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Invesco Income Advantage International Fund
mutual fund
GTNRX
Payout Change
Pending
Price as of:
$12.63
-0.07
-0.55%
primary theme
N/A
share class
GTNRX (Mutual Fund)
Invesco Income Advantage International Fund
Payout Change
Pending
Price as of:
$12.63
-0.07
-0.55%
primary theme
N/A
share class
GTNRX (Mutual Fund)
Invesco Income Advantage International Fund
Payout Change
Pending
Price as of:
$12.63
-0.07
-0.55%
primary theme
N/A
share class
Name
As of 12/10/2024Price
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
9.4%
1 yr return
12.5%
3 Yr Avg Return
2.5%
5 Yr Avg Return
3.2%
Net Assets
$58.2 M
Holdings in Top 10
37.7%
52 WEEK LOW AND HIGH
$12.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.96%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 115.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
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
GTNRX - Profile
Distributions
- YTD Total Return 9.4%
- 3 Yr Annualized Total Return 2.5%
- 5 Yr Annualized Total Return 3.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.08%
- Dividend Yield 8.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameInvesco Income Advantage International Fund
-
Fund Family NameINVESCOFDS
-
Inception DateOct 31, 2005
-
Shares OutstandingN/A
-
Share ClassR
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMark Ahnrud
Fund Description
The Fund seeks to achieve its investment objective by investing in a diversified portfolio of equity securities and equity-linked notes designed to generate high income while providing some downside protection in the event of broad equity market downturns and also providing equity market upside participation.
The Fund invests primarily in equity securities, including common and preferred stock, equity-linked notes (ELNs) and depositary receipts of U.S. and foreign issuers. A depositary receipt is generally issued by a bank or other financial institution and represents an ownership interest in the common stock or other equity securities of a foreign company. The Fund may also invest in REITs, which are trusts that sell equity and/or debt securities to investors and use the proceeds to invest in real estate or interests therein.
ELNs are hybrid derivative-type instruments that are specially designed to combine the characteristics of investing in one or more underlying equity securities, or an index of equity securities and a related equity derivative, such as a put or call option (or a combination thereof), in a single note form (typically senior, unsecured debt) issued by financial institutions. The Fund will invest in ELNs that reference either a broad-based equity security index or an exchange-traded fund that passively tracks such an index. The Fund’s portfolio of ELNs will be constituted by positions in short-term ELNs issued by a diversified group of U.S. and international financial institutions and cash and cash equivalents.
The Fund may invest a significant amount of its assets in foreign securities. Under normal circumstances, the Fund will provide exposure to investments that are economically tied to at least three different countries outside of the U.S. The Fund may also invest up to 50% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles. The Fund’s exposure to the financials sector may at times be significant.
The Fund can invest in derivative instruments including futures contracts and forward foreign currency contracts. The Fund can use futures contracts, including equity index futures, to gain exposure to the broad market in connection with managing cash balances. The Fund also can use futures contracts, including currency futures and equity index futures, to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated. The Fund can hold long and short positions in equity index futures to hedge against adverse movements in the equity markets. A long position involves the Fund buying a derivative with the anticipation of a price increase of the underlying asset, and a short position involves the Fund writing (selling) a derivative with the anticipation of a price decrease of the underlying asset.
The Fund can use forward foreign currency contracts to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated.
The portfolio managers aim to construct a diversified portfolio that generates high income while providing downside protection against broad equity market drawdowns and providing equity market upside participation. The equity portion of the Fund's portfolio will be constructed using quantitative models that generate broad-based large-cap equity market indices developed by Invesco's affiliate, Invesco Indexing LLC, or third-party index providers (the “Equity portfolio”). The indices will be constructed based on factors to which the portfolio managers seek to gain market exposure, including but not limited to, momentum, value, quality and low volatility. The factors and their relative weighting will change over time based on the portfolio managers' views on the relative strength of each factor and market conditions. The equity portion of the portfolio will therefore change over time.
The portfolio managers also seek to construct a portion of the Fund’s portfolio in high-income, short-term ELNs with a focus on downside protection (the “ELN portfolio”). The portfolio managers seek to enhance portfolio diversification by staggering the maturity dates of the ELNs to create more consistent returns over time. The portion of the ELN portfolio maintained in cash and cash equivalents is aimed at providing additional downside protection by limiting the ELN portfolio’s exposure to broad equity market risk. The portion of the Fund’s assets allocated between the Equity portfolio and ELN portfolio will be actively adjusted on a periodic basis to balance yield targets, to seek to provide equity participation with less volatility, and to seek to provide downside protection.
The Fund can hold a portion of its assets in cash or cash equivalents, including treasury bills and money market funds, in an effort to maintain high liquidity and a downside buffer. From time to time, the Fund’s holdings in cash or cash equivalents may be significant.
GTNRX - Performance
Return Ranking - Trailing
| Period | GTNRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.4% | -35.6% | 29.2% | 23.94% |
| 1 Yr | 12.5% | 17.3% | 252.4% | 94.32% |
| 3 Yr | 2.5%* | -3.5% | 34.6% | 98.05% |
| 5 Yr | 3.2%* | 0.1% | 32.7% | 99.60% |
| 10 Yr | 3.0%* | -6.9% | 18.3% | 96.85% |
* Annualized
Return Ranking - Calendar
| Period | GTNRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.2% | -24.3% | 957.1% | 95.98% |
| 2022 | -18.2% | -38.3% | 47.1% | 79.65% |
| 2021 | 11.8% | -54.2% | 0.6% | 27.46% |
| 2020 | -7.3% | -76.0% | 54.1% | 81.70% |
| 2019 | 14.9% | -26.1% | 47.8% | 73.52% |
Total Return Ranking - Trailing
| Period | GTNRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.4% | -35.6% | 29.2% | 24.50% |
| 1 Yr | 12.5% | 11.4% | 252.4% | 93.07% |
| 3 Yr | 2.5%* | -3.5% | 34.6% | 97.69% |
| 5 Yr | 3.2%* | 0.1% | 32.7% | 99.33% |
| 10 Yr | 3.0%* | -6.9% | 18.3% | 96.66% |
* Annualized
Total Return Ranking - Calendar
| Period | GTNRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.7% | -24.3% | 957.1% | 95.98% |
| 2022 | -13.1% | -33.1% | 47.1% | 79.90% |
| 2021 | 14.5% | -44.4% | 1.8% | 40.92% |
| 2020 | -5.5% | -6.5% | 54.1% | 86.53% |
| 2019 | 17.0% | -14.4% | 47.8% | 61.88% |
NAV & Total Return History
GTNRX - Holdings
Concentration Analysis
| GTNRX | Category Low | Category High | GTNRX % Rank | |
|---|---|---|---|---|
| Net Assets | 58.2 M | 199 K | 133 B | 76.97% |
| Number of Holdings | 1264 | 1 | 9075 | 21.48% |
| Net Assets in Top 10 | 22.8 M | -18 M | 37.6 B | 87.00% |
| Weighting of Top 10 | 37.66% | 9.1% | 100.0% | 98.74% |
Top 10 Holdings
- Invesco Treasury Portfolio, Institutional Class 14.71%
- Invesco Government Agency Portfolio, Institutional Class 7.93%
- iShares Core MSCI Emerging Markets ETF 4.73%
- Invesco Private Prime Fund 3.57%
- Novo Nordisk A/S, Class B 1.55%
- Invesco Private Government Fund 1.38%
- Novartis AG 1.06%
- HSBC Bank PLC 0.94%
- Deutsche Telekom AG 0.92%
- Roche Holding AG 0.87%
Asset Allocation
| Weighting | Return Low | Return High | GTNRX % Rank | |
|---|---|---|---|---|
| Stocks | 72.79% | 61.84% | 125.47% | 1.10% |
| Cash | 27.59% | -174.70% | 23.12% | 98.35% |
| Bonds | 3.86% | -1.50% | 161.67% | 22.80% |
| Preferred Stocks | 0.77% | -0.01% | 5.28% | 27.09% |
| Other | 0.18% | -13.98% | 19.14% | 35.68% |
| Convertible Bonds | 0.00% | 0.00% | 4.46% | 18.94% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GTNRX % Rank | |
|---|---|---|---|---|
| Healthcare | 15.80% | 0.00% | 35.42% | 17.84% |
| Technology | 12.80% | 0.00% | 49.87% | 94.38% |
| Industrials | 12.01% | 0.00% | 44.06% | 44.49% |
| Consumer Defense | 10.81% | 0.00% | 73.28% | 5.62% |
| Basic Materials | 9.78% | 0.00% | 38.60% | 7.05% |
| Financial Services | 9.34% | 0.00% | 38.42% | 92.84% |
| Consumer Cyclical | 9.05% | 0.00% | 40.94% | 57.82% |
| Communication Services | 8.25% | 0.00% | 57.66% | 43.39% |
| Energy | 6.21% | 0.00% | 21.15% | 50.22% |
| Utilities | 3.71% | 0.00% | 29.12% | 21.15% |
| Real Estate | 2.24% | 0.00% | 39.48% | 20.04% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GTNRX % Rank | |
|---|---|---|---|---|
| Non US | 65.93% | 0.58% | 99.46% | 4.52% |
| US | 6.87% | 0.13% | 103.82% | 94.05% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | GTNRX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 27.59% | 0.00% | 100.00% | 98.77% |
| Derivative | 0.18% | 0.00% | 100.00% | 0.67% |
| Securitized | 0.00% | 0.00% | 24.65% | 12.42% |
| Corporate | 0.00% | 0.00% | 99.70% | 36.13% |
| Municipal | 0.00% | 0.00% | 0.70% | 12.42% |
| Government | 0.00% | 0.00% | 100.00% | 20.36% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | GTNRX % Rank | |
|---|---|---|---|---|
| US | 3.86% | -0.01% | 130.80% | 22.80% |
| Non US | 0.00% | -11.21% | 30.87% | 17.73% |
GTNRX - Expenses
Operational Fees
| GTNRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.96% | 0.01% | 44.27% | 24.06% |
| Management Fee | 0.75% | 0.00% | 1.82% | 70.79% |
| 12b-1 Fee | 0.50% | 0.00% | 1.00% | 61.86% |
| Administrative Fee | N/A | 0.01% | 0.76% | N/A |
Sales Fees
| GTNRX 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
| GTNRX 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.
| GTNRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 115.00% | 0.00% | 395.00% | 76.26% |
GTNRX - Distributions
Dividend Yield Analysis
| GTNRX | Category Low | Category High | GTNRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 8.24% | 0.00% | 3.26% | 16.96% |
Dividend Distribution Analysis
| GTNRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annually | Annually | Annually |
Net Income Ratio Analysis
| GTNRX | Category Low | Category High | GTNRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.08% | -4.27% | 12.65% | 31.93% |
Capital Gain Distribution Analysis
| GTNRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 21, 2024 | $0.087 | OrdinaryDividend |
| Oct 17, 2024 | $0.087 | OrdinaryDividend |
| Sep 26, 2024 | $0.087 | OrdinaryDividend |
| Aug 15, 2024 | $0.087 | OrdinaryDividend |
| Jul 18, 2024 | $0.087 | OrdinaryDividend |
| Apr 18, 2024 | $0.081 | OrdinaryDividend |
| Mar 28, 2024 | $0.081 | OrdinaryDividend |
| Jan 18, 2024 | $0.081 | OrdinaryDividend |
| Dec 13, 2023 | $0.082 | OrdinaryDividend |
| Nov 16, 2023 | $0.081 | OrdinaryDividend |
| Oct 19, 2023 | $0.081 | OrdinaryDividend |
| Sep 28, 2023 | $0.081 | OrdinaryDividend |
| Aug 17, 2023 | $0.081 | OrdinaryDividend |
| Jul 20, 2023 | $0.081 | OrdinaryDividend |
| Jun 22, 2023 | $0.081 | OrdinaryDividend |
| May 18, 2023 | $0.080 | OrdinaryDividend |
| Apr 20, 2023 | $0.080 | OrdinaryDividend |
| Mar 23, 2023 | $0.080 | OrdinaryDividend |
| Feb 16, 2023 | $0.077 | OrdinaryDividend |
| Jan 19, 2023 | $0.077 | OrdinaryDividend |
| Dec 14, 2022 | $0.077 | OrdinaryDividend |
| Nov 17, 2022 | $0.076 | OrdinaryDividend |
| Oct 20, 2022 | $0.076 | OrdinaryDividend |
| Sep 22, 2022 | $0.076 | OrdinaryDividend |
| Aug 18, 2022 | $0.075 | OrdinaryDividend |
| Jul 21, 2022 | $0.075 | OrdinaryDividend |
| Jun 23, 2022 | $0.075 | OrdinaryDividend |
| May 19, 2022 | $0.071 | OrdinaryDividend |
| Apr 21, 2022 | $0.071 | OrdinaryDividend |
| Mar 24, 2022 | $0.071 | OrdinaryDividend |
| Dec 14, 2021 | $0.070 | OrdinaryDividend |
| Nov 18, 2021 | $0.070 | OrdinaryDividend |
| Oct 21, 2021 | $0.070 | OrdinaryDividend |
| Sep 23, 2021 | $0.063 | OrdinaryDividend |
| Jun 24, 2021 | $0.040 | OrdinaryDividend |
| Mar 25, 2021 | $0.041 | OrdinaryDividend |
| Dec 11, 2020 | $0.040 | OrdinaryDividend |
| Sep 17, 2020 | $0.045 | OrdinaryDividend |
| Jun 18, 2020 | $0.064 | OrdinaryDividend |
| Mar 19, 2020 | $0.079 | OrdinaryDividend |
| Dec 13, 2019 | $0.079 | OrdinaryDividend |
| Sep 19, 2019 | $0.079 | OrdinaryDividend |
| Jun 20, 2019 | $0.055 | OrdinaryDividend |
| Mar 21, 2019 | $0.045 | OrdinaryDividend |
| Dec 14, 2018 | $0.045 | OrdinaryDividend |
| Sep 13, 2018 | $0.044 | OrdinaryDividend |
| Jun 21, 2018 | $0.044 | OrdinaryDividend |
| Mar 22, 2018 | $0.069 | OrdinaryDividend |
| Dec 13, 2017 | $0.094 | OrdinaryDividend |
| Sep 14, 2017 | $0.094 | OrdinaryDividend |
| Jun 15, 2017 | $0.094 | OrdinaryDividend |
| Mar 16, 2017 | $0.095 | OrdinaryDividend |
| Dec 13, 2016 | $0.105 | OrdinaryDividend |
| Sep 15, 2016 | $0.104 | OrdinaryDividend |
| Jun 16, 2016 | $0.104 | OrdinaryDividend |
| Mar 17, 2016 | $0.105 | OrdinaryDividend |
| Sep 17, 2015 | $0.124 | OrdinaryDividend |
| Jun 18, 2015 | $0.123 | OrdinaryDividend |
| Mar 19, 2015 | $0.123 | OrdinaryDividend |
| Dec 12, 2014 | $0.123 | OrdinaryDividend |
| Sep 18, 2014 | $0.122 | OrdinaryDividend |
| Jun 19, 2014 | $0.122 | OrdinaryDividend |
| Mar 20, 2014 | $0.123 | OrdinaryDividend |
| Dec 13, 2013 | $0.124 | OrdinaryDividend |
| Sep 19, 2013 | $0.124 | OrdinaryDividend |
| Dec 07, 2012 | $0.228 | OrdinaryDividend |
| Dec 09, 2011 | $0.103 | OrdinaryDividend |
| Dec 10, 2010 | $0.109 | OrdinaryDividend |
| Dec 11, 2009 | $0.134 | OrdinaryDividend |
| Dec 12, 2008 | $0.025 | CapitalGainShortTerm |
| Dec 12, 2008 | $0.538 | CapitalGainLongTerm |
| Dec 12, 2008 | $0.032 | OrdinaryDividend |
| Dec 14, 2007 | $1.056 | CapitalGainShortTerm |
| Dec 14, 2007 | $1.140 | CapitalGainLongTerm |
| Dec 14, 2007 | $0.267 | OrdinaryDividend |
| Dec 15, 2006 | $0.547 | CapitalGainShortTerm |
| Dec 15, 2006 | $1.243 | CapitalGainLongTerm |
| Dec 15, 2006 | $0.162 | OrdinaryDividend |
| Dec 16, 2005 | $0.130 | OrdinaryDividend |
| Dec 16, 2005 | $0.514 | CapitalGainShortTerm |
| Dec 16, 2005 | $0.942 | CapitalGainLongTerm |
GTNRX - Fund Manager Analysis
Managers
Mark Ahnrud
Start Date
Tenure
Tenure Rank
Jul 15, 2021
0.88
0.9%
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
Jul 15, 2021
0.88
0.9%
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
Jul 15, 2021
0.88
0.9%
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
Jul 15, 2021
0.88
0.9%
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.
John Burrello
Start Date
Tenure
Tenure Rank
Jul 15, 2021
0.88
0.9%
Scott Hixon
Start Date
Tenure
Tenure Rank
Jul 15, 2021
0.88
0.9%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 35.82 | 6.24 | 1.25 |
