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Name

As of 04/18/2024

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 Income Fund

AGOVX | Fund

$6.81

$352 M

0.00%

0.98%

Vitals

YTD Return

1.4%

1 yr return

4.1%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

-0.5%

Net Assets

$352 M

Holdings in Top 10

34.1%

52 WEEK LOW AND HIGH

$6.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.98%

SALES FEES

Front Load 4.25%

Deferred Load N/A

TRADING FEES

Turnover 220.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/18/2024

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 Income Fund

AGOVX | Fund

$6.81

$352 M

0.00%

0.98%

AGOVX - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return -0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.56%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    INVESCO Income Fund
  • Fund Family Name
    INVESCOFDS
  • Inception Date
    Apr 28, 1987
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Clint Dudley

Fund Description

The Fund invests primarily in fixed-income securities and in derivatives and other instruments that have economic characteristics similar to such securities. A significant portion of these securities consists of privately-issued mortgage-backed and asset-backed securities such as commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS), and collateralized loan obligations (CLOs) of any rating. The mortgage-backed securities in which the Fund invests could also include mortgage pass-through certificates representing participation interests in pools of mortgage loans originated by the U.S. Government or private lenders as well as those guaranteed by U.S. Government agencies such as the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC).
The Fund will invest more than 25% of its total assets in securities related to the real estate finance industry, including, without limitation, CMBS, RMBS, real estate investment trusts (REITs), other real estate-related securities, loans and other instruments that are secured by, or otherwise have exposure to, real estate. The Fund may, at times, invest substantially more than 25% of its total assets in securities related to the real estate finance industry.
The Fund invests in below-investment grade securities. Below-investment grade securities are commonly referred to as junk bonds. A significant portion of the Fund’s investments consists of below-investment grade 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 will 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 also expects to engage in short sales of TBA mortgages, including short sales on TBA mortgages the Fund does not own. The Fund’s use of TBA transactions results in a form of leverage, which could increase the volatility of the Fund’s share price.
The Fund may invest in foreign securities, including securities of issuers located in emerging markets countries (i.e., those that are generally in the early stages of their industrial cycles), in non-U.S. dollar denominated securities and in depositary receipts.
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 hedge or adjust its exposure to interest rates and to manage duration. The Fund can further use credit default swaps or total return swaps to manage credit exposure and to manage duration.
The Fund can use futures contracts, including interest rate futures contracts and bond futures contracts, to increase or reduce exposure to changes in interest rates and to manage duration.
The Fund can use forward foreign currency contracts to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated.
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 invest in convertible securities, municipal securities and common and preferred stock of REITs.
The portfolio managers seek risk-adjusted returns across the fixed income spectrum to provide a high, stable monthly income while providing the opportunity for long term price appreciation. The portfolio managers use a “top down” analysis of macroeconomic trends combined with a “bottom up” fundamental analysis of market sub-sectors and individual issuers to seek to continuously create investable information advantages throughout a market cycle. The portfolio managers will invest opportunistically across a wide range of credit and issuer types to seek to provide relative value across fixed income.
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.
Read More

AGOVX - Performance

Return Ranking - Trailing

Period AGOVX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -12.7% 9.3% 17.77%
1 Yr 4.1% -9.6% 26.8% 66.00%
3 Yr -1.1%* -17.6% 17.9% 62.93%
5 Yr -0.5%* -13.4% 14.7% 87.76%
10 Yr -0.1%* -13.6% 6.5% 93.77%

* Annualized

Return Ranking - Calendar

Period AGOVX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.1% -12.0% 15.7% 87.04%
2022 -12.9% -31.8% 18.4% 47.63%
2021 0.9% -26.6% 25.7% 10.95%
2020 -10.6% -49.2% 18.7% 97.87%
2019 4.9% -35.1% 15.3% 45.14%

Total Return Ranking - Trailing

Period AGOVX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -12.7% 9.3% 17.77%
1 Yr 4.1% -9.6% 26.8% 66.00%
3 Yr -1.1%* -17.6% 17.9% 62.93%
5 Yr -0.5%* -13.4% 14.7% 87.76%
10 Yr -0.1%* -13.6% 6.5% 93.77%

* Annualized

Total Return Ranking - Calendar

Period AGOVX Return Category Return Low Category Return High Rank in Category (%)
2023 6.0% -7.0% 22.2% 79.78%
2022 -9.9% -31.8% 21.1% 56.96%
2021 4.2% -13.5% 49.9% 15.69%
2020 -6.4% -28.6% 24.1% 96.10%
2019 9.3% -4.8% 19.1% 45.33%

NAV & Total Return History

AGOVX - Holdings

Concentration Analysis

AGOVX Category Low Category High AGOVX % Rank
Net Assets 352 M 2.53 M 143 B 59.25%
Number of Holdings 201 4 9868 71.54%
Net Assets in Top 10 118 M -1.57 B 65.8 B 56.01%
Weighting of Top 10 34.07% 0.7% 170.6% 40.56%

Top 10 Holdings

  1. ING US Funding LLC 4.34%
  2. UBS AG 4.34%
  3. Bank of Nova Scotia (The) 4.34%
  4. Sumitomo Mitsui Banking Corp. 4.34%
  5. Government National Mortgage Association, TBA 4.08%
  6. Uniform Mortgage-Backed Securities, TBA 3.56%
  7. Empower CLO Ltd., Series 2022-1A, Class A1 2.91%
  8. Federal Home Loan Mortgage Corp. 2.07%
  9. Government National Mortgage Association, TBA 2.05%
  10. Federal National Mortgage Association 2.05%

Asset Allocation

Weighting Return Low Return High AGOVX % Rank
Bonds 		95.57% -150.81% 203.29% 26.03%
Other 		15.64% -62.91% 100.00% 15.98%
Preferred Stocks 		1.26% 0.00% 30.46% 10.96%
Stocks 		0.00% -1.60% 99.88% 93.30%
Convertible Bonds 		0.00% 0.00% 33.50% 95.78%
Cash 		0.00% -94.66% 258.91% 97.26%

Bond Sector Breakdown

Weighting Return Low Return High AGOVX % Rank
Securitized 		75.57% 0.00% 99.65% 5.81%
Corporate 		4.83% 0.00% 96.66% 88.85%
Government 		1.74% 0.00% 99.43% 78.18%
Derivative 		0.24% -62.91% 37.37% 28.70%
Cash & Equivalents 		0.00% 0.00% 88.14% 98.93%
Municipal 		0.00% 0.00% 54.26% 85.09%

Bond Geographic Breakdown

Weighting Return Low Return High AGOVX % Rank
US 		95.57% -151.11% 203.29% 19.63%
Non US 		0.00% 0.00% 67.77% 92.54%

AGOVX - Expenses

Operational Fees

AGOVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.98% 0.01% 20.67% 62.37%
Management Fee 0.45% 0.00% 2.29% 17.98%
12b-1 Fee 0.25% 0.00% 1.00% 48.31%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

AGOVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.25% 0.00% 5.75% 35.83%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

AGOVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

AGOVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 220.00% 0.00% 632.00% 92.28%

AGOVX - Distributions

Dividend Yield Analysis

AGOVX Category Low Category High AGOVX % Rank
Dividend Yield 0.00% 0.00% 23.30% 30.77%

Dividend Distribution Analysis

AGOVX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

AGOVX Category Low Category High AGOVX % Rank
Net Income Ratio 2.56% -1.55% 11.51% 63.83%

Capital Gain Distribution Analysis

AGOVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

View More +

AGOVX - Fund Manager Analysis

Managers

Clint Dudley

Start Date

Tenure

Tenure Rank

Jan 14, 2009

13.38

13.4%

Clint Dudley is a Senior Portfolio Manager for Invesco Fixed Income. Mr. Dudley joined Invesco in 1998 as a systems analyst in the Information Technology department. In 2001 he became a member of Invesco Fixed Income and has held various positions of increasing responsibility, with an emphasis on mortgage-backed securities. Mr. Dudley earned a BBA and an MBA from Baylor University. He is a CFA charterholder and member of the CFA Society of Atlanta.

Brian Norris

Start Date

Tenure

Tenure Rank

Jul 26, 2018

3.85

3.9%

Brian Norris is a Senior Portfolio Manager on the Structured Securities team. He is responsible for providing advice and trading for the mortgage-related products and working collectively with the Structured Securities team to implement strategies throughout the fixed income platform. Additionally, Mr. Norris is a mortgage-backed securities trader and director for Invesco Mortgage Capital, Inc., a mortgage REIT sub-advised by Invesco Fixed Income. Mr. Norris has been in the industry since 1999. He began his investment career with Todd Investment Advisors in Louisville, Kentucky, as a securities trader. Mr. Norris joined Invesco in 2001 and served for five years as an account manager. In that role, he was responsible for communicating the fixed income investment process and strategy to both clients and consultants. Mr. Norris became a portfolio manager in 2006 and was named senior portfolio manager in 2014. Mr. Norris earned a BS degree in business administration with a concentration in finance from the University of Louisville. He holds the Chartered Financial Analyst designation.

David Lyle

Start Date

Tenure

Tenure Rank

Jul 26, 2018

3.85

3.9%

David Lyle, Portfolio Manager, has been responsible for the management of the Funds since their inception and has been associated with Invesco Institutional and/or its affiliates since 2006. Prior to joining Invesco Institutional and/or its affiliates, Mr. Lyle had been employed by Friedman Billings Ramsey since 2003, where he was a Vice President in the Investment Banking ABS Group.

Philip Armstrong

Start Date

Tenure

Tenure Rank

Jul 26, 2018

3.85

3.9%

Philip Armstrong, Portfolio Manager of Invesco Advisers, Inc., has been associated with the firm and/or its affiliates since 2015. Prior to 2015, Mr. Armstrong was an associate at BlackRock from 2010 to 2015.

Kevin Collins

Start Date

Tenure

Tenure Rank

Jul 26, 2018

3.85

3.9%

Kevin Collins is the Head of Commercial Credit for Invesco Fixed Income. In this role, his primary responsibilities include evaluating, selecting, and positioning commercial mortgagebacked securities, commercial loans, and other debt investments across Invesco-managed institutional and retail fixed income funds, including Invesco Mortgage Capital Inc., a public real estate investment trust externally managed by Invesco Advisers, Inc. Further, he is involved in identifying new investment strategies and creating related product offerings for Invesco Fixed Income. He played a role in launching Invesco Mortgage Capital, Invesco Mortgage Recovery Fund (closed to new investors and co-managed by WL Ross & Co. LLC), Invesco Real Estate, Invesco Fixed Income, and two of Invesco’s closed-end fund offerings. He currently serves as a Portfolio Manager and Investment Committee member on these strategies. Mr. Collins also serves as President of Invesco Mortgage Capital. Mr. Collins joined Invesco in 2007 as a senior analyst on the structured securities team. Prior to joining the firm, he structured various capital funding strategies — including bond securitizations, asset-backed commercial paper conduit transactions, and other secured lending facilities — for banks and specialty finance companies at Credit Suisse First Boston. Mr. Collins began his career in the New York-based structured finance advisory services practice at Ernst & Young, focusing on structured product cash flow modeling and collateral analytics. Mr. Collins earned a BS degree in accounting, magna cum laude, from Florida State University and an MBA from the Kellogg School of Management at Northwestern University. He currently serves on the Florida State University Center for Real Estate Education and Research Executive Board and is a member of the Commercial Real Estate Finance Council Board of Governors.

Mario Clemente

Start Date

Tenure

Tenure Rank

Jul 26, 2018

3.85

3.9%

Mario Clemente is a Portfolio Manager. He has been associated with the Invesco Advisers, Inc. and/or its affiliates since 2014.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19

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