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15 important things you should know about Invesco SMEAX mutual fund

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

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

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

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

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

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

Fact Sheet

1. Describe AIM Funds Group (Invesco Funds Group): Invesco Small Cap Equity Fund; Class A Shares (SMEAX).

The Fund seeks to provide long-term growth of capital by investing primarily in equity securities of companies included in the Russell 2000 Index. These may include common stocks, convertible bonds, convertible securities and warrants.

2. What are SMEAX top holdings?

SMEAX has 91 stock holdings and 0 bond holdings.

The top 10 holdings represent 15.50% of total assets. Here are the top holdings:

Name Symbol % Assets
Iridium Communications Inc IRDM 1.90%
Lumentum Holdings Inc LITE 1.67%
Avalara Inc AVLR 1.63%
NeoGenomics Inc NEO 1.62%
Hill-Rom Holdings Inc HRC 1.49%
Horizon Therapeutics PLC HZNP 1.49%
Neurocrine Biosciences Inc NBIX 1.48%
Encompass Health Corp EHC 1.46%
Ciena Corp CIEN 1.38%
Steris PLC STE 1.38%

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

SMEAX has generated the following returns:

  • 1-month return is -3.75%;
  • 3-month return is 5.97%;
  • 1-year return is 1.55%;
  • 3-year return is 3.32%;
  • 5-year return is 4.98%;
  • 10-year return is 8.75%;
  • 15-year return is 6.82%.

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

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

SMEAX up and down years

5. What is SMEAX dividend yield?

SMEAX yield is 0%.

6. What is SMEAX minimum initial investment amount?

SMEAX minimum initial investment amount is $1.00K.

7. What is SMEAX expense ratio?

SMEAX expense ratio is 1.28%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

SMEAX expenses

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

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

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

  • 1-year ax cost ratio is 2.52%;
  • 3-year ax cost ratio is 2.52%.
SMEAX tax costs

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

  • 3-year beta is 1.24;
  • 5-year beta is 1.24;
  • 10-year beta is 1.25;
  • 15-year beta is 1.16.
SMEAX Beta

11. What is SMEAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.14;
  • 5-year Sharpe ratio is 0.16;
  • 10-year Sharpe ratio is 0.54;
  • 15-year Sharpe ratio is 0.39.
SMEAX 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 SMEAX? What are SMEAX buy reasons?

The following are SMEAX strengths from our perspective:

  • <strong>SMEAX 3-year return</strong> is 3.32%, which is higher than the 3-year return of the benchmark index (Russell 2000 TR USD), 2.35%.
  • <strong>SMEAX 15-year return</strong> is 6.82%, which is in line with the 15-year return of the benchmark index (Russell 2000 TR USD), 7.12%.

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

The following are SMEAX weaknesses from our perspective:

  • <strong>SMEAX net assets</strong> are $496.40 million. This fund is not a popular choice with retail investors.
  • <strong>SMEAX 5-year return</strong> is 4.98%, which is lower than the 5-year return of the benchmark index (Russell 2000 TR USD), 6.54%.
  • <strong>SMEAX 10-year return</strong> is 8.75%, which is lower than the 10-year return of the benchmark index (Russell 2000 TR USD), 9.88%.
  • <strong>SMEAX expense ratio</strong> is 1.28%, 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 SMEAX review, we covered SMEAX 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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