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15 important things you should know about Invesco CNSAX mutual fund

Updated: Last Tuesday
29
Bull Case
  • 3-year return above the benchmark
  • 15-year return above the benchmark
Bear Case
  • Low net assets
  • 5-year return below the benchmark
  • 10-year return below the benchmark
  • High expense ratio
  • Sales load and/or distribution fees

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

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

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

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

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

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

Fact Sheet

1. Describe AIM Growth Series (Invesco Growth Series): Invesco Convertible Securities Fund; Class A Shares (CNSAX).

The Fund seeks high level of total return through a combination of current income and capital appreciation. The Fund invests 80% of its net assets in convertible securities. The Fund may also invest in common stocks, non-convertible preferred stock, non-convertible fixed-income securities, and/or foreign securities.

2. What are CNSAX top holdings?

CNSAX has 7 stock holdings and 0 bond holdings.

The top 10 holdings represent 18.90% of total assets. Here are the top holdings:

Name Symbol % Assets
Bank of America Corp 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L- BACPL 2.53%
Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L- WFCPL 2.41%
Broadcom Inc 8% PRF CONVERT 30/09/2022 USD 1000 Ser A AVGOP 1.96%
Gci Liberty Inc 1.75% N/A 1.89%
Servicenow Inc 0% N/A 1.81%
Docusign Inc 0.5% N/A 1.74%
Danaher Corp PRF CONVERT 15/04/2022 USD - Ser A DHRPA 1.70%
Inphi Corp 0.75% N/A 1.68%
Atlassian Inc 0.62% N/A 1.59%
NextEra Energy Inc Unit NEEPP 1.59%

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

CNSAX has generated the following returns:

  • 1-month return is 5.00%;
  • 3-month return is 9.46%;
  • 1-year return is 31.63%;
  • 3-year return is 15.02%;
  • 5-year return is 11.54%;
  • 10-year return is 9.37%;
  • 15-year return is 8.59%.

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

In the last 10 years, CNSAX had 7 up years and 3 down years.

CNSAX up and down years

5. What is CNSAX dividend yield?

CNSAX yield is 1.25%.

6. What is CNSAX minimum initial investment amount?

CNSAX minimum initial investment amount is $1.00K.

7. What is CNSAX expense ratio?

CNSAX expense ratio is 0.91%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

CNSAX expenses

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

CNSAX 12b-1 distribution fee is 0.24. CNSAX front-end sales load is 5.5. CNSAX back-end sales load is 0.

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

  • 1-year ax cost ratio is 1.51%;
  • 3-year ax cost ratio is 1.85%.
CNSAX tax costs

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

  • 3-year beta is 1.22;
  • 5-year beta is 1.17;
  • 10-year beta is 1.11;
  • 15-year beta is 1.11.
CNSAX Beta

11. What is CNSAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.73;
  • 5-year Sharpe ratio is 0.60;
  • 10-year Sharpe ratio is 0.86.
CNSAX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 29. Our quantitative analysis shows 2 reasons to buy and 5 reasons to sell it, resulting in the Finny Score of 29.

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

The following are CNSAX strengths from our perspective:

  • <strong>CNSAX 3-year return</strong> is 15.02%, which is in line with the 3-year return of the benchmark index (ICE BofA All US Convertible TR USD), 16.01%.
  • <strong>CNSAX 15-year return</strong> is 8.59%, which is in line with the 15-year return of the benchmark index (ICE BofA All US Convertible TR USD), 9.39%.

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

The following are CNSAX weaknesses from our perspective:

  • <strong>CNSAX net assets</strong> are $565.20 million. This fund is not a popular choice with retail investors.
  • <strong>CNSAX 5-year return</strong> is 11.54%, which is lower than the 5-year return of the benchmark index (ICE BofA All US Convertible TR USD), 13.56%.
  • <strong>CNSAX 10-year return</strong> is 9.37%, which is lower than the 10-year return of the benchmark index (ICE BofA All US Convertible TR USD), 11.36%.
  • <strong>CNSAX expense ratio</strong> is 0.91%, 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 front-end sales fee. The maximum 12b1 fee is 0.24%, while the maximum front-end sales load is 5.5%. 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.
In the CNSAX review, we covered CNSAX 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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