Invesco Convertible Securities Fund Q4 2025 Commentary
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Invesco US3.32K FollowersFollow5ShareSavePlay(6min)CommentsSummaryConvertibles returned 1.97% for the fourth quarter, compared to the S&P 500 Index, which returned 2.66%.The fund underperformed its benchmark, primarily due to weaker performance in industrial-related holdings and an underweight in technology.We continue to focus on balanced convertibles that offer both upside participation should their underlying stocks rise, along with downside support via the securities' fixed income attributes.New issuance of US convertibles was robust in the fourth quarter, totaling approximately $36.2 billion as issuers sought less costly financing alternatives.We believe convertibles can provide investors with diversification, offering lower interest rate sensitivity than traditional fixed income and potentially lower volatility than equities. Tippapatt/iStock via Getty Images Key takeaways 1 Convertible securities posted a positive return in a strong equity market Convertibles (as measured by the ICE BofA US Convertible Index) returned 1.97% for the fourth quarter, compared to the S&P 500 Index, which returned 2.66%.This article was written byInvesco US3.32K FollowersFollowInvesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.Be the first to know! Sign up for Invesco US Blog and get expert investment views as they post.Disclosure for all Invesco US articles: Before investing, carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. The information provided is for educational purposes only and does not constitute a recommendation of the suitability of any investment strategy for a particular investor. Invesco does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Federal and state tax laws are complex and constantly changing. Investors should always consult their own legal or tax professional for information concerning their individual situation. The opinions expressed are those of the authors, are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals. NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE All data provided by Invesco unless otherwise noted. Invesco Distributors, Inc. is the US distributor for Invesco Ltd.’s retail products and collective trust funds. Invesco Advisers, Inc. and other affiliated investment advisers mentioned provide investment advisory services and do not sell securities.
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