Fund Evaluator:
Invesco Developing Markets Y (ODVYX)
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Best Performing in Diversified Emerging Mkts Over the Last Year
| 55.1% | Invesco Emerging Markets ex-China Y (GTDYX) |
| 51.1% | WCM Focused Emerging Mkts Ex Chn Inv (WCFEX) |
| 47.2% | Matthews Emerging Markets Sust Fut Inv (MASGX) |
| 46.5% | Lazard Emerging Markets Equity Instl (LZEMX) |
| 46.5% | LSV Emerging Markets Equity Inv (LVAZX) |
Fund Details
Invesco Developing Markets Y Overview
Invesco Developing Markets Y (ODVYX) is an actively managed International Equity Diversified Emerging Mkts fund. Invesco launched the fund in 2005.
The investment seeks capital appreciation. The fund mainly invests in common stocks of issuers in developing and emerging markets throughout the world and at times it may invest up to 100% of its total assets in foreign securities. Under normal market conditions, the fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of issuers whose principal activities are in a developing market, i.e. are in a developing market or are economically tied to a developing market country, and in derivatives and other instruments that have economic characteristics similar to such securities.
About Invesco Developing Markets Y (ODVYX)
There are 4 members of the management team with an average tenure of 1.10 years: Ian Hargreaves (2025), William Lam (2025), Charles Bond (2025), Matthew Pigott (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM NR USD index with a weighting of 100%. Invesco Developing Markets Y has 89 securities in its portfolio. The top 10 holdings constitute 47.7% 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 Developing Markets Y is part of the Equity global asset class and is within the International Equity fund group. Invesco Developing Markets Y has 98.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.1%. There is 98.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.1% (0.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco Developing Markets Y has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above the $967 million 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.
ODVYX 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 Developing Markets Y expense ratio is high compared to funds in the Diversified Emerging Mkts category. Invesco Developing Markets Y has an expense ratio of 1.05%, which is 9% 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 Developing Markets Y has a portfolio turnover rate of 79%, 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 July 2026, Invesco Developing Markets Y returned 1.0%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of -4.9%. 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 Developing Markets Y has a trailing yield of 0.55%, which is below the 1.72% 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 Developing Markets Y Grades
Year to date, the fund has returned 17.6%, 1.5 percentage points worse than the category, which translates into a grade of D. The fund has returned 36.3% over the past year (grade of C), 12.6% over the past three years (grade of F) and 3.5% per year over the past five years (grade of F) and 7.2% per year over the past 10 years (grade of F).
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ODVYX 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 |
|
| ODVYX Return (NAV) | 1.0% | 6.3% | 36.3% | 12.6% | 3.5% | 7.2% |
| ODVYX Grade | A | A | C | F | F | F |
| +/- Category | 5.9% | 3.9% | 0.4% | -5.3% | -3.0% | -1.5% |
| Diversified Emerging Mkts Avg | -4.9% | 2.4% | 35.9% | 17.9% | 6.5% | 8.7% |
| ODVYX Tax Cost Ratio | na | na | 7.2% | 2.6% | 1.9% | 1.1% |
ODVYX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ODVYX Return (NAV) | 17.6% | 28.6% | -1.1% | 11.4% | -25.0% | -7.3% | 17.5% | 24.3% | -11.9% | 35.1% | 7.2% |
| ODVYX Grade | D | D | F | C | D | F | C | B | A | D | C |
| +/- Category | -1.5% | -2.8% | -7.3% | -0.7% | -2.3% | -7.0% | -4.1% | 2.5% | 4.5% | -1.5% | -1.4% |
| Diversified Emerging Mkts Avg | 19.1% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.6% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 13.7% |
| Total Risk Index: | 1.12 - Above Average |
| Category Risk Index: | 0.82 - Low |
| Category Risk Grade: | A (10% Rank) |
| Beta: | 0.89 |
| R-Squared: | 79% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $8812 Mil |
| Fund Total Assets: | $3,653 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 79% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 1.1 years | |||
| Average Tenure: 1.1 years | |||
| Managers (Year): Hargreaves Ian (2025), Lam William (2025), Bond Charles (2025), Pigott Matthew (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 89 |
| % in Top 10 Holdings: | 47.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 98.0% |
Portfolio Allocation |
|
| Domestic Stock: | 1.1% |
| Foreign Stock: | 98.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.9% |
Purchase Information
| Fund Family: | Invesco |
| Phone Number: | 800-959-4246 |
| Website: | www.invesco.com |
| Status: | Open |
| Inception Date: | September 7, 2005 |
| 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 (%): | 1.05% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.16% |
| Share Class: | Invesco Developing Markets A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 25 |
