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15 important things you should know about Invesco PIAFX mutual fund

Updated: September 28, 2020
20
Bull Case
  • 5-year return above the benchmark
Bear Case
  • Low net assets
  • 3-year return below the benchmark
  • High expense ratio
  • Sales load and/or distribution fees

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

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

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

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

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

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

Fact Sheet

1. Describe AIM Investment Funds (Invesco Investment Funds): Invesco Multi-Asset Income Fund; Class A Shares (PIAFX).

The Fund seeks to provide current income. The Fund allocates across multiple income producing asset classes and strategies such as high yield debt, US dollar denominated emerging market debt, and debt securities backed by US Government or its agencies and instrumentalities. The Fund may invest in US and non-US issuers.

2. What are PIAFX top holdings?

PIAFX has 30 stock holdings and 438 bond holdings.

The top 10 holdings represent 46.31% of total assets. Here are the top holdings:

Name Symbol % Assets
Long Gilt Future June 20 RM0.L 16.14%
US Treasury Bond Future June 20 ZBM0 7.95%
United States Treasury Bonds 4.25% N/A 7.00%
E-mini S&P 500 Future June 20 ESM0 6.02%
Euro Stoxx 50 June20 FESXM0 4.30%
TOPIX Future June 20 TOPIXM0 1.50%
E-mini Russell 2000 Index Future June 20 RTYM0 1.07%
FTSE 100 Index Future June 20 ZM0 0.89%
Vanguard Real Estate ETF VNQ 0.83%
Alerian MLP ETF AMLP 0.61%

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

PIAFX has generated the following returns:

  • 1-month return is -1.61%;
  • 3-month return is 2.50%;
  • 1-year return is -8.63%;
  • 3-year return is 0.11%;
  • 5-year return is 4.08%.

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

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

PIAFX up and down years

5. What is PIAFX dividend yield?

PIAFX yield is 4.88%.

6. What is PIAFX minimum initial investment amount?

PIAFX minimum initial investment amount is $1.00K.

7. What is PIAFX expense ratio?

PIAFX expense ratio is 0.86%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

PIAFX expenses

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

PIAFX 12b-1 distribution fee is 0.25. PIAFX front-end sales load is 5.5. PIAFX back-end sales load is 0.

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

  • 1-year ax cost ratio is 2.29%;
  • 3-year ax cost ratio is 2.24%.
PIAFX tax costs

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

  • 3-year beta is 0.99;
  • 5-year beta is 0.94.
PIAFX Beta

11. What is PIAFX Sharpe ratio?

  • 3-year Sharpe ratio is -0.13;
  • 5-year Sharpe ratio is 0.25.
PIAFX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 20. Our quantitative analysis shows 1 reason to buy and 4 reasons to sell it, resulting in the Finny Score of 20.

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

The following are PIAFX strengths from our perspective:

  • <strong>PIAFX 5-year return</strong> is 4.08%, which is in line with the 5-year return of the benchmark index (Bloomberg Barclays US Aggregate Bond TR USD), 4.32%.

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

The following are PIAFX weaknesses from our perspective:

  • <strong>PIAFX net assets</strong> are $204.40 million. This fund is not a popular choice with retail investors.
  • <strong>PIAFX 3-year return</strong> is 0.11%, which is lower than the 3-year return of the benchmark index (Bloomberg Barclays US Aggregate Bond TR USD), 5.29%.
  • <strong>PIAFX expense ratio</strong> is 0.86%, 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 0.25%, 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 PIAFX review, we covered PIAFX 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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