Invesco Developing Markets Fund
Actively managed emerging-markets stock fund
As of its 2026 Q2 report, Invesco Developing Markets Fund held 77 positions with $8.76B in net assets. Its ten largest holdings made up 45.7% of the fund. Its share classes cost 0.88%–2.05% a year. Over the 12 months to May 2026, it returned 43.1%, with dividends reinvested. In 2026 Q3 it added 1 new positions and exited 4.
The Funds investment objective is to seek capital appreciation.
The fund seeks capital appreciation by investing primarily in common stocks of companies in developing and emerging markets worldwide, using fundamental analysis to identify securities trading below intrinsic value across different market capitalizations and industries. The fund maintains at least 80% of net assets in equity securities of issuers in developing markets or economically tied to them, and invests in at least three developing markets. The fund may invest in China A Shares through Stock Connect or a private investment vehicle, and holds U.S. securities only for defensive and liquidity purposes. Because the fund's returns depend on the portfolio managers' security selection decisions, performance will diverge from any emerging markets index.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
TSMWFTaiwan Semiconductor Manufacturing Co. Ltd. | 13.71% | $1.20B | 17.3M | $69.42 |
SSNLFSamsung Electronics Co., Ltd. | 8.56% | $749.87M | 5.0M | $150.59 |
TCTZFTencent Holdings Ltd. | 4.97% | $435.49M | 7.2M | $60.73 |
PBRPetroleo Brasileiro S.A. PETROBRAS | 3.73% | $327.37M | 14.9M | $22.03 |
HDFC Bank Ltd. | 3.27% | $286.43M | 35.0M | $8.18 |
AAIGFAIA Group Ltd. | 2.61% | $228.85M | 20.8M | $10.98 |
VALEVale S.A. | 2.32% | $203.34M | 12.4M | $16.36 |
MediaTek Inc. | 2.25% | $197.18M | 2.4M | $83.48 |
Kasikornbank PCL | 2.17% | $189.80M | 31.9M | $5.95 |
Inner Mongolia Yili Industrial Group Co., Ltd. | 2.07% | $181.32M | 45.1M | $4.02 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 77 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%.
| Stocks | 96.98% |
| Cash & short-term | 1.61% |
| Derivatives | 0.00% |
Look-through blends 2 underlying funds; 2.381% of NAV was not looked through and stays direct-classified. The blend is as of 2025Q3, one or more quarters before the direct holdings (2026Q2).
How it has done
C000209613 share class · total returns with dividends reinvested
Volatility over the last 12 months: 16.42%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Fees & fund details
Invesco Developing Markets Fund is an actively managed emerging-markets equity fund.
- Asset class
- Equity
- Region
- Emerging markets
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.88% – 2.05%
- Portfolio turnover
- 79.00% a year · as of 2026 Q1
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.
1 new
4 exited
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