Invesco Short Term Bond Fund
AIM Investment Securities Funds (Invesco Investment Securities Funds) · 6 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2026 Q2
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.
| Share class | Gross | Net |
|---|---|---|
| STBAX | 0.64% | 0.64% |
| STBCX | 1.14% | 0.99% |
| STBRX | 0.99% | 0.99% |
| ISTBX | 0.46% | 0.46% |
| STBYX | 0.49% | 0.49% |
| ISTFX | 0.39% | 0.39% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 177.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| 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.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 28.2% |
| Other | 21.6% |
| Financials | 14.8% |
| International | 9.1% |
| 12 smaller | 26.2% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: U.S. Treasury Notes/Bonds ×2, CoreWeave Compute Acquisition Co. VIII, LLC, Salesforce, Inc., Meta Platforms, Inc., Galaxy XXII CLO Ltd., Augusta SpinCo Corp., Merck & Co., Inc.
Largest exited: U.S. Treasury Notes, U.S. Treasury Notes/Bonds, Alphabet Inc., U.S. Treasury Bills, Goldman Sachs Group, Inc. (The), QTS Thunder Managing Issuer LLC, Australia & New Zealand Banking Group Ltd./New York NY, Merck & Co., Inc.
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.09% | +15.87% | +12.01% | 1.49% | -0.79% | |
| +3.60% | +14.66% | +9.95% | 1.50% | -0.82% | |
| +3.73% | +14.66% | +10.08% | 1.32% | -0.78% | |
| +4.28% | +16.64% | +13.04% | 1.32% | -0.65% | |
| +4.25% | +16.53% | +12.85% | 1.44% | -0.77% | |
| +4.32% | +16.69% | +13.37% | 1.48% | -0.76% |
These classes hold the same portfolio, so the 3.42pp spread over 5 years is the cost difference between them — roughly 0.68pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Invesco Private Prime Fund | 3.89% | — | $80.44M | — |
| — | U.S. Treasury Notes/Bonds3.75% · due 2028-04-30 | 1.68% | — | $34.77M | — |
| — | Invesco Private Government Fund | 1.60% | — | $33.01M | — |
| — | U.S. Treasury Notes/Bonds3.88% · due 2029-05-15 | 1.52% | — | $31.47M | — |
| — | CoreWeave Compute Acquisition Co. VIII, LLC5.87% floating · due 2032-03-31 | 1.02% | — | $21.06M | — |
| — | BX Trust4.25% 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% | $25.01 | $15.26M | 610.3K |
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.
Top 10 positions are 13.90% of net assets, top 25 23.11%, across 477 issuers.
See more of this fund's book
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