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15 important things you should know about Invesco VMINX mutual fund

Updated: September 29, 2020
50
Bull Case
  • 3-year return above the benchmark
  • 5-year return above the benchmark
  • 10-year return above the benchmark
Bear Case
  • Low net assets
  • High expense ratio
  • Sales load and/or distribution fees

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

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

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

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

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

The Fund seeks to provide a high level of current income exempt from federal income tax, consistent with preservation of capital by investing at least 80% of its assets in a diversified portfolio of tax-exempt municipal securities rated investment grade at the time of purchase.

2. What are VMINX top holdings?

VMINX has 0 stock holdings and 804 bond holdings.

The top 10 holdings represent 10.63% of total assets. Here are the top holdings:

Name Symbol % Assets
10 Year Treasury Note Future June 20 ZNM0 4.36%
NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 0.04% N/A 1.00%
METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV 4% N/A 0.87%
HARRIS CNTY TEX CULTURAL ED FACS FIN CORP REV 0.05% N/A 0.70%
ROANOKE VA ECONOMIC DEV AUTH HOSP REV 5% N/A 0.69%
BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% N/A 0.64%
TENNESSEE ENERGY ACQUISITION CORP GAS REV 4% N/A 0.62%
CHARLOTTE-MECKLENBERG HOSP AUTH N C HEALTH CARE SYS REV 0.05% N/A 0.59%
LUCAS CNTY OHIO HOSP REV 5.25% N/A 0.59%
OHIO ST HIGHER EDL FAC COMMN REV 0.04% N/A 0.57%

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

VMINX has generated the following returns:

  • 1-month return is -0.34%;
  • 3-month return is 2.41%;
  • 1-year return is 2.64%;
  • 3-year return is 3.86%;
  • 5-year return is 3.84%;
  • 10-year return is 4.20%.

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

In the last 10 years, VMINX had 9 up years and 1 down year.

VMINX up and down years

5. What is VMINX dividend yield?

VMINX yield is 3.65%.

6. What is VMINX minimum initial investment amount?

VMINX minimum initial investment amount is N/A.

7. What is VMINX expense ratio?

VMINX expense ratio is 0.88%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

VMINX expenses

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

VMINX 12b-1 distribution fee is 0.12. VMINX front-end sales load is 0. VMINX back-end sales load is 0.

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

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

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

  • 3-year beta is 1.42;
  • 5-year beta is 1.28;
  • 10-year beta is 1.23;
  • 15-year beta is 1.28.
VMINX Beta

11. What is VMINX Sharpe ratio?

  • 3-year Sharpe ratio is 0.34;
  • 5-year Sharpe ratio is 0.50;
  • 10-year Sharpe ratio is 0.77;
  • 15-year Sharpe ratio is 0.45.
VMINX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 50. Our quantitative analysis shows 3 reasons to buy and 3 reasons to sell it, resulting in the Finny Score of 50.

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

The following are VMINX strengths from our perspective:

  • <strong>VMINX 3-year return</strong> is 3.86%, which is in line with the 3-year return of the benchmark index (S&P Municipal Bond TR), 4.07%.
  • <strong>VMINX 5-year return</strong> is 3.84%, which is in line with the 5-year return of the benchmark index (S&P Municipal Bond TR), 3.93%.
  • <strong>VMINX 10-year return</strong> is 4.2%, which is higher than the 10-year return of the benchmark index (S&P Municipal Bond TR), 4.07%.

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

The following are VMINX weaknesses from our perspective:

  • <strong>VMINX net assets</strong> are $99.30 million. This fund is not a popular choice with retail investors.
  • <strong>VMINX expense ratio</strong> is 0.88%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • Warning: this fund has a 12b1 sales fee. The maximum 12b1 fee is 0.12%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund.
In the VMINX review, we covered VMINX 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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