Invesco California Value Municipal Income Trust

Frequently Asked Questions About VCV

What does VCV invest in?

The Invesco California Value Municipal Income Trust is a closed-end investment vehicle established by Invesco Ltd. Its management responsibilities are shared among several Invesco affiliates, specifically 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 primarily allocates capital to investment-grade municipal debt securities originating from California, operating within the broader U.S. fixed-income market. These holdings encompass a range of instruments such as municipal bonds, notes, commercial paper, and lease obligations. Portfolio construction relies on a methodology that integrates fundamental analysis with a bottom-up security selection process. Originally, it operated under the name Invesco Van Kampen California Value Municipal Income Trust. Established in the United States on April 30, 1993, the fund remains domiciled there.

What is the expense ratio of VCV?

Invesco California Value Municipal Income Trust (VCV) charges an expense ratio of 3.60%. This is the annual fee deducted from fund assets to cover management and operations.

What is VCV's dividend yield?

VCV's trailing-twelve-month yield is 7.33%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of VCV?

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

What is the credit quality of VCV?

VCV'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 VCV?

Yield to maturity (YTM) is the total return you'd earn from VCV if every bond in the portfolio is held to maturity at the current price. VCV'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.