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IARAX Invesco Real Estate A

  • Fund
  • IARAX
  • Price as of: May 20, 2019
  • $21.87 - $0.35 - 1.58%
  • Category
  • Real Estate

IARAX - Profile

Vitals

  • YTD Return 16.6%
  • 3 Yr Annualized Return -2.2%
  • 5 Yr Annualized Return -2.2%
  • Net Assets $1.47 B
  • Holdings in Top 10 39.5%

52 WEEK LOW AND HIGH

$21.87
$18.01
$22.25

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.27%

SALES FEES

  • Front Load 5.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 47.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$250

Investment Themes

CATEGORY

Real Estate
  • Fund Type Open End Mutual Fund
  • Investment Style Real Estate

Distributions

  • YTD Total Return 16.6%
  • 3 Yr Annualized Total Return 5.1%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.54%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Invesco Real Estate Fund
  • Fund Family Name Invesco
  • Inception Date Dec 31, 1996
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Joe V. Rodriguez

IARAX - Performance

Return Ranking - Trailing

Period IARAX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.6% 5.6% 20.7% 43.09%
1 Yr 9.1% -31.3% 18.8% 60.64%
3 Yr -2.2%* -17.4% 5.2% 67.20%
5 Yr -2.2%* -11.0% 19.7% 80.92%
10 Yr 6.0%* 3.3% 17.4% 82.11%

* Annualized


Return Ranking - Calendar

Period IARAX Return Category Return Low Category Return High Rank in Category (%)
2018 -11.8% -44.0% -5.8% 64.52%
2017 2.3% -16.4% 25.4% 34.41%
2016 -9.1% -17.0% 8.6% 88.71%
2015 -13.5% -18.1% 2.4% 93.51%
2014 22.0% -3.3% 115.9% 65.29%

Total Return Ranking - Trailing

Period IARAX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.6% 5.6% 20.7% 43.09%
1 Yr 9.9% -30.4% 21.4% 78.19%
3 Yr 5.1%* -17.0% 8.2% 42.47%
5 Yr 3.3%* -10.7% 19.7% 80.92%
10 Yr 11.9%* 3.3% 17.4% 65.85%

* Annualized


Total Return Ranking - Calendar

Period IARAX Return Category Return Low Category Return High Rank in Category (%)
2018 -11.0% -43.3% -1.9% 81.18%
2017 8.4% -13.6% 32.7% 14.52%
2016 5.8% -12.3% 10.2% 31.72%
2015 -12.9% -15.2% 7.6% 96.76%
2014 28.1% -3.3% 115.9% 60.59%

NAV & Total Return History

IARAX - Holdings

Concentration Analysis

IARAX Category Low Category High IARAX % Rank
Net Assets 1.47 B 10.7 M 63.8 B 25.00%
Number of Holdings 64 21 731 18.62%
Net Assets in Top 10 583 M 3.76 M 26.5 B 26.06%
Weighting of Top 10 39.49% 11.9% 161.1% 88.83%

Top 10 Holdings

  1. American Tower Corp 6.40%

  2. Crown Castle International Corp 5.57%

  3. Prologis Inc 5.07%

  4. Equinix Inc 3.81%

  5. AvalonBay Communities Inc 3.55%

  6. Simon Property Group Inc 3.46%

  7. SBA Communications Corp 3.03%

  8. Realty Income Corp 3.03%

  9. Boston Properties Inc 2.97%

  10. Public Storage 2.60%


Asset Allocation

Weighting Return Low Return High IARAX % Rank
Stocks
98.05% 15.70% 100.19% 70.74%
Cash
1.93% -113.94% 12.44% 26.60%
Other
0.02% -0.59% 5.80% 13.83%
Preferred Stocks
0.00% 0.00% 53.32% 72.34%
Convertible Bonds
0.00% 0.00% 5.90% 71.81%
Bonds
0.00% 0.00% 113.82% 72.34%

Stock Sector Breakdown

Weighting Return Low Return High IARAX % Rank
Real Estate
84.17% 12.48% 99.74% 84.04%
Communication Services
9.43% 0.00% 12.24% 8.51%
Basic Materials
2.66% -0.05% 16.58% 5.85%
Industrials
0.92% -0.02% 9.42% 10.11%
Consumer Cyclical
0.87% 0.00% 37.68% 39.89%
Utilities
0.00% 0.00% 0.00% 70.74%
Technology
0.00% 0.00% 9.96% 81.91%
Healthcare
0.00% 0.00% 4.53% 70.74%
Financial Services
0.00% 0.00% 14.48% 73.94%
Energy
0.00% 0.00% 4.87% 71.28%
Consumer Defense
0.00% 0.00% 0.22% 70.74%

Stock Geographic Breakdown

Weighting Return Low Return High IARAX % Rank
US
98.05% 15.70% 100.00% 58.51%
Non US
0.00% 0.00% 47.66% 85.64%

IARAX - Expenses

Operational Fees

IARAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.27% 0.00% 29.08% 52.66%
Management Fee 0.73% 0.00% 1.20% 29.79%
12b-1 Fee 0.25% 0.00% 1.00% 51.59%
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

IARAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 2.50% 5.75% 64.86%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

IARAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% N/A

Turnover 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.

IARAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 47.00% 3.00% 1060.00% 44.68%

IARAX - Distributions

Dividend Yield Analysis

IARAX Category Low Category High IARAX % Rank
Dividend Yield 0.01% 0.00% 0.05% 63.83%

Dividend Distribution Analysis

IARAX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Quarterly Quarterly

Dividend Payout History


Net Income Ratio Analysis

IARAX Category Low Category High IARAX % Rank
Net Income Ratio 1.54% -0.10% 5.36% 68.62%

Capital Gain Distribution Analysis

IARAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

IARAX - Managers

Joe V. Rodriguez

Manager

Start Date

Tenure

Tenure Rank

May 01, 1995

24.01

24.0%

Rodriguez is a portfolio manager with Invesco Institutional, who has been responsible for the fund since 2007,his employer since 1990. He began his investment career in 1983. He sits on the editorial board for the National Association of Real Estate Investment Trusts and is on the research committee for both the Pension Real Estate Association and the National Council of Real Estate Investment Fiduciaries. Rodriguez holds the Certified Financial Planner designation.


Mark D. Blackburn

Manager

Start Date

Tenure

Tenure Rank

Apr 03, 2000

19.08

19.1%

Mr. Blackburn is an Invesco Managing Director and a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as Director of Securities Research and a Portfolio Manager. Prior to joining Invesco in 1998, he worked as an Associate Director of Research focusing on equity securities research and recommendations with a regional brokerage firm. He is a member of the National Association of Real Estate Investment Trusts (NAREIT).


Ping-Ying Wang

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2006

13.33

13.3%

Ms. Wang is an Invesco Senior Director and a Portfolio Manager on the Real Estate Securities Investment Team.Ms. Wang evaluates global real estate companies with a particular focus on Asian and North American countries while managing and performing portfolio risk analysis. In addition to these duties, Ms. Wang formulates investment strategies, spearheads thematic research projects and serves on the Real Estate Securities Management Executive Committee. She holds the Chartered Financial Analyst designation.


Paul S. Curbo

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2007

12.33

12.3%

Mr. Curbo is an Invesco Senior Director and a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a Portfolio Manager performing quantitative and fundamental research on real estate securities. Mr. Curbo has been a guest on Bloomberg News and CNBC and has been quoted in several publications including the Wall Street Journal and Barron’s. Mr. Curbo joined Invesco in 1998 and worked for several years in the real estate research group as a Senior Research Analyst. He holds the Chartered Financial Analyst® (CFA®) designation.


Darin Turner

Manager

Start Date

Tenure

Tenure Rank

Dec 04, 2009

9.41

9.4%

Darin Turner is a portfolio manager and member of the Real Estate Securities Portfolio Management and Research Team with Invesco Real Estate. His current duties involve evaluating structured real estate securities with a focus on fi xed-income instruments such as commercial mortgage-backed securities, corporate debt and corporate preferred stock. Mr. Turner also provides tenant and credit quality analysis, capital structure analysis and debt pricing analysis for equity portfolios. Mr. Turner joined Invesco in 2005 as an acquisitions analyst.


James Cowen

Manager

Start Date

Tenure

Tenure Rank

Jun 26, 2015

3.85

3.9%

Mr. Cowen is a Portfolio Manager with the Invesco Real Estate Global Securities Team. He has 18 years of experience in real estate and has worked for Invesco for 15 years. Prior to joining the team in 2004, he worked in a real estate corporate finance role for Invesco in Europe and as an analyst for a management consulting business based in London. He has a Bachelor and Masters Degree from the University of Manchester and a M.Phil degree from Cambridge University. He is a member of the UK Society of Investment Professionals, UK Securities & Investment Institute and is a UK FSA approved person.


Grant Jackson

Manager

Start Date

Tenure

Tenure Rank

Jun 28, 2018

0.84

0.8%

Grant Jackson is a senior director and portfolio manager with Invesco Real Estate’s Global Securities team. Mr. Jackson began his investment career in 2002 and joined Invesco in 2005. Prior to joining Invesco, he worked for PricewaterhouseCoopers Consulting where he was engaged in various technical roles involving data management, database coordination, and application development. Mr. Jackson earned a BS in Mechanical Engineering from the University of Texas at Austin and a MBA from Southern Methodist University’s Cox School of Business. Mr. Jackson is a CFA® charterholder.


Tenure Analysis

Category Low

0.0

Category High

25.34

Category Average

8.78

Category Mode

5.33