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15 important things you should know about Invesco PICFX mutual fund

Updated: September 28, 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
  • High expense ratio
  • Sales load and/or distribution fees

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

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

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

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

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

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 PICFX top holdings?

PICFX 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 PICFX performance? What are PICFX historical returns?

PICFX has generated the following returns:

  • 1-month return is -1.67%;
  • 3-month return is 2.31%;
  • 1-year return is -9.24%;
  • 3-year return is -0.62%;
  • 5-year return is 3.31%.

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

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

PICFX up and down years

5. What is PICFX dividend yield?

PICFX yield is 4.16%.

6. What is PICFX minimum initial investment amount?

PICFX minimum initial investment amount is $1.00K.

7. What is PICFX expense ratio?

PICFX expense ratio is 1.61%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

PICFX expenses

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

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

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

  • 1-year ax cost ratio is 2.01%;
  • 3-year ax cost ratio is 1.94%.
PICFX tax costs

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

  • 3-year beta is 0.98;
  • 5-year beta is 0.94.
PICFX Beta

11. What is PICFX Sharpe ratio?

  • 3-year Sharpe ratio is -0.19;
  • 5-year Sharpe ratio is 0.18.
PICFX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 0. Our quantitative analysis shows 0 reasons to buy and 5 reasons to sell it, resulting in the Finny Score of 0.

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

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

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

The following are PICFX weaknesses from our perspective:

  • <strong>PICFX net assets</strong> are $127.30 million. This fund is not a popular choice with retail investors.
  • <strong>PICFX 3-year return</strong> is -0.62%, which is lower than the 3-year return of the benchmark index (Bloomberg Barclays US Aggregate Bond TR USD), 5.29%.
  • <strong>PICFX 5-year return</strong> is 3.31%, which is lower than the 5-year return of the benchmark index (Bloomberg Barclays US Aggregate Bond TR USD), 4.32%.
  • <strong>PICFX expense ratio</strong> is 1.61%, 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 PICFX review, we covered PICFX 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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