Fund Evaluator:
Invesco Equity and Income Y (ACETX)
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Best Performing in Moderate Allocation Over the Last Year
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| 11.9% | Invesco Equity and Income Y (ACETX) |
Fund Details
Invesco Equity and Income Y Overview
Invesco Equity and Income Y (ACETX) is an actively managed Allocation Moderate Allocation fund. Invesco launched the fund in 2004.
The investment seeks current income and, secondarily, capital appreciation. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in equity and income securities, and in derivatives and other instruments that have economic characteristics similar to such securities. It invests, under normal circumstances, at least 65% of its net assets in income-producing equity investments. The fund may invest up to 25% of its net assets in securities of foreign issuers.
About Invesco Equity and Income Y (ACETX)
There are 3 members of the management team with an average tenure of 9.39 years: Matthew Titus (2016), Chuck Burge (2010), Will Guthrie (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Invesco Equity and Income Y has 363 securities in its portfolio. The top 10 holdings constitute 21.4% 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 Equity and Income Y is part of the Allocation global asset class and is within the Allocation fund group. Invesco Equity and Income Y has 3.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 62.9%. There is 1.2% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 21.7% (19.5% domestic bond, 2.3% foreign bond and 8.5% convertible bond). Invesco Equity and Income Y has 5.2% of the portfolio in cash.
Assets Under Management
The fund has $753 million in total assets, which is below the $1 billion average for the Moderate 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.
ACETX 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 Equity and Income Y expense ratio is average compared to funds in the Moderate Allocation category. Invesco Equity and Income Y has an expense ratio of 0.51%, which is 48% lower than its category average, making the fund expense ratio grade a A. 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. A portfolio turnover rate cannot be currently calculated for Invesco Equity and Income Y. By way of comparison, the average portfolio turnover is 51% for the Moderate Allocation category.
Recently, in the month of October 2026, Invesco Equity and Income Y returned 2.6%, which earned it a grade of A, as the Moderate Allocation category had an average return of 0.7%. 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 Equity and Income Y has a trailing yield of 1.83%, which is below the 1.90% category average. The fund normally distributes its income quarterly 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 Equity and Income Y Grades
Year to date, the fund has returned 8.5%, 2.1 percentage points better than the category, which translates into a grade of A. The fund has returned 11.9% over the past year (grade of A), 15.1% over the past three years (grade of C) and 7.2% per year over the past five years (grade of B) and 9.0% per year over the past 10 years (grade of B).
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ACETX Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ACETX Return (NAV) | 2.6% | 0.4% | 11.9% | 15.1% | 7.2% | 9.0% |
| ACETX Grade | A | B | A | C | B | B |
| +/- Category | 1.9% | 0.4% | 4.4% | 0.3% | 1.1% | 0.4% |
| Moderate Allocation Avg | 0.7% | -0.0% | 7.6% | 14.7% | 6.2% | 8.7% |
| ACETX Tax Cost Ratio | na | na | 2.0% | 2.1% | 2.4% | 2.1% |
ACETX Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ACETX Return (NAV) | 8.5% | 13.0% | 12.1% | 10.4% | -7.6% | 18.4% | 10.2% | 20.4% | -9.4% | 11.2% | 15.1% |
| ACETX Grade | A | C | C | F | A | A | D | C | F | F | A |
| +/- Category | 2.1% | -0.4% | -0.3% | -4.1% | 6.6% | 4.1% | -3.0% | 0.4% | -4.4% | -2.8% | 7.5% |
| Moderate Allocation Avg | 6.4% | 13.4% | 12.3% | 14.5% | -14.2% | 14.3% | 13.2% | 19.9% | -5.0% | 14.0% | 7.6% |
| Risk Measures | |
| Standard Deviation: | 9.3% |
| Total Risk Index: | 0.77 - Average |
| Category Risk Index: | 1.05 - High |
| Category Risk Grade: | F (86% Rank) |
| Beta: | 0.89 |
| R-Squared: | 71% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 1.8% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $12854 Mil |
| Fund Total Assets: | $ 753 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 16.7 years | |||
| Average Tenure: 9.4 years | |||
| Managers (Year): Burge Chuck (2010), Titus Matthew (2016), Guthrie Will (2026) | |||
Portfolio Composition (as of 9/30/26)
| # of Holdings: | 363 |
| % in Top 10 Holdings: | 21.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.5% |
Portfolio Allocation |
|
| Domestic Stock: | 62.9% |
| Foreign Stock: | 1.2% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 19.5% |
| Foreign Bond: | 2.3% |
| Convertible Bond: | 8.5% |
| Other: | 0.0% |
| Cash: | 5.2% |
Purchase Information
| Fund Family: | Invesco |
| Phone Number: | 800-959-4246 |
| Website: | www.invesco.com |
| Status: | Open |
| Inception Date: | December 22, 2004 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.51% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | Invesco Equity and Income A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 25 |
