Invesco High Yield Municipal Fund (ACTHX)

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Invesco High Yield Municipal Fund (ACTHX) is up 2.9% since the beginning of the year. ACTHX is currently trading at $8 per share. Investors who bought $1,000 worth of ACTHX shares 5 years ago would now be looking at an investment worth $1,031.

Invesco High Yield Municipal Fund (ACTHX) has returned 2.88% so far this year and 8.01% over the past 12 months. Over the last ten years, ACTHX has returned 2.72% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Feb 24, 1986, ACTHX's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, an investment would double in approximately 15.2 years.

Historically, 70% of months were positive and 30% were negative. The best month was Sep 2009 with a return of +9.0%, while the worst month was Mar 2020 at -10.2%. The longest winning streak lasted 18 consecutive months, and the longest losing streak was 4 months.

On a daily basis, ACTHX closed higher 34% of trading days. The best single day was Mar 25, 2020 with a return of +3.6%, while the worst single day was Mar 19, 2020 at -4.3%.

Invesco High Yield Municipal Fund has an annualized alpha of 4.44%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 24, 1986.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (17.53%) than losses (6.13%) - typical of diversified or defensive assets.
• Beta of 0.01 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

ACTHX has a high expense ratio of 1.39%, indicating above-average management fees.

ACTHX ranks 65 for risk / return — better than 65% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

Invesco High Yield Municipal Fund provided a 5.32% dividend yield over the last twelve months, with an annual payout of $0.44 per share. The fund has been increasing its distributions for 2 consecutive years.

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.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Invesco High Yield Municipal Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Invesco High Yield Municipal Fund was 27.29%, occurring on Dec 16, 2008. Recovery took 344 trading sessions.

The chart below shows the rolling one-month volatility.