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Trending ETFs

Invesco Quality Income Fund

mutual fund
VUSIX
Payout Change
Pending
Price as of:
$9.76 -0.01 -0.1%
primary theme
Intermediate-Term U.S. Treasury Bond
share class
R6 (VUSSX) R (VUSRX) Y (VUSIX) A (VKMGX) C (VUSCX) R5 (VUSJX)
VUSIX (Mutual Fund)

Invesco Quality Income Fund

Payout Change
Pending
Price as of:
$9.76 -0.01 -0.1%
primary theme
Intermediate-Term U.S. Treasury Bond
share class
R6 (VUSSX) R (VUSRX) Y (VUSIX) A (VKMGX) C (VUSCX) R5 (VUSJX)
VUSIX (Mutual Fund)

Invesco Quality Income Fund

Payout Change
Pending
Price as of:
$9.76 -0.01 -0.1%
primary theme
Intermediate-Term U.S. Treasury Bond
share class
R6 (VUSSX) R (VUSRX) Y (VUSIX) A (VKMGX) C (VUSCX) R5 (VUSJX)

Name

As of 12/10/2024

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

Invesco Quality Income Fund

VUSIX | Fund

$9.76

$582 M

4.43%

$0.43

0.62%

Vitals

YTD Return

3.3%

1 yr return

6.2%

3 Yr Avg Return

-1.6%

5 Yr Avg Return

-0.1%

Net Assets

$582 M

Holdings in Top 10

26.4%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.62%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 401.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/10/2024

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

Invesco Quality Income Fund

VUSIX | Fund

$9.76

$582 M

4.43%

$0.43

0.62%

VUSIX - Profile

Distributions

  • YTD Total Return 3.3%
  • 3 Yr Annualized Total Return -1.6%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.84%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco Quality Income Fund
  • Fund Family Name
    INVESCOFDS
  • Inception Date
    Sep 25, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Y
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Clint Dudley

Fund Description

The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the U.S. government, its agencies, instrumentalities or sponsored corporations (a Federal Agency), and in mortgage-backed securities privately issued in the United States, and in derivatives and other instruments that have economic characteristics similar to such securities.
Mortgage-backed securities generally consist of government mortgage pass-through securities, collateralized mortgage obligations (CMOs), multiclass pass-through securities, private mortgage pass-through securities, stripped mortgage securities and inverse floaters. The Fund historically has invested primarily in mortgage-backed securities that directly or indirectly represent a participation in, or are secured by and payable from, mortgage loans secured by real property. Mortgage-backed securities also include mortgage pass-through certificates representing participation interests in pools of mortgage loans originated by the U.S. government or private lenders and guaranteed by U.S. government agencies such as the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC).
The Fund may invest in real estate mortgage investment conduits (REMICs).
The Fund may invest in stripped mortgage securities, which are derivative multi-class mortgage securities.
The Fund may also invest in asset-backed securities.
The Fund may invest in illiquid or thinly traded securities. The Fund may also invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933. 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 purchase and sell securities on a when-issued and delayed delivery basis, which means that the Fund may buy or sell a security with payment and delivery taking place in the future. The Fund may also engage in “to be announced” (TBA) transactions, which are transactions in which a fund buys or sells mortgage-backed securities on a forward commitment basis. TBA transactions may be conducted as dollar rolls. The Fund may engage in short sales of TBA mortgages, including short sales of TBA mortgages the Fund does not own.
The Fund can invest in derivative instruments including swap contracts, options and futures 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 create long or short exposure to corporate or sovereign debt securities. The Fund can further use total return swaps to gain exposure to a reference asset, and volatility swaps to adjust the volatility profile of the Fund.
The Fund can use options, including swaptions (options on swaps), to manage interest rate risk 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 utilizes active duration (i.e., making investments to reduce or increase the sensitivity of the Fund’s portfolio to interest rate changes) and yield curve positioning (i.e., making investments that allow the Fund to benefit from varying interest rates) for risk management and for generating alpha (return on investments in excess of the Bloomberg U.S. Mortgage-Backed Securities Index).
The portfolio managers utilize the Bloomberg U.S. Mortgage-Backed Securities Index as a reference in structuring the portfolio. The portfolio managers decide on appropriate risk factors such as duration, the shape of the U.S. Treasury yield curve, Federal Agency exposure, Federal Agency mortgage-backed security exposure and Treasury Inflation-Protected Security (TIPS) exposure relative to this index. The portfolio managers then employ proprietary technology to calculate appropriate position sizes for each of these risk factors. In doing so, the portfolio managers consider recommendations from a globally interconnected team of specialist decision makers in positioning the Fund to seek to generate alpha.
The portfolio managers generally rely upon a team of market-specific specialists for trade execution and for assistance in determining efficient ways (in terms of cost-efficiency and selection) to implement those recommendations. Specialist investment professionals employ both top down and bottom-up analysis in determining whether to recommend larger or smaller exposure to specific risk factors. In general, these specialists will look for what they believe are attractive risk-reward opportunities and securities that best enable the Fund to pursue those opportunities. The portfolio managers consider the recommendations of these market-specific specialists in adjusting the Fund’s risk exposures and security selection on a real-time basis using proprietary communication technology. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes.
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 decision 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.
In attempting to meet its investment objective or to manage subscription and redemption requests, the Fund engages in active and frequent trading of portfolio securities.
Read More

VUSIX - Performance

Return Ranking - Trailing

Period VUSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -3.9% 27.5% 7.14%
1 Yr 6.2% -4.4% 33.8% 8.93%
3 Yr -1.6%* -7.3% 12.1% 28.25%
5 Yr -0.1%* -5.6% 2.3% 25.47%
10 Yr 0.2%* -2.2% 2.9% 81.93%

* Annualized

Return Ranking - Calendar

Period VUSIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.4% -1.0% 22.1% 32.14%
2022 -14.9% -20.4% -5.8% 88.34%
2021 -4.7% -7.1% 16.6% 91.28%
2020 1.6% -1.3% 8.8% 78.77%
2019 2.1% 0.3% 7.1% 90.91%

Total Return Ranking - Trailing

Period VUSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -3.9% 27.5% 7.14%
1 Yr 6.2% -4.4% 33.8% 8.93%
3 Yr -1.6%* -7.3% 12.1% 28.25%
5 Yr -0.1%* -5.6% 2.3% 25.47%
10 Yr 0.2%* -2.2% 2.9% 81.93%

* Annualized

Total Return Ranking - Calendar

Period VUSIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -0.5% 28.8% 4.46%
2022 -12.0% -18.5% -3.3% 53.81%
2021 -1.1% -4.5% 25.3% 32.11%
2020 6.0% -1.3% 13.0% 51.89%
2019 4.8% 1.8% 11.3% 89.47%

NAV & Total Return History

VUSIX - Holdings

Concentration Analysis

VUSIX Category Low Category High VUSIX % Rank
Net Assets 582 M 8.69 M 134 B 60.71%
Number of Holdings 689 13 12380 38.39%
Net Assets in Top 10 150 M 5.7 M 55.6 B 62.95%
Weighting of Top 10 26.42% 6.2% 99.3% 77.68%

Top 10 Holdings

  1. Uniform Mortgage-Backed Securities, TBA 3.88%
  2. Uniform Mortgage-Backed Securities, TBA 3.40%
  3. Invesco Government Agency Portfolio, Institutional Class 2.81%
  4. Federal Home Loan Mortgage Corp. 2.73%
  5. Government National Mortgage Association, TBA 2.46%
  6. Uniform Mortgage-Backed Securities, TBA 2.35%
  7. Government National Mortgage Association 2.34%
  8. Government National Mortgage Association, TBA 2.29%
  9. Government National Mortgage Association, TBA 2.09%
  10. Federal Home Loan Mortgage Corp. 2.07%

Asset Allocation

Weighting Return Low Return High VUSIX % Rank
Bonds 		122.77% 0.03% 161.75% 8.93%
Convertible Bonds 		3.29% 0.00% 3.29% 1.79%
Cash 		2.81% -20.28% 28.09% 45.54%
Other 		1.54% -20.46% 42.16% 23.66%
Stocks 		0.00% 0.00% 95.39% 30.80%
Preferred Stocks 		0.00% 0.00% 0.11% 30.36%

Bond Sector Breakdown

Weighting Return Low Return High VUSIX % Rank
Securitized 		80.45% 0.00% 99.79% 28.13%
Government 		5.03% 0.00% 100.00% 70.54%
Cash & Equivalents 		2.81% 0.00% 28.09% 45.54%
Corporate 		2.37% 0.00% 9.48% 4.02%
Municipal 		0.00% 0.00% 5.24% 43.30%
Derivative 		-0.01% -12.53% 3.25% 68.75%

Bond Geographic Breakdown

Weighting Return Low Return High VUSIX % Rank
US 		122.77% 0.03% 161.75% 8.93%
Non US 		0.00% 0.00% 2.20% 30.36%

VUSIX - Expenses

Operational Fees

VUSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.62% 0.03% 2.85% 57.40%
Management Fee 0.42% 0.00% 0.85% 67.86%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

VUSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 4.50% N/A
Deferred Load N/A 1.00% 4.50% N/A

Trading Fees

VUSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

VUSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 401.00% 3.35% 948.00% 93.57%

VUSIX - Distributions

Dividend Yield Analysis

VUSIX Category Low Category High VUSIX % Rank
Dividend Yield 4.43% 0.00% 4.94% 22.32%

Dividend Distribution Analysis

VUSIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

VUSIX Category Low Category High VUSIX % Rank
Net Income Ratio 0.84% -0.80% 2.96% 43.50%

Capital Gain Distribution Analysis

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

Distributions History

View More +

VUSIX - Fund Manager Analysis

Managers

Clint Dudley

Start Date

Tenure

Tenure Rank

Jun 01, 2010

12.01

12.0%

Clint Dudley is a Senior Portfolio Manager for Invesco Fixed Income. Mr. Dudley joined Invesco in 1998 as a systems analyst in the Information Technology department. In 2001 he became a member of Invesco Fixed Income and has held various positions of increasing responsibility, with an emphasis on mortgage-backed securities. Mr. Dudley earned a BBA and an MBA from Baylor University. He is a CFA charterholder and member of the CFA Society of Atlanta.

Brian Norris

Start Date

Tenure

Tenure Rank

Jun 01, 2010

12.01

12.0%

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.

Mario Clemente

Start Date

Tenure

Tenure Rank

Apr 28, 2017

5.09

5.1%

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

Tenure Analysis

Category Low Category High Category Average Category Mode
0.11 31.64 8.43 7.35

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