Invesco Corporate Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Invesco Corporate Bond Fund held 1,917 positions with $4.00B in net assets. Its ten largest holdings made up 18.2% of the fund. The ACCEX share class costs 1.43% a year. Over the 12 months to May 2026, ACCEX returned 5.5%, with dividends reinvested. In 2026 Q2 it added 283 new positions and exited 123.
The Funds primary investment objective is to seek to provide current income with preservation of capital.
The fund invests at least 80% of assets in corporate bonds, with at least 65% in investment-grade securities, U.S. government obligations, or cash; up to 35% may be in below-investment-grade bonds, subject to a 20% limit on securities rated B- or below. Portfolio managers use a bottom-up approach informed by market specialists to position the fund relative to the Bloomberg U.S. Credit Index, adjusting duration, yield curve positioning, and sector exposure to seek alpha rather than tracking the index. The fund may also hold convertible securities, preferred stocks, foreign debt, mortgage- and asset-backed securities, and derivatives including credit default swaps and interest rate swaps. Because the fund is not an index fund and portfolio managers make active decisions on risk factors and security selection, returns may diverge materially from the index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Invesco Private Prime Fund | 8.43% | $337.38M | — |
Invesco Private Government Fund | 3.29% | $131.82M | — |
CoreWeave Compute Acquisition Co. VIII, LLC 5.87% floating · due 2032-03-31 | 1.40% | $56.08M | — |
TRPXXInvesco Treasury Portfolio | 0.85% | $34.09M | — |
U.S. Treasury Notes/Bonds 4.38% · due 2036-05-15 | 0.78% | $31.19M | — |
QTS Fayetteville I Dc1-2 LLC / QTS TRS Fayetteville I DC1-2 LLC 5.70% · due 2036-04-15 | 0.78% | $31.11M | — |
Beignet Investor LLC 6.58% · due 2049-05-30 | 0.76% | $30.53M | — |
Eagle Funding LuxCo S.a.r.l. 5.50% · due 2030-08-17 | 0.74% | $29.44M | — |
Goldman Sachs Group, Inc. (The) 5.39% floating · due 2041-02-02 | 0.58% | $23.22M | — |
Qdoba Funding LLC 6.70% · due 2056-06-14 | 0.57% | $22.70M | — |
The 200 largest of 1,917 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 90.89% |
| Cash & short-term | 13.09% |
| Securitized | 4.90% |
| Loans | 2.83% |
| 2 smaller | 1.43% |
Look-through blends 5 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
By sector
- Other
- 22.1%
- Financials
- 15.1%
- International
- 13.5%
- Cash
- 11.5%
- 12 other sectors
- 37.8%
- Other
- 22.1%
- Financials
- 15.1%
- International
- 13.5%
- Cash
- 11.5%
- Utilities
- 7.2%
- Industrials
- 4.8%
- Communication Services
- 4.4%
- Government
- 4.3%
- Securitized
- 4.1%
- Information Technology
- 4.1%
- Health Care
- 3.1%
- Energy
- 1.8%
- Consumer Discretionary
- 1.3%
- Real Estate
- 1.1%
- Consumer Staples
- 1.1%
- Materials
- 0.5%
How it has done
ACCEX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.63%. Past returns are a record, not a forecast.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.43% | +5.53% | +15.52% | -2.29% | -5.66% | |
| 0.46% | +6.70% | +19.15% | +2.84% | -5.29% | |
| 0.41% | +6.75% | +19.32% | +3.12% | -5.29% | |
| 0.71% | +6.43% | +18.45% | +1.66% | -5.53% | |
| 0.96% | +6.17% | +17.38% | +0.38% | -5.42% | |
| 0.34% | +6.83% | +19.58% | +3.49% | -5.26% |
These classes hold the same portfolio, so the 5.78pp spread over 5 years is the cost difference between them — roughly 1.16pp a year — not a difference in what they own.
Fees & fund details
Invesco Corporate Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.34% – 1.43%· ACCEX 1.43%
- Portfolio turnover
- 219.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
283 new· the largest 7
123 exited· the largest 7
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 71.6% |
| Floating rate | 28.2% |
| Zero-coupon or unclassified | 0.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.6% |
| 1-3y | 5.3% |
| 3-5y | 12.9% |
| 5-10y | 37.1% |
| 10y+ | 39.7% |
| Unknown | 4.5% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 51% |
| Interest rates | 49% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +6.46 yr |
| High yield | +0.39 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 0.64 yr | 10% |
| 5 yr | 1.85 yr | 28% |
| 10 yr | 2.62 yr | 40% |
| 30 yr | 1.47 yr | 22% |
3 mo is NEGATIVE (-0.03 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.36 yr | 5% |
| 5 yr | 1.79 yr | 26% |
| 10 yr | 2.91 yr | 43% |
| 30 yr | 1.76 yr | 26% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.03 | +0.02 | +0.00 | $8.1k | $572 |
| 1 yr | +0.64 | +0.30 | +0.06 | $121.1k | $24.9k |
| 5 yr | +1.85 | +1.58 | +0.21 | $631.8k | $85.3k |
| 10 yr | +2.62 | +2.82 | +0.09 | $1.13m | $35.2k |
| 30 yr | +1.47 | +1.73 | +0.03 | $692.7k | $10.6k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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