Fund Evaluator:

Invesco Emerging Markets ex-China Y Overview

Invesco Emerging Markets ex-China Y (GTDYX) is an actively managed International Equity Diversified Emerging Mkts fund. Invesco launched the fund in 2008.

The investment seeks long-term growth of capital. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of issuers in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles, excluding China, and in derivatives and other instruments that have economic characteristics similar to such securities. The fund invests primarily in equity securities, including common and preferred stock, and depositary receipts.

About Invesco Emerging Markets ex-China Y (GTDYX)

There are 3 members of the management team with an average tenure of 1.02 years: Charles Bond (2025), Matthew Pigott (2025), James McDermottroe (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI EM NR USD index with a weighting of 100% and MSCI EM ex China NR USD index with a weighting of 100%. Invesco Emerging Markets ex-China Y has 58 securities in its portfolio. The top 10 holdings constitute 51.9% 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 Emerging Markets ex-China Y is part of the Equity global asset class and is within the International Equity fund group. Invesco Emerging Markets ex-China Y has 97.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.8%. There is 97.1% 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 Emerging Markets ex-China Y has 1.1% of the portfolio in cash.

Assets Under Management

The fund has $441 million in total assets, which is below the $1 billion average for the Diversified Emerging Mkts 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.

GTDYX 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 Emerging Markets ex-China Y expense ratio is high compared to funds in the Diversified Emerging Mkts category. Invesco Emerging Markets ex-China Y has an expense ratio of 1.15%, which is 1% lower than its category average, making the fund expense ratio grade a C. 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 Emerging Markets ex-China Y has a portfolio turnover rate of 96%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.

Recently, in the month of June 2026, Invesco Emerging Markets ex-China Y returned 2.4%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of 0.2%. 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 Emerging Markets ex-China Y has a trailing yield of 2.80%, which is above the 1.58% 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 Emerging Markets ex-China Y Grades

Year to date, the fund has returned 45.7%, 20.0 percentage points better than the category, which translates into a grade of A. The fund has returned 69.4% over the past year (grade of A), 23.2% over the past three years (grade of C) and 8.8% per year over the past five years (grade of B) and 10.0% per year over the past 10 years (grade of C).

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