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Trending ETFs

Name

As of 06/17/2024

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

$7.85

$1.08 B

6.46%

$0.51

0.87%

Vitals

YTD Return

2.7%

1 yr return

6.9%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

-0.3%

Net Assets

$1.08 B

Holdings in Top 10

44.5%

52 WEEK LOW AND HIGH

$7.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.87%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/17/2024

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

$7.85

$1.08 B

6.46%

$0.51

0.87%

PIAFX - Profile

Distributions

  • YTD Total Return 2.7%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return -0.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.93%
DIVIDENDS
  • Dividend Yield 6.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco Multi-Asset Income Fund
  • Fund Family Name
    INVESCOFDS
  • Inception Date
    Dec 14, 2011
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mark Ahnrud

Fund Description

The Fund seeks to achieve its investment objective by actively allocating assets across multiple income producing asset classes and strategies. The Adviser’s Global Asset Allocation (GAA) Team employs risk balancing strategies intended to manage interest rate, equity and credit risk to seek to create a balanced risk profile for the Fund. The GAA Team implements the Fund’s investment strategy and tactically adjusts the Fund’s portfolio through direct investments, including derivative and hybrid derivative-type instruments, as well as through affiliated and unaffiliated open-end investment companies, including exchange-traded funds (ETFs), and closed-end investment companies. Invesco Advisers, Inc. (Invesco or the Adviser) expects this strategy to provide protection during periods of economic stress while seeking to meet the Fund’s investment objective.
The Fund invests in high income producing asset classes, as defined below, and government bonds. The high income producing asset classes in which the Fund invests are those that are expected to provide income and which the GAA Team believes will increase in value during periods of economic strength. These asset classes include non-investment grade (high yield or “junk”) debt, emerging markets debt, dividend producing equities, securities of real estate and real estate-related issuers (including mortgage real estate investment trusts (REITs), equity REITs, and equity securities of global companies principally engaged in the real estate industry), preferred equities, master limited partnerships (MLPs) and floating rate debt securities and loans. The Fund may also obtain exposure to the foregoing asset classes through equity-linked notes (ELNs), including through ELNs on ETFs. The Fund also invests in government bonds that are expected to provide income and which the GAA Team believes will increase in value during periods of economic stress. The GAA Team determines how to allocate the portfolio among the different asset classes based on yield, liquidity, risk, correlation and tax treatment.
The Fund’s high yield debt investments consist of debt securities of U.S. and foreign issuers that are determined to be below investment grade quality. These types of securities are commonly known as “junk bonds.” Investment grade securities are: (i) securities rated BBB- or higher by S&P Global Ratings, a division of S&P Global, Inc. (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 the Adviser to be of comparable quality, each at the time of purchase. The Fund invests principally in junk bonds rated B or above by an NRSRO or deemed to be of comparable quality by the Adviser. The Fund may also invest in debt securities of foreign issuers that are determined to be below investment grade quality. The Fund can use derivative instruments, such as credit default swaps, credit default index swaps and ELNs, to manage its exposure to high yield debt investments. The Fund also may invest in Rule 144A private placement securities. There is no requirement with respect to the maturity or duration of high yield debt securities in which the Fund may invest.
The Fund’s emerging markets debt exposure may include investments in U.S. dollar-denominated government bonds, and sovereign, quasi-sovereign, corporate and supranational bonds. Quasi-sovereign debt securities are debt securities either explicitly guaranteed by a foreign government or whose majority investor is a foreign government. Supranational bonds are bonds issued by an international organization designated or supported by two or more governmental entities and designed to promote economic reconstruction, development or international banking institutions. The Fund has no requirement with respect to the maturity or duration of the emerging markets debt securities in which the Fund may invest. The Fund can also invest in credit linked notes, ELNs and derivative instruments such as credit default index swaps to manage its exposure to emerging markets debt investments.
The Fund’s preferred equity exposure may include investments in fixed rate U.S. dollar-denominated preferred securities that comprise The ICE BofA Core Plus Fixed Rate Preferred Securities Index (Preferred Equity Index). When utilizing an indexing approach, the Fund will generally invest in all of the securities in the Preferred Equity Index in their approximate weightings. However, where it may not be possible or practicable to purchase all of those securities in those same weightings, the Fund may utilize a “sampling” methodology to seek to track the performance of the Preferred Equity Index. The Preferred Equity Index is a market capitalization-weighted index designed to measure the performance of the fixed rate U.S. dollar-denominated domestic preferred securities market. The Preferred Equity Index includes both traditional and other preferred securities. Unlisted preferred securities are excluded from the Preferred Equity Index, but unlisted senior or subordinated debt-like securities are eligible for inclusion. The Preferred Equity Index may include Rule 144A securities. Securities are selected for the Preferred Equity Index using a rules-based methodology. Qualifying securities must be rated at least B3 (based on an average of ratings by Moody’s, S&P and Fitch Ratings, Inc. (“Fitch”)) and must have an investment grade country risk profile (based on an average of Moody’s, S&P and Fitch foreign currency long-term sovereign debt ratings).
The Fund’s exposure to real estate and real estate-related issuers may include investments in equity securities of global companies principally engaged in the real estate industry, and mortgage REITs and equity REITs. The Fund may also obtain exposure to real estate and real estate-related issuers through ELNs. The Fund may also invest in mortgage-backed securities consisting of interests in underlying mortgages with maturities of up to thirty years.
The Fund also can make investments in the securities of MLPs. The MLPs in which the Fund invests are publicly traded partnerships or limited liability companies engaged, among other things, in the transportation, storage, processing, refining, marketing, exploration, production and mining of minerals and natural resources. The Fund may invest in securities of
MLPs of all capitalization sizes. The Fund may also invest in exchange-traded notes (ETNs) and ELNs that provide exposure to MLPs.
The Fund also can make investments in (i) senior secured floating rate loans made by banks and other lending institutions, (ii) senior secured floating rate debt instruments, (iii) unsecured bank loans, and (iv) secured and unsecured notes and bonds. The floating rate loans and floating rate debt securities may be rated below investment grade. Some of the floating rate loans and debt securities in which the Fund may invest will be considered illiquid. The Fund may also invest in floating rate U.S. dollar-denominated preferred securities.
The Fund’s government bond exposure includes investments in debt securities issued, guaranteed or otherwise backed by the U.S. Government or its agencies and instrumentalities. These securities include: (1) U.S. Treasury obligations (including the principal components or the interest components issued by the U.S. Government under the Separate Trading of Registered Interest and Principal Securities program (i.e. STRIPS)); and (2) obligations issued or guaranteed by U.S. Government agencies and instrumentalities and supported by (a) the full faith and credit of the U.S. Treasury, (b) the right of the issuer to borrow from the U.S. Treasury, or (c) the credit of the agency or instrumentality. The Fund also may invest in securities issued by foreign governments.  The Fund also may use treasury futures (including U.S. Government and foreign government bond futures) and options on treasury futures (including U.S. Government and foreign government bond futures) to adjust the duration of the portfolio of government bonds.
The Fund may invest in securities or loans of issuers located in foreign countries, all of which may be securities or loans of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.
The Fund can use derivative instruments for risk management, portfolio management, earning income, managing (increasing or decreasing) target duration, gaining or reducing exposure to a particular asset class or hedging its exposure to non-U.S. currencies.  The Fund’s use of derivatives will involve the purchase and sale of treasury futures (including U.S. Government and foreign government bond futures), equity index futures, options on treasury futures, options (including equity options), interest rate swaps, credit default index swaps, credit default swaps, forward foreign currency contracts and other related instruments and techniques. The Fund’s investments in certain derivatives may create leveraged exposure to certain fixed income markets. Leverage occurs when the investments in derivatives create greater economic exposure than the amount invested. Using derivatives often allows the portfolio managers to implement their views more efficiently and to gain more exposure to the asset classes than investing in more traditional assets such as stocks and bonds would allow. The Fund holds long and short positions in derivatives.
The Fund may hold significant levels of cash and cash equivalent instruments, including affiliated money market funds, as margin or collateral for the Fund’s obligations under derivative transactions, or for cash management purposes.
The Fund’s portfolio managers consider selling a security or other investment, or covering a short position, (1) for risk control purposes, (2) when its income or potential for return deteriorates or (3) when it otherwise no longer meets Invesco’s investment selection criteria.
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PIAFX - Performance

Return Ranking - Trailing

Period PIAFX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.7% 0.1% 18.2% 80.28%
1 Yr 6.9% 0.0% 28.1% 82.39%
3 Yr -1.4%* -15.2% 6.6% 95.23%
5 Yr -0.3%* -4.4% 8.0% 98.96%
10 Yr 2.7%* -0.2% 8.6% 89.35%

* Annualized

Return Ranking - Calendar

Period PIAFX Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -1.0% 27.4% 88.00%
2022 -22.4% -35.0% -7.4% 94.52%
2021 -0.1% -11.5% 14.6% 73.17%
2020 -10.2% -10.3% 40.7% 99.48%
2019 10.4% -9.5% 22.1% 46.95%

Total Return Ranking - Trailing

Period PIAFX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.7% 0.1% 18.2% 80.28%
1 Yr 6.9% 0.0% 28.1% 82.39%
3 Yr -1.4%* -15.2% 6.6% 95.23%
5 Yr -0.3%* -4.4% 8.0% 98.96%
10 Yr 2.7%* -0.2% 8.6% 89.35%

* Annualized

Total Return Ranking - Calendar

Period PIAFX Return Category Return Low Category Return High Rank in Category (%)
2023 10.8% 2.6% 28.2% 37.88%
2022 -17.6% -35.0% -3.1% 97.62%
2021 6.0% -11.5% 32.0% 81.46%
2020 -4.7% -5.4% 40.7% 99.48%
2019 16.0% 4.5% 27.7% 28.91%

NAV & Total Return History


PIAFX - Holdings

Concentration Analysis

PIAFX Category Low Category High PIAFX % Rank
Net Assets 1.08 B 244 K 50.8 B 36.85%
Number of Holdings 1056 2 4020 15.02%
Net Assets in Top 10 485 M 261 K 10.1 B 37.79%
Weighting of Top 10 44.47% 6.4% 127.7% 71.83%

Top 10 Holdings

  1. U.S. Treasury Notes/Bonds 17.01%
  2. Invesco Treasury Portfolio, Institutional Class 6.98%
  3. Invesco Government Agency Portfolio, Institutional Class 6.11%
  4. Invesco Liquid Assets Portfolio 4.36%
  5. Invesco Private Prime Fund 3.57%
  6. Invesco Private Government Fund 1.39%
  7. Bank of Montreal 1.34%
  8. HSBC Holdings PLC 1.25%
  9. Mizuho Financial Group, Inc. 1.24%
  10. Toronto-Dominion Bank (The) 1.21%

Asset Allocation

Weighting Return Low Return High PIAFX % Rank
Bonds
76.32% 0.00% 80.16% 3.29%
Cash
22.42% -35.68% 27.77% 1.41%
Preferred Stocks
8.33% 0.00% 21.95% 2.35%
Convertible Bonds
0.39% 0.00% 71.77% 85.07%
Other
0.30% -0.27% 62.24% 27.46%
Stocks
0.00% 0.00% 100.48% 98.83%

Bond Sector Breakdown

Weighting Return Low Return High PIAFX % Rank
Government
31.84% 0.00% 63.33% 44.79%
Corporate
28.23% 0.00% 96.66% 51.90%
Cash & Equivalents
22.41% 0.00% 27.77% 1.64%
Derivative
0.30% -0.30% 62.23% 14.32%
Securitized
0.00% 0.00% 52.08% 97.16%
Municipal
0.00% 0.00% 99.85% 93.36%

Bond Geographic Breakdown

Weighting Return Low Return High PIAFX % Rank
US
75.46% 0.00% 80.16% 3.29%
Non US
0.86% 0.00% 6.53% 10.56%

PIAFX - Expenses

Operational Fees

PIAFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.87% 0.06% 21.26% 54.69%
Management Fee 0.46% 0.00% 1.25% 67.29%
12b-1 Fee 0.23% 0.00% 1.00% 15.83%
Administrative Fee N/A 0.01% 0.70% N/A

Sales Fees

PIAFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 1.00% 5.75% 45.59%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PIAFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

PIAFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 380.00% 67.83%

PIAFX - Distributions

Dividend Yield Analysis

PIAFX Category Low Category High PIAFX % Rank
Dividend Yield 6.46% 0.00% 7.99% 1.41%

Dividend Distribution Analysis

PIAFX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Quarterly

Net Income Ratio Analysis

PIAFX Category Low Category High PIAFX % Rank
Net Income Ratio 4.93% -1.22% 6.83% 2.62%

Capital Gain Distribution Analysis

PIAFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

View More +

PIAFX - Fund Manager Analysis

Managers

Mark Ahnrud


Start Date

Tenure

Tenure Rank

Dec 14, 2011

10.47

10.5%

Mark Ahnrud currently serves as a Portfolio Manager for Invesco's Global Asset Allocation team. Mark joined Invesco in 2000 and the Global Asset Allocation team in 2002. Mark began his investment career in 1985 and was a fixed income portfolio manager with Bank of America prior to joining Invesco. Mark received his BS in Finance and Investments from Babson College. He received his MBA from the Fuqua School of Business at Duke University with a concentration in Finance and Real Estate Investment. Mark holds the Chartered Financial Analyst designation.

Scott Wolle


Start Date

Tenure

Tenure Rank

Dec 14, 2011

10.47

10.5%

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

Dec 14, 2011

10.47

10.5%

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.

Christian Ulrich


Start Date

Tenure

Tenure Rank

Dec 14, 2011

10.47

10.5%

Christian Ulrich currently serves as a Portfolio Manager for the IGAA team. Christian joined Invesco in 2000 and the Global Asset Allocation team in 2009. Prior to affiliating as a Portfolio manager with IGAA team, Christian served as a client portfolio manager for Invesco Global Asset Management. Christian began his investment career in 1987 and was with Credit Suisse Group AG where he had assignments in Zurich, New York and London.Christian graduated from the KV Zurich Business School in Zurich, Switzerland, and holds the CFA designation.

Scott Hixon


Start Date

Tenure

Tenure Rank

Dec 14, 2011

10.47

10.5%

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.

Peter Hubbard


Start Date

Tenure

Tenure Rank

Aug 15, 2017

4.79

4.8%

Peter Hubbard, Vice President and Director of Portfolio Management of the Invesco PowerShares Capital Management LLC. Mr. Hubbard has been a Portfolio Manager of the Adviser since June 2007 and has been associated with the Adviser since 2005. Prior to joining the Invesco PowerShares Capital Management LLC, Hubbard was a research analyst and trader for Ritchie Capital from September 2003 to May 2005.

John Burrello


Start Date

Tenure

Tenure Rank

Feb 12, 2020

2.3

2.3%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 28.73 6.41 2.41