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Name

As of 10/04/2024

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

INVESCO Short Term Bond Fund

ISTFX | Fund

$8.12

$2.08 B

5.18%

$0.42

0.40%

Vitals

YTD Return

5.4%

1 yr return

8.4%

3 Yr Avg Return

1.8%

5 Yr Avg Return

2.0%

Net Assets

$2.08 B

Holdings in Top 10

14.8%

52 WEEK LOW AND HIGH

$8.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 141.00%

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 10/04/2024

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

INVESCO Short Term Bond Fund

ISTFX | Fund

$8.12

$2.08 B

5.18%

$0.42

0.40%

ISTFX - Profile

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 1.8%
  • 5 Yr Annualized Total Return 2.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.74%
DIVIDENDS
  • Dividend Yield 5.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    INVESCO Short Term Bond Fund
  • Fund Family Name
    INVESCOFDS
  • Inception Date
    Sep 24, 2012
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Charles Burge

Fund Description

The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in fixed-income securities, and in derivatives and other instruments that have economic characteristics similar to such securities.
The Fund invests primarily in investment grade fixed-income securities, including corporate bonds, U.S. Treasury and agency securities and mortgage-backed and asset-backed securities. Investment grade securities are: (i) securities rated BBB- or higher by S&P Global Ratings (S&P) or Baa3 or higher by Moody’s Investors Service, Inc. (Moody’s) or an equivalent rating by another nationally recognized statistical rating organization (NRSRO), (ii) securities with comparable short-term NRSRO ratings, or (iii) unrated securities determined by Invesco Advisers, Inc. (Invesco or the Adviser) to be of comparable quality, each at the time of purchase.
The Fund may invest up to 25% of its net assets in foreign debt securities, including debt securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles. The Fund may invest up to 20% of its net assets in currencies and securities, including foreign currency derivatives, denominated in currencies other than the U.S. dollar. The Fund may also invest in securities not considered foreign securities that carry foreign credit exposure. The Fund may invest up to 20% of its net assets in securities considered below investment grade. Below investment grade securities are commonly referred to as junk bonds.
The Fund may purchase mortgage-backed and asset-backed securities such as collateralized mortgage obligations (CMOs), collateralized loan obligations (CLOs) and collateralized debt obligations (CDOs) of any rating, which are counted toward the 80% investment requirement.
The Fund may invest in illiquid or thinly traded investments. The Fund may also invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933, as amended. The Fund may also purchase municipal securities. The Fund’s investments may include securities that do not produce immediate cash income, such as zero coupon securities and payment-in-kind securities.
The Fund may purchase and sell securities on a when-issued and delayed delivery basis, which means that the Fund may buy or sell a security with payment and delivery taking place in the future. The Fund may also engage in “to be announced” (TBA) transactions, which are transactions in which a fund buys or sells mortgage-backed securities on a forward commitment basis. The Fund may engage in short sales of TBA
mortgages, including short sales on TBA mortgages the Fund does not own. Generally, the Fund will sell a TBA mortgage short to (1) take advantage of an expected decline in mortgage valuations or (2) to hedge against the potential underperformance of the mortgage sector.
The Fund can invest in derivative instruments including swap contracts, options, futures contracts and forward foreign currency contracts.
The Fund can use swap contracts, including interest rate swaps, to seek 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 credit default index swaps to seek 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 to seek investment return 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, to increase or reduce its (create long or short) exposure to interest rate changes. The Fund can also use currency futures to increase or decrease its exposure to foreign currencies and to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated.
The Fund can engage in foreign currency transactions either on a spot basis or through forward foreign currency contracts to gain or mitigate the risk of foreign currency exposure. Spot contracts allow for prompt delivery and settlement at the rate prevailing in the currency exchange market at the time.
The Fund utilizes active duration (i.e., making investments to reduce or increase the sensitivity of the Fund’s portfolio to interest rate changes) and yield curve positioning (i.e., making investments that allow the Fund to benefit from varying interest rates) for risk management and for generating alpha.
The portfolio managers utilize the Bloomberg 1-3 Year Government/Credit Index as a reference in structuring the portfolio, but the Fund is not an index fund. The portfolio managers decide on appropriate risk factors such as sector and issuer weightings and duration relative to this index. The portfolio managers then employ proprietary technology to calculate appropriate position sizes for each of these risk factors. In doing so, the portfolio managers consider recommendations from a globally interconnected team of specialist decision makers in positioning the Fund to generate alpha.
The portfolio managers generally rely upon a team of market-specific specialists for trade execution and for assistance in determining efficient ways (in terms of cost-efficiency and security selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes.
Specialists employ a bottom-up approach to recommend larger or smaller exposure to specific risk factors. In general, specialists will look for attractive risk-reward opportunities and securities that best enable the Fund to pursue those opportunities. The portfolio managers consider the recommendations of these market-specific specialists in adjusting the Fund’s risk exposures and security selection on a real-time basis using proprietary communication technology.
Decisions to purchase or sell securities are determined by the relative value considerations of the portfolio managers that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (such as duration, yield curve positioning and sector exposure), a
need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality or general liquidity needs of the Fund.
The Fund will attempt to maintain a dollar-weighted average portfolio maturity and duration of less than three years, however due to events affecting the bond markets and interest rate changes the maturity and duration of the portfolio might not meet the target at all times.
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.
The credit research process utilized by the Fund to implement its investment strategy in pursuit of its investment objective considers factors that may include, but are not limited to, an issuer’s operations, capital structure and environmental, social and governance (“ESG”) considerations. Credit quality analysis for certain issuers therefore may consider whether any ESG factors pose a material financial risk or opportunity to an issuer. The portfolio managers may determine that ESG considerations are not material to certain issuers or types of investments held by the Fund. In addition, not all issuers or investments in the Fund may undergo a credit quality analysis that considers ESG factors, and not all investments held by the Fund will rate strongly on ESG criteria.
Read More

ISTFX - Performance

Return Ranking - Trailing

Period ISTFX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% 2.9% 16.1% 25.29%
1 Yr 8.4% 4.7% 25.9% 45.44%
3 Yr 1.8%* -5.0% 4.5% 33.08%
5 Yr 2.0%* -3.5% 5.1% 37.30%
10 Yr 1.7%* -18.9% 170.5% 52.71%

* Annualized

Return Ranking - Calendar

Period ISTFX Return Category Return Low Category Return High Rank in Category (%)
2023 1.1% -1.6% 7.6% 74.05%
2022 -6.8% -17.7% -2.6% 42.91%
2021 -1.6% -4.0% 4.4% 49.30%
2020 0.9% -7.1% 7.6% 83.88%
2019 2.1% -2.3% 9.3% 38.61%

Total Return Ranking - Trailing

Period ISTFX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% 2.9% 16.1% 25.29%
1 Yr 8.4% 4.7% 25.9% 45.44%
3 Yr 1.8%* -5.0% 4.5% 33.08%
5 Yr 2.0%* -3.5% 5.1% 37.30%
10 Yr 1.7%* -18.9% 170.5% 52.71%

* Annualized

Total Return Ranking - Calendar

Period ISTFX Return Category Return Low Category Return High Rank in Category (%)
2023 6.2% 1.8% 15.2% 32.82%
2022 -4.3% -17.3% -1.3% 35.53%
2021 0.3% -2.7% 7.7% 37.72%
2020 3.8% -2.4% 14.5% 63.47%
2019 5.5% 0.6% 12.6% 25.32%

NAV & Total Return History

ISTFX - Holdings

Concentration Analysis

ISTFX Category Low Category High ISTFX % Rank
Net Assets 2.08 B 14.5 K 57.3 B 34.41%
Number of Holdings 729 2 8314 29.66%
Net Assets in Top 10 295 M 1.02 M 7.47 B 46.58%
Weighting of Top 10 14.83% 1.9% 112.6% 77.00%

Top 10 Holdings

  1. Invesco Private Prime Fund 5.27%
  2. Invesco Private Government Fund 1.97%
  3. BX Trust, Series 2021-LGCY, Class A 1.24%
  4. BAMLL Commercial Mortgage Securities Trust, Series 2015-200P, Class A 0.97%
  5. Avis Budget Rental Car Funding (AESOP) LLC, Series 2022-5A, Class A 0.96%
  6. Energy Transfer L.P. 0.91%
  7. Invesco Treasury Portfolio, Institutional Class 0.91%
  8. Ford Motor Credit Co. LLC 0.91%
  9. U.S. Treasury Notes/Bonds 0.89%
  10. Invesco Government Agency Portfolio, Institutional Class 0.79%

Asset Allocation

Weighting Return Low Return High ISTFX % Rank
Bonds 		91.12% 0.00% 131.20% 38.40%
Cash 		9.52% -20.59% 71.38% 16.54%
Other 		5.98% -0.97% 71.57% 53.80%
Convertible Bonds 		3.34% 0.00% 27.71% 39.24%
Preferred Stocks 		0.32% 0.00% 24.12% 9.89%
Stocks 		0.01% 0.00% 99.91% 23.00%

Stock Sector Breakdown

Weighting Return Low Return High ISTFX % Rank
Utilities 		0.00% 0.00% 81.48% 88.46%
Technology 		0.00% 0.00% 24.45% 87.52%
Real Estate 		0.00% 0.00% 8.31% 87.65%
Industrials 		0.00% 0.00% 100.00% 88.05%
Healthcare 		0.00% 0.00% 23.11% 87.52%
Financial Services 		0.00% 0.00% 100.00% 16.91%
Energy 		0.00% 0.00% 100.00% 90.87%
Communication Services 		0.00% 0.00% 65.64% 88.59%
Consumer Defense 		0.00% 0.00% 21.37% 87.65%
Consumer Cyclical 		0.00% 0.00% 10.75% 88.19%
Basic Materials 		0.00% 0.00% 22.71% 87.79%

Stock Geographic Breakdown

Weighting Return Low Return High ISTFX % Rank
US 		0.01% 0.00% 99.91% 22.43%
Non US 		0.00% 0.00% 2.07% 76.81%

Bond Sector Breakdown

Weighting Return Low Return High ISTFX % Rank
Corporate 		67.74% 0.00% 99.82% 8.38%
Securitized 		26.88% 0.00% 97.27% 41.52%
Cash & Equivalents 		9.52% 0.00% 71.38% 14.64%
Government 		2.88% 0.00% 73.63% 86.86%
Derivative 		0.03% -0.44% 27.90% 27.76%
Municipal 		0.00% 0.00% 14.41% 88.95%

Bond Geographic Breakdown

Weighting Return Low Return High ISTFX % Rank
US 		91.12% 0.00% 131.20% 34.03%
Non US 		0.00% 0.00% 82.20% 80.80%

ISTFX - Expenses

Operational Fees

ISTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.40% 0.01% 3.24% 80.15%
Management Fee 0.32% 0.00% 1.19% 50.76%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.41% N/A

Sales Fees

ISTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

ISTFX 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.

ISTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 141.00% 2.00% 500.00% 76.18%

ISTFX - Distributions

Dividend Yield Analysis

ISTFX Category Low Category High ISTFX % Rank
Dividend Yield 5.18% 0.00% 11.11% 6.46%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

ISTFX Category Low Category High ISTFX % Rank
Net Income Ratio 1.74% -1.27% 4.98% 17.41%

Capital Gain Distribution Analysis

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

Distributions History

View More +

ISTFX - Fund Manager Analysis

Managers

Charles Burge

Start Date

Tenure

Tenure Rank

Jan 14, 2009

13.38

13.4%

Chuck Burge is a Senior Portfolio Manager with Invesco Fixed Income. Mr. Burge joined Invesco in 2002 as a portfolio manager and has held various positions with increased responsibility within the Taxable Investment team. He assumed fund management responsibilities in 2009. Prior to joining Invesco, Mr. Burge spent seven years with Criterion Investment Management. He entered the industry in 1993. Mr. Burge earned a BS degree in economics from Texas A&M University. He also earned an MBA in finance and accounting from Rice University.

Michael Hyman

Start Date

Tenure

Tenure Rank

Jun 28, 2013

8.93

8.9%

Michael Hyman is Chief Investment Officer, Global Investment Grade & Emerging Markets for Invesco Fixed Income. He joined Invesco in 2013 and entered the industry in 1991. Previously, Mr. Hyman was with ING Investment Management and ING Institutional Markets for 12 years. At ING, he was the head of investment grade corporate credit, responsible for investment grade corporate credit as well as collaterized loan obligation and synthetic collateralized debt obligation investment portfolios. Mr. Hyman earned a BSE degree in finance from Pennsylvania State University and an MBA from NYU.

Matthew Brill

Start Date

Tenure

Tenure Rank

Jun 27, 2014

7.93

7.9%

Matt Brill is Head of North America Investment Grade for Invesco Fixed Income. Mr. Brill joined Invesco in 2013 as a senior portfolio manager. Prior to joining the firm, he was a portfolio manager and vice president at ING Investment Management, where he specialized in investment-grade credit and commercial mortgage-backed securities. Before that, he was a portfolio analyst at Wells Real Estate Funds. Mr. Brill has been in the industry since 2002. Mr. Brill earned a BA degree in economics at Washington and Lee University. He is a Chartered Financial Analyst® (CFA) charterholder

Todd Schomberg

Start Date

Tenure

Tenure Rank

Jun 29, 2020

1.92

1.9%

Todd Schomberg has been associated with Invesco and/or its affiliates since 2016. From 2008 to 2016, he served as a Portfolio Manager and Vice President at Voya Investment Management

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.19 2.41

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