Fund Evaluator:
Invesco Global Opportunities R5 (GOFFX)
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Best Performing in Global Small/Mid Stock Over the Last Year
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Fund Details
Invesco Global Opportunities R5 Overview
Invesco Global Opportunities R5 (GOFFX) is an actively managed International Equity Global Small/Mid Stock fund. Invesco launched the fund in 2019.
The investment seeks capital appreciation. The fund invests mainly in equity securities of issuers in the U.S. and foreign countries. In addition to common stocks, the fund can invest in other equity or “equity equivalents” securities such as preferred stocks, convertible securities, rights or warrants. The fund typically invests in a number of different countries and can invest in any country, including countries with developing or emerging markets. The fund normally will invest in at least four countries, including the United States.
About Invesco Global Opportunities R5 (GOFFX)
There are 4 members of the management team with an average tenure of 1.57 years: Justin Livengood (2025), David Nadel (2023), Andrey Belov (2026), Ronald Zibelli (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MSCI ACWI SMID NR USD index with a weighting of 100%. Invesco Global Opportunities R5 has 173 securities in its portfolio. The top 10 holdings constitute 15.6% 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 Global Opportunities R5 is part of the Equity global asset class and is within the International Equity fund group. Invesco Global Opportunities R5 has 41.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 56.3%. There is 41.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco Global Opportunities R5 has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $47 million in total assets, which is below the $892 million average for the Global Small/Mid Stock 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.
GOFFX 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 Global Opportunities R5 expense ratio is high compared to funds in the Global Small/Mid Stock category. Invesco Global Opportunities R5 has an expense ratio of 0.80%, which is 36% 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. Invesco Global Opportunities R5 has a portfolio turnover rate of 136%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 57% for the Global Small/Mid Stock category.
Recently, in the month of July 2026, Invesco Global Opportunities R5 returned -2.4%, which earned it a grade of C, as the Global Small/Mid Stock category had an average return of -2.0%. 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 Global Opportunities R5 has a trailing yield of 0.42%, which is below the 1.34% category average. The fund normally distributes its income 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 Global Opportunities R5 Grades
Year to date, the fund has returned 12.1%, 1.2 percentage points better than the category, which translates into a grade of B. The fund has returned 14.5% over the past year (grade of D), 2.7% over the past three years (grade of F) and -6.1% per year over the past five years (grade of F) and 5.9% per year over the past 10 years (grade of F).
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GOFFX 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 |
|
| GOFFX Return (NAV) | -2.4% | 2.0% | 14.5% | 2.7% | -6.1% | 5.9% |
| GOFFX Grade | C | C | D | F | F | F |
| +/- Category | -0.4% | 0.4% | -2.3% | -6.7% | -9.0% | -2.3% |
| Global Small/Mid Stock Avg | -2.0% | 1.7% | 16.8% | 9.4% | 2.9% | 8.3% |
| GOFFX Tax Cost Ratio | na | na | 0.1% | 0.1% | 0.3% | na |
GOFFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GOFFX Return (NAV) | 12.1% | 7.5% | -7.2% | 17.7% | -41.4% | 0.5% | 40.1% | 28.1% | -18.1% | 52.5% | 10.7% |
| GOFFX Grade | B | D | F | C | F | F | B | C | F | A | A |
| +/- Category | 1.2% | -6.7% | -10.1% | 1.3% | -19.1% | -15.6% | 12.7% | 0.5% | -4.1% | 26.5% | 2.8% |
| Global Small/Mid Stock Avg | 10.9% | 14.2% | 2.9% | 16.5% | -22.3% | 16.1% | 27.5% | 27.6% | -14.0% | 26.0% | 7.9% |
| Risk Measures | |
| Standard Deviation: | 19.7% |
| Total Risk Index: | 1.61 - High |
| Category Risk Index: | 1.16 - High |
| Category Risk Grade: | F (92% Rank) |
| Beta: | 1.36 |
| R-Squared: | 77% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $2226 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 136% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 3.0 years | |||
| Average Tenure: 1.6 years | |||
| Managers (Year): Nadel David (2023), Livengood Justin (2025), Zibelli Ronald (2025), Belov Andrey (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 173 |
| % in Top 10 Holdings: | 15.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 41.6% |
Portfolio Allocation |
|
| Domestic Stock: | 56.3% |
| Foreign Stock: | 41.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.0% |
Purchase Information
| Fund Family: | Invesco |
| Phone Number: | 800-959-4246 |
| Website: | www.invesco.com |
| Status: | Closed |
| Inception Date: | May 24, 2019 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| 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 (%): | 0.80% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.26% |
| Share Class: | Invesco Global Opportunities A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
