Invesco SteelPath MLP Alpha Fund Class A (MLPAX)

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Invesco SteelPath MLP Alpha Fund Class A (MLPAX) is up 15.6% since the beginning of the year. MLPAX is currently trading at $9 per share. Investors who bought $1,000 worth of MLPAX shares 5 years ago would now be looking at an investment worth $2,597.

Invesco SteelPath MLP Alpha Fund Class A (MLPAX) has returned 15.55% so far this year and 16.65% over the past 12 months. Over the last ten years, MLPAX has returned 8.53% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Apr 5, 2010, MLPAX's average daily return is +0.04%, while the average monthly return is +0.82%. At this rate, an investment would double in approximately 7.1 years.

Historically, 58% of months were positive and 42% were negative. The best month was Apr 2020 with a return of +44.5%, while the worst month was Mar 2020 at -47.6%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.

On a daily basis, MLPAX closed higher 51% of trading days. The best single day was Mar 19, 2020 with a return of +19.0%, while the worst single day was Mar 9, 2020 at -27.3%.

Invesco SteelPath MLP Alpha Fund Class A has an annualized alpha of 0.63%, beta of 0.70, and R2 of 0.26 versus S&P 500 Index. Calculated based on daily prices since April 05, 2010.

• This fund participated in 91.49% of S&P 500 Index downside but only 72.76% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.70 may look defensive, but with R2 of 0.26 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 0.26 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.

MLPAX has a high expense ratio of 1.54%, indicating above-average management fees.

MLPAX ranks 37 for risk / return — below 37% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

Invesco SteelPath MLP Alpha Fund Class A provided a 5.34% dividend yield over the last twelve months, with an annual payout of $0.50 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Invesco SteelPath MLP Alpha Fund Class A. 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 SteelPath MLP Alpha Fund Class A. 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 SteelPath MLP Alpha Fund Class A was 77.51%, occurring on Mar 18, 2020. Recovery took 933 trading sessions.

The current Invesco SteelPath MLP Alpha Fund Class A drawdown is 5.82%.

The chart below shows the rolling one-month volatility.