return Low Return High FDATX % Rank
Cash
39.75% -6278.21% 410.43% 57.60%
Stocks
35.91% -3.75% 97.95% 46.29%
Bonds
24.76% -326.45% 6347.80% 32.51%
Convertible Bonds
0.43% 0.00% 87.92% 45.94%
Preferred Stocks
0.00% -0.12% 46.97% 65.72%
Other
-0.43% -21.53% 148.54% 31.80%

Stock Sector Breakdown

Weighting Return Low Return High FDATX % Rank
Technology
20.62% 0.00% 39.58% 32.28%
Healthcare
16.94% 0.00% 45.63% 13.78%
Consumer Defense
11.84% 0.00% 13.62% 2.76%
Financial Services
9.64% 0.00% 59.28% 82.28%
Industrials
9.52% 0.00% 21.45% 40.94%
Communication Services
8.67% 0.00% 21.78% 9.84%
Consumer Cyclical
7.90% 0.00% 29.09% 85.83%
Utilities
6.29% 0.00% 9.23% 64.57%
Energy
3.54% 0.00% 100.00% 68.90%
Basic Materials
2.56% 0.00% 27.46% 74.80%
Real Estate
2.48% 0.00% 51.26% 66.54%

Stock Geographic Breakdown

Weighting Return Low Return High FDATX % Rank
US
35.91% -8.85% 91.88% 34.98%
Non US
0.00% -19.62% 42.11% 62.90%

Bond Sector Breakdown

Weighting Return Low Return High FDATX % Rank
Government
36.30% 0.00% 84.29% 18.02%
Cash & Equivalents
26.72% 0.27% 100.00% 42.05%
Corporate
12.85% 0.00% 87.73% 55.83%
Securitized
0.11% 0.00% 56.83% 47.00%
Municipal
0.00% 0.00% 27.33% 57.60%
Derivative
-0.43% 0.00% 88.81% 67.14%

Bond Geographic Breakdown

Weighting Return Low Return High FDATX % Rank
US
20.78% -126.19% 6311.18% 33.22%
Non US
3.98% -382.37% 121.02% 27.92%

FDATX - Expenses

Operational Fees

FDATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.01% 0.29% 31.15% 82.01%
Management Fee 0.84% 0.00% 2.50% 37.81%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

FDATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FDATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FDATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 491.00% 77.02%

FDATX - Distributions

Dividend Yield Analysis

FDATX Category Low Category High FDATX % Rank
Dividend Yield 1.28% 0.00% 4.56% 45.58%

Dividend Distribution Analysis

FDATX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annually

Net Income Ratio Analysis

FDATX Category Low Category High FDATX % Rank
Net Income Ratio 0.14% -2.51% 6.83% 18.35%

Capital Gain Distribution Analysis

FDATX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

FDATX - Fund Manager Analysis

Managers

Jay Raol


Start Date

Tenure

Tenure Rank

Oct 15, 2020

1.62

1.6%

Jay Raol, Portfolio Manager, has been associated with Invesco and/or its affiliates since 2013.

Scott Wolle


Start Date

Tenure

Tenure Rank

Oct 15, 2020

1.62

1.6%

Scott Wolle is a portfolio manager and chief investment officer (CIO) of Invesco Global Asset Allocation. Mr. Wolle joined Invesco in 1999 and became affiliated with the Global Asset Allocation team in 2000. He began his investment management career in 1991 and was with Bank of America prior to joining Invesco. Mr. Wolle earned a Bachelor of Science in finance from Virginia Polytechnic Institute and State University, graduating magna cum laude. He earned a MBA from the Fuqua School of Business at Duke University where he earned the distinction of Fuqua Scholar. He is a CFA charterholder.

Chris Devine


Start Date

Tenure

Tenure Rank

Oct 15, 2020

1.62

1.6%

Chris Devine joined Invesco in 1998 and became affiliated with the Global Asset Allocation team in January 2003. He is responsible for portfolio construction, risk management, trading and derivative management. He began his investment management career in 1996 and was with The Robinson-Humphrey Co. prior to joining Invesco. Mr. Devine earned a Bachelor of Arts degree in economics from Wake Forest University and a Master of Business Administration degree from the University of Georgia. He is a CFA charterholder.

Tarun Gupta


Start Date

Tenure

Tenure Rank

Oct 15, 2020

1.62

1.6%

Scott Hixon


Start Date

Tenure

Tenure Rank

Oct 15, 2020

1.62

1.6%

Scott Hixon joined Invesco in 1994 and became affiliated with the Global Asset Allocation team in 1997. He is responsible for the fundamental research, quantitative modeling and portfolio investment decisions for asset classes and currencies. Mr. Hixon began his investment management career in 1992 and was with SunTrust Bank prior to joining Invesco. He earned a Bachelor of Business Administration in finance, graduating magna cum aude from Georgia Southern University. He earned an M.B.A. in finance from Georgia State University. Mr. Hixon is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67