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Trending ETFs

Invesco Income Advantage U.S. Fund

mutual fund
SLESX
Payout Change
Pending
Price as of:
$10.88 +0.01 +0.09%
primary theme
N/A
SLESX (Mutual Fund)

Invesco Income Advantage U.S. Fund

Payout Change
Pending
Price as of:
$10.88 +0.01 +0.09%
primary theme
N/A
SLESX (Mutual Fund)

Invesco Income Advantage U.S. Fund

Payout Change
Pending
Price as of:
$10.88 +0.01 +0.09%
primary theme
N/A

Name

As of 06/14/2024

Price

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

$10.88

$182 M

6.88%

$0.75

0.81%

Vitals

YTD Return

10.0%

1 yr return

17.8%

3 Yr Avg Return

6.4%

5 Yr Avg Return

7.0%

Net Assets

$182 M

Holdings in Top 10

44.5%

52 WEEK LOW AND HIGH

$10.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.81%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

Price

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

$10.88

$182 M

6.88%

$0.75

0.81%

SLESX - Profile

Distributions

  • YTD Total Return 10.0%
  • 3 Yr Annualized Total Return 6.4%
  • 5 Yr Annualized Total Return 7.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.59%
DIVIDENDS
  • Dividend Yield 6.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco Income Advantage U.S. Fund
  • Fund Family Name
    INVESCOFDS
  • Inception Date
    Apr 04, 2017
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Wolle

Fund Description

The Fund seeks to achieve its investment objective by investing primarily in a diversified portfolio of U.S equity securities,including common stock and equity-linked notes (ELNs). The Fund is 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, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of U.S. issuers, and in derivatives and other instruments that have economic characteristics similar to such securities. ELNs are counted toward the foregoing 80% policy to the extent they have economic characteristics similar to the securities included within that policy. The Fund uses various criteria to determine whether an issuer is a U.S. issuer, including whether (i) its principal securities trading market (i.e., a U.S. stock exchange, NASDAQ or over-the-counter markets) is in the U.S.; (ii) it (alone or through its consolidated subsidiaries) derives 50% or more of its annual revenue from goods produced, sales made, or services performed in the U.S.; (iii) it is organized under the laws of, or has a principal office in, the U.S.; or (iv) its “country of risk” is the U.S. as determined by a third party service provider such as Bloomberg.
The Fund may also invest in real estate investment trusts (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. ELNs may be subject to resalerestrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933, as amended.
The Fund can invest in derivative instruments including futures 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 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 portfolio managers seek to construct the equity portion of the Fund’s portfolio 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 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, equity participation with less volatility, and downside protection.
The Fund may hold up to 25% of its assets in cash or cash equivalents, including treasury bills and money market funds, outside of the ELN portfolio in an effort to maintain high liquidity and a downside buffer.
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SLESX - Performance

Return Ranking - Trailing

Period SLESX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.0% -88.2% 43.3% 75.04%
1 Yr 17.8% -11.4% 81.7% 97.06%
3 Yr 6.4%* -1.8% 22.6% 98.77%
5 Yr 7.0%* 3.1% 19.7% 97.89%
10 Yr N/A* 2.0% 19.2% 97.09%

* Annualized

Return Ranking - Calendar

Period SLESX Return Category Return Low Category Return High Rank in Category (%)
2023 9.5% -26.7% 285.0% 84.24%
2022 -18.7% -32.1% 76.3% 90.06%
2021 8.3% -62.4% 16.7% 23.98%
2020 -5.0% -72.0% 37.9% N/A
2019 10.7% -61.4% 31.0% N/A

Total Return Ranking - Trailing

Period SLESX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.0% -88.1% 43.3% 75.25%
1 Yr 17.8% -11.4% 86.0% 93.54%
3 Yr 6.4%* -1.8% 22.6% 97.98%
5 Yr 7.0%* 2.7% 19.7% 96.54%
10 Yr N/A* 1.8% 19.2% 96.95%

* Annualized

Total Return Ranking - Calendar

Period SLESX Return Category Return Low Category Return High Rank in Category (%)
2023 17.7% -26.7% 285.0% 84.24%
2022 -14.0% -32.1% 76.3% 90.06%
2021 22.9% -37.1% 17.4% 54.14%
2020 -2.8% -9.5% 37.9% N/A
2019 12.8% -27.9% 32.2% N/A

NAV & Total Return History


SLESX - Holdings

Concentration Analysis

SLESX Category Low Category High SLESX % Rank
Net Assets 182 M 390 K 131 B 78.63%
Number of Holdings 396 2 1654 3.82%
Net Assets in Top 10 81 M 1.44 K 28.6 B 57.73%
Weighting of Top 10 44.48% 5.3% 100.0% 20.41%

Top 10 Holdings

  1. Invesco Treasury Portfolio, Institutional Class 9.83%
  2. Invesco Government Agency Portfolio, Institutional Class 8.60%
  3. Invesco Liquid Assets Portfolio 6.05%
  4. Microsoft Corp. 4.17%
  5. Apple Inc. 3.02%
  6. Meta Platforms, Inc., Class A 3.01%
  7. NVIDIA Corp. 2.66%
  8. Berkshire Hathaway Inc., Class B 2.49%
  9. Alphabet Inc., Class A 2.46%
  10. Amazon.com, Inc. 2.19%

Asset Allocation

Weighting Return Low Return High SLESX % Rank
Stocks
73.38% 51.79% 144.97% 99.68%
Cash
25.58% -78.75% 44.25% 0.19%
Bonds
2.29% 0.00% 71.66% 27.69%
Other
0.05% -8.78% 26.80% 27.05%
Preferred Stocks
0.00% 0.00% 23.40% 29.98%
Convertible Bonds
0.00% 0.00% 9.12% 25.53%

Stock Sector Breakdown

Weighting Return Low Return High SLESX % Rank
Technology
22.47% 0.00% 54.02% 7.60%
Healthcare
15.88% 0.00% 37.79% 66.73%
Communication Services
13.54% 0.00% 27.08% 1.85%
Financial Services
12.88% 0.00% 54.74% 83.78%
Industrials
8.02% 0.00% 45.08% 80.01%
Consumer Defense
7.97% 0.00% 37.30% 73.24%
Consumer Cyclical
7.95% 0.00% 32.98% 24.33%
Utilities
3.37% 0.00% 32.19% 71.46%
Real Estate
3.25% 0.00% 97.30% 40.42%
Energy
2.59% 0.00% 26.93% 86.02%
Basic Materials
2.07% 0.00% 27.17% 71.46%

Stock Geographic Breakdown

Weighting Return Low Return High SLESX % Rank
US
73.38% 26.40% 143.58% 99.24%
Non US
0.00% 0.00% 49.16% 73.14%

Bond Sector Breakdown

Weighting Return Low Return High SLESX % Rank
Cash & Equivalents
25.58% 0.00% 100.00% 12.22%
Derivative
0.05% 0.00% 75.06% 20.31%
Securitized
0.00% 0.00% 43.45% 18.53%
Corporate
0.00% 0.00% 100.00% 30.74%
Municipal
0.00% 0.00% 0.49% 16.99%
Government
0.00% 0.00% 88.82% 19.26%

Bond Geographic Breakdown

Weighting Return Low Return High SLESX % Rank
US
2.29% -0.10% 45.24% 27.37%
Non US
0.00% 0.00% 26.42% 24.57%

SLESX - Expenses

Operational Fees

SLESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.81% 0.01% 4.02% 50.80%
Management Fee 0.60% 0.00% 1.69% 51.91%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

SLESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.95% 5.50% N/A

Trading Fees

SLESX 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.

SLESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 488.00% 89.19%

SLESX - Distributions

Dividend Yield Analysis

SLESX Category Low Category High SLESX % Rank
Dividend Yield 6.88% 0.00% 2.60% 29.80%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SLESX Category Low Category High SLESX % Rank
Net Income Ratio 1.59% -3.83% 5.38% 28.92%

Capital Gain Distribution Analysis

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

Distributions History

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SLESX - Fund Manager Analysis

Managers

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.

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.

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.

John Burrello


Start Date

Tenure

Tenure Rank

Jul 15, 2021

0.88

0.9%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 85.84 7.17 5.96