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Address And Details

P. O. Box 219078 , Kansas City, MO 64121
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

The Fund s investment objective is income and long-term growth of capital. 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 U.S. and foreign equity securities, including common stock, preferred stock, depositary receipts, real estate investment trust (REITs), and equity-linked notes (ELNs). 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, 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 s investment in ELNs can represent up to 50% of the Fund s net assets, but is expected to be in the range of 15% to 50%. The Fund s investment in ELNs will be adjusted periodically to achieve the Fund s desired yield. 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 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, 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.

Net Asset Value

as of 5:17 PM ET 05/19/2022

Performance

  • 1 Week
  • +2.09%
  • 1 Month
  • -6.60%
  • 3 Months
  • -10.54%
  • 1 Yr Return
  • -12.15%
  • 5 Yr Return
  • -5.21%

Equity Sector Breakdown

IndustrialCyclical 11.19%
Technology 7.29%
NonDurables 4.44%
Finance 3.90%
RetailTrade 3.88%
ConsumerDurables 2.88%
Services 2.74%
Energy 2.48%
Utilities 2.09%
Health 1.76%

Asset Allocation

Asset Type % Of Allocation
Stocks 52.22%
ForeignStocks 49.14%
Bonds 29.94%
Other 1.96%
Preferred 1.10%
Cash 0.00%
Convertible 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 3.79 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -7.31 -6.74 -5.14
Beta 0.72 0.70 0.77
R Squared 0.81 0.79 0.73
Std Deviation 15.07 12.93 12.22
Sharpe Ratio 0.18 0.17 n/a

Purchase Information

as of 5:19 PM ET 05/18/2022
Minimum Initial $1000
Minimum Additional $50
Minimum Initial IRA $250

Performance

Timeframe Average Annual Current Performance Monthly As Of 04/30/2022 Average Annual Current Performance Quarterly As Of 03/31/2022 Avg Annual Current Performance Monthly As Of 04/30/2022 Avg Annual Current Performance Quarterly As Of 03/31/2022
1 Year
  • -4.18%
  • +1.92%
-4.18% +1.92%
3 Year
  • +2.12%
  • +4.40%
+2.12% +4.40%
10 Year
  • +4.79%
  • +5.12%
+4.79% +5.12%
Life Of Fund
  • +5.09%
  • +5.47%
+5.09% +5.47%

Top 10 Holdings

Symbol Company Name % Of Assets
CPBD TOTAL*CORPORATE BONDS 22.96%
CASH TOTAL*MONEY MARKET 22.22%
TSM TAIWAN SEMICONDUCTOR MANUFACT 1.65%
OTHER TOTAL*OTHER 1.50%
ASML ASML HOLDING NV 1.22%
ROG ROCHE HOLDING AG 1.19%
NSRGY NESTLE SA SPONS ADR FOR REG 1.18%
NVO NOVO NORDISK A/S SPONS ADR 1.01%
RDS.A ROYAL DUTCH SHELL PLC A 0.88%
SNY SANOFI ADR 0.81%

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