INVESCO SMALL CAP VALUE FUND
Fund
VSMIX
Price as of:
$23.85
- $0.32
- 1.32%
Primary Theme
fund company
Name
As of 04/15/2024Price
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
Vitals
YTD Return
7.5%
1 yr return
32.4%
3 Yr Avg Return
13.8%
5 Yr Avg Return
16.8%
Net Assets
$3.7 B
Holdings in Top 10
27.6%
52 WEEK LOW AND HIGH
$24.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.85%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 71.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/15/2024Price
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
VSMIX - Profile
Distributions
- YTD Total Return 7.5%
- 3 Yr Annualized Total Return 13.8%
- 5 Yr Annualized Total Return 16.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.49%
- Dividend Yield 0.7%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameINVESCO SMALL CAP VALUE FUND
-
Fund Family NameINVESCOFDS
-
Inception DateAug 12, 2005
-
Shares OutstandingN/A
-
Share ClassY
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJonathan Mueller
Fund Description
The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of small capitalization companies, and in derivatives and other instruments that have economic characteristics similar to such securities. The Fund focuses on equity securities of small capitalization companies that Invesco Advisers, Inc. (Invesco or the Adviser), the Fund’s investment adviser, believes are undervalued. The principal type of equity security in which the Fund invests is common stock.
The Fund considers a small-capitalization company to be one that has a market capitalization, at the time of purchase, no larger than the market capitalization of the largest capitalized company included in the Russell 2000® Index during the most recent 11-month period (based on month-end data) plus the most recent data during the current month. A company’s “market capitalization” is the value of its outstanding stock.
The Fund may invest up to 15% of its net assets in real estate investment trusts (REITs).
The Fund may invest up to 25% of its net assets in securities of foreign issuers, including securities of issuers located in emerging market countries, i.e., those that are generally in the early stages of their industrial cycles, and depositary receipts.
The Fund can invest in derivative instruments including forward foreign currency contracts, futures contracts and options.
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 can use futures contracts to seek exposure to certain asset classes.
The Fund can use options to seek investment return or to mitigate risk.
The Fund emphasizes a value style of investing. In selecting securities, the portfolio managers emphasize the following characteristics, although not all investments will have these attributes:
◾
Buy businesses trading at a significant discount to the portfolio managers’ estimate of intrinsic value. The portfolio managers believe intrinsic value represents the fair economic worth of the business.
◾
Emphasize quality businesses with potential to grow intrinsic value over time. The portfolio managers primarily seek established issuers which they believe have solid growth prospects, the ability to earn an attractive return on invested capital and a management team that exhibits intelligent capital allocation skills.
The portfolio managers will consider selling a security if a more attractive investment opportunity is identified, if a security is trading near or above the portfolio managers’ estimate of intrinsic value or if there is a fundamental deterioration in business prospects that results in inadequate upside potential to estimated intrinsic value.
The portfolio managers seek to achieve strong long-term performance by constructing a diversified portfolio that they believe offers value content greater than the broad market, as measured by the portfolio’s aggregate discount to the portfolio managers’ estimated intrinsic value of the portfolio. The investment process is fundamental in nature and focused on individual issuers as opposed to macroeconomic forecasts or specific industry exposure. The portfolio construction process is intended to preserve and grow the estimated intrinsic value of the Fund’s portfolio rather than mirror the composition or sector weights of any benchmark.
VSMIX - Performance
Return Ranking - Trailing
| Period | VSMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.5% | -13.8% | 7.5% | 0.44% |
| 1 Yr | 32.4% | -5.6% | 32.6% | 0.44% |
| 3 Yr | 13.8%* | -13.7% | 66.8% | 1.86% |
| 5 Yr | 16.8%* | -4.5% | 47.1% | 1.75% |
| 10 Yr | 9.2%* | -3.6% | 26.2% | 3.17% |
* Annualized
Return Ranking - Calendar
| Period | VSMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 17.5% | -18.4% | 33.6% | 13.91% |
| 2022 | -4.7% | -36.7% | 212.9% | 3.15% |
| 2021 | 17.4% | -62.0% | 147.6% | 56.61% |
| 2020 | 10.7% | -24.8% | 31.3% | 10.69% |
| 2019 | 29.2% | -30.1% | 34.0% | 3.98% |
Total Return Ranking - Trailing
| Period | VSMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.5% | -13.8% | 7.5% | 0.44% |
| 1 Yr | 32.4% | -5.6% | 32.6% | 0.44% |
| 3 Yr | 13.8%* | -13.7% | 66.8% | 1.86% |
| 5 Yr | 16.8%* | -4.5% | 47.1% | 1.75% |
| 10 Yr | 9.2%* | -3.6% | 26.2% | 3.17% |
* Annualized
Total Return Ranking - Calendar
| Period | VSMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 23.2% | -15.5% | 35.4% | 8.61% |
| 2022 | 4.6% | -36.7% | 250.0% | 2.48% |
| 2021 | 36.8% | -3.2% | 157.9% | 16.24% |
| 2020 | 11.1% | -13.5% | 33.4% | 10.93% |
| 2019 | 32.4% | -17.4% | 34.3% | 4.73% |
NAV & Total Return History
VSMIX - Holdings
Concentration Analysis
| VSMIX | Category Low | Category High | VSMIX % Rank | |
|---|---|---|---|---|
| Net Assets | 3.7 B | 2.13 M | 52.9 B | 14.22% |
| Number of Holdings | 98 | 10 | 1578 | 52.74% |
| Net Assets in Top 10 | 1.05 B | 180 K | 3.01 B | 10.28% |
| Weighting of Top 10 | 27.63% | 0.3% | 88.4% | 23.68% |
Top 10 Holdings
- Invesco Private Prime Fund 4.61%
- Lumentum Holdings Inc. 3.09%
- Coherent Corp. 2.85%
- Expedia Group, Inc. 2.65%
- Western Alliance Bancorporation 2.59%
- Pinnacle Financial Partners, Inc. 2.56%
- Vertiv Holdings Co. 2.49%
- Huntington Bancshares Inc. 2.29%
- Webster Financial Corp. 2.25%
- NRG Energy, Inc. 2.24%
Asset Allocation
| Weighting | Return Low | Return High | VSMIX % Rank | |
|---|---|---|---|---|
| Stocks | 97.85% | 0.99% | 104.11% | 64.33% |
| Cash | 8.63% | 0.00% | 99.01% | 10.72% |
| Other | 0.05% | -1.78% | 40.01% | 28.88% |
| Preferred Stocks | 0.00% | 0.00% | 2.62% | 75.27% |
| Convertible Bonds | 0.00% | 0.00% | 2.63% | 72.95% |
| Bonds | 0.00% | 0.00% | 73.18% | 73.30% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | VSMIX % Rank | |
|---|---|---|---|---|
| Industrials | 35.47% | 0.65% | 48.61% | 1.79% |
| Energy | 15.78% | 0.00% | 29.42% | 5.82% |
| Financial Services | 11.08% | 0.00% | 35.71% | 91.28% |
| Consumer Cyclical | 8.25% | 0.00% | 51.62% | 81.43% |
| Technology | 7.86% | 0.00% | 34.03% | 64.21% |
| Basic Materials | 7.78% | 0.00% | 67.30% | 14.09% |
| Healthcare | 6.64% | 0.00% | 25.76% | 46.98% |
| Consumer Defense | 4.39% | 0.00% | 13.22% | 38.48% |
| Utilities | 2.75% | 0.00% | 13.86% | 40.94% |
| Real Estate | 0.00% | 0.00% | 44.41% | 97.99% |
| Communication Services | 0.00% | 0.00% | 24.90% | 97.09% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | VSMIX % Rank | |
|---|---|---|---|---|
| US | 87.78% | 0.96% | 104.11% | 95.19% |
| Non US | 10.07% | 0.00% | 67.90% | 1.97% |
VSMIX - Expenses
Operational Fees
| VSMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.85% | 0.05% | 37.04% | 85.12% |
| Management Fee | 0.64% | 0.00% | 1.50% | 18.64% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.35% | 85.04% |
Sales Fees
| VSMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| VSMIX 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.
| VSMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 71.00% | 7.00% | 252.00% | 78.20% |
VSMIX - Distributions
Dividend Yield Analysis
| VSMIX | Category Low | Category High | VSMIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.65% | 0.00% | 14.46% | 32.17% |
Dividend Distribution Analysis
| VSMIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
| VSMIX | Category Low | Category High | VSMIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.49% | -1.43% | 4.13% | 45.64% |
Capital Gain Distribution Analysis
| VSMIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 15, 2023 | $1.045 | OrdinaryDividend |
| Dec 16, 2022 | $1.800 | OrdinaryDividend |
| Dec 11, 2020 | $0.068 | OrdinaryDividend |
| Dec 13, 2016 | $0.083 | OrdinaryDividend |
VSMIX - Fund Manager Analysis
Managers
Jonathan Mueller
Start Date
Tenure
Tenure Rank
Jun 25, 2010
11.94
11.9%
Jonathan Mueller is a portfolio manager for Invesco small-cap value products. Jonathan Mueller joined Invesco in 2001. Mr. Mueller served as a senior equity analyst before being promoted to portfolio manager in 2009. He was an audit senior for Arthur Andersen LLP from 1997 to 1999. Mr. Mueller earned a Bachelor of Business Administration degree in accounting from Texas Christian University and a Master of Business Administration degree in finance from The University of Texas at Austin. He is a Certifi ed Public Accountant and a CFA charterholder.
Jonathan Edwards
Start Date
Tenure
Tenure Rank
Jun 25, 2010
11.94
11.9%
Jonathan Edwards is a portfolio manager for Invesco small-cap value products. Mr. Edwards entered the fi nancial industry in 1993. He joined Invesco in 2001 as a corporate associate, working with various fund managers throughout Invesco. He previously worked as a credit analyst with Bank of America. Mr. Edwards earned a Bachelor of Science degree in economics, summa cum laude, from Texas A&M University and a Master of Business Administration degree from the McCombs School of Business at The University of Texas at Austin. He is a CFA charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 37.45 | 8.15 | 3.58 |