Invesco Short Term Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Invesco Short Term Bond Fund held 1,004 positions with $2.07B in net assets. Its ten largest holdings made up 13.9% of the fund. The STBAX share class costs 0.64% a year. Over the 12 months to May 2026, STBAX returned 4.2%, with dividends reinvested. In 2026 Q2 it added 149 new positions and exited 61.
The Fund's investment objective is total return, comprised of current income and capital appreciation.
The fund invests at least 80% of assets in investment-grade fixed-income securities—corporate bonds, U.S. Treasuries, agencies, and mortgage- and asset-backed securities—with a target dollar-weighted average maturity and duration under three years, using active duration and yield curve positioning relative to the Bloomberg 1-3 Year Government/Credit Index to generate alpha. The fund may hold up to 25% in foreign debt including emerging-market securities, up to 20% in below-investment-grade securities, and up to 20% in non-dollar currencies; it employs derivatives including swaps, futures, and options to adjust interest-rate and credit exposures. Because the fund does not track the index but instead makes active decisions on risk factors and security selection relative to it, portfolio composition and returns will diverge from the benchmark. The fund engages in active and frequent trading.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Invesco Private Prime Fund | 3.89% | $80.44M | — | — |
U.S. Treasury Notes/Bonds 3.75% · due 2028-04-30 | 1.68% | $34.77M | — | — |
Invesco Private Government Fund | 1.60% | $33.01M | — | — |
U.S. Treasury Notes/Bonds 3.88% · due 2029-05-15 | 1.52% | $31.47M | — | — |
CoreWeave Compute Acquisition Co. VIII, LLC 5.87% floating · due 2032-03-31 | 1.02% | $21.06M | — | — |
BX Trust 4.25% floating · due 2036-10-15 | 0.94% | $19.55M | — | — |
Salesforce, Inc. 4.65% · due 2029-03-15 | 0.85% | $17.68M | — | — |
Meta Platforms, Inc. 4.55% · due 2031-05-15 | 0.84% | $17.48M | — | — |
Eagle Funding LuxCo S.a.r.l. 5.50% · due 2030-08-17 | 0.81% | $16.70M | — | — |
Invesco Short Duration Total Return Bond ETF | 0.74% | $15.26M | 610.3K | $25.01 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
The 200 largest of 1,004 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 | 67.24% |
| Securitized | 30.47% |
| Cash & short-term | 6.28% |
| Loans | 2.14% |
| Stocks | 0.42% |
| Derivatives | -0.04% |
Look-through blends 3 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
By sector
- Securitized
- 28.2%
- Other
- 22.6%
- Financials
- 13.1%
- International
- 9.9%
- 12 other sectors
- 26.2%
- Securitized
- 28.2%
- Other
- 22.6%
- Financials
- 13.1%
- International
- 9.9%
- Government
- 6.8%
- Cash
- 5.8%
- Information Technology
- 2.6%
- Utilities
- 2.4%
- Industrials
- 2.3%
- Health Care
- 2.0%
- Communication Services
- 1.3%
- Consumer Discretionary
- 1.2%
- Consumer Staples
- 0.7%
- Materials
- 0.4%
- Real Estate
- 0.3%
- Energy
- 0.2%
How it has done
STBAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 1.48%. 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 |
|---|---|---|---|---|---|
| 0.64% | +4.17% | +16.73% | +12.22% | -0.79% | |
| 0.99% | +3.80% | +15.51% | +10.16% | -0.82% | |
| 0.99% | +3.94% | +15.51% | +10.16% | -0.69% | |
| 0.46% | +4.49% | +17.36% | +13.25% | -0.65% | |
| 0.49% | +4.45% | +17.39% | +13.06% | -0.77% | |
| 0.39% | +4.52% | +17.55% | +13.58% | -0.76% |
These classes hold the same portfolio, so the 3.43pp spread over 5 years is the cost difference between them — roughly 0.69pp a year — not a difference in what they own.
Fees & fund details
Invesco Short Term 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
- Short duration
- Expense ratio, by class
- 0.39% – 0.99%· STBAX 0.64%
- Portfolio turnover
- 177.00% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
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.
149 new· the largest 7
61 exited· the largest 8
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 | 50.5% |
| Floating rate | 49.1% |
| Zero-coupon or unclassified | 0.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 5.3% |
| 1-3y | 39.7% |
| 3-5y | 19.1% |
| 5-10y | 12.1% |
| 10y+ | 21.1% |
| Unknown | 2.7% |
Based on what filers reported; a filer that never reported a flag also reads as none.
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 | 54% |
| Interest rates | 46% |
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 | +2.12 yr |
| High yield | +0.15 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 | 1.38 yr | 67% |
| 5 yr | 0.68 yr | 33% |
| 30 yr | 0.01 yr | 0% |
3 mo and 10 yr are NEGATIVE (-0.07 yr, -0.04 yr) — a deliberate hedge at that point on the curve, so they are not part of the band above.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.86 yr | 38% |
| 5 yr | 1.19 yr | 52% |
| 10 yr | 0.16 yr | 7% |
| 30 yr | 0.03 yr | 1% |
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 | -0.07 | +0.03 | +0.00 | $6.7k | $110 |
| 1 yr | +1.38 | +0.81 | +0.05 | $168.1k | $10.4k |
| 5 yr | +0.68 | +1.09 | +0.10 | $225.5k | $20.8k |
| 10 yr | -0.04 | +0.16 | +0.00 | $33.6k | $84 |
| 30 yr | +0.01 | +0.03 | +0.00 | $5.6k | $1 |
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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