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Morningstar

Invesco Intermediate Term Muni Inc A VKLMX

Morningstar Analyst Rating
Analyst rating as of
NAV / 1-Day Return
10.19  /  0.20 %
Total Assets
1.9 Bil
Adj. Expense Ratio
0.740%
Expense Ratio
0.790%
Fee Level
Average
Longest Manager Tenure
7.73 years
Category
Muni National Interm
Credit Quality / Interest Rate Sensitivity
—
Min. Initial Investment
1,000
Status
Open
TTM Yield
2.48%
Effective Duration
5.72 years

USD | NAV as of Nov 28, 2022 | 1-Day Return as of Nov 28, 2022, 10:12 PM GMT+00:00

Morningstar’s Fund Analysis VKLMX

Will VKLMX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VKLMX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the VKLMX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of VKLMX’s parent organization’s priorities and whether they’re in line with investors’ interests.

This large team is still settling in after organizational changes.

Analyst

Summary

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Invesco Intermediate Term Municipal Income is managed by a large and experienced team that leans heavily on the supporting muni credit research group. The team’s resources are adequate for its bold mandate, but the strategy lacks a competitive advantage over peers. It earns a Morningstar Analyst Rating of Neutral across all but the most expensive share class, which is rated Negative.

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