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15 important things you should know about Invesco ACTFX mutual fund

Updated: September 27, 2020
N/A
Bull Case
  • No Bull case arguments for now!
Bear Case
  • Low net assets
  • 3-year return below the benchmark
  • 5-year return below the benchmark
  • 10-year return below the benchmark
  • 15-year return below the benchmark
  • High expense ratio
  • Sales load and/or distribution fees

Before we start: if you’re looking for ACTFX “stock” price, you can quickly find it out by visiting Finny and typing "ACTFX quote". If you’re looking for a quick scoop on ACTFX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "ACTFX". You’ll get all this info in one place.

Are you looking to buy or sell ACTFX? Or perhaps you’re looking for ACTFX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this ACTFX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: ACTFX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: ACTFX buy or sell; the pros and cons of investing in ACTFX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to ACTFX.

And here is the list of questions we’ll answer:

  1. Describe AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds): Invesco High Yield Municipal Fund; Class C Shares (ACTFX).
  2. What are ACTFX holdings?
  3. What is ACTFX performance? What are ACTFX historical returns?
  4. How many up and down years did ACTFX have historically?
  5. What is ACTFX dividend yield?
  6. What is ACTFX minimum initial investment amount?
  7. What is ACTFX expense ratio?
  8. Does ACTFX have any sales loads or 12b-1 distribution expenses?
  9. What is ACTFX tax efficiency (tax-cost ratio)?
  10. What is ACTFX beta? How would you assess ACTFX risk?
  11. What is ACTFX Sharpe ratio?
  12. What is ACTFX Finny Score? ACTFX buy or sell?
  13. What are the pros of investing in ACTFX? What are ACTFX buy reasons?
  14. What are the cons of investing in ACTFX? What are ACTFX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds): Invesco High Yield Municipal Fund; Class C Shares (ACTFX).

The Fund seeks as high a level of interest income exempt from federal income tax as is consistent with the investment policies of the Fund. The Fund's investment adviser seeks to this objective by investing primarily in a portfolio of medium and lower-grade municipal securities.

2. What are ACTFX top holdings?

ACTFX has 0 stock holdings and 1,475 bond holdings.

The top 9 holdings represent 10.33% of total assets. Here are the top holdings:

Name Symbol % Assets
10 Year Treasury Note Future June 20 ZNM0 4.87%
BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% N/A 0.77%
CHICAGO ILL 6% N/A 0.74%
CHILDRENS TR FD P R TOB SETTLEMENT REV 0% N/A 0.70%
JEFFERSON CNTY ALA SWR REV 0% N/A 0.66%
NASSAU CNTY N Y TOBACCO SETTLEMENT CORP 5.12% N/A 0.66%
CUYAHOGA CNTY OHIO HOSP REV 5.5% N/A 0.65%
INLAND EMPIRE TOBACCO SECURIZATION AUTH CALIF TOB 0% N/A 0.64%
WESTCHESTER CNTY N Y INDL DEV AGY SPL FAC REV 7% N/A 0.64%

3. What is ACTFX performance? What are ACTFX historical returns?

ACTFX has generated the following returns:

  • 1-month return is 0.01%;
  • 3-month return is 3.05%;
  • 1-year return is -0.74%;
  • 3-year return is 3.10%;
  • 5-year return is 3.90%;
  • 10-year return is 4.73%;
  • 15-year return is 4.01%.

4. How many up and down years did ACTFX have historically?

In the last 10 years, ACTFX had 9 up years and 1 down year.

ACTFX up and down years

5. What is ACTFX dividend yield?

ACTFX yield is 3.61%.

6. What is ACTFX minimum initial investment amount?

ACTFX minimum initial investment amount is $1.00K.

7. What is ACTFX expense ratio?

ACTFX expense ratio is 1.97%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

ACTFX expenses

8. Does ACTFX have any sales loads or 12b-1 distribution expenses?

ACTFX 12b-1 distribution fee is 1. ACTFX front-end sales load is 0. ACTFX back-end sales load is 1.

9. What is ACTFX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 0%;
  • 3-year ax cost ratio is 0%.
ACTFX tax costs

10. What is ACTFX beta? How would you assess ACTFX risk?

  • 3-year beta is 1.71;
  • 5-year beta is 1.53;
  • 10-year beta is 1.43;
  • 15-year beta is 1.39.
ACTFX Beta

11. What is ACTFX Sharpe ratio?

  • 3-year Sharpe ratio is 0.17;
  • 5-year Sharpe ratio is 0.42;
  • 10-year Sharpe ratio is 0.72.
ACTFX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 0. Our quantitative analysis shows 0 reasons to buy and 7 reasons to sell it, resulting in the Finny Score of 0.

13. What are the pros of investing in ACTFX? What are ACTFX buy reasons?

We don't see any strong reasons to buy ACTFX.

14. What are the cons of investing in ACTFX? What are ACTFX negatives?

The following are ACTFX weaknesses from our perspective:

  • <strong>ACTFX net assets</strong> are $923.60 million. This fund is not a popular choice with retail investors.
  • <strong>ACTFX 3-year return</strong> is 3.1%, which is lower than the 3-year return of the benchmark index (S&P Municipal Bond High Yield TR), 5.51%.
  • <strong>ACTFX 5-year return</strong> is 3.9%, which is lower than the 5-year return of the benchmark index (S&P Municipal Bond High Yield TR), 6%.
  • <strong>ACTFX 10-year return</strong> is 4.73%, which is lower than the 10-year return of the benchmark index (S&P Municipal Bond High Yield TR), 6.39%.
  • <strong>ACTFX 15-year return</strong> is 4.01%, which is lower than the 15-year return of the benchmark index (S&P Municipal Bond High Yield TR), 5.34%.
  • <strong>ACTFX expense ratio</strong> is 1.97%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • Warning: this fund has a 12b1 and deferred sales fee. The maximum 12b1 fee is 1%, while the maximum deferred sales load is 1%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Deferred sales load is a back-end sales charge and is imposed when an investor redeems shares.
In the ACTFX review, we covered ACTFX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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