Invesco Value Municipal Income Trust

Frequently Asked Questions About IIM

What does IIM invest in?

The Invesco Value Municipal Income Trust (IIM) is a closed-end investment vehicle specializing in fixed income, established by Invesco Ltd. Its management responsibilities are shared among multiple Invesco affiliates, including Invesco Advisers, Inc., INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc. The trust's primary objective is to invest in the fixed income markets within the United States. Its portfolio is predominantly composed of investment-grade municipal securities, encompassing municipal bonds, notes, commercial paper, and lease obligations. Investment decisions are guided by a fundamental analysis framework, employing a bottom-up security selection methodology. Formed on February 26, 1993, and domiciled in the United States, the fund was previously known as the Invesco Insured Municipal Income Trust.

What is the expense ratio of IIM?

Invesco Value Municipal Income Trust (IIM) charges an expense ratio of 2.88%. This is the annual fee deducted from fund assets to cover management and operations.

What is IIM's dividend yield?

IIM's trailing-twelve-month yield is 8.24%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of IIM?

Effective duration measures IIM's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. IIM's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of IIM?

IIM's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of IIM?

Yield to maturity (YTM) is the total return you'd earn from IIM if every bond in the portfolio is held to maturity at the current price. IIM's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.