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15 important things you should know about Invesco VKLCX mutual fund

Updated: September 29, 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
  • 10-year return below the benchmark
  • 15-year return below the benchmark
  • High expense ratio
  • Sales load and/or distribution fees

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

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

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

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

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

The Fund seeks to provide a high level of current income exempt from federal income tax, consistent with preservation of capital. The Fund invests primarily in a portfolio of municipal securities that are rated investment grade, and by seeking to maintain a dollar-weighted average portfolio life of three to ten years.

2. What are VKLCX top holdings?

VKLCX has 0 stock holdings and 703 bond holdings.

The top 10 holdings represent 5.62% of total assets. Here are the top holdings:

Name Symbol % Assets
NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 1% N/A 0.81%
NEW YORK TRANSN DEV CORP SPL FAC REV 5% N/A 0.79%
MICHIGAN FIN AUTH REV 5% N/A 0.65%
NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 4% N/A 0.56%
METROPOLITAN ATLANTA RAPID TRAN AUTH GA SALES TAX REV 5% N/A 0.54%
WHITING IND ENVIRONMENTAL FACS REV 5% N/A 0.51%
CALIFORNIA POLLUTION CTL FING AUTH WTR FURNISHING REV 5% N/A 0.47%
CHICAGO ILL O HARE INTL ARPT REV 5% N/A 0.43%
HARRIS CNTY TEX HEALTH FACS DEV CORP REV 1% N/A 0.43%
PENNSYLVANIA ECONOMIC DEV FING AUTH REV 5% N/A 0.43%

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

VKLCX has generated the following returns:

  • 1-month return is -0.21%;
  • 3-month return is 2.07%;
  • 1-year return is 1.07%;
  • 3-year return is 2.34%;
  • 5-year return is 2.32%;
  • 10-year return is 2.60%;
  • 15-year return is 2.96%.

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

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

VKLCX up and down years

5. What is VKLCX dividend yield?

VKLCX yield is 2.02%.

6. What is VKLCX minimum initial investment amount?

VKLCX minimum initial investment amount is $1.00K.

7. What is VKLCX expense ratio?

VKLCX expense ratio is 1.63%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

VKLCX expenses

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

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

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

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

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

  • 3-year beta is 1.13;
  • 5-year beta is 1.05;
  • 10-year beta is 0.96;
  • 15-year beta is 0.92.
VKLCX Beta

11. What is VKLCX Sharpe ratio?

  • 3-year Sharpe ratio is 0.11;
  • 5-year Sharpe ratio is 0.25;
  • 10-year Sharpe ratio is 0.56;
  • 15-year Sharpe ratio is 0.42.
VKLCX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 0. Our quantitative analysis shows 0 reasons to buy and 7 reasons to sell it, resulting in the Finny Score of 0.

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

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

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

The following are VKLCX weaknesses from our perspective:

  • <strong>VKLCX net assets</strong> are $131.90 million. This fund is not a popular choice with retail investors.
  • <strong>VKLCX 3-year return</strong> is 2.34%, which is lower than the 3-year return of the benchmark index (S&P Municipal Bond TR), 4.07%.
  • <strong>VKLCX 5-year return</strong> is 2.32%, which is lower than the 5-year return of the benchmark index (S&P Municipal Bond TR), 3.93%.
  • <strong>VKLCX 10-year return</strong> is 2.6%, which is lower than the 10-year return of the benchmark index (S&P Municipal Bond TR), 4.07%.
  • <strong>VKLCX 15-year return</strong> is 2.96%, which is lower than the 15-year return of the benchmark index (S&P Municipal Bond TR), 4.28%.
  • <strong>VKLCX expense ratio</strong> is 1.63%, 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 VKLCX review, we covered VKLCX 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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