Fund Evaluator:

Invesco Balanced-Risk Allocation Y Overview

Invesco Balanced-Risk Allocation Y (ABRYX) is an actively managed Allocation Tactical Allocation fund. Invesco launched the fund in 2009.

The investment seeks to provide total return with a low to moderate correlation to traditional financial market indices. The fund’s investment strategy is designed to provide capital loss protection during down markets by investing across multiple macro factors. Its exposure to these three macro factors will be achieved primarily through investments in derivative instruments (generally having aggregate notional exposure exceeding 65% of the fund’s net assets), including but not limited to futures, options, currency forward contracts and swap agreements.

About Invesco Balanced-Risk Allocation Y (ABRYX)

There are 4 members of the management team with an average tenure of 9.71 years: Chris Devine (2009), Jan Grindrod (2026), John Burrello (2022), Scott Hixon (2009). Management tenure is more important for actively managed funds than passive index funds.

The fund has 3 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100%, Bloomberg US Agg Bond TR USD index with a weighting of 40% and MSCI World NR USD index with a weighting of 60%. Invesco Balanced-Risk Allocation Y has 103 securities in its portfolio. The top 10 holdings constitute 188.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Invesco Balanced-Risk Allocation Y is part of the Allocation global asset class and is within the Allocation fund group. Invesco Balanced-Risk Allocation Y has 100.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 28.7%. There is 35.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 103.3% (38.5% domestic bond, 64.8% foreign bond and 0.0% convertible bond). Invesco Balanced-Risk Allocation Y has -67.3% of the portfolio in cash.

Assets Under Management

The fund has $259 million in total assets, which is above the $222 million average for the Tactical Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

ABRYX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco Balanced-Risk Allocation Y expense ratio is high compared to funds in the Tactical Allocation category. Invesco Balanced-Risk Allocation Y has an expense ratio of 1.16%, which is 34% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco Balanced-Risk Allocation Y has a portfolio turnover rate of 19%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 196% for the Tactical Allocation category.

Recently, in the month of July 2026, Invesco Balanced-Risk Allocation Y returned 0.6%, which earned it a grade of A, as the Tactical Allocation category had an average return of -0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Invesco Balanced-Risk Allocation Y has a trailing yield of 3.01%, which is above the 2.86% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Invesco Balanced-Risk Allocation Y Grades

Year to date, the fund has returned 18.0%, 9.6 percentage points better than the category, which translates into a grade of A. The fund has returned 24.4% over the past year (grade of A), 10.0% over the past three years (grade of C) and 3.9% per year over the past five years (grade of D) and 5.4% per year over the past 10 years (grade of D).

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