Fund Evaluator:
Invesco Value Opportunities R5 (VVONX)
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Best Performing in Mid-Cap Value Over the Last Year
| 41.4% | Fidelity Value Strategies (FSLSX) |
| 39.3% | Fidelity Advisor Mid Cap Value Z (FIDFX) |
| 39.2% | Fidelity Mid Cap Value (FSMVX) |
| 38.8% | Harbor Mid Cap Value Instl (HAMVX) |
| 38.3% | Harbor Mid Cap Value Investor (HIMVX) |
Fund Details
Invesco Value Opportunities R5 Overview
Invesco Value Opportunities R5 (VVONX) is an actively managed U.S. Equity Mid-Cap Value fund. Invesco launched the fund in 2011.
The investment seeks total return through growth of capital and current income. The fund normally invests in a portfolio of common stocks, preferred stocks and convertible securities. The fund may invest in securities of issuers of any market capitalization; however, under normal market conditions, it invests a substantial portion of its assets in securities of mid-capitalization issuers. The fund may invest up to 10% of its net assets in real estate investment trusts (REITs) and up to 25% of its net assets in securities of foreign issuers, including securities of issuers located in emerging markets countries.
About Invesco Value Opportunities R5 (VVONX)
There are 2 members of the management team with an average tenure of 11.35 years: Jonathan Edwards (2015), Jonathan Mueller (2015). 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 Mid Cap Value TR USD index with a weighting of 100%. Invesco Value Opportunities R5 has 86 securities in its portfolio. The top 10 holdings constitute 28.0% 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 Value Opportunities R5 is part of the Equity global asset class and is within the U.S. Equity fund group. Invesco Value Opportunities R5 has 8.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 88.7%. There is 8.5% 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 Value Opportunities R5 has 2.8% of the portfolio in cash.
Assets Under Management
The fund has $25 million in total assets, which is below the $642 million average for the Mid-Cap Value 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.
VVONX 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 Value Opportunities R5 expense ratio is above average compared to funds in the Mid-Cap Value category. Invesco Value Opportunities R5 has an expense ratio of 0.74%, which is 28% 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 Value Opportunities R5 has a portfolio turnover rate of 86%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Value category.
Recently, in the month of July 2026, Invesco Value Opportunities R5 returned -7.3%, which earned it a grade of F, as the Mid-Cap Value category had an average return of 1.7%. 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 Value Opportunities R5 has a trailing yield of 0.39%, which is below the 0.87% 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 Value Opportunities R5 Grades
Year to date, the fund has returned 15.1%, 0.4 percentage points worse than the category, which translates into a grade of C. The fund has returned 33.1% over the past year (grade of A), 24.2% over the past three years (grade of A) and 18.3% per year over the past five years (grade of A) and 15.9% per year over the past 10 years (grade of A).
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VVONX 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 |
|
| VVONX Return (NAV) | -7.3% | -1.2% | 33.1% | 24.2% | 18.3% | 15.9% |
| VVONX Grade | F | F | A | A | A | A |
| +/- Category | -9.0% | -7.2% | 10.0% | 10.8% | 9.0% | 5.7% |
| Mid-Cap Value Avg | 1.7% | 6.0% | 23.1% | 13.4% | 9.4% | 10.1% |
| VVONX Tax Cost Ratio | na | na | 2.3% | 1.6% | 2.0% | 1.6% |
VVONX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VVONX Return (NAV) | 15.1% | 20.5% | 30.4% | 15.5% | 1.7% | 35.9% | 6.1% | 30.4% | -19.4% | 17.6% | 18.4% |
| VVONX Grade | C | A | A | B | A | A | B | A | F | A | C |
| +/- Category | -0.4% | 10.6% | 18.7% | 1.6% | 9.9% | 8.5% | 2.3% | 4.1% | -6.1% | 3.5% | 1.0% |
| Mid-Cap Value Avg | 15.5% | 9.9% | 11.8% | 13.9% | -8.2% | 27.5% | 3.8% | 26.3% | -13.4% | 14.1% | 17.4% |
| Risk Measures | |
| Standard Deviation: | 17.1% |
| Total Risk Index: | 1.40 - High |
| Category Risk Index: | 1.17 - High |
| Category Risk Grade: | F (92% Rank) |
| Beta: | 0.99 |
| R-Squared: | 57% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $9095 Mil |
| Fund Total Assets: | $ 25 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 86% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.4 years | |||
| Average Tenure: 11.4 years | |||
| Managers (Year): Edwards Jonathan (2015), Mueller Jonathan (2015) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 86 |
| % in Top 10 Holdings: | 28.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 8.5% |
Portfolio Allocation |
|
| Domestic Stock: | 88.7% |
| Foreign Stock: | 8.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.8% |
Purchase Information
| Fund Family: | Invesco |
| Phone Number: | 800-959-4246 |
| Website: | www.invesco.com |
| Status: | Closed |
| Inception Date: | May 23, 2011 |
| 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 (%): | 0.74% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Invesco Value Opportunities A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
