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Invesco Fundamental Alternatives Fund
mutual fund
QOPNX
Payout Change
Pending
Price as of:
$23.75
+0.01
+0.04%
primary theme
N/A
share class
QOPNX (Mutual Fund)
Invesco Fundamental Alternatives Fund
Payout Change
Pending
Price as of:
$23.75
+0.01
+0.04%
primary theme
N/A
share class
QOPNX (Mutual Fund)
Invesco Fundamental Alternatives Fund
Payout Change
Pending
Price as of:
$23.75
+0.01
+0.04%
primary theme
N/A
share class
Name
As of 01/17/2025Price
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
1.1%
1 yr return
6.3%
3 Yr Avg Return
1.3%
5 Yr Avg Return
0.9%
Net Assets
$324 M
Holdings in Top 10
43.3%
52 WEEK LOW AND HIGH
$23.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.66%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 01/17/2025Price
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
QOPNX - Profile
Distributions
- YTD Total Return 1.1%
- 3 Yr Annualized Total Return 1.3%
- 5 Yr Annualized Total Return 0.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.53%
- Dividend Yield 1.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameInvesco Fundamental Alternatives Fund
-
Fund Family NameOppenheimerFunds
-
Inception DateMar 01, 2001
-
Shares OutstandingN/A
-
Share ClassR
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTarun Gupta
Fund Description
2. The following information regarding the Fund’s principal investment strategies will replace in its entirety similar information appearing in the sections under the headings “Fund Summary - Principal Investment Strategies of the Fund” and “Investment Objective(s), Strategies, Risks and Portfolio Holdings - Objective(s) and Strategies”:
Invesco Advisers, Inc. (Invesco or the Adviser), exercises a flexible overall strategy in selecting investments by using multiple alternative investment strategies, certain of which may use long and short positions, to build a portfolio in pursuit of the Fund’s investment objective. The portfolio managers seek to identify investments and strategies that focus on mitigation of downside risk and have the potential for investment returns that have low correlation to traditional asset classes. The portfolio managers seek to allocate the Fund’s assets across alternative investment strategies based on their view of the attractiveness of the various strategies and their risks to the Fund at any given point in time based on market conditions. The Fund is expected to have long and/or short exposure across all four major asset classes (equities, fixed income, commodities and currencies), but at times the Fund may emphasize one or more of the asset classes or limit the long and/or short exposures within one or more of the asset classes depending on the portfolio managers’ view of the opportunities available. The Fund may invest a substantial portion of its assets in active and passive exchange-traded funds (ETFs).
The portfolio managers generally use an investment approach in which the Fund seeks to buy (i.e., go long) an asset when it has been doing well or sell (i.e., go short) an asset when it has been doing poorly. The portfolio managers may use the following strategies as part of this investment approach: long/short equity strategies, long/short fixed income strategies, long/short commodity strategies, and long/short currency strategies. The Fund’s overall long or short positioning within these strategies can vary based on market conditions. The Fund may take both long and short positions simultaneously. Short positions can be held for various purposes, including to express views in a particular area of the market, to hedge the Fund’s overall risk, or to hedge a specific position held by the Fund. The Fund will limit its total short sale positions to no more than 40% of its net assets at the time the short sale is entered into. The Fund currently intends, under normal circumstances, to implement its short market exposure through derivatives, rather than actual short sale positions (i.e., actual short sales of securities). Derivative instruments that provide short market exposure such as options, futures, swaps or forward foreign currency contracts are not deemed to constitute short sale positions for purposes of this limitation.
As part of the investment process, the portfolio managers may utilize factor-based strategies that involve systematically targeting securities exhibiting quantifiable issuer characteristics (or factors) of the underlying companies, industries and indices, along with a top-down macroeconomic overlay. These factors include, but are not limited to, momentum, value, quality, carry, size and volatility. The above factors may vary in particular cases and may change over time. The Fund may sell securities that the portfolio managers believe no longer meet these factors but is not required to do so. The portfolio managers typically attempt to allocate the Fund’s assets across the strategies discussed above in a way that seeks to provide strong risk-adjusted return potential. In response to changing market, economic, company, and industry-specific conditions and/or valuations and risk allocation fluctuations, the portfolio managers may change the Fund’s allocation to a particular strategy and may also implement new strategies or reduce the Fund’s allocation to any strategy to zero.
The Fund may invest a substantial portion of its assets in foreign securities, including companies in developed and emerging market countries and has no limit on the amount it can invest in such securities.
To implement the multiple strategies described above, the Fund may hold long and short positions in a variety of instruments, which include:
Equity Securities. The Fund may invest in common stocks of U.S. and foreign companies without regard to the issuer’s location, size, market capitalization or industry sector, as well as ETFs with exposure to these instruments. The Fund may invest in equity securities of any investment style, including value, core, and growth investing styles.
Fixed Income Instruments. The Fund may invest in fixed income instruments, including bonds and notes or other debt securities issued by U.S. and foreign companies and governments, money market instruments, corporate bonds, and convertible bonds. The Fund may invest in investment grade or below-investment-grade debt securities (commonly referred to as “junk bonds”). The Fund may invest without limit in securities that are rated below-investment-grade and at times may invest substantial amounts of its assets in those securities. Investment-grade debt securities are rated in one of the top four rating categories by nationally recognized statistical rating organizations (NRSROs) such as Moody’s Investors Service or S&P Global Ratings. The Fund may also invest in unrated securities, in which case the Adviser may internally assign ratings to certain of those securities, after assessing their credit quality, in investment-grade or below investment-grade categories similar to those of NRSROs. The Fund may also invest in other fixed income securities, including asset-backed securities, mortgage-backed securities, participation interests in loans, pooled investment entities that invest in loans, and senior floating rate loans (collateralized or uncollateralized). The Fund can also invest in ETFs with exposure to the above instruments.
Derivatives and Other Assets. The Fund may invest in derivative instruments and other assets, including options, futures, forward contracts, swaps (including on equity and fixed income securities and indices, commodities, interest rates, currencies and volatility), “structured” notes, mortgage-related securities, equity-linked debt securities (such as equity-linked notes), commodity-linked derivatives, and currency derivatives.
Cayman Islands Subsidiary. The Fund may invest up to 25% of its total assets in a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). The Subsidiary may invest in commodity-linked derivatives (including commodity futures, financial futures, options, and swap contracts), ETFs and other exchange-traded products related to gold or other special minerals (Gold ETFs), and ETFs with exposure to other commodities (Commodity ETFs). The Subsidiary may also invest in certain fixed-income investments and other investments that may serve as margin or collateral for its derivatives positions. Investments in the Subsidiary are intended to provide the Fund with exposure to commodities market returns within the limitations of the federal tax requirements that apply to the Fund. In managing the Subsidiary’s portfolio, the Adviser will be subject to the same operational guidelines that apply to the management of the Fund. The Fund applies its investment restrictions and compliance policies and procedures, on a look-through basis, to the Subsidiary. The Fund’s investment in the Subsidiary may vary based on the portfolio managers’ use of different types of commodity-linked derivatives, fixed income investments, Gold ETFs, Commodity ETFs, and other investments. Since the Fund may invest a substantial portion of its assets in the Subsidiary, which may hold certain of the investments described in this prospectus, the Fund may be considered to be investing indirectly in those investments through its Subsidiary. Therefore, references in this prospectus to investments by the Fund also may be deemed to include the Fund’s indirect investments through the Subsidiary, and the Fund will be subject to the risks associated with any investment by the Subsidiary.
QOPNX - Performance
Return Ranking - Trailing
| Period | QOPNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.1% | -73.0% | 19.4% | 73.48% |
| 1 Yr | 6.3% | -9.1% | 86.9% | 65.82% |
| 3 Yr | 1.3%* | -9.5% | 16.2% | 75.50% |
| 5 Yr | 0.9%* | -4.9% | 14.4% | 80.27% |
| 10 Yr | 1.2%* | -0.9% | 7.5% | 78.72% |
* Annualized
Return Ranking - Calendar
| Period | QOPNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 3.5% | -22.7% | 305.1% | 67.04% |
| 2023 | -1.3% | -9.8% | 27.3% | 54.03% |
| 2022 | -9.9% | -20.8% | 10.9% | 19.56% |
| 2021 | -0.5% | -12.4% | 29.4% | 87.13% |
| 2020 | -0.5% | -10.5% | 15.8% | 47.12% |
Total Return Ranking - Trailing
| Period | QOPNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.1% | -73.0% | 19.4% | 73.48% |
| 1 Yr | 6.3% | -13.4% | 86.9% | 60.36% |
| 3 Yr | 1.3%* | -9.5% | 16.2% | 67.47% |
| 5 Yr | 0.9%* | -5.3% | 14.4% | 76.68% |
| 10 Yr | 1.2%* | -0.9% | 7.5% | 76.60% |
* Annualized
Total Return Ranking - Calendar
| Period | QOPNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 5.5% | -22.7% | 305.1% | 67.04% |
| 2023 | 3.2% | -9.8% | 27.3% | 54.44% |
| 2022 | -7.5% | -20.8% | 10.9% | 27.56% |
| 2021 | 2.2% | -8.4% | 29.4% | 93.56% |
| 2020 | 1.2% | -10.2% | 18.0% | 56.02% |
NAV & Total Return History
QOPNX - Holdings
Concentration Analysis
| QOPNX | Category Low | Category High | QOPNX % Rank | |
|---|---|---|---|---|
| Net Assets | 324 M | 1.5 M | 5.01 B | 20.66% |
| Number of Holdings | 499 | 4 | 4478 | 32.86% |
| Net Assets in Top 10 | 131 M | -398 M | 2.55 B | 30.39% |
| Weighting of Top 10 | 43.27% | 13.1% | 100.0% | 20.64% |
Top 10 Holdings
- Invesco Treasury Portfolio, Institutional Class 25.01%
- U.S. Treasury Notes/Bonds 5.20%
- U.S. Treasury Notes/Bonds 4.11%
- U.S. Treasury Notes 2.86%
- U.S. Treasury Notes/Bonds 1.34%
- Apple Inc. 1.21%
- Microsoft Corp. 1.19%
- NVIDIA Corp. 1.17%
- International Business Machines Corp. 0.59%
- Duke Energy Corp. 0.58%
Asset Allocation
| Weighting | Return Low | Return High | QOPNX % Rank | |
|---|---|---|---|---|
| Cash | 39.32% | -6278.21% | 410.43% | 58.30% |
| Stocks | 35.45% | -3.75% | 97.95% | 47.00% |
| Bonds | 25.27% | -326.45% | 6347.80% | 33.22% |
| Convertible Bonds | 0.43% | 0.00% | 87.92% | 46.64% |
| Preferred Stocks | 0.00% | -0.12% | 46.97% | 76.68% |
| Other | -0.04% | -21.53% | 148.54% | 32.51% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | QOPNX % Rank | |
|---|---|---|---|---|
| Technology | 20.62% | 0.00% | 39.58% | 33.07% |
| Healthcare | 16.94% | 0.00% | 45.63% | 14.57% |
| Consumer Defense | 11.84% | 0.00% | 13.62% | 3.54% |
| Financial Services | 9.64% | 0.00% | 59.28% | 83.07% |
| Industrials | 9.52% | 0.00% | 21.45% | 41.73% |
| Communication Services | 8.67% | 0.00% | 21.78% | 10.63% |
| Consumer Cyclical | 7.90% | 0.00% | 29.09% | 86.61% |
| Utilities | 6.29% | 0.00% | 9.23% | 65.35% |
| Energy | 3.54% | 0.00% | 100.00% | 69.69% |
| Basic Materials | 2.56% | 0.00% | 27.46% | 75.59% |
| Real Estate | 2.48% | 0.00% | 51.26% | 67.32% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | QOPNX % Rank | |
|---|---|---|---|---|
| US | 35.45% | -8.85% | 91.88% | 35.69% |
| Non US | 0.00% | -19.62% | 42.11% | 63.60% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | QOPNX % Rank | |
|---|---|---|---|---|
| Government | 36.30% | 0.00% | 84.29% | 18.73% |
| Cash & Equivalents | 25.72% | 0.27% | 100.00% | 42.76% |
| Corporate | 12.85% | 0.00% | 87.73% | 56.54% |
| Securitized | 0.11% | 0.00% | 56.83% | 47.70% |
| Municipal | 0.00% | 0.00% | 27.33% | 74.56% |
| Derivative | -0.04% | 0.00% | 88.81% | 67.84% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | QOPNX % Rank | |
|---|---|---|---|---|
| US | 21.48% | -126.19% | 6311.18% | 33.92% |
| Non US | 3.79% | -382.37% | 121.02% | 28.62% |
QOPNX - Expenses
Operational Fees
| QOPNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.66% | 0.29% | 31.15% | 52.88% |
| Management Fee | 0.84% | 0.00% | 2.50% | 38.52% |
| 12b-1 Fee | 0.50% | 0.00% | 1.00% | 70.95% |
| Administrative Fee | N/A | 0.01% | 0.30% | N/A |
Sales Fees
| QOPNX 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
| QOPNX 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.
| QOPNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 491.00% | 78.23% |
QOPNX - Distributions
Dividend Yield Analysis
| QOPNX | Category Low | Category High | QOPNX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.11% | 0.00% | 4.56% | 69.61% |
Dividend Distribution Analysis
| QOPNX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| QOPNX | Category Low | Category High | QOPNX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.53% | -2.51% | 6.83% | 42.81% |
Capital Gain Distribution Analysis
| QOPNX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 16, 2024 | $0.070 | CapitalGainShortTerm |
| Dec 16, 2024 | $0.264 | OrdinaryDividend |
| Dec 16, 2024 | $0.118 | CapitalGainLongTerm |
| Dec 15, 2023 | $0.148 | OrdinaryDividend |
| Dec 15, 2023 | $0.896 | CapitalGainLongTerm |
| Dec 16, 2022 | $0.617 | CapitalGainLongTerm |
| Dec 16, 2021 | $0.697 | OrdinaryDividend |
| Dec 11, 2020 | $0.439 | OrdinaryDividend |
| Dec 13, 2019 | $0.446 | OrdinaryDividend |
| Dec 13, 2018 | $0.391 | OrdinaryDividend |
| Dec 14, 2017 | $0.370 | OrdinaryDividend |
| Dec 28, 2016 | $0.056 | OrdinaryDividend |
| Dec 29, 2015 | $0.087 | OrdinaryDividend |
| Dec 01, 2014 | $0.397 | OrdinaryDividend |
| Dec 07, 2011 | $0.789 | CapitalGainShortTerm |
| Dec 07, 2011 | $1.353 | CapitalGainLongTerm |
| Dec 28, 2010 | $0.514 | CapitalGainLongTerm |
| Dec 29, 2008 | $0.851 | CapitalGainLongTerm |
| Dec 27, 2007 | $0.507 | CapitalGainShortTerm |
| Dec 27, 2007 | $1.752 | CapitalGainLongTerm |
| Dec 27, 2007 | $3.331 | OrdinaryDividend |
| Dec 07, 2006 | $0.440 | CapitalGainShortTerm |
| Dec 07, 2006 | $0.791 | CapitalGainLongTerm |
| Dec 07, 2006 | $0.267 | OrdinaryDividend |
| Dec 07, 2005 | $1.147 | CapitalGainShortTerm |
| Dec 07, 2005 | $3.072 | CapitalGainLongTerm |
| Dec 07, 2005 | $0.126 | OrdinaryDividend |
| Dec 07, 2004 | $2.227 | CapitalGainShortTerm |
| Dec 09, 2003 | $0.004 | OrdinaryDividend |
| Dec 10, 2002 | $0.230 | OrdinaryDividend |
| Dec 10, 2001 | $0.518 | OrdinaryDividend |
QOPNX - Fund Manager Analysis
Managers
Tarun Gupta
Start Date
Tenure
Tenure Rank
Oct 15, 2020
1.62
1.6%
Chris Devine
Start Date
Tenure
Tenure Rank
Oct 15, 2020
1.62
1.6%
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.
Scott Wolle
Start Date
Tenure
Tenure Rank
Oct 15, 2020
1.62
1.6%
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.
Jay Raol
Start Date
Tenure
Tenure Rank
Oct 15, 2020
1.62
1.6%
Jay Raol, Portfolio Manager, has been associated with Invesco and/or its affiliates since 2013.
Scott Hixon
Start Date
Tenure
Tenure Rank
Oct 15, 2020
1.62
1.6%
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 |
|---|---|---|---|
| 0.02 | 17.37 | 4.48 | 1.67 |
