Invesco High Yield Municipal Fund (ACTHX)
The investment seeks federal tax-exempt current income and taxable capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal securities at the time of investment. It invests at least 75% of its net assets in higher yielding municipal securities, specifically medium- and lower-grade municipal securities. The fund may not, however, invest more than 25% of its net assets in industrial development revenue bonds issued for companies in the same industry.
Fund Info
| ISIN | US0014196887 |
|---|---|
| CUSIP | 001419688 |
| Issuer | Invesco |
| Inception Date | Jan 1, 1986 |
| Category | High Yield Muni |
| Minimum Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
The Invesco High Yield Municipal Fund has a high expense ratio of 1.39%, indicating higher-than-average management fees.
Share Price Chart
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Performance
The chart shows the growth of an initial investment of $10,000 in Invesco High Yield Municipal Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Compare to other instruments
Return
Invesco High Yield Municipal Fund had a return of -1.57% year-to-date (YTD) and 0.42% in the last 12 months. Over the past 10 years, Invesco High Yield Municipal Fund had an annualized return of 3.65%, while the S&P 500 had an annualized return of 9.86%, indicating that Invesco High Yield Municipal Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| 1 month | -1.62% | -1.94% |
| 6 months | -3.61% | 8.61% |
| Year-To-Date | -1.57% | 12.52% |
| 1 year | 0.42% | 16.97% |
| 5 years (annualized) | 0.55% | 8.29% |
| 10 years (annualized) | 3.65% | 9.86% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | -3.20% | 1.82% | 0.07% | -0.51% | 0.42% | 0.18% | -2.04% |
Risk-Adjusted Performance
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Municipal Fund (ACTHX) and S&P 500 (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index | |
|---|---|---|---|---|---|
ACTHX Invesco High Yield Municipal Fund | -0.05 | ||||
^GSPC S&P 500 | 0.81 |
Dividend History
Invesco High Yield Municipal Fund granted a 5.21% dividend yield in the last twelve months. The annual payout for that period amounted to $0.42 per share.
| Period | TTM | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.42 | $0.40 | $0.41 | $0.44 | $0.45 | $0.47 | $0.48 | $0.50 | $0.50 | $0.52 | $0.53 | $0.56 |
Dividend yield | 5.21% | 4.88% | 4.28% | 4.87% | 5.09% | 5.84% | 6.09% | 6.99% | 7.09% | 7.78% | 9.31% | 9.29% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco High Yield Municipal Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | ||||
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 |
| 2021 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2020 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2018 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2017 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2016 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2013 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2012 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 |
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below shows the maximum drawdowns of the Invesco High Yield Municipal Fund. A maximum drawdown is an indicator of risk. It shows a reduction in portfolio value from its maximum due to a series of losing trades.
The maximum drawdown since January 2010 for the Invesco High Yield Municipal Fund is 27.29%, recorded on Dec 16, 2008. It took 344 trading sessions for the portfolio to recover.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -27.29% | May 14, 2007 | 404 | Dec 16, 2008 | 344 | Apr 30, 2010 | 748 |
| -19.37% | Jan 4, 2022 | 204 | Oct 25, 2022 | — | — | — |
| -17.5% | Apr 2, 1986 | 2187 | Nov 18, 1994 | 746 | Oct 31, 1997 | 2933 |
| -16.76% | Mar 2, 2020 | 15 | Mar 20, 2020 | 214 | Jan 26, 2021 | 229 |
| -11.11% | May 3, 2013 | 83 | Aug 29, 2013 | 174 | May 9, 2014 | 257 |
Volatility Chart
The current Invesco High Yield Municipal Fund volatility is 1.71%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.