14 important things you should know about Invesco ATFAX mutual fund

Updated: June 28, 2020
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Before we start: if you’re looking for ATFAX “stock” price, you can quickly find it out by visiting Finny and typing "ATFAX quote". If you’re looking for a quick scoop on ATFAX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "ATFAX". You’ll get all this info in one place.

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

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

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

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

The Fund seeks to generate as high a level of tax-exempt income as is consistent with the preservation of capital, by investing in high-quality, intermediate-term municipal securities that have a maturity of 10 years or less.

2. What are ATFAX top holdings?

ATFAX has 0 stock holdings and 596 bond holdings.

The top 10 holdings represent 8.86% of total assets. Here are the top holdings:

Name Symbol % Assets
OHIO ST HOSP FAC REV 0.99% N/A 1.43%
ILLINOIS FIN AUTH REV 0.99% N/A 1.04%
CHESAPEAKE BAY BRDG & TUNL DIST VA REV 5% N/A 0.92%
ARIZONA INDL DEV AUTH REV 3.62% N/A 0.84%
NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 0.99% N/A 0.82%
MASSACHUSETTS ST DEV FIN AGY REV 5% N/A 0.80%
CHICAGO ILL WTR REV 5% N/A 0.77%
METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV 0% N/A 0.77%
KENTUCKY ST PPTY & BLDGS COMMN REVS 5% N/A 0.74%
LOUISIANA ST CITIZENS PPTY INS CORP ASSMT REV 5% N/A 0.73%

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

ATFAX has generated the following returns:

  • 1-month return is -0.12%;
  • 3-month return is -1.73%;
  • 1-year return is 1.23%;
  • 3-year return is 1.59%;
  • 5-year return is 1.42%;
  • 10-year return is 2.53%;
  • 15-year return is 3.06%.

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

In the last 10 years, ATFAX had 8 up years and 2 down years.

5. What is ATFAX dividend yield?

ATFAX yield is 2.22%.

6. What is ATFAX minimum initial investment amount?

ATFAX minimum initial investment amount is $1.00K.

7. What is ATFAX expense ratio?

ATFAX expense ratio is 0.63%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

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

ATFAX 12b-1 distribution fee is 0.25. ATFAX front-end sales load is 2.5. ATFAX back-end sales load is 0.

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

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

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

  • 3-year beta is 0.55;
  • 5-year beta is 0.56;
  • 10-year beta is 0.67;
  • 15-year beta is 0.62.

11. What is ATFAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.04;
  • 5-year Sharpe ratio is 0.10;
  • 10-year Sharpe ratio is 0.78;
  • 15-year Sharpe ratio is 0.65.

Analysis

12. What is ATFAX Finny Score? ATFAX buy or sell?

ATFAX Finny Score is 40. Our quantitative analysis shows 4 reasons to buy ATFAX and 6 reasons to sell it, resulting in the Finny Score of 40.

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

The following are ATFAX strengths from our perspective:

  • ATFAX 3-year Beta is 0.55, which is inversely correlated with the index (BBgBarc Municipal TR USD). The could be good if you're trying to hedge your portfolio.
  • ATFAX 5-year Beta is 0.56, which is inversely correlated with the index (BBgBarc Municipal TR USD). The could be good if you're trying to hedge your portfolio.
  • ATFAX 10-year Beta is 0.67, which is inversely correlated with the index (BBgBarc Municipal TR USD). The could be good if you're trying to hedge your portfolio.
  • ATFAX 15-year Beta is 0.62, which is inversely correlated with the index (BBgBarc Municipal TR USD). The could be good if you're trying to hedge your portfolio.

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

The following are ATFAX weaknesses from our perspective:

  • ATFAX 3-year return is 1.59%, which is lower than the 3-year return of the benchmark index (S&P Municipal Bond TR), 3.52%.
  • ATFAX 5-year return is 1.42%, which is lower than the 5-year return of the benchmark index (S&P Municipal Bond TR), 3.3%.
  • ATFAX 10-year return is 2.53%, which is lower than the 10-year return of the benchmark index (S&P Municipal Bond TR), 4.06%.
  • ATFAX 15-year return is 3.06%, which is lower than the 15-year return of the benchmark index (S&P Municipal Bond TR), 4.17%.
  • Warning: this fund has a 12b1 and front-end sales fee. The maximum 12b1 fee is 0.25%, while the maximum front-end sales load is 2.5%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Front-end sales load, also known as sales charge, is a fee paid when mutual funds shares are purchased. Those fees are subtracted from your total investable assets.
  • ATFAX expense ratio is 0.63%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
In the ATFAX review, we covered ATFAX 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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