Fund Evaluator:
Invesco Summit R5 (SMITX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
Invesco Summit R5 Overview
Invesco Summit R5 (SMITX) is an actively managed U.S. Equity Large Growth fund. Invesco launched the fund in 2008.
The investment seeks long-term growth of capital. The fund invests primarily in equity securities of issuers of all market capitalizations that are considered by the fund's portfolio managers to have potential for earnings or revenue growth. The principal type of equity securities in which it invests is common stock. The fund does not invest in companies whose primary business involves alcohol, tobacco or gambling. It may invest up to 25% of its net assets in foreign securities, including up to 10% of its net assets in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles. The fund is non-diversified.
About Invesco Summit R5 (SMITX)
There are 2 members of the management team with an average tenure of 8.35 years: Ido Cohen (2013), Ronald Zibelli (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 1000 Growth TR USD index with a weighting of 100%. Invesco Summit R5 has 59 securities in its portfolio. The top 10 holdings constitute 47.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Invesco Summit R5 is part of the Equity global asset class and is within the U.S. Equity fund group. Invesco Summit R5 has 7.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.3%. There is 7.4% 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 Summit R5 has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $18 million in total assets, which is below the $2 billion average for the Large Growth 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.
SMITX 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 Summit R5 expense ratio is above average compared to funds in the Large Growth category. Invesco Summit R5 has an expense ratio of 0.69%, which is 28% lower than its category average, making the fund expense ratio grade a B. 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 Summit R5 has a portfolio turnover rate of 58%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, Invesco Summit R5 returned -6.8%, which earned it a grade of F, as the Large Growth category had an average return of -3.1%. 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 Summit R5 has a trailing yield of 0.00%, which is below the 0.06% 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 Summit R5 Grades
Year to date, the fund has returned 2.3%, 1.4 percentage points worse than the category, which translates into a grade of C. The fund has returned 5.5% over the past year (grade of D), 16.8% over the past three years (grade of D) and 6.9% per year over the past five years (grade of F) and 14.6% per year over the past 10 years (grade of D).
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SMITX 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 |
|
| SMITX Return (NAV) | -6.8% | -0.6% | 5.5% | 16.8% | 6.9% | 14.6% |
| SMITX Grade | F | F | D | D | F | D |
| +/- Category | -3.7% | -2.3% | -3.5% | -1.3% | -1.8% | -0.8% |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| SMITX Tax Cost Ratio | na | na | 3.1% | 1.2% | 2.0% | 1.8% |
SMITX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SMITX Return (NAV) | 2.3% | 11.0% | 34.5% | 36.9% | -33.0% | 11.3% | 42.3% | 38.7% | -2.7% | 30.0% | 2.5% |
| SMITX Grade | C | F | B | D | D | F | B | A | D | C | C |
| +/- Category | -1.4% | -4.7% | 4.8% | -1.9% | -0.9% | -9.0% | -0.0% | 5.5% | -2.0% | 0.2% | -0.2% |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 19.4% |
| Total Risk Index: | 1.58 - High |
| Category Risk Index: | 1.10 - High |
| Category Risk Grade: | F (85% Rank) |
| Beta: | 1.34 |
| R-Squared: | 82% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $3360 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 58% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 13.0 years | |||
| Average Tenure: 8.4 years | |||
| Managers (Year): Cohen Ido (2013), Zibelli Ronald (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 59 |
| % in Top 10 Holdings: | 47.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 7.4% |
Portfolio Allocation |
|
| Domestic Stock: | 92.3% |
| Foreign Stock: | 7.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | Invesco |
| Phone Number: | 800-959-4246 |
| Website: | www.invesco.com/us |
| Status: | Closed |
| Inception Date: | October 3, 2008 |
| 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 (%): | 0.69% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Invesco Summit P |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
