Aug. 27, 2026
The Fund’s investment objective is to seek 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 $50,000 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) | 5.50 % | 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 | 1.00 % | None | None | None | None |
| | ||||||
| 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 | 0.51 % | 0.51 % | 0.51 % | 0.51 % | 0.51 % | 0.51 % |
| | ||||||
| Distribution and/or Service (12b-1) Fees | 0.24 | 1.00 | 0.50 | None | None | None |
| | ||||||
| Other Expenses | 0.17 | 0.17 | 0.17 | 0.17 | 0.08 | 0.08 |
| | ||||||
| Total Annual Fund Operating Expenses | 0.92 | 1.68 | 1.18 | 0.68 | 0.59 | 0.59 |
| | ||||||
| 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
|
$639 |
$827 |
$1,031 |
$1,619 |
|
|
||||
|
Class C
|
$271 |
$530 |
$913 |
$1,785 |
|
|
||||
|
Class R
|
$120 |
$375 |
$649 |
$1,432 |
|
|
||||
|
Class Y
|
$69 |
$218 |
$379 |
$847 |
|
|
||||
|
Class R5
|
$60 |
$189 |
$329 |
$738 |
|
|
||||
|
Class R6
|
$60 |
$189 |
$329 |
$738 |
|
|
||||
You would pay the following expenses if you did not redeem your shares:
|
|
1 Year
|
3 Years
|
5 Years
|
10 Years
|
|
Class A
|
$639 |
$827 |
$1,031 |
$1,619 |
|
|
||||
|
Class C
|
$171 |
$530 |
$913 |
$1,785 |
|
|
||||
|
Class R
|
$120 |
$375 |
$649 |
$1,432 |
|
|
||||
|
Class Y
|
$69 |
$218 |
$379 |
$847 |
|
|
||||
|
Class R5
|
$60 |
$189 |
$329 |
$738 |
|
|
||||
|
Class R6
|
$60 |
$189 |
$329 |
$738 |
|
|
||||
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 67% 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 common stocks, and in derivatives and other instruments that have economic characteristics similar to such securities. Common stock is a type of security that represents ownership in a company.
The Fund may invest in real estate investment trusts (REITs). The Fund may invest in securities of issuers of any market capitalization, and at times might increase its emphasis on securities of issuers in a particular capitalization range. Under normal market conditions, it is currently expected that the Fund will invest a substantial percentage of its assets in large-capitalization issuers.
The Fund may invest up to 25% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles, and depositary receipts.
The Fund can invest in derivative instruments including forward foreign currency contracts and futures contracts. 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 can use futures contracts, including index futures, to seek exposure to certain asset classes and to seek to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated.
Derivatives and other instruments that provide investment exposure to the investments that are subject to 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 is non-diversified, which means it can invest a greater percentage of its assets in a small group of issuers or any one issuer than a diversified fund can.
In selecting securities for investment, the portfolio managers focus primarily on a security’s potential for capital growth and income. The portfolio managers emphasize a value style of investing through a bottom-up, benchmark-agnostic stock selection process that focuses on identifying, across all sectors, undervalued, well-established companies that have identifiable factors that might lead to improved valuations to create a selectively more focused portfolio.
The portfolio managers will consider selling a security if it meets one or more of the following criteria: (1) the target price of the investment has been realized and the portfolio managers no longer consider the company undervalued, (2) a better value opportunity is identified, or (3) research shows that the company is experiencing deteriorating fundamentals beyond
the portfolio managers’ tolerable level and the trend is likely to be a long-term issue.
The bar chart and performance table provide an indication of the risks of investing in the Fund. The Fund has adopted the performance of the Oppenheimer Value Fund (the predecessor fund) as the result of a reorganization of the predecessor fund into the Fund, which was consummated after the close of business on May 24, 2019 (the “Reorganization”). Prior to the Reorganization, the Fund had not yet commenced operations. The bar chart shows changes in the performance of the predecessor fund and the Fund from year to year as of December 31. The performance table compares the predecessor fund’s and the Fund’s performance to that of a broad measure of market performance and an additional index with characteristics relevant to the Fund. The Fund’s (and the predecessor fund’s) past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
The returns shown for periods ending on or prior to May 24, 2019 are those of the Class A, Class C, Class R, Class Y and Class I shares of the predecessor fund. Class A, Class C, Class R, Class Y and Class I shares of the predecessor fund were reorganized into Class A, Class C, Class R, Class Y and Class R6 shares, respectively, of the Fund after the close of business on May 24, 2019. Class A, Class C, Class R, Class Y and Class R6 shares’ returns of the Fund will be different from the returns of the predecessor fund as they have different expenses. Performance for Class A shares has been restated to reflect the Fund’s applicable sales charge. 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 | June 30, 2026 | 6.85% |
| Best Quarter | December 31, 2020 | 23.85% |
| Worst Quarter | March 31, 2020 | -33.82% |
| | Inception Date | 1 Year | 5 Years | 10 Years |
| Class A | | | | |
| Return Before Taxes | 9/16/1985 | 11.95 % | 13.57 % | 10.74 % |
| Return After Taxes on Distributions | | 8.33 | 10.41 | 8.02 |
| Return After Taxes on Distributions and Sale of Fund Shares | | 8.92 | 10.07 | 7.96 |
| | ||||
| Class C | 5/1/1996 | 16.54 | 14.00 | 10.70 |
| | ||||
| Class R | 3/1/2001 | 18.11 | 14.56 | 11.08 |
| | ||||
| Class Y | 12/16/1996 | 18.75 | 15.14 | 11.64 |
| | ||||
| Class R5 | 5/24/2019 | 18.87 | 15.27 | 11.63 1 |
| | ||||
| Class R6 | 2/28/2012 | 18.86 | 15.27 | 11.79 |
| | ||||
| Russell 1000® Value Index (reflects no deduction for fees, expenses or taxes) | | 15.91 | 11.33 | 10.53 |
| | ||||
| S&P 500® Index (reflects no deduction for fees, expenses or taxes) | | 17.88 | 14.42 | 14.82 |
| | ||||
1
Performance shown on or prior to the inception date is that of the predecessor 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 R5 shares' returns of the Fund will be different from Class A shares' returns of the predecessor fund as they have different expenses.
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.