Jun. 25, 2026
The Fund's investment objective is total return, comprised of current income and capital appreciation.
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 | R5 | R6 |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | 2.50 % | 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 | 0.50 % | 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 | R5 | R6 |
| Management Fees | 0.32 % | 0.32 % | 0.32 % | 0.32 % | 0.32 % | 0.32 % |
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| Distribution and/or Service (12b-1) Fees | 0.15 | 0.65 | 0.50 | None | None | None |
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| Other Expenses | 0.17 | 0.17 | 0.17 | 0.17 | 0.14 | 0.07 |
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| Total Annual Fund Operating Expenses | 0.64 | 1.14 | 0.99 | 0.49 | 0.46 | 0.39 |
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| Fee Waiver and/or Expense Reimbursement2 | None | 0.15 | None | None | None | None |
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| Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | 0.64 | 0.99 | 0.99 | 0.49 | 0.46 | 0.39 |
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| 1 | A contingent deferred sales charge may apply in some cases. See “Shareholder Account Information-Contingent Deferred Sales Charges (CDSCs).” |
| 2 | Invesco Distributors, Inc. (Invesco Distributors) has contractually agreed to waive 0.15% of Rule 12b-1 distribution plan payments of Class C shares. Unless Invesco Distributors continues the fee waiver agreement, it will terminate on June 30, 2027. During its term, the fee waiver agreement cannot be terminated or amended to reduce the 12b-1 fee waiver without approval of the Board of Trustees. |
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 equal to the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement in the first year and the Total Annual Fund Operating Expenses thereafter.
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 | $314 | $450 | $598 | $1,028 |
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| Class C | $201 | $347 | $613 | $1,233 |
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| Class R | $101 | $315 | $547 | $1,213 |
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| Class Y | $50 | $157 | $274 | $616 |
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| Class R5 | $47 | $148 | $258 | $579 |
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| Class R6 | $40 | $125 | $219 | $493 |
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You would pay the following expenses if you did not redeem your shares:
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1 Year
|
3 Years
|
5 Years
|
10 Years
|
|
Class A
|
$314 |
$450 |
$598 |
$1,028 |
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|
Class C
|
$101 |
$347 |
$613 |
$1,233 |
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Class R
|
$101 |
$315 |
$547 |
$1,213 |
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Class Y
|
$50 |
$157 |
$274 |
$616 |
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Class R5
|
$47 |
$148 |
$258 |
$579 |
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|
Class R6
|
$40 |
$125 |
$219 |
$493 |
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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 177% of the average value of its portfolio.
The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in fixed-income securities, and in derivatives and other instruments that have economic characteristics similar to such securities.
For purposes of the Fund’s 80% investment policy, the Fund’s fixed-income securities include corporate bonds, U.S. Treasury and agency securities and mortgage-backed and asset-backed securities. The Fund will attempt to maintain a dollar-weighted average portfolio maturity and duration of less than three years, however due to events affecting the bond markets and interest rate changes the maturity and duration of the portfolio might not meet the target at all times. The Fund invests primarily in investment grade fixed-income securities, including corporate bonds, U.S. Treasury and agency securities and mortgage-backed and asset-backed securities. Investment grade securities are: (i) securities rated BBB- or higher by S&P Global Ratings (S&P) or Baa3 or higher by Moody’s Ratings (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.
The Fund may invest up to 25% of its net assets in foreign debt securities, including debt 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 invest up to 20% of its net assets in currencies and securities, including foreign currency derivatives, denominated in currencies other than the U.S. dollar. The Fund may also invest in securities not considered foreign securities that carry foreign credit exposure. The Fund may invest up to 20% of its net assets in securities considered below investment grade. Below investment grade securities are commonly referred to as junk bonds.
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, which are counted toward the 80% investment policy.
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 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 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. The Fund may engage in short sales of TBA mortgages, including short sales on TBA mortgages the Fund does not own. Generally, the Fund will sell a TBA mortgage short to (1) take advantage of an expected decline in mortgage valuations or (2) seek to hedge against the potential underperformance of the mortgage sector.
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. 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 credit default index swaps to seek to hedge credit risk or take a position on a basket of credit entities; 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 to seek investment return or to mitigate risk and to seek to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated. The Fund can also use 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; 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 (create long or short) exposure to interest rate changes. The Fund can also use currency futures to increase or decrease its exposure to foreign currencies and to seek to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated.
The Fund can engage in foreign currency transactions either on a spot basis or through forward foreign currency contracts to gain or mitigate the risk of foreign currency exposure. Spot contracts allow for prompt delivery and settlement at the rate prevailing in the currency exchange market at the time.
Derivatives and other instruments that provide investment exposure to the investments that are the subject of the 80% investment policy stated above and derivatives that provide investment exposure to one or more market risk factors associated with such investments may be included in the Fund's 80% investment policy.
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.
The portfolio managers utilize the Bloomberg 1-3 Year Government/Credit Index as a reference in structuring the portfolio, but the Fund is not an index fund. The portfolio managers decide on appropriate risk factors such as sector and issuer weightings and duration 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 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 security selection) to implement those recommendations. 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.
Specialists employ a bottom-up approach to recommend larger or smaller exposure to specific risk factors. In general, specialists will look for 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.
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.
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. 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.
| Class C | Period Ended | Returns |
| Year-to-date | March 31, 2026 | -0.06% |
| Best Quarter | June 30, 2020 | 4.92% |
| Worst Quarter | March 31, 2020 | -3.64% |
| | Inception Date | 1 Year | 5 Years | 10 Years |
| Class C | | | | |
| Return Before Taxes | 8/30/2002 | 4.71 % | 1.91 % | 2.19 % |
| Return After Taxes on Distributions | | 2.97 | 0.61 | 1.12 |
| Return After Taxes on Distributions and Sale of Fund Shares | | 2.77 | 0.89 | 1.21 |
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| Class A | 4/30/2004 | 2.91 | 1.75 | 2.22 |
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| Class R | 4/30/2004 | 5.09 | 1.88 | 2.12 |
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| Class Y | 10/3/2008 | 5.61 | 2.41 | 2.64 |
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| Class R5 | 4/30/2004 | 5.64 | 2.43 | 2.68 |
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| Class R6 | 9/24/2012 | 5.71 | 2.49 | 2.73 |
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| Bloomberg 1-3 Year Government/Credit Index (reflects no deduction for fees, expenses or taxes) | | 5.35 | 1.97 | 2.09 |
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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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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 C shares only and after-tax returns for other classes will vary.