Fund Facts  

Inception Date: Dec 31, 1996
Ticker Symbol: IARAX
Morningstar Category:Real Estate
As of Mar 31, 2014
Fund Net Assets ($millions) $2,117

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks total return through growth of capital and current income.

Principal Investment Strategies  

The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of real estate and real estate-related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities. It may also invest in debt securities, including corporate debt obligations and commercial mortgage-backed securities. The fund may invest up to 10% of its net assets in non-investment grade debt securities (commonly known as "junk bonds") of real estate and real estate-related issuers.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Jun 30, 2015
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Invesco Real Estate Aa-9.34%-6.19%3.43%7.97%12.93%6.92%9.58%
S&P 500 Indexa,b2.46%3.84%3.99%11.66%12.10%7.42%N/A
Morningstar Real Estatea,c5.51%10.46%19.50%12.11%11.17%6.42%N/A

Fund past performance, as shown, is no guarantee of how the fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total expensesa1.25%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2016 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The S&P 500 Index consists of 500 companies representing larger capitalization stocks traded in the U.S.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Sep 15, 2011Sep 15, 2110$0.041700000
Jun 18, 2015Jun 18, 2015$0.059500000
Mar 19, 2015Mar 19, 2015$0.049900000
Dec 12, 2014Dec 12, 2014$1.095300000
Sep 18, 2014Sep 18, 2014$0.050600000
Jun 19, 2014Jun 19, 2014$0.056000000
Mar 20, 2014Mar 20, 2014$0.070300000
Sep 19, 2013Sep 19, 2013$0.067900000
Jun 20, 2013Jun 20, 2013$0.057900000
Mar 21, 2013Mar 21, 2013$0.074900000
Dec 7, 2012Dec 7, 2012$2.132200000
Sep 20, 2012Sep 20, 2012$0.024900000
Jun 14, 2012Jun 14, 2012$0.024900000
Mar 15, 2012Mar 15, 2012$0.024900000
Dec 9, 2011Dec 9, 2011$0.024900000
Jun 16, 2011Jun 16, 2011$0.044300000
Mar 17, 2011Mar 17, 2011$0.067300000
Dec 3, 2010Dec 3, 2010$0.078400000
 

Morningstar Information

Morningstar Rating   As of Mar 31, 2014
Period Stars Category Size
Overall 3 Stars246
3-Year 2 Stars246
5-Year 1 Stars210
10-Year 4 Stars157

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.

Allocation of Assets As of Dec 31, 2013
Type of Asset Percent
Equity98%
Fixed Income0%
Cash/Other2%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Dec 31, 2013
Asset ClassPercent
Domestic Stock97.7%
Foreign Stock0.0%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash1.4%
Other0.9%

Due to rounding, percentages shown may not add up to 100%.

 
Top Ten Holdings As of Dec 31, 2013
Holding NamePercent
Simon Property Group Inc9.9%
American Tower Corp6.2%
Prologis Inc5.6%
AvalonBay Communities Inc5.5%
Weyerhaeuser Co5.1%
SL Green Realty Corporation4.8%
Boston Properties Inc4.7%
Health Care REIT, Inc.4.6%
DDR Corp4.5%
Host Hotels & Resorts Inc4.3%
 

Statistics

Portfolio Statistics As of Mar 31, 2014
Statistic3-Year5-Year
Beta0.940.91
Alpha-0.63-0.85
Standard Deviation15.8920.42
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2016 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.