# Invesco Value Municipal Income Trust (IIM): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/iim for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Invesco · Asset class: Bond - Strategy: Actively Managed · Inception: 1993-02-19 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 compos... ## Key Facts | Metric | Value | |---|---| | Price | $11.16 | | Expense Ratio | 2.88% | | Market Value | $525.3M | | NAV | Not on file (no daily NAV for closed-end funds) | | Holdings Count | — | | Distribution Yield (TTM) | 8.29% | | Annual Distribution (TTM) | $0.93 /share | | Distribution Frequency | Monthly | | 52-Week Range | $10.27 – $13.17 | | Beta | 0.79 | ## Latest Distribution - Amount: $0.0771 /share - Ex-date: 2026-10-14 - Pay date: 2026-10-30 ## Frequently Asked Questions ### 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 8.29%, 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. ### Does IIM pay a dividend? Yes, Invesco Value Municipal Income Trust (IIM) distributes dividends to shareholders. The trailing-twelve-month yield is 8.29%. Full dividend history is on this page. ### How often does IIM pay dividends? Invesco Value Municipal Income Trust pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is IIM's next ex-dividend date? The most recently announced ex-dividend date for IIM was 2026-10-14. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will IIM's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 2.88% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does IIM charge its expense ratio? The expense ratio is deducted in tiny daily slices from IIM's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does IIM cost more than a fund like VOO? IIM is actively managed (current expense ratio 2.88%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether IIM's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to IIM? The Lower-Fee Alternatives card above lists closed-end funds following the same investment strategy as IIM (2.88%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/iim - Distribution history: https://www.dividenddata.com/funds/iim/dividend - Holdings & diversification: https://www.dividenddata.com/funds/iim/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/iim/expenses - Peer comparison: https://www.dividenddata.com/funds/iim/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.