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Trending ETFs

Name

As of 05/24/2024

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

$9.11

$214 M

3.49%

$0.32

0.41%

Vitals

YTD Return

-0.9%

1 yr return

3.1%

3 Yr Avg Return

-2.7%

5 Yr Avg Return

N/A

Net Assets

$214 M

Holdings in Top 10

34.1%

52 WEEK LOW AND HIGH

$9.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.41%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 207.00%

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 05/24/2024

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

$9.11

$214 M

3.49%

$0.32

0.41%

IOTEX - Profile

Distributions

  • YTD Total Return -0.9%
  • 3 Yr Annualized Total Return -2.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.43%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco Intermediate Bond Factor Fund
  • Fund Family Name
    Invesco
  • Inception Date
    May 24, 2019
  • Shares Outstanding
    N/A
  • Share Class
    R5
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Noelle Corum

Fund Description

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities, and in derivatives and other instruments that have economic characteristics similar to such securities.
The kinds of debt securities in which the Fund can invest include investment grade U.S. corporate and government debt obligations (including securities issued or guaranteed by the U.S. Government or its agencies or federally-chartered entities referred to as “instrumentalities” ), as well as mortgage-backed, commercial mortgage-backed and asset-backed securities.  The Fund’s debt investments may include certain restricted securities, including securities that are only eligible for resale pursuant to Rule 144A under the Securities Act of 1933, as amended.
Under normal market conditions, the Fund will only purchase investment grade debt securities.  “Investment-grade” debt securities are securities rated at or above “BBB-” or “Baa3” by at least one of S&P Global Ratings (S&P) or Moody’s Investors Service (Moody’s), respectively, or that have comparable ratings from other nationally recognized statistical rating organizations (NRSROs) . The Fund may also invest in unrated securities, in which case Invesco Advisers, Inc. (Invesco or the Adviser) may internally assign ratings to certain of those securities, after assessing their credit quality, in investment grade categories similar to those of NRSROs. 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 an NRSRO.
Although the Fund will only purchase investment grade debt securities (or unrated securities that the Adviser has assessed as investment grade), it may continue to hold a security whose credit has been downgraded or, in the case of an unrated security, after the Adviser has changed its assessment of the security’s quality.  As a result, credit rating downgrades or other market fluctuations may cause the Fund’s holdings of
below-investment grade, fixed income securities (also known as “junk” bonds) to become significant for an extended period of time.
The Fund seeks to maintain a dollar-weighted average effective portfolio maturity of four to ten years; however, it may purchase securities that have short, intermediate or long maturities.
The Fund may purchase securities of issuers of any market capitalization.
The Fund is managed by Invesco’s Fixed Income Factor Team (FIF).  In selecting securities for the portfolio, the Fund’s portfolio managers and FIF analysts utilize a factor-based strategy that involves systematically targeting securities exhibiting quantifiable issuer characteristics (or “factors”) that FIF believes will have higher returns than other fixed income securities with comparable characteristics over market cycles.  The portfolio managers will consider selling securities that no longer exhibit these factors.  In practice, this means the Fund may have higher allocations to: value bonds (bonds that have high spreads relative to other securities of similar credit quality and/or sector); low volatility bonds (bonds that have lower levels of price volatility); and high carry bonds (bonds with higher absolute yield or spread).  The portfolio managers expect to include additional factors or modify the factors used to build the Fund’s portfolio as they deem appropriate. The portfolio managers will also seek to minimize some of the residual risks associated with the higher allocations to the types of bonds mentioned above (such as duration and sector concentration), including through the use of derivatives, as described below.
The Fund may invest in foreign debt securities, including securities issued by foreign governments or companies in developing and emerging markets, i.e., those that are generally in the early stages of their industrial cycles, but may only invest up to 25% of its net assets in securities denominated in non-U.S. dollar currencies of which no more than 10% may remain unhedged. The portfolio managers may use derivatives to seek to hedge any foreign currency exposure.
The Fund may invest in U.S. agency mortgage pass-through securities and may seek to obtain such exposure primarily through the use of standardized agreements for forward or future delivery in which the actual mortgage pools to be delivered are not specified until shortly prior to settlement (to be announced (TBA) transactions).
The Fund may also use certain types of derivative investments for investment purposes or for hedging, including: options, futures, forward contracts, swaps, “structured” notes and other types of derivatives.
The Fund can use swap contracts, including interest rate swaps, to hedge or adjust its exposure to interest rates. The Fund can also use swap contracts, including credit default swaps, to create long or short exposure to corporate or sovereign debt securities. The Fund can further use swap contracts, including credit default index swaps, to hedge credit risk or take a position on a basket of credit entities; total return swaps, to gain exposure to a reference asset; and volatility swaps to adjust the volatility profile of the Fund.
The Fund can use options, including currency options, to seek alpha (return on investments in excess of the benchmark index) or to mitigate risk and to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated. The Fund can also use credit default swap options to gain the right to enter into a credit default swap at a specified future date. The Fund can further use swaptions (options on swaps) to manage interest rate risk; and options on bond or rate futures to manage interest rate exposure.
The Fund can use futures contracts, including interest rate futures and Treasury futures, to increase or reduce its exposure to interest rate changes. The Fund can also use currency futures to increase or decrease its exposure to foreign currencies. The Fund can engage in foreign currency transactions either on a spot basis (i.e., for prompt delivery and settlement at the rate prevailing in the currency exchange market at the time) or through forward foreign currency contracts to gain or mitigate the risk of foreign currency exposure.
The Fund may purchase and sell securities on a when-issued and delayed delivery basis, which means that the Fund buys or sells a security with payment and delivery taking place in the future. The payment obligation and the interest rate are fixed at the time the Fund enters into the commitment. No income accrues on such securities until the date the Fund actually takes delivery of the securities.
In attempting to meet its investment objective or to manage subscription and redemption requests, the Fund may engage in active and frequent trading of portfolio securities.
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IOTEX - Performance

Return Ranking - Trailing

Period IOTEX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -8.4% 5.4% 33.97%
1 Yr 3.1% -6.5% 14.8% 49.45%
3 Yr -2.7%* -10.8% 25.4% 25.08%
5 Yr N/A* -7.1% 190.9% 47.90%
10 Yr N/A* -2.7% 73.4% 9.54%

* Annualized

Return Ranking - Calendar

Period IOTEX Return Category Return Low Category Return High Rank in Category (%)
2023 3.1% -16.2% 8.1% 10.07%
2022 -16.5% -34.7% 131.9% 66.84%
2021 -3.0% -11.6% 4.4% 34.52%
2020 1.7% -10.1% 946.1% 90.10%
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period IOTEX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -8.4% 5.4% 33.97%
1 Yr 3.1% -6.5% 14.8% 49.45%
3 Yr -2.7%* -10.8% 25.4% 25.08%
5 Yr N/A* -7.1% 190.9% 43.88%
10 Yr N/A* -2.7% 73.4% 9.10%

* Annualized

Total Return Ranking - Calendar

Period IOTEX Return Category Return Low Category Return High Rank in Category (%)
2023 8.4% -11.3% 11.0% 2.11%
2022 -13.0% -32.2% 131.9% 31.51%
2021 -0.8% -9.4% 9.2% 42.90%
2020 8.1% -1.9% 1009.0% 54.84%
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History


IOTEX - Holdings

Concentration Analysis

IOTEX Category Low Category High IOTEX % Rank
Net Assets 214 M 2.9 M 314 B 78.56%
Number of Holdings 465 1 17889 65.76%
Net Assets in Top 10 73.1 M 1.57 M 34.8 B 74.40%
Weighting of Top 10 34.09% 4.4% 134.1% 24.09%

Top 10 Holdings

  1. U.S. Treasury Notes/Bonds 5.42%
  2. U.S. Treasury Notes 4.52%
  3. U.S. Treasury Notes/Bonds 3.98%
  4. U.S. Treasury Notes 3.37%
  5. U.S. Treasury Notes 3.29%
  6. U.S. Treasury Notes/Bonds 3.21%
  7. Uniform Mortgage-Backed Securities, TBA 2.70%
  8. Uniform Mortgage-Backed Securities, TBA 2.65%
  9. U.S. Treasury Notes/Bonds 2.57%
  10. U.S. Treasury Notes 2.39%

Asset Allocation

Weighting Return Low Return High IOTEX % Rank
Bonds
116.12% 0.00% 215.98% 7.31%
Cash
2.47% -54.51% 87.74% 56.73%
Convertible Bonds
1.51% 0.00% 7.93% 47.42%
Stocks
0.43% 0.00% 99.83% 10.62%
Other
0.02% -10.23% 50.66% 81.73%
Preferred Stocks
0.00% 0.00% 74.98% 39.66%

Stock Sector Breakdown

Weighting Return Low Return High IOTEX % Rank
Utilities
0.00% 0.00% 100.00% 49.67%
Technology
0.00% 0.00% 43.45% 35.33%
Real Estate
0.00% 0.00% 99.26% 36.00%
Industrials
0.00% 0.00% 48.31% 40.33%
Healthcare
0.00% 0.00% 17.70% 42.33%
Financial Services
0.00% 0.00% 100.00% 52.00%
Energy
0.00% 0.00% 100.00% 69.00%
Communication Services
0.00% 0.00% 100.00% 52.00%
Consumer Defense
0.00% 0.00% 99.67% 33.33%
Consumer Cyclical
0.00% 0.00% 100.00% 42.00%
Basic Materials
0.00% 0.00% 100.00% 0.67%

Stock Geographic Breakdown

Weighting Return Low Return High IOTEX % Rank
US
0.43% 0.00% 99.83% 10.64%
Non US
0.00% 0.00% 86.52% 21.08%

Bond Sector Breakdown

Weighting Return Low Return High IOTEX % Rank
Government
37.70% 0.00% 86.23% 22.55%
Corporate
33.15% 0.00% 100.00% 42.67%
Securitized
18.16% 0.00% 98.40% 84.83%
Cash & Equivalents
2.47% 0.00% 83.04% 52.71%
Derivative
0.02% -9.72% 50.66% 52.81%
Municipal
0.00% 0.00% 100.00% 77.45%

Bond Geographic Breakdown

Weighting Return Low Return High IOTEX % Rank
US
116.12% 0.00% 215.98% 6.43%
Non US
0.00% 0.00% 33.48% 46.99%

IOTEX - Expenses

Operational Fees

IOTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.41% 0.01% 39.10% 82.54%
Management Fee 0.25% 0.00% 1.76% 14.40%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

IOTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

IOTEX 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.

IOTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 207.00% 2.00% 493.39% 70.06%

IOTEX - Distributions

Dividend Yield Analysis

IOTEX Category Low Category High IOTEX % Rank
Dividend Yield 3.49% 0.00% 10.11% 63.03%

Dividend Distribution Analysis

IOTEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

IOTEX Category Low Category High IOTEX % Rank
Net Income Ratio 1.43% -1.28% 4.79% 67.02%

Capital Gain Distribution Analysis

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

Distributions History

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IOTEX - Fund Manager Analysis

Managers

Noelle Corum


Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

Noelle Corum, Portfolio Manager, has been associated with Invesco and/or its affiliates since 2010.

James Ong


Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

James Ong is a Senior Macro Strategist and a Derivative Portfolio Manager for Invesco Fixed Income (IFI). Mr. Ong contributes economic and market analysis to the macro research platform, in addition to leading the IFI derivative strategy and overseeing derivatives held in IFI portfolios. Mr. Ong began his investment career in 2001. Prior to joining Invesco in 2014, he was a senior vice president, a senior portfolio manager and a senior trader at Hartford Investment Management Company. Mr. Ong earned his BA degree in economics from Middlebury College. He is a Chartered Financial Analyst® (CFA) charterholder.

Jay Raol


Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

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

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.78 1.16