Fund Evaluator:
Invesco Floating Rate ESG R (AFRRX)
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Best Performing in Bank Loan Over the Last Year
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Fund Details
Invesco Floating Rate ESG R Overview
Invesco Floating Rate ESG R (AFRRX) is an actively managed Taxable Bond Bank Loan fund. Invesco launched the fund in 2006.
The investment seeks total return, comprised of current income and capital appreciation. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in senior secured floating rate loans made by banks and other lending institutions, senior secured floating rate debt instruments, and derivatives and other instruments that have economic characteristics similar to such securities. It may invest up to 100% of its net assets in floating rate loans and floating rate debt securities that are determined to be below investment grade.
About Invesco Floating Rate ESG R (AFRRX)
There are 3 members of the management team with an average tenure of 15.23 years: Scott Baskind (2013), Philip Yarrow (2013), Thomas Ewald (2006). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and S&P UBS Leveraged Loan USD index with a weighting of 100%. Invesco Floating Rate ESG R has 473 securities in its portfolio. The top 10 holdings constitute 9.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Invesco Floating Rate ESG R is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Invesco Floating Rate ESG R has 39.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 3.3%. There is 0.0% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 93.0% (53.7% domestic bond, 39.3% foreign bond and 0.0% convertible bond). Invesco Floating Rate ESG R has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $10 million in total assets, which is below the $344 million average for the Bank Loan 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.
AFRRX 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 Floating Rate ESG R expense ratio is high compared to funds in the Bank Loan category. Invesco Floating Rate ESG R has an expense ratio of 1.39%, which is 32% higher than its category average, making the fund expense ratio grade a D. 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 Floating Rate ESG R. By way of comparison, the average portfolio turnover is 62% for the Bank Loan category.
Recently, in the month of July 2026, Invesco Floating Rate ESG R returned 0.4%, which earned it a grade of F, as the Bank Loan category had an average return of 0.6%. 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 Floating Rate ESG R has a trailing yield of 7.25%, which is above the 6.73% category average. The fund normally distributes its income monthly 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 Floating Rate ESG R Grades
Year to date, the fund has returned 1.1%, 0.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.2% over the past year (grade of F), 5.6% over the past three years (grade of F) and 4.5% per year over the past five years (grade of F) and 4.2% per year over the past 10 years (grade of D).
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AFRRX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AFRRX Return (NAV) | 0.4% | 0.6% | 2.2% | 5.6% | 4.5% | 4.2% |
| AFRRX Grade | F | F | F | F | F | D |
| +/- Category | -0.2% | -0.6% | -1.6% | -1.0% | -0.7% | -0.2% |
| Bank Loan Avg | 0.6% | 1.2% | 3.8% | 6.6% | 5.2% | 4.4% |
| AFRRX Tax Cost Ratio | na | na | 2.8% | 3.2% | 2.9% | 2.3% |
AFRRX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AFRRX Return (NAV) | 1.1% | 4.3% | 7.3% | 11.4% | -2.7% | 5.8% | 1.3% | 7.1% | -0.4% | 3.7% | 10.8% |
| AFRRX Grade | F | D | F | D | D | A | D | D | C | C | B |
| +/- Category | -0.8% | -0.8% | -0.9% | -0.7% | -0.4% | 1.1% | 0.0% | -0.5% | -0.1% | 0.0% | 1.6% |
| Bank Loan Avg | 1.9% | 5.1% | 8.2% | 12.1% | -2.3% | 4.7% | 1.3% | 7.6% | -0.4% | 3.7% | 9.2% |
| Risk Measures | |
| Standard Deviation: | 1.9% |
| Total Risk Index: | 0.16 - Low |
| Category Risk Index: | 0.97 - Average |
| Category Risk Grade: | C (49% Rank) |
| Beta: | 0.03 |
| R-Squared: | 1% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 7.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1816 Mil |
| Fund Total Assets: | $ 11 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 20.4 years | |||
| Average Tenure: 15.2 years | |||
| Managers (Year): Ewald Thomas (2006), Baskind Scott (2013), Yarrow Philip (2013) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 473 |
| % in Top 10 Holdings: | 9.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 39.3% |
Portfolio Allocation |
|
| Domestic Stock: | 3.3% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 53.7% |
| Foreign Bond: | 39.3% |
| Convertible Bond: | 0.0% |
| Other: | 1.3% |
| Cash: | 2.0% |
Purchase Information
| Fund Family: | Invesco |
| Phone Number: | 800-959-4246 |
| Website: | www.invesco.com |
| Status: | Open |
| Inception Date: | April 13, 2006 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 1.39% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | Invesco Floating Rate ESG A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 25 |
