XHITX: Invesco High Income 2023 Target Term

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XHITX Invesco High Income 2023 Target Term


Profile

XHITX - Profile

Vitals

  • YTD Return -26.6%
  • 3 Yr Annualized Return -8.7%
  • 5 Yr Annualized Return N/A
  • Net Assets $184 M
  • Holdings in Top 10 46.2%

52 WEEK LOW AND HIGH

$7.66
$7.15
$10.61

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.25%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 16.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) N/A
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Closed-end mutual fund
  • Investment Style Target Maturity

Distributions

  • YTD Total Return -26.6%
  • 3 Yr Annualized Total Return -8.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.59%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco High Income 2023 Target Term Fund
  • Fund Family Name
    Invesco Advisers, Inc
  • Inception Date
    Nov 23, 2016
  • Shares Outstanding
    24030824
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brian Norris

Fund Description

N/A


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Categories

Performance

XHITX - Performance

Return Ranking - Trailing

Period XHITX Return Category Return Low Category Return High Rank in Category (%)
YTD -26.6% -26.6% 9.6% 100.00%
1 Yr -27.2% -34.2% 15.4% 99.72%
3 Yr -8.7%* -22.4% 6.2% 96.03%
5 Yr N/A* -23.4% 20.5% N/A
10 Yr N/A* -14.9% 11.0% N/A

* Annualized

Return Ranking - Calendar

Period XHITX Return Category Return Low Category Return High Rank in Category (%)
2019 5.2% -21.7% 32.8% 68.93%
2018 -1.4% -35.5% 3.9% 4.97%
2017 2.1% -15.9% 20.0% 80.56%
2016 N/A -13.3% 210.7% N/A
2015 N/A -71.0% 5.0% N/A

Total Return Ranking - Trailing

Period XHITX Return Category Return Low Category Return High Rank in Category (%)
YTD -26.6% -26.6% 9.6% 100.00%
1 Yr -27.2% -34.2% 15.4% 99.72%
3 Yr -8.7%* -22.4% 6.6% 97.46%
5 Yr N/A* -23.4% 27.5% N/A
10 Yr N/A* -14.9% 13.5% N/A

* Annualized

Total Return Ranking - Calendar

Period XHITX Return Category Return Low Category Return High Rank in Category (%)
2019 5.2% -21.7% 32.8% 69.21%
2018 -1.4% -35.5% 3.9% 10.09%
2017 2.1% -15.9% 21.6% 87.21%
2016 N/A -13.3% 233.7% N/A
2015 N/A -71.0% 6.6% N/A

NAV & Total Return History


Holdings

XHITX - Holdings

Concentration Analysis

XHITX Category Low Category High XHITX % Rank
Net Assets 184 M 963 K 13 B 58.10%
Number of Holdings 66 4 3984 85.83%
Net Assets in Top 10 128 M -1.28 B 61.2 B 35.08%
Weighting of Top 10 46.15% 5.6% 288.6% 26.54%

Top 10 Holdings

  1. Wf-Rbs Com Mg Tst 5.21% 6.56%
  2. JP Morgan Chase Commercial Mortgage Securities Corp 4.25% 6.22%
  3. MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST 5.07% 5.21%
  4. COMM 2013-CCRE11 Mortgage Trust 5.29% 4.71%
  5. J.P. Morgan Chase Commercial Mortgage Securities Trust 5.19% 4.46%
  6. Citigroup Commercial Mortgage Trust 4.56% 4.03%
  7. Commercial Mortgage Trust 5.09% 4.01%
  8. COMM MORTGAGE TRUST 4.77% 3.91%
  9. GS Mortgage Securities Trust 4.22% 3.67%
  10. COMM MORTGAGE TRUST 4.9% 3.38%

Asset Allocation

Weighting Return Low Return High XHITX % Rank
Bonds
93.67% 72.37% 7856.50% 53.85%
Preferred Stocks
3.50% 0.00% 5.22% 0.83%
Cash
2.83% -7776.08% 27.29% 50.07%
Stocks
0.00% -99.58% 110.51% 82.14%
Other
0.00% -11.63% 87.97% 74.00%
Convertible Bonds
0.00% 0.00% 17.63% 94.77%

Bond Sector Breakdown

Weighting Return Low Return High XHITX % Rank
Securitized
90.58% 0.00% 90.58% 0.14%
Corporate
6.62% 0.00% 93.11% 73.59%
Cash & Equivalents
2.79% -221.24% 46.44% 77.85%
Derivative
0.00% -0.31% 70.24% 87.07%
Municipal
0.00% 0.00% 38.08% 82.26%
Government
0.00% -0.16% 263.38% 99.86%

Bond Geographic Breakdown

Weighting Return Low Return High XHITX % Rank
US
93.67% -36.68% 7821.06% 4.26%
Non US
0.00% -12.44% 329.40% 99.17%

Expenses

XHITX - Expenses

Operational Fees

XHITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.25% 0.01% 38.91% 15.99%
Management Fee 1.08% 0.00% 1.77% 92.16%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

XHITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

XHITX 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.

XHITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 16.00% 0.00% 475.00% 12.97%

Distributions

XHITX - Distributions

Dividend Yield Analysis

XHITX Category Low Category High XHITX % Rank
Dividend Yield 0.00% 0.00% 2.73% 79.26%

Dividend Distribution Analysis

XHITX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Annually

Net Income Ratio Analysis

XHITX Category Low Category High XHITX % Rank
Net Income Ratio 5.59% -1.05% 11.37% 14.68%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

XHITX - Fund Manager Analysis

Managers

Brian Norris


Start Date

Tenure

Tenure Rank

Nov 23, 2016

3.6

3.6%

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.

Jason Marshall


Start Date

Tenure

Tenure Rank

Nov 23, 2016

3.6

3.6%

Jason Marshall is a Senior Portfolio Manager on the Structured Securities team with a focus on the mortgage-backed securities (MBS) sector. He works collectively with the Structured Securities team to implement strategies throughout the Invesco Fixed Income platform. Additionally, he is a Portfolio Manager and Investment Committee member for Invesco Mortgage Capital, a mortgage REIT subadvised by Invesco Fixed Income. Mr. Marshall entered the industry in 1997, working for PNC Financial Services Group Inc. before joining Invesco in 2007. He was most recently vice president of portfolio management, where he was responsible for the trading and strategic implementation of the firm’s mortgagebacked securities portfolio. Mr. Marshall earned a BS degree in finance from Indiana University of Pennsylvania. He earned an MBA with a concentration in finance from Duquesne University.

Mario Clemente


Start Date

Tenure

Tenure Rank

Nov 23, 2016

3.6

3.6%

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

Dan Saylor


Start Date

Tenure

Tenure Rank

Nov 23, 2016

3.6

3.6%

Kevin Collins


Start Date

Tenure

Tenure Rank

Nov 23, 2016

3.6

3.6%

Collins has been employed by Fred Alger Management as a senior vice president, portfolio manager and senior analyst since September 2003, prior to which he was employed by the firm as an analyst and later as a vice president and senior analyst from 1996 to September 2003. Prior to joining Alger, he was an equity analyst at the Bank of New York and is a member of the New York Society of Security Analysts. Collins holds the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 28.28 6.13 10.84