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Trending ETFs

Invesco SMA High Yield Bond Fund

mutual fund
SMHYX
Payout Change
Pending
Price as of:
$10.22 -0.02 -0.2%
primary theme
N/A
share class
SMHYX (Mutual Fund)

Invesco SMA High Yield Bond Fund

Payout Change
Pending
Price as of:
$10.22 -0.02 -0.2%
primary theme
N/A
share class
SMHYX (Mutual Fund)

Invesco SMA High Yield Bond Fund

Payout Change
Pending
Price as of:
$10.22 -0.02 -0.2%
primary theme
N/A
share class

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

$10.22

$10.2 M

7.03%

$0.72

0.82%

Vitals

YTD Return

2.2%

1 yr return

3.3%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$10.2 M

Holdings in Top 10

17.7%

52 WEEK LOW AND HIGH

$10.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.82%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

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

$10.22

$10.2 M

7.03%

$0.72

0.82%

SMHYX - Profile

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 7.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco SMA High Yield Bond Fund
  • Fund Family Name
    INVESCOFDS
  • Inception Date
    Mar 02, 2023
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities that are determined to be below investment grade quality, and in derivatives and other instruments that have economic characteristics similar to such securities. These types of securities are commonly referred to as junk bonds. Investment grade securities are: (i) securities rated BBB- or higher by S&P Global Ratings (S&P) or Baa3 or higher by Moody’s Investors Service, Inc. (Moody’s) or an equivalent rating by another nationally recognized statistical rating organization (NRSRO), (ii) securities with comparable short-term NRSRO ratings, or (iii) unrated securities determined by Invesco Advisers, Inc. (Invesco or the Adviser) to be of comparable quality, each at the time of purchase. If two or more NRSROs have assigned different ratings to a security, the Adviser uses the lowest rating assigned.
The Fund will principally invest in junk bonds rated B- or above by an NRSRO or, if unrated, deemed to be of comparable quality by the Adviser.
The Fund may invest in preferred stocks and convertible securities, which are securities that generally pay interest and may be converted into common stock.
The Fund may invest up to 25% of its net assets in foreign securities. With regard to foreign security holdings, up to 15% of the Fund’s net assets may be 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 may also invest in securities not considered foreign securities that carry foreign credit exposure. 
The Fund may purchase mortgage-backed and asset-backed securities such as collateralized mortgage obligations (CMOs), collateralized loan obligations (CLOs) and collateralized debt obligations (CDOs) of any rating. The Fund may invest up to 15% of its net assets in illiquid or thinly traded investments. The Fund also may invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933, as amended. The Fund may also purchase municipal securities. The Fund’s investments may include securities that do not produce immediate cash income, such as zero coupon securities and payment‑in‑kind securities. The Fund may also invest, subject to an overall 15% limit, in loans, in loan participations or assignments. 
The Fund may invest in securities of any maturity or duration. 
The Fund can invest in derivative instruments, including swap contracts, options, futures contracts and forward foreign currency contracts. 
The Fund can use swap contracts, including interest rate swaps, to hedge or adjust its exposure to interest rates. The Fund can also use swap contracts, including credit default swaps, to gain or reduce exposure to an asset class or a particular issue. The Fund can further use swap contracts, including credit default index swaps, to hedge credit risk or take a position on a basket of credit entities and to gain or reduce exposure to an asset class or a particular issue; and use total return swaps to gain exposure to a reference asset. 
The Fund can use options, including credit default swap options, to gain the right to enter into a credit default swap at a specified future date. The Fund can further use swaptions (options on swaps) to manage interest rate risk; currency options to manage currency exposure; and options on bond or rate futures to manage interest rate exposure. 
The Fund can use futures contracts, including interest rate futures, to increase or reduce its exposure to interest rate changes. The Fund can also use currency futures contracts and/or forward foreign currency contracts to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated. 
In selecting securities for the Fund’s portfolio, the Adviser focuses on securities that it believes have favorable prospects for high current income and the possibility of growth of capital. The Adviser conducts a bottom‑up fundamental analysis of an issuer before its securities are purchased by the Fund. The fundamental analysis involves an evaluation by a team of credit analysts of an issuer’s financial statements in order to assess its financial condition. The credit analysts also assess the ability of an issuer to reduce its leverage (i.e., the amount of borrowed debt). The credit research process utilized by the Fund to implement its investment strategy in pursuit of its investment objective considers factors that may include, but are not limited to, an issuer’s operations, capital structure and environmental, social and governance (“ESG”) considerations. Credit quality analysis for certain issuers therefore may consider whether any ESG factors pose a material financial risk or opportunity to an issuer. The Adviser may determine that ESG considerations are not material to certain issuers or types of investments held by the Fund, and not all issuers or Fund investments may undergo a credit quality analysis that considers ESG factors and ESG considerations may not be applied to each issuer or Fund investment. Consideration of ESG factors is just one component of the portfolio managers’ assessment of issuers eligible for investment and not necessarily determinative to an investment decision. Therefore, the Fund’s portfolio managers may still invest in securities of issuers that may be viewed as having a high ESG risk profile. 
The bottom‑up fundamental analysis is supplemented by an ongoing review of the securities’ relative value compared with other junk bonds, and a top‑down analysis of sector and macro-economic trends, such as changes in interest rates. 
The portfolio managers attempt to control the Fund’s risk by limiting the portfolio’s assets that are invested in any one security, and by diversifying the portfolio’s holdings over a number of different industries. Although the Fund is actively managed, it is reviewed regularly against its style-specific benchmark index (the Bloomberg U.S. Corporate High Yield BB/B 2% Issuer Cap Index) and its peer group index (the Lipper High Current Yield Bond Funds Index) to assess the portfolio’s relative risk and its positioning. 
Decisions to purchase or sell securities are determined by the relative value considerations of the portfolio managers that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Fund’s macro risk exposure (such as duration, yield curve positioning and sector exposure), a need to limit or reduce the Fund’s exposure to a particular security or issuer, degradation of an issuer’s credit quality, or general liquidity needs of the Fund. 
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SMHYX - Performance

Return Ranking - Trailing

Period SMHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% N/A N/A N/A
1 Yr 3.3% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period SMHYX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period SMHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% N/A N/A N/A
1 Yr 3.3% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period SMHYX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

NAV & Total Return History


SMHYX - Holdings

Concentration Analysis

SMHYX Category Low Category High SMHYX % Rank
Net Assets 10.2 M N/A N/A N/A
Number of Holdings 164 N/A N/A N/A
Net Assets in Top 10 1.81 M N/A N/A N/A
Weighting of Top 10 17.69% N/A N/A N/A

Top 10 Holdings

  1. Invesco Treasury Portfolio, Institutional Class 2.05%
  2. Iliad Holding 1.94%
  3. International Game Technology PLC 1.89%
  4. Invesco Government Agency Portfolio, Institutional Class 1.79%
  5. Jefferies Finance LLC / JFIN Co-Issuer Corp. 1.76%
  6. Melco Resorts Finance Ltd. 1.76%
  7. Studio City Finance Ltd. 1.71%
  8. CSC Holdings, LLC 1.71%
  9. Mativ Holdings, Inc. 1.57%
  10. Group 1 Automotive, Inc. 1.51%

Asset Allocation

Weighting Return Low Return High SMHYX % Rank
Bonds
95.28% N/A N/A N/A
Cash
5.12% N/A N/A N/A
Stocks
0.00% N/A N/A N/A
Preferred Stocks
0.00% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Other
-0.01% N/A N/A N/A

Bond Sector Breakdown

Weighting Return Low Return High SMHYX % Rank
Cash & Equivalents
5.12% N/A N/A N/A
Securitized
0.00% N/A N/A N/A
Corporate
0.00% N/A N/A N/A
Municipal
0.00% N/A N/A N/A
Government
0.00% N/A N/A N/A
Derivative
-0.01% N/A N/A N/A

Bond Geographic Breakdown

Weighting Return Low Return High SMHYX % Rank
US
93.07% N/A N/A N/A
Non US
2.21% N/A N/A N/A

SMHYX - Expenses

Operational Fees

SMHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.82% N/A N/A N/A
Management Fee 0.00% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

SMHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

SMHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

SMHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

SMHYX - Distributions

Dividend Yield Analysis

SMHYX Category Low Category High SMHYX % Rank
Dividend Yield 7.03% N/A N/A N/A

Dividend Distribution Analysis

SMHYX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly

Net Income Ratio Analysis

SMHYX Category Low Category High SMHYX % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

SMHYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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SMHYX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A