Jun. 25, 2026
The Fund’s investment objective is current income, and
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund.
The table and Examples below do not reflect any transaction fees that may be charged by financial intermediaries or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class Y or Class R6 shares. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in the Invesco Funds. More information about these and other discounts is available from your financial professional and in the section “Shareholder Account Information – Initial Sales Charges (Class A Shares Only)” on page A-3 of the prospectus and the section “Purchase, Redemption and Pricing of Shares-Purchase and Redemption of Shares” on page L-1 of the statement of additional information (SAI).
| Shareholder Fees (fees paid directly from your investment) | |||||||
| Class: | A | C | R | Y | Investor | R5 | R6 |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | 4.25 % | None | None | None | None | None | None |
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| Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less) | None1 | 1.00 % | None | None | None | None | None |
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| Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||
| Class: | A | C | R | Y | Investor | R5 | R6 |
| Management Fees | 0.47 % | 0.47 % | 0.47 % | 0.47 % | 0.47 % | 0.47 % | 0.47 % |
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| Distribution and/or Service (12b-1) Fees | 0.25 | 1.00 | 0.50 | None | 0.18 | None | None |
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| Other Expenses | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.23 | 0.15 |
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| Total Annual Fund Operating Expenses | 1.01 | 1.76 | 1.26 | 0.76 | 0.94 | 0.70 | 0.62 |
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| 1 | A contingent deferred sales charge may apply in some cases. See “Shareholder Account Information-Contingent Deferred Sales Charges (CDSCs).” |
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. This Example does not include commissions and/or other forms of compensation that investors may pay on transactions in Class Y and Class R6 shares. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
| | 1 Year | 3 Years | 5 Years | 10 Years |
| Class A | $524 | $733 | $959 | $1,609 |
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| Class C | $279 | $554 | $954 | $1,875 |
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| Class R | $128 | $400 | $692 | $1,523 |
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| Class Y | $78 | $243 | $422 | $942 |
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| Investor Class | $96 | $300 | $520 | $1,155 |
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| Class R5 | $72 | $224 | $390 | $871 |
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| Class R6 | $63 | $199 | $346 | $774 |
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You would pay the following expenses if you did not redeem your shares:
|
|
1 Year
|
3 Years
|
5 Years
|
10 Years
|
|
Class A
|
$524 |
$733 |
$959 |
$1,609 |
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||||
|
Class C
|
$179 |
$554 |
$954 |
$1,875 |
|
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||||
|
Class R
|
$128 |
$400 |
$692 |
$1,523 |
|
|
||||
|
Class Y
|
$78 |
$243 |
$422 |
$942 |
|
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||||
|
Investor Class
|
$96 |
$300 |
$520 |
$1,155 |
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|
Class R5
|
$72 |
$224 |
$390 |
$871 |
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|
Class R6
|
$63 |
$199 |
$346 |
$774 |
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The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 219% of the average value of its portfolio.
The Fund invests primarily in fixed-income securities and in derivatives and other instruments that have economic characteristics similar to such securities. A significant portion of these securities consists of privately-issued mortgage-backed and asset-backed securities such as commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS), and collateralized loan obligations (CLOs) of any rating. The mortgage-backed securities in which the Fund invests could also include mortgage pass-through certificates representing participation interests in pools of mortgage loans originated by the U.S. Government or private lenders as well as those 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 will concentrate (i.e. invest more than 25% of its total assets) in securities related to the real estate finance industry, including, without limitation, CMBS, RMBS, real estate investment trusts (REITs), other real estate-related securities, loans and other instruments that are secured by, or otherwise have exposure to, real estate. The Fund may, at times, invest substantially more than 25% of its total assets in securities related to the real estate finance industry.
The Fund invests in below-investment grade securities. Below-investment grade securities are commonly referred to as junk bonds. A significant portion of the Fund’s investments consists of below-investment grade 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 will 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. The Fund also expects to engage in short sales of TBA mortgages, including short sales on TBA mortgages the Fund does not own. The Fund’s use of TBA transactions results in a form of leverage, which could increase the volatility of the Fund’s share price.
The Fund may invest in foreign securities, including securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles, in non-U.S. dollar denominated securities and in depositary receipts.
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 seek to hedge or adjust its exposure to interest rates and to manage duration. The Fund can further use credit default swaps or total return swaps to manage credit exposure and to manage duration.
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 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 contracts and bond futures contracts, to increase or reduce exposure to changes in interest rates and to manage duration.
The Fund can use forward foreign currency contracts to seek to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated.
The Fund may invest in illiquid or thinly traded investments. 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, as amended.
The Fund may invest in convertible securities, municipal securities and common and preferred stock of REITs.
The portfolio managers seek risk-adjusted returns across the fixed income spectrum in an effort to provide a high, stable monthly income while providing the opportunity for long term price appreciation. The portfolio managers use a “top down” analysis of macroeconomic trends combined with a “bottom up” fundamental analysis of market sub-sectors and individual issuers to seek to continuously create investable information advantages throughout a market cycle. The portfolio managers will invest opportunistically across a wide range of credit and issuer types to seek to provide relative value across fixed income.
In attempting to meet its investment objective or to manage subscription and redemption requests, the Fund may engage in active and frequent trading of portfolio securities.
The bar chart and performance table provide an indication of the risks of investing in the Fund. The bar chart shows changes in the performance of the Fund from year to year as of December 31. For periods prior to July 26, 2018, performance shown is that of the Fund using its previous U.S. Government securities focused strategy. The performance table compares the Fund’s performance to that of a broad measure of market performance and one or more additional indices with characteristics relevant to the Fund. The Fund's past performance (before and after taxes) is not necessarily an indication of its future performance.
Fund performance reflects any applicable fee waivers and expense reimbursements. Performance returns would be lower without applicable fee waivers and expense reimbursements.
All Fund performance shown assumes the reinvestment of dividends and capital gains and the effect of the Fund’s expenses.
Updated performance information is available on the Fund's website at www.invesco.com/us.
The bar chart does not reflect sales loads. If it did, the annual total returns shown would be lower.
| Class A | Period Ended | Returns |
| Year-to-date | March 31, 2026 | 0.23% |
| Best Quarter | June 30, 2020 | 13.63% |
| Worst Quarter | March 31, 2020 | -24.89% |
| | Inception Date | 1 Year | 5 Years | 10 Years |
| Class A | | | | |
| Return Before Taxes | 4/28/1987 | 2.05 % | 1.58 % | 1.08 % |
| Return After Taxes on Distributions | | -0.05 | -0.26 | -0.48 |
| Return After Taxes on Distributions and Sale of Fund Shares | | 1.18 | 0.39 | 0.13 |
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| Class C | 8/4/1997 | 4.95 | 1.71 | 0.93 |
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| Class R | 6/3/2002 | 6.47 | 2.23 | 1.26 |
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| Class Y | 10/3/2008 | 6.85 | 2.71 | 1.77 |
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| Investor Class | 9/30/2003 | 6.67 | 2.56 | 1.58 |
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| Class R5 | 4/29/2005 | 6.93 | 2.82 | 1.86 |
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| Class R6 | 4/4/2017 | 7.18 | 2.93 | 1.87 1 |
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| Bloomberg U.S. Securitized: MBS/ABS/CMBS Index (USD) (reflects no deduction for fees, expenses or taxes)2 | | 8.49 | 0.22 | 1.68 |
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| Bloomberg U.S. Aggregate Intermediate Index (reflects no deduction for fees, expenses or taxes)2 | | 7.45 | 0.68 | 2.06 |
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| Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) | | 7.30 | -0.36 | 2.01 |
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1
Performance shown prior to the inception date is that of the Fund's Class A shares at net asset value and includes the 12b-1 fees applicable to that class. Although invested in the same portfolio of securities, Class R6 shares' returns of the Fund will be different from Class A shares' returns of the Fund as they have different expenses.
2
Effective February 6, 2026, the Fund changed its style-specific benchmark from the Bloomberg U.S. Aggregate Intermediate Index to the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index. The Fund believes the Bloomberg U.S. Securitized: MBS/ABS/CMBS Index is a more appropriate comparison for evaluating the Fund's performance.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements, such as 401(k) plans, 529 college savings plans or individual retirement accounts. After-tax returns are shown for Class A shares only and after-tax returns for other classes will vary.