Fund Evaluator:
Invesco Global Allocation R (QGRNX)
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Best Performing in Global Moderate Allocation Over the Last Year
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Fund Details
Invesco Global Allocation R Overview
Invesco Global Allocation R (QGRNX) is an actively managed Allocation Global Moderate Allocation fund. Invesco launched the fund in 2001.
The investment seeks total return. The fund allocates its assets among equity securities, fixed-income securities, and various other types of investments, including ETFs, from all over the world. Generally, there are no geographic restrictions on where the fund may invest and no restrictions on the amount of the fund's assets that can be invested in either U.S. or foreign securities, including securities of issuers in developing and emerging markets. The fund may invest in debt securities of any kind and of varying duration and maturities. It may invest in below-investment-grade debt securities, including distressed securities.
About Invesco Global Allocation R (QGRNX)
There are 2 members of the management team with an average tenure of 1.86 years: Jeffrey Bennett (2023), Debbie Li (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 3 primary benchmarks: Bloomberg Global Aggregate TR Hdg USD index with a weighting of 100%, Bloomberg Global Aggregate TR Hdg USD index with a weighting of 40% and MSCI ACWI NR USD index with a weighting of 60%. Invesco Global Allocation R has 78 securities in its portfolio. The top 10 holdings constitute 107.1% 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 Allocation R is part of the Allocation global asset class and is within the Allocation fund group. Invesco Global Allocation R has 17.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 50.0%. There is 12.5% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 41.7% (36.5% domestic bond, 5.2% foreign bond and 0.0% convertible bond). Invesco Global Allocation R has -5.1% of the portfolio in cash.
Assets Under Management
The fund has $35 million in total assets, which is below the $947 million average for the Global 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.
QGRNX 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 Allocation R expense ratio is high compared to funds in the Global Moderate Allocation category. Invesco Global Allocation R has an expense ratio of 1.50%, which is 44% higher than its category average, making the fund expense ratio grade a F. 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 Allocation R has a portfolio turnover rate of 49%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 64% for the Global Moderate Allocation category.
Recently, in the month of July 2026, Invesco Global Allocation R returned -0.3%, which earned it a grade of C, as the Global Moderate Allocation category had an average return of 0.3%. 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 Allocation R has a trailing yield of 0.55%, which is below the 2.61% 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 Global Allocation R Grades
Year to date, the fund has returned 8.0%, 0.1 percentage points worse than the category, which translates into a grade of B. The fund has returned 14.4% over the past year (grade of D), 9.6% over the past three years (grade of F) and 4.5% per year over the past five years (grade of F) and 6.2% per year over the past 10 years (grade of F).
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QGRNX 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 |
|
| QGRNX Return (NAV) | -0.3% | 1.8% | 14.4% | 9.6% | 4.5% | 6.2% |
| QGRNX Grade | C | D | D | F | F | F |
| +/- Category | -0.6% | -0.3% | -1.6% | -2.3% | -1.7% | -1.1% |
| Global Moderate Allocation Avg | 0.3% | 2.1% | 16.0% | 11.9% | 6.2% | 7.3% |
| QGRNX Tax Cost Ratio | na | na | 1.6% | 0.9% | 1.7% | 1.2% |
QGRNX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| QGRNX Return (NAV) | 8.0% | 13.4% | 5.3% | 15.4% | -17.8% | 10.0% | 14.2% | 16.1% | -9.9% | 14.5% | 4.5% |
| QGRNX Grade | B | F | F | A | F | D | B | D | F | C | F |
| +/- Category | -0.1% | -2.8% | -3.2% | 3.2% | -4.4% | -1.6% | 4.4% | -1.6% | -2.8% | 0.5% | -2.1% |
| Global Moderate Allocation Avg | 8.1% | 16.1% | 8.4% | 12.2% | -13.4% | 11.6% | 9.8% | 17.7% | -7.1% | 14.0% | 6.6% |
| Risk Measures | |
| Standard Deviation: | 9.1% |
| Total Risk Index: | 0.75 - Below Average |
| Category Risk Index: | 1.00 - Average |
| Category Risk Grade: | C (57% Rank) |
| Beta: | 0.95 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1031 Mil |
| Fund Total Assets: | $ 35 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 49% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 3.4 years | |||
| Average Tenure: 1.9 years | |||
| Managers (Year): Bennett Jeffrey (2023), Li Debbie (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 78 |
| % in Top 10 Holdings: | 107.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 17.6% |
Portfolio Allocation |
|
| Domestic Stock: | 50.0% |
| Foreign Stock: | 12.5% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 36.5% |
| Foreign Bond: | 5.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.8% |
| Cash: | -5.1% |
Purchase Information
| Fund Family: | Invesco |
| Phone Number: | 800-959-4246 |
| Website: | www.invesco.com |
| Status: | Open |
| Inception Date: | March 1, 2001 |
| 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 (%): | 1.50% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | Invesco Global Allocation A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 25 |
