Important risk disclosure

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LU2471134952

Invesco Global Equity Income Advantage Fund RMB-Hedged (Dist.)(LU2471134952)

Equities
Global
CNY Cash
Distributing

Invest with

CNY Cash

Payout type

Distributing

Risk rating

About this fund

Description

The Fund invests primarily in a diversified portfolio of global equity securities and equity-linked notes (ELNs) designed to generate high income while providing downside protection as well as equity market upside participation.

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

The fund aims to generate income and long-term capital growth by investing primarily in a diversified portfolio of global equity securities and an option income strategy implemented with equity-linked notes (ELNs). The option income strategy is designed to generate high income while providing downside protection and equity market upside participation. The fund's investment process focuses on maintaining highly diversified global equity market exposure and aims to deliver a consistent yield of 2% to 4% above the MSCI ACWI index dividend yield.

People

The fund is managed by the Invesco Global Asset Allocation Team, also known as the IGAA Team. The team takes a team-based approach to investment management and consists of Chief Investment Officer (CIO) Scott Wolle as the Lead Portfolio Manager, along with several Co-Portfolio Managers. They make all decisions regarding portfolio positions collectively.

Performance

Since its inception in 2022, the fund has delivered a comparable performance to the MSCI ACWI with a dividend yield that is higher. In strong equity markets, the fund is likely to lag the broad global equity index because of the option income component.

Process

The strategy has two main objectives: 1. offer a consistent yield of 2% to 4% above the MSCI ACWI index dividend yield, distributed monthly and 2. deliver upside participation in the markets while incorporating some structural downside protection. The strategy intends to achieve its income target by investing in a portfolio of globally diversified stocks and equity index options held within a diversified basket of laddered short-term ELNs that offer both income and hedged exposure to the S&P 500, MSCI EAFE (Europe, Australasia and For East) and MSCI Emerging Markets indices.

Cost

Endowus offers the clean share classes with no trailer fees to achieve the lowest possible access.

How it fits in a portfolio

Investors looking for a consistent dividend income stream while having a broad equity market exposure can consider an allocation to this fund. Investors should remain mindful that the Fund is an equity strategy and will likely experience periods of heightened volatility and drawdowns. In addition, the fund gets a sizable portion of its income from option call writing strategies and can underperform during strong bull markets. Investors should ensure that they construct their portfolio to build more diversity and avoid concentration risks. A longer track record for the strategy can be found on Invesco's fund page: https://www.invesco.com/hk/en/mutual-funds/invesco-global-equity-income-advantage-fund-a-usd-md1.html

Invest in this fund

Performance

Returns

NAV

Shows the total return of this distributing fund, which includes dividends paid out.

Total returns

Cumulative

Annualised

All Time

34.35%

YTD

-5.38%

1 month

-7.67%

6 month

-2.79%

1 year

11.51%

3 year

34.16%

As of Mar 2026

Distributions

8.31%

Frequency

Monthly

01 Apr 2026

Risk metrics

Max drawdown

-10.49%As of Mar 2026

Volatility

10.63%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	1.7%	0.8%	-7.7%	-	-	-	-	-	-	-	-	-
2025	14.7%	2.7%	-1.9%	-3.4%	1.5%	5.0%	3.1%	1.7%	0.5%	2.0%	1.6%	-0.8%	1.9%
2024	13.1%	2.0%	1.9%	2.6%	-1.6%	1.6%	2.4%	0.4%	1.7%	1.4%	-0.9%	2.4%	-1.4%
2023	13.9%	4.3%	-0.9%	0.8%	1.0%	0.4%	3.2%	2.7%	-2.0%	-2.6%	-3.0%	6.3%	3.3%
2022	-	-	-	-	-	-	-	0.0%	-2.6%	-8.1%	5.1%	3.9%	-1.6%

Top Exposures

Holdings

Regions

Sectors

NVIDIA Corp	4.67%
Invesco US Dollar Liqdty Port Agency	4.38%
Apple Inc	3.79%
Alphabet Inc Class A	3.32%
Microsoft Corp	3.15%
Invesco MSCI Em Mkts Unvsl Scrnd ETF	2.51%
Taiwan Semiconductor Manufacturing Co Ltd	1.44%
Broadcom Inc	1.42%
Tesla Inc	1.01%
The Toronto-Dominion Bank	0.73%
Micron Technology Inc	0.70%
Bank of New York Mellon Corp	0.66%
Novartis AG Registered Shares	0.61%
Visa Inc Class A	0.58%
Booking Holdings Inc	0.58%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.60%0.98% p.a.

Save 38%

Fund facts

ISIN

LU2471134952

Fund house

Invesco

Fund size

CN¥333.1M

As of 22 Apr 2026

Fund inception date

05 Jul 2022

Fund class currency

CNY

Fund share class

A(RMB Hgd)-MD1 Shares

Oldest share class ISIN

LU2471134796

Oldest share inception date

05 Jul 2022

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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