UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number
811-07890
(Exact name of registrant as specified in charter)
11 Greenway Plaza, Suite 1000 Houston, Texas 77046
(Address of principal executive offices) (Zip code)
Glenn Brightman, Principal Executive Officer
11 Greenway Plaza, Suite 1000
Houston, Texas 77046
(Name and address of agent for service)
Registrant's telephone number, including area code:
(713) 626-1919
Date of fiscal year end:
February 28
Date of reporting period:
Item 1. Reports to Stockholders
(a) The Registrant's semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco AMT-Free Municipal Income Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Los Angeles (City of), CA Department of Water & Power, Series 2022, RB, 5.00%, 07/01/2042 | |
| Washington Metropolitan Area Transit Authority, Series 2020 A, RB, 4.00%, 07/15/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 B, RB, 0.00%, 06/01/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 F, RB, 0.00%, 06/01/2057 | |
| Illinois (State of) Toll Highway Authority, Series 2020 A, RB, 5.00%, 01/01/2045 | |
| Massachusetts (Commonwealth of), Series 2016-XF0530, Ctfs. Of Obligation, 5.00%, 12/01/2035 | |
| Wisconsin (State of) Health & Educational Facilities Authority, Series 2018 XF2541, Revenue Ctfs., 4.00%, 11/15/2034 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 | |
| Illinois (State of) Regional Transportation Authority, Series 2018 XF2618, Revenue Ctfs., 4.00%, 06/01/2043 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco AMT-Free Municipal Income Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Los Angeles (City of), CA Department of Water & Power, Series 2022, RB, 5.00%, 07/01/2042 | |
| Washington Metropolitan Area Transit Authority, Series 2020 A, RB, 4.00%, 07/15/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 B, RB, 0.00%, 06/01/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 F, RB, 0.00%, 06/01/2057 | |
| Illinois (State of) Toll Highway Authority, Series 2020 A, RB, 5.00%, 01/01/2045 | |
| Massachusetts (Commonwealth of), Series 2016-XF0530, Ctfs. Of Obligation, 5.00%, 12/01/2035 | |
| Wisconsin (State of) Health & Educational Facilities Authority, Series 2018 XF2541, Revenue Ctfs., 4.00%, 11/15/2034 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 | |
| Illinois (State of) Regional Transportation Authority, Series 2018 XF2618, Revenue Ctfs., 4.00%, 06/01/2043 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco AMT-Free Municipal Income Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Los Angeles (City of), CA Department of Water & Power, Series 2022, RB, 5.00%, 07/01/2042 | |
| Washington Metropolitan Area Transit Authority, Series 2020 A, RB, 4.00%, 07/15/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 B, RB, 0.00%, 06/01/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 F, RB, 0.00%, 06/01/2057 | |
| Illinois (State of) Toll Highway Authority, Series 2020 A, RB, 5.00%, 01/01/2045 | |
| Massachusetts (Commonwealth of), Series 2016-XF0530, Ctfs. Of Obligation, 5.00%, 12/01/2035 | |
| Wisconsin (State of) Health & Educational Facilities Authority, Series 2018 XF2541, Revenue Ctfs., 4.00%, 11/15/2034 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 | |
| Illinois (State of) Regional Transportation Authority, Series 2018 XF2618, Revenue Ctfs., 4.00%, 06/01/2043 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco AMT-Free Municipal Income Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Los Angeles (City of), CA Department of Water & Power, Series 2022, RB, 5.00%, 07/01/2042 | |
| Washington Metropolitan Area Transit Authority, Series 2020 A, RB, 4.00%, 07/15/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 B, RB, 0.00%, 06/01/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 F, RB, 0.00%, 06/01/2057 | |
| Illinois (State of) Toll Highway Authority, Series 2020 A, RB, 5.00%, 01/01/2045 | |
| Massachusetts (Commonwealth of), Series 2016-XF0530, Ctfs. Of Obligation, 5.00%, 12/01/2035 | |
| Wisconsin (State of) Health & Educational Facilities Authority, Series 2018 XF2541, Revenue Ctfs., 4.00%, 11/15/2034 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 | |
| Illinois (State of) Regional Transportation Authority, Series 2018 XF2618, Revenue Ctfs., 4.00%, 06/01/2043 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco California Municipal Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Los Angeles (City of), CA Department of Water & Power, Series 2021, RB, 5.00%, 07/01/2051 | |
| California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.), Series 2006 C, RB, 0.00%, 06/01/2055 | |
| Regents of the University of California Medical Center, Series 2022 P, RB, 5.00%, 05/15/2047 | |
| California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding Corp.), Series 2006 D, RB, 0.00%, 06/01/2055 | |
| Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2019, RB, 5.00%, 05/15/2049 | |
| California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center), Series 2021 A, Ref. RB, 4.00%, 08/15/2048 | |
| San Diego (County of), CA Regional Airport Authority, Series 2021 B, RB, 5.00%, 07/01/2056 | |
| North Orange (County of), CA Community College District, Series 2022 C, GO Bonds, 4.00%, 08/01/2047 | |
| California (State of) Health Facilities Financing Authority (Sutter Health), Series 2016 B, Ref. RB, 5.00%, 11/15/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco California Municipal Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Los Angeles (City of), CA Department of Water & Power, Series 2021, RB, 5.00%, 07/01/2051 | |
| California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.), Series 2006 C, RB, 0.00%, 06/01/2055 | |
| Regents of the University of California Medical Center, Series 2022 P, RB, 5.00%, 05/15/2047 | |
| California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding Corp.), Series 2006 D, RB, 0.00%, 06/01/2055 | |
| Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2019, RB, 5.00%, 05/15/2049 | |
| California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center), Series 2021 A, Ref. RB, 4.00%, 08/15/2048 | |
| San Diego (County of), CA Regional Airport Authority, Series 2021 B, RB, 5.00%, 07/01/2056 | |
| North Orange (County of), CA Community College District, Series 2022 C, GO Bonds, 4.00%, 08/01/2047 | |
| California (State of) Health Facilities Financing Authority (Sutter Health), Series 2016 B, Ref. RB, 5.00%, 11/15/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco California Municipal Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Los Angeles (City of), CA Department of Water & Power, Series 2021, RB, 5.00%, 07/01/2051 | |
| California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.), Series 2006 C, RB, 0.00%, 06/01/2055 | |
| Regents of the University of California Medical Center, Series 2022 P, RB, 5.00%, 05/15/2047 | |
| California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding Corp.), Series 2006 D, RB, 0.00%, 06/01/2055 | |
| Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2019, RB, 5.00%, 05/15/2049 | |
| California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center), Series 2021 A, Ref. RB, 4.00%, 08/15/2048 | |
| San Diego (County of), CA Regional Airport Authority, Series 2021 B, RB, 5.00%, 07/01/2056 | |
| North Orange (County of), CA Community College District, Series 2022 C, GO Bonds, 4.00%, 08/01/2047 | |
| California (State of) Health Facilities Financing Authority (Sutter Health), Series 2016 B, Ref. RB, 5.00%, 11/15/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco California Municipal Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Los Angeles (City of), CA Department of Water & Power, Series 2021, RB, 5.00%, 07/01/2051 | |
| California (State of) County Tobacco Securitization Agency (Alameda County Tobacco Asset Securitization Corp.), Series 2006 C, RB, 0.00%, 06/01/2055 | |
| Regents of the University of California Medical Center, Series 2022 P, RB, 5.00%, 05/15/2047 | |
| California (State of) County Tobacco Securitization Agency (Fresno County Tobacco Funding Corp.), Series 2006 D, RB, 0.00%, 06/01/2055 | |
| Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2019, RB, 5.00%, 05/15/2049 | |
| California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center), Series 2021 A, Ref. RB, 4.00%, 08/15/2048 | |
| San Diego (County of), CA Regional Airport Authority, Series 2021 B, RB, 5.00%, 07/01/2056 | |
| North Orange (County of), CA Community College District, Series 2022 C, GO Bonds, 4.00%, 08/01/2047 | |
| California (State of) Health Facilities Financing Authority (Sutter Health), Series 2016 B, Ref. RB, 5.00%, 11/15/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Environmental Focus Municipal Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| District of Columbia (Green Bonds), Series 2022 A, RB, 5.50%, 08/31/2034 | |
| Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center), Series 2017, Ref. RB, 5.00%, 08/15/2035 | |
| Geisinger Authority (Geisinger Health System), Series 2020, Ref. RB, 4.00%, 04/01/2050 | |
| Wisconsin (State of) Public Finance Authority (Green Bonds), Series 2021, RB, 4.00%, 09/30/2051 | |
| New Orleans (City of), LA, Series 2020 B, RB, 5.00%, 06/01/2045 | |
| Metropolitan Transportation Authority (Green Bonds), Series 2020 C-1, RB, 5.25%, 11/15/2055 | |
| Maryland Economic Development Corp. (Green Bonds), Series 2022, RB, 5.25%, 06/30/2052 | |
| Washington (State of) Economic Development Finance Authority (Green Bonds), Series 2020 A, RB, 5.63%, 12/01/2040 | |
| New York (State of) Housing Finance Agency (Sustainability Bonds), Series 2021 D-1, RB, 2.65%, 11/01/2051 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Environmental Focus Municipal Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| District of Columbia (Green Bonds), Series 2022 A, RB, 5.50%, 08/31/2034 | |
| Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center), Series 2017, Ref. RB, 5.00%, 08/15/2035 | |
| Geisinger Authority (Geisinger Health System), Series 2020, Ref. RB, 4.00%, 04/01/2050 | |
| Wisconsin (State of) Public Finance Authority (Green Bonds), Series 2021, RB, 4.00%, 09/30/2051 | |
| New Orleans (City of), LA, Series 2020 B, RB, 5.00%, 06/01/2045 | |
| Metropolitan Transportation Authority (Green Bonds), Series 2020 C-1, RB, 5.25%, 11/15/2055 | |
| Maryland Economic Development Corp. (Green Bonds), Series 2022, RB, 5.25%, 06/30/2052 | |
| Washington (State of) Economic Development Finance Authority (Green Bonds), Series 2020 A, RB, 5.63%, 12/01/2040 | |
| New York (State of) Housing Finance Agency (Sustainability Bonds), Series 2021 D-1, RB, 2.65%, 11/01/2051 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Environmental Focus Municipal Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| District of Columbia (Green Bonds), Series 2022 A, RB, 5.50%, 08/31/2034 | |
| Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center), Series 2017, Ref. RB, 5.00%, 08/15/2035 | |
| Geisinger Authority (Geisinger Health System), Series 2020, Ref. RB, 4.00%, 04/01/2050 | |
| Wisconsin (State of) Public Finance Authority (Green Bonds), Series 2021, RB, 4.00%, 09/30/2051 | |
| New Orleans (City of), LA, Series 2020 B, RB, 5.00%, 06/01/2045 | |
| Metropolitan Transportation Authority (Green Bonds), Series 2020 C-1, RB, 5.25%, 11/15/2055 | |
| Maryland Economic Development Corp. (Green Bonds), Series 2022, RB, 5.25%, 06/30/2052 | |
| Washington (State of) Economic Development Finance Authority (Green Bonds), Series 2020 A, RB, 5.63%, 12/01/2040 | |
| New York (State of) Housing Finance Agency (Sustainability Bonds), Series 2021 D-1, RB, 2.65%, 11/01/2051 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Environmental Focus Municipal Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| District of Columbia (Green Bonds), Series 2022 A, RB, 5.50%, 08/31/2034 | |
| Washington (State of) Health Care Facilities Authority (Virginia Mason Medical Center), Series 2017, Ref. RB, 5.00%, 08/15/2035 | |
| Geisinger Authority (Geisinger Health System), Series 2020, Ref. RB, 4.00%, 04/01/2050 | |
| Wisconsin (State of) Public Finance Authority (Green Bonds), Series 2021, RB, 4.00%, 09/30/2051 | |
| New Orleans (City of), LA, Series 2020 B, RB, 5.00%, 06/01/2045 | |
| Metropolitan Transportation Authority (Green Bonds), Series 2020 C-1, RB, 5.25%, 11/15/2055 | |
| Maryland Economic Development Corp. (Green Bonds), Series 2022, RB, 5.25%, 06/30/2052 | |
| Washington (State of) Economic Development Finance Authority (Green Bonds), Series 2020 A, RB, 5.63%, 12/01/2040 | |
| New York (State of) Housing Finance Agency (Sustainability Bonds), Series 2021 D-1, RB, 2.65%, 11/01/2051 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco High Yield Municipal Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2005 A, RB, 0.00%, 05/15/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 C-1, RB, 0.00%, 06/01/2036 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Chicago (City of), IL, Series 2017 A, Ref. GO Bonds, 6.00%, 01/01/2038 | |
| Iowa (State of) Tobacco Settlement Authority, Series 2021 B-2, Ref. RB, 0.00%, 06/01/2065 | |
| Nassau County Tobacco Settlement Corp., Series 2006 A-3, RB, 5.13%, 06/01/2046 | |
| Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities), Series 2017 A, RB, 7.00%, 06/01/2046 | |
| Golden State Tobacco Securitization Corp., Series 2021 B-2, Ref. RB, 0.00%, 06/01/2066 | |
| Children's Trust Fund, Series 2008 B, RB, 0.00%, 05/15/2057 | |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program), Series 2006 A, RB, 0.00%, 06/01/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco High Yield Municipal Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2005 A, RB, 0.00%, 05/15/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 C-1, RB, 0.00%, 06/01/2036 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Chicago (City of), IL, Series 2017 A, Ref. GO Bonds, 6.00%, 01/01/2038 | |
| Iowa (State of) Tobacco Settlement Authority, Series 2021 B-2, Ref. RB, 0.00%, 06/01/2065 | |
| Nassau County Tobacco Settlement Corp., Series 2006 A-3, RB, 5.13%, 06/01/2046 | |
| Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities), Series 2017 A, RB, 7.00%, 06/01/2046 | |
| Golden State Tobacco Securitization Corp., Series 2021 B-2, Ref. RB, 0.00%, 06/01/2066 | |
| Children's Trust Fund, Series 2008 B, RB, 0.00%, 05/15/2057 | |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program), Series 2006 A, RB, 0.00%, 06/01/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco High Yield Municipal Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2005 A, RB, 0.00%, 05/15/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 C-1, RB, 0.00%, 06/01/2036 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Chicago (City of), IL, Series 2017 A, Ref. GO Bonds, 6.00%, 01/01/2038 | |
| Iowa (State of) Tobacco Settlement Authority, Series 2021 B-2, Ref. RB, 0.00%, 06/01/2065 | |
| Nassau County Tobacco Settlement Corp., Series 2006 A-3, RB, 5.13%, 06/01/2046 | |
| Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities), Series 2017 A, RB, 7.00%, 06/01/2046 | |
| Golden State Tobacco Securitization Corp., Series 2021 B-2, Ref. RB, 0.00%, 06/01/2066 | |
| Children's Trust Fund, Series 2008 B, RB, 0.00%, 05/15/2057 | |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program), Series 2006 A, RB, 0.00%, 06/01/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco High Yield Municipal Fund (Class R5) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2005 A, RB, 0.00%, 05/15/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 C-1, RB, 0.00%, 06/01/2036 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Chicago (City of), IL, Series 2017 A, Ref. GO Bonds, 6.00%, 01/01/2038 | |
| Iowa (State of) Tobacco Settlement Authority, Series 2021 B-2, Ref. RB, 0.00%, 06/01/2065 | |
| Nassau County Tobacco Settlement Corp., Series 2006 A-3, RB, 5.13%, 06/01/2046 | |
| Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities), Series 2017 A, RB, 7.00%, 06/01/2046 | |
| Golden State Tobacco Securitization Corp., Series 2021 B-2, Ref. RB, 0.00%, 06/01/2066 | |
| Children's Trust Fund, Series 2008 B, RB, 0.00%, 05/15/2057 | |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program), Series 2006 A, RB, 0.00%, 06/01/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco High Yield Municipal Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2005 A, RB, 0.00%, 05/15/2050 | |
| Inland Empire Tobacco Securitization Corp., Series 2007 C-1, RB, 0.00%, 06/01/2036 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Chicago (City of), IL, Series 2017 A, Ref. GO Bonds, 6.00%, 01/01/2038 | |
| Iowa (State of) Tobacco Settlement Authority, Series 2021 B-2, Ref. RB, 0.00%, 06/01/2065 | |
| Nassau County Tobacco Settlement Corp., Series 2006 A-3, RB, 5.13%, 06/01/2046 | |
| Westchester (County of), NY Industrial Development Agency (Million Air Two LLC General Aviation Facilities), Series 2017 A, RB, 7.00%, 06/01/2046 | |
| Golden State Tobacco Securitization Corp., Series 2021 B-2, Ref. RB, 0.00%, 06/01/2066 | |
| Children's Trust Fund, Series 2008 B, RB, 0.00%, 05/15/2057 | |
| California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program), Series 2006 A, RB, 0.00%, 06/01/2046 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Intermediate Term Municipal Income Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York Transportation Development Corp. (American Airlines, Inc.), Series 2016, Ref. RB, 5.00%, 08/01/2031 | |
| Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB, 0.00%, 07/01/2029 | |
| Miami-Dade (County of), FL, Series 2017 B, Ref. RB, 4.00%, 10/01/2036 | |
| Houston (City of), TX Airport System (United Airlines, Inc.), Series 2021 B-1, RB, 4.00%, 07/15/2041 | |
| Broward (County of), FL (Convention Center Expansion), Series 2021, RB, 4.00%, 09/01/2037 | |
| California (State of) Housing Finance Agency, Series 2019 A-2, RB, 4.00%, 03/20/2033 | |
| Tobacco Settlement Financing Corp., Series 2015 A, Ref. RB, 5.00%, 06/01/2035 | |
| Cape Coral (City of), FL, Series 2017, Ref. RB, 4.00%, 10/01/2042 | |
| New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.), Series 2012, RB, 5.75%, 09/15/2027 | |
| New York (State of) Dormitory Authority, Series 2022 A, Ref. RB, 4.00%, 03/15/2040 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Intermediate Term Municipal Income Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York Transportation Development Corp. (American Airlines, Inc.), Series 2016, Ref. RB, 5.00%, 08/01/2031 | |
| Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB, 0.00%, 07/01/2029 | |
| Miami-Dade (County of), FL, Series 2017 B, Ref. RB, 4.00%, 10/01/2036 | |
| Houston (City of), TX Airport System (United Airlines, Inc.), Series 2021 B-1, RB, 4.00%, 07/15/2041 | |
| Broward (County of), FL (Convention Center Expansion), Series 2021, RB, 4.00%, 09/01/2037 | |
| California (State of) Housing Finance Agency, Series 2019 A-2, RB, 4.00%, 03/20/2033 | |
| Tobacco Settlement Financing Corp., Series 2015 A, Ref. RB, 5.00%, 06/01/2035 | |
| Cape Coral (City of), FL, Series 2017, Ref. RB, 4.00%, 10/01/2042 | |
| New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.), Series 2012, RB, 5.75%, 09/15/2027 | |
| New York (State of) Dormitory Authority, Series 2022 A, Ref. RB, 4.00%, 03/15/2040 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Intermediate Term Municipal Income Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York Transportation Development Corp. (American Airlines, Inc.), Series 2016, Ref. RB, 5.00%, 08/01/2031 | |
| Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB, 0.00%, 07/01/2029 | |
| Miami-Dade (County of), FL, Series 2017 B, Ref. RB, 4.00%, 10/01/2036 | |
| Houston (City of), TX Airport System (United Airlines, Inc.), Series 2021 B-1, RB, 4.00%, 07/15/2041 | |
| Broward (County of), FL (Convention Center Expansion), Series 2021, RB, 4.00%, 09/01/2037 | |
| California (State of) Housing Finance Agency, Series 2019 A-2, RB, 4.00%, 03/20/2033 | |
| Tobacco Settlement Financing Corp., Series 2015 A, Ref. RB, 5.00%, 06/01/2035 | |
| Cape Coral (City of), FL, Series 2017, Ref. RB, 4.00%, 10/01/2042 | |
| New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.), Series 2012, RB, 5.75%, 09/15/2027 | |
| New York (State of) Dormitory Authority, Series 2022 A, Ref. RB, 4.00%, 03/15/2040 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Intermediate Term Municipal Income Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York Transportation Development Corp. (American Airlines, Inc.), Series 2016, Ref. RB, 5.00%, 08/01/2031 | |
| Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB, 0.00%, 07/01/2029 | |
| Miami-Dade (County of), FL, Series 2017 B, Ref. RB, 4.00%, 10/01/2036 | |
| Houston (City of), TX Airport System (United Airlines, Inc.), Series 2021 B-1, RB, 4.00%, 07/15/2041 | |
| Broward (County of), FL (Convention Center Expansion), Series 2021, RB, 4.00%, 09/01/2037 | |
| California (State of) Housing Finance Agency, Series 2019 A-2, RB, 4.00%, 03/20/2033 | |
| Tobacco Settlement Financing Corp., Series 2015 A, Ref. RB, 5.00%, 06/01/2035 | |
| Cape Coral (City of), FL, Series 2017, Ref. RB, 4.00%, 10/01/2042 | |
| New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.), Series 2012, RB, 5.75%, 09/15/2027 | |
| New York (State of) Dormitory Authority, Series 2022 A, Ref. RB, 4.00%, 03/15/2040 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term California Municipal Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Los Angeles (City of), CA Department of Airports, Series 2017, Sub. RB, 5.00%, 05/15/2041 | |
| California (State of) Public Finance Authority (California University of Science and Medicine), Series 2019 A, RB, 6.25%, 07/01/2054 | |
| Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.), Series 2019, Ref. RB, 5.00%, 06/01/2048 | |
| California (State of) Health Facilities Financing Authority (City of Hope), Series 2012 A, RB, 5.00%, 11/15/2035 | |
| Southern California Public Power Authority (Clean Energy), Series 2024 A, RB, 5.00%, 09/01/2030 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2016 B, RB, 5.00%, 05/01/2041 | |
| California (State of) Pollution Control Financing Authority (Plant Bonds), Series 2012, RB, 5.00%, 11/21/2045 | |
| Roseville Joint Union High School District (Election of 2016), Series 2017 A, GO Bonds, 4.00%, 08/01/2045 | |
| Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2018 D, Ref. RB, 5.00%, 05/15/2030 | |
| California (State of) Public Works Board (Various Correctional Facilities), Series 2014 A, RB, 5.00%, 09/01/2034 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term California Municipal Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Los Angeles (City of), CA Department of Airports, Series 2017, Sub. RB, 5.00%, 05/15/2041 | |
| California (State of) Public Finance Authority (California University of Science and Medicine), Series 2019 A, RB, 6.25%, 07/01/2054 | |
| Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.), Series 2019, Ref. RB, 5.00%, 06/01/2048 | |
| California (State of) Health Facilities Financing Authority (City of Hope), Series 2012 A, RB, 5.00%, 11/15/2035 | |
| Southern California Public Power Authority (Clean Energy), Series 2024 A, RB, 5.00%, 09/01/2030 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2016 B, RB, 5.00%, 05/01/2041 | |
| California (State of) Pollution Control Financing Authority (Plant Bonds), Series 2012, RB, 5.00%, 11/21/2045 | |
| Roseville Joint Union High School District (Election of 2016), Series 2017 A, GO Bonds, 4.00%, 08/01/2045 | |
| Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2018 D, Ref. RB, 5.00%, 05/15/2030 | |
| California (State of) Public Works Board (Various Correctional Facilities), Series 2014 A, RB, 5.00%, 09/01/2034 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term California Municipal Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Los Angeles (City of), CA Department of Airports, Series 2017, Sub. RB, 5.00%, 05/15/2041 | |
| California (State of) Public Finance Authority (California University of Science and Medicine), Series 2019 A, RB, 6.25%, 07/01/2054 | |
| Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.), Series 2019, Ref. RB, 5.00%, 06/01/2048 | |
| California (State of) Health Facilities Financing Authority (City of Hope), Series 2012 A, RB, 5.00%, 11/15/2035 | |
| Southern California Public Power Authority (Clean Energy), Series 2024 A, RB, 5.00%, 09/01/2030 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2016 B, RB, 5.00%, 05/01/2041 | |
| California (State of) Pollution Control Financing Authority (Plant Bonds), Series 2012, RB, 5.00%, 11/21/2045 | |
| Roseville Joint Union High School District (Election of 2016), Series 2017 A, GO Bonds, 4.00%, 08/01/2045 | |
| Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2018 D, Ref. RB, 5.00%, 05/15/2030 | |
| California (State of) Public Works Board (Various Correctional Facilities), Series 2014 A, RB, 5.00%, 09/01/2034 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term California Municipal Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Los Angeles (City of), CA Department of Airports, Series 2017, Sub. RB, 5.00%, 05/15/2041 | |
| California (State of) Public Finance Authority (California University of Science and Medicine), Series 2019 A, RB, 6.25%, 07/01/2054 | |
| Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.), Series 2019, Ref. RB, 5.00%, 06/01/2048 | |
| California (State of) Health Facilities Financing Authority (City of Hope), Series 2012 A, RB, 5.00%, 11/15/2035 | |
| Southern California Public Power Authority (Clean Energy), Series 2024 A, RB, 5.00%, 09/01/2030 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2016 B, RB, 5.00%, 05/01/2041 | |
| California (State of) Pollution Control Financing Authority (Plant Bonds), Series 2012, RB, 5.00%, 11/21/2045 | |
| Roseville Joint Union High School District (Election of 2016), Series 2017 A, GO Bonds, 4.00%, 08/01/2045 | |
| Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2018 D, Ref. RB, 5.00%, 05/15/2030 | |
| California (State of) Public Works Board (Various Correctional Facilities), Series 2014 A, RB, 5.00%, 09/01/2034 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term Municipal Income Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB, 5.00%, 10/01/2042 | |
| Texas (State of), Series 2015, Ref. GO Bonds, 5.00%, 10/01/2036 | |
| Main Street Natural Gas, Inc., Series 2021 A, RB, 4.00%, 09/01/2027 | |
| Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt University Medical Center), Series 2016 A, RB, 5.00%, 07/01/2035 | |
| Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System), Series 2016 A, Ref. RB, 5.00%, 02/15/2041 | |
| Atlanta (City of), GA, Series 2015, Ref. RB, 5.00%, 11/01/2040 | |
| Houston (City of), TX, Series 2015 A, Ref. RB, 5.00%, 11/15/2036 | |
| PEFA, Inc., Series 2019, RB, 5.00%, 09/01/2026 | |
| Kansas (State of) Development Finance Authority, Series 2021, Ref. RB, 5.00%, 11/15/2031 | |
| Energy Northwest (Columbia Generating Station), Series 2022, Ref. RB, 5.00%, 07/01/2033 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term Municipal Income Fund (Class A2) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB, 5.00%, 10/01/2042 | |
| Texas (State of), Series 2015, Ref. GO Bonds, 5.00%, 10/01/2036 | |
| Main Street Natural Gas, Inc., Series 2021 A, RB, 4.00%, 09/01/2027 | |
| Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt University Medical Center), Series 2016 A, RB, 5.00%, 07/01/2035 | |
| Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System), Series 2016 A, Ref. RB, 5.00%, 02/15/2041 | |
| Atlanta (City of), GA, Series 2015, Ref. RB, 5.00%, 11/01/2040 | |
| Houston (City of), TX, Series 2015 A, Ref. RB, 5.00%, 11/15/2036 | |
| PEFA, Inc., Series 2019, RB, 5.00%, 09/01/2026 | |
| Kansas (State of) Development Finance Authority, Series 2021, Ref. RB, 5.00%, 11/15/2031 | |
| Energy Northwest (Columbia Generating Station), Series 2022, Ref. RB, 5.00%, 07/01/2033 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term Municipal Income Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB, 5.00%, 10/01/2042 | |
| Texas (State of), Series 2015, Ref. GO Bonds, 5.00%, 10/01/2036 | |
| Main Street Natural Gas, Inc., Series 2021 A, RB, 4.00%, 09/01/2027 | |
| Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt University Medical Center), Series 2016 A, RB, 5.00%, 07/01/2035 | |
| Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System), Series 2016 A, Ref. RB, 5.00%, 02/15/2041 | |
| Atlanta (City of), GA, Series 2015, Ref. RB, 5.00%, 11/01/2040 | |
| Houston (City of), TX, Series 2015 A, Ref. RB, 5.00%, 11/15/2036 | |
| PEFA, Inc., Series 2019, RB, 5.00%, 09/01/2026 | |
| Kansas (State of) Development Finance Authority, Series 2021, Ref. RB, 5.00%, 11/15/2031 | |
| Energy Northwest (Columbia Generating Station), Series 2022, Ref. RB, 5.00%, 07/01/2033 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term Municipal Income Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB, 5.00%, 10/01/2042 | |
| Texas (State of), Series 2015, Ref. GO Bonds, 5.00%, 10/01/2036 | |
| Main Street Natural Gas, Inc., Series 2021 A, RB, 4.00%, 09/01/2027 | |
| Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt University Medical Center), Series 2016 A, RB, 5.00%, 07/01/2035 | |
| Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System), Series 2016 A, Ref. RB, 5.00%, 02/15/2041 | |
| Atlanta (City of), GA, Series 2015, Ref. RB, 5.00%, 11/01/2040 | |
| Houston (City of), TX, Series 2015 A, Ref. RB, 5.00%, 11/15/2036 | |
| PEFA, Inc., Series 2019, RB, 5.00%, 09/01/2026 | |
| Kansas (State of) Development Finance Authority, Series 2021, Ref. RB, 5.00%, 11/15/2031 | |
| Energy Northwest (Columbia Generating Station), Series 2022, Ref. RB, 5.00%, 07/01/2033 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term Municipal Income Fund (Class R5) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB, 5.00%, 10/01/2042 | |
| Texas (State of), Series 2015, Ref. GO Bonds, 5.00%, 10/01/2036 | |
| Main Street Natural Gas, Inc., Series 2021 A, RB, 4.00%, 09/01/2027 | |
| Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt University Medical Center), Series 2016 A, RB, 5.00%, 07/01/2035 | |
| Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System), Series 2016 A, Ref. RB, 5.00%, 02/15/2041 | |
| Atlanta (City of), GA, Series 2015, Ref. RB, 5.00%, 11/01/2040 | |
| Houston (City of), TX, Series 2015 A, Ref. RB, 5.00%, 11/15/2036 | |
| PEFA, Inc., Series 2019, RB, 5.00%, 09/01/2026 | |
| Kansas (State of) Development Finance Authority, Series 2021, Ref. RB, 5.00%, 11/15/2031 | |
| Energy Northwest (Columbia Generating Station), Series 2022, Ref. RB, 5.00%, 07/01/2033 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Limited Term Municipal Income Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Washington (State of) Health Care Facilities Authority (Providence Health & Services), Series 2012 A, RB, 5.00%, 10/01/2042 | |
| Texas (State of), Series 2015, Ref. GO Bonds, 5.00%, 10/01/2036 | |
| Main Street Natural Gas, Inc., Series 2021 A, RB, 4.00%, 09/01/2027 | |
| Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt University Medical Center), Series 2016 A, RB, 5.00%, 07/01/2035 | |
| Tarrant County Cultural Education Facilities Finance Corp. (Texas Health Resources System), Series 2016 A, Ref. RB, 5.00%, 02/15/2041 | |
| Atlanta (City of), GA, Series 2015, Ref. RB, 5.00%, 11/01/2040 | |
| Houston (City of), TX, Series 2015 A, Ref. RB, 5.00%, 11/15/2036 | |
| PEFA, Inc., Series 2019, RB, 5.00%, 09/01/2026 | |
| Kansas (State of) Development Finance Authority, Series 2021, Ref. RB, 5.00%, 11/15/2031 | |
| Energy Northwest (Columbia Generating Station), Series 2022, Ref. RB, 5.00%, 07/01/2033 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Municipal Income Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Lower Alabama Gas District (The), Series 2016 A, RB, 5.00%, 09/01/2046 | |
| Miami-Dade (County of), FL, Subseries 2021 A-1, Ref. RB, 4.00%, 10/01/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Metropolitan Washington Airports Authority, Series 2019 B, Ref. RB, 4.00%, 10/01/2049 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| Washington (State of) Convention Center Public Facilities District, Series 2018, RB, 5.00%, 07/01/2048 | |
| Broward (County of), FL, Series 2017, RB, 5.00%, 10/01/2047 | |
| Washington Metropolitan Area Transit Authority (Green Bonds), Series 2023 A, RB, 5.25%, 07/15/2053 | |
| Board of Regents of the University of Texas System, Series 2019 B, RB, 5.00%, 08/15/2049 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Municipal Income Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Lower Alabama Gas District (The), Series 2016 A, RB, 5.00%, 09/01/2046 | |
| Miami-Dade (County of), FL, Subseries 2021 A-1, Ref. RB, 4.00%, 10/01/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Metropolitan Washington Airports Authority, Series 2019 B, Ref. RB, 4.00%, 10/01/2049 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| Washington (State of) Convention Center Public Facilities District, Series 2018, RB, 5.00%, 07/01/2048 | |
| Broward (County of), FL, Series 2017, RB, 5.00%, 10/01/2047 | |
| Washington Metropolitan Area Transit Authority (Green Bonds), Series 2023 A, RB, 5.25%, 07/15/2053 | |
| Board of Regents of the University of Texas System, Series 2019 B, RB, 5.00%, 08/15/2049 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Municipal Income Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Lower Alabama Gas District (The), Series 2016 A, RB, 5.00%, 09/01/2046 | |
| Miami-Dade (County of), FL, Subseries 2021 A-1, Ref. RB, 4.00%, 10/01/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Metropolitan Washington Airports Authority, Series 2019 B, Ref. RB, 4.00%, 10/01/2049 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| Washington (State of) Convention Center Public Facilities District, Series 2018, RB, 5.00%, 07/01/2048 | |
| Broward (County of), FL, Series 2017, RB, 5.00%, 10/01/2047 | |
| Washington Metropolitan Area Transit Authority (Green Bonds), Series 2023 A, RB, 5.25%, 07/15/2053 | |
| Board of Regents of the University of Texas System, Series 2019 B, RB, 5.00%, 08/15/2049 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Municipal Income Fund (Investor Class) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Lower Alabama Gas District (The), Series 2016 A, RB, 5.00%, 09/01/2046 | |
| Miami-Dade (County of), FL, Subseries 2021 A-1, Ref. RB, 4.00%, 10/01/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Metropolitan Washington Airports Authority, Series 2019 B, Ref. RB, 4.00%, 10/01/2049 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| Washington (State of) Convention Center Public Facilities District, Series 2018, RB, 5.00%, 07/01/2048 | |
| Broward (County of), FL, Series 2017, RB, 5.00%, 10/01/2047 | |
| Washington Metropolitan Area Transit Authority (Green Bonds), Series 2023 A, RB, 5.25%, 07/15/2053 | |
| Board of Regents of the University of Texas System, Series 2019 B, RB, 5.00%, 08/15/2049 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Municipal Income Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Lower Alabama Gas District (The), Series 2016 A, RB, 5.00%, 09/01/2046 | |
| Miami-Dade (County of), FL, Subseries 2021 A-1, Ref. RB, 4.00%, 10/01/2045 | |
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Metropolitan Washington Airports Authority, Series 2019 B, Ref. RB, 4.00%, 10/01/2049 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 6.00%, 06/30/2054 | |
| Washington (State of) Convention Center Public Facilities District, Series 2018, RB, 5.00%, 07/01/2048 | |
| Broward (County of), FL, Series 2017, RB, 5.00%, 10/01/2047 | |
| Washington Metropolitan Area Transit Authority (Green Bonds), Series 2023 A, RB, 5.25%, 07/15/2053 | |
| Board of Regents of the University of Texas System, Series 2019 B, RB, 5.00%, 08/15/2049 | |
| Texas (State of) Water Development Board (Master Trust), Series 2022, RB, 5.00%, 10/15/2047 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco New Jersey Municipal Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| Middlesex (County of), NJ Improvement Authority (New Jersey Health + Life Science Exchange - H-1), Series 2023, RB, 5.00%, 08/15/2053 | |
| New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement), Series 2013, RB, 5.38%, 01/01/2043 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2018 A, Ref. RB, 4.25%, 12/15/2038 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2008 A, RB, 0.00%, 12/15/2037 | |
| New Jersey (State of) Turnpike Authority, Series 2021 A, RB, 4.00%, 01/01/2042 | |
| Rib Floater Trust, Series 2024, VRD GO Notes, 2.75%, 04/02/2025 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2019 BB, RB, 4.00%, 06/15/2050 | |
| New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group), Series 2024, RB, 5.25%, 07/01/2054 | |
| New Jersey (State of) Turnpike Authority, Series 2024 C, Ref. RB, 5.00%, 01/01/2045 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco New Jersey Municipal Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| Middlesex (County of), NJ Improvement Authority (New Jersey Health + Life Science Exchange - H-1), Series 2023, RB, 5.00%, 08/15/2053 | |
| New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement), Series 2013, RB, 5.38%, 01/01/2043 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2018 A, Ref. RB, 4.25%, 12/15/2038 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2008 A, RB, 0.00%, 12/15/2037 | |
| New Jersey (State of) Turnpike Authority, Series 2021 A, RB, 4.00%, 01/01/2042 | |
| Rib Floater Trust, Series 2024, VRD GO Notes, 2.75%, 04/02/2025 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2019 BB, RB, 4.00%, 06/15/2050 | |
| New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group), Series 2024, RB, 5.25%, 07/01/2054 | |
| New Jersey (State of) Turnpike Authority, Series 2024 C, Ref. RB, 5.00%, 01/01/2045 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco New Jersey Municipal Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| Middlesex (County of), NJ Improvement Authority (New Jersey Health + Life Science Exchange - H-1), Series 2023, RB, 5.00%, 08/15/2053 | |
| New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement), Series 2013, RB, 5.38%, 01/01/2043 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2018 A, Ref. RB, 4.25%, 12/15/2038 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2008 A, RB, 0.00%, 12/15/2037 | |
| New Jersey (State of) Turnpike Authority, Series 2021 A, RB, 4.00%, 01/01/2042 | |
| Rib Floater Trust, Series 2024, VRD GO Notes, 2.75%, 04/02/2025 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2019 BB, RB, 4.00%, 06/15/2050 | |
| New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group), Series 2024, RB, 5.25%, 07/01/2054 | |
| New Jersey (State of) Turnpike Authority, Series 2024 C, Ref. RB, 5.00%, 01/01/2045 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco New Jersey Municipal Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| Middlesex (County of), NJ Improvement Authority (New Jersey Health + Life Science Exchange - H-1), Series 2023, RB, 5.00%, 08/15/2053 | |
| New Jersey (State of) Economic Development Authority (The Goethals Bridge Replacement), Series 2013, RB, 5.38%, 01/01/2043 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2018 A, Ref. RB, 4.25%, 12/15/2038 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2008 A, RB, 0.00%, 12/15/2037 | |
| New Jersey (State of) Turnpike Authority, Series 2021 A, RB, 4.00%, 01/01/2042 | |
| Rib Floater Trust, Series 2024, VRD GO Notes, 2.75%, 04/02/2025 | |
| New Jersey (State of) Transportation Trust Fund Authority, Series 2019 BB, RB, 4.00%, 06/15/2050 | |
| New Jersey (State of) Health Care Facilities Financing Authority (RWJ Barnabas Health Obligated Group), Series 2024, RB, 5.25%, 07/01/2054 | |
| New Jersey (State of) Turnpike Authority, Series 2024 C, Ref. RB, 5.00%, 01/01/2045 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Pennsylvania Municipal Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2008 A, RB, 0.00%, 05/15/2057 | |
| Philadelphia (City of), PA Authority for Industrial Development (Thomas Jefferson University), Series 2017 A, Ref. RB, 5.00%, 09/01/2047 | |
| Geisinger Authority (Geisinger Health System), Series 2017 A-1, Ref. RB, 5.00%, 02/15/2045 | |
| Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life Communities, Inc.), Series 2016, Ref. RB, 5.00%, 11/15/2036 | |
| Allegheny (County of), PA, Series 2016 C-76, GO Bonds, 5.00%, 11/01/2041 | |
| Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue), Series 2018 A, Ref. RB, 5.00%, 04/01/2047 | |
| Philadelphia (City of), PA, Series 2017 B, Ref. RB, 5.00%, 07/01/2047 | |
| Children's Trust Fund, Series 2002, RB, 5.50%, 05/15/2039 | |
| Pennsylvania (Commonwealth of) Turnpike Commission, Series 2009 E, RB, 6.38%, 12/01/2038 | |
| Pennsylvania (Commonwealth of) Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement), Series 2015, RB, 5.00%, 06/30/2042 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Pennsylvania Municipal Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2008 A, RB, 0.00%, 05/15/2057 | |
| Philadelphia (City of), PA Authority for Industrial Development (Thomas Jefferson University), Series 2017 A, Ref. RB, 5.00%, 09/01/2047 | |
| Geisinger Authority (Geisinger Health System), Series 2017 A-1, Ref. RB, 5.00%, 02/15/2045 | |
| Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life Communities, Inc.), Series 2016, Ref. RB, 5.00%, 11/15/2036 | |
| Allegheny (County of), PA, Series 2016 C-76, GO Bonds, 5.00%, 11/01/2041 | |
| Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue), Series 2018 A, Ref. RB, 5.00%, 04/01/2047 | |
| Philadelphia (City of), PA, Series 2017 B, Ref. RB, 5.00%, 07/01/2047 | |
| Children's Trust Fund, Series 2002, RB, 5.50%, 05/15/2039 | |
| Pennsylvania (Commonwealth of) Turnpike Commission, Series 2009 E, RB, 6.38%, 12/01/2038 | |
| Pennsylvania (Commonwealth of) Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement), Series 2015, RB, 5.00%, 06/30/2042 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Pennsylvania Municipal Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2008 A, RB, 0.00%, 05/15/2057 | |
| Philadelphia (City of), PA Authority for Industrial Development (Thomas Jefferson University), Series 2017 A, Ref. RB, 5.00%, 09/01/2047 | |
| Geisinger Authority (Geisinger Health System), Series 2017 A-1, Ref. RB, 5.00%, 02/15/2045 | |
| Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life Communities, Inc.), Series 2016, Ref. RB, 5.00%, 11/15/2036 | |
| Allegheny (County of), PA, Series 2016 C-76, GO Bonds, 5.00%, 11/01/2041 | |
| Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue), Series 2018 A, Ref. RB, 5.00%, 04/01/2047 | |
| Philadelphia (City of), PA, Series 2017 B, Ref. RB, 5.00%, 07/01/2047 | |
| Children's Trust Fund, Series 2002, RB, 5.50%, 05/15/2039 | |
| Pennsylvania (Commonwealth of) Turnpike Commission, Series 2009 E, RB, 6.38%, 12/01/2038 | |
| Pennsylvania (Commonwealth of) Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement), Series 2015, RB, 5.00%, 06/30/2042 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Pennsylvania Municipal Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2008 A, RB, 0.00%, 05/15/2057 | |
| Philadelphia (City of), PA Authority for Industrial Development (Thomas Jefferson University), Series 2017 A, Ref. RB, 5.00%, 09/01/2047 | |
| Geisinger Authority (Geisinger Health System), Series 2017 A-1, Ref. RB, 5.00%, 02/15/2045 | |
| Montgomery (County of), PA Industrial Development Authority (ACTS Retirement-Life Communities, Inc.), Series 2016, Ref. RB, 5.00%, 11/15/2036 | |
| Allegheny (County of), PA, Series 2016 C-76, GO Bonds, 5.00%, 11/01/2041 | |
| Allegheny (County of), PA Hospital Development Authority (Allegheny Health Network Obligated Group Issue), Series 2018 A, Ref. RB, 5.00%, 04/01/2047 | |
| Philadelphia (City of), PA, Series 2017 B, Ref. RB, 5.00%, 07/01/2047 | |
| Children's Trust Fund, Series 2002, RB, 5.50%, 05/15/2039 | |
| Pennsylvania (Commonwealth of) Turnpike Commission, Series 2009 E, RB, 6.38%, 12/01/2038 | |
| Pennsylvania (Commonwealth of) Economic Development Financing Authority (Pennsylvania Rapid Bridge Replacement), Series 2015, RB, 5.00%, 06/30/2042 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® AMT-Free New York Municipal Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York (City of), NY Municipal Water Finance Authority, Series 2021 AA-1, RB, 4.00%, 06/15/2050 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2056 | |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB, 5.25%, 10/01/2035 | |
| New York (State of) Thruway Authority (Bidding Group 1) (Green Bonds), Series 2022 C, RB, 5.00%, 03/15/2053 | |
| New York (State of) Utility Debt Securitization Authority, Series 2017, RB, 5.00%, 12/15/2041 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2021 A, RB, 5.00%, 11/15/2056 | |
| Metropolitan Transportation Authority, Series 2016 C-1, RB, 5.25%, 11/15/2056 | |
| Dutchess County Local Development Corp. (Health Quest Systems, Inc.), Series 2016 B, RB, 5.00%, 07/01/2046 | |
| New York Counties Tobacco Trust V, Series 2005 S-1, RB, 0.00%, 06/01/2038 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2022, RB, 5.25%, 05/15/2057 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® AMT-Free New York Municipal Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York (City of), NY Municipal Water Finance Authority, Series 2021 AA-1, RB, 4.00%, 06/15/2050 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2056 | |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB, 5.25%, 10/01/2035 | |
| New York (State of) Thruway Authority (Bidding Group 1) (Green Bonds), Series 2022 C, RB, 5.00%, 03/15/2053 | |
| New York (State of) Utility Debt Securitization Authority, Series 2017, RB, 5.00%, 12/15/2041 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2021 A, RB, 5.00%, 11/15/2056 | |
| Metropolitan Transportation Authority, Series 2016 C-1, RB, 5.25%, 11/15/2056 | |
| Dutchess County Local Development Corp. (Health Quest Systems, Inc.), Series 2016 B, RB, 5.00%, 07/01/2046 | |
| New York Counties Tobacco Trust V, Series 2005 S-1, RB, 0.00%, 06/01/2038 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2022, RB, 5.25%, 05/15/2057 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® AMT-Free New York Municipal Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York (City of), NY Municipal Water Finance Authority, Series 2021 AA-1, RB, 4.00%, 06/15/2050 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2056 | |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB, 5.25%, 10/01/2035 | |
| New York (State of) Thruway Authority (Bidding Group 1) (Green Bonds), Series 2022 C, RB, 5.00%, 03/15/2053 | |
| New York (State of) Utility Debt Securitization Authority, Series 2017, RB, 5.00%, 12/15/2041 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2021 A, RB, 5.00%, 11/15/2056 | |
| Metropolitan Transportation Authority, Series 2016 C-1, RB, 5.25%, 11/15/2056 | |
| Dutchess County Local Development Corp. (Health Quest Systems, Inc.), Series 2016 B, RB, 5.00%, 07/01/2046 | |
| New York Counties Tobacco Trust V, Series 2005 S-1, RB, 0.00%, 06/01/2038 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2022, RB, 5.25%, 05/15/2057 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® AMT-Free New York Municipal Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York (City of), NY Municipal Water Finance Authority, Series 2021 AA-1, RB, 4.00%, 06/15/2050 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2056 | |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB, 5.25%, 10/01/2035 | |
| New York (State of) Thruway Authority (Bidding Group 1) (Green Bonds), Series 2022 C, RB, 5.00%, 03/15/2053 | |
| New York (State of) Utility Debt Securitization Authority, Series 2017, RB, 5.00%, 12/15/2041 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2021 A, RB, 5.00%, 11/15/2056 | |
| Metropolitan Transportation Authority, Series 2016 C-1, RB, 5.25%, 11/15/2056 | |
| Dutchess County Local Development Corp. (Health Quest Systems, Inc.), Series 2016 B, RB, 5.00%, 07/01/2046 | |
| New York Counties Tobacco Trust V, Series 2005 S-1, RB, 0.00%, 06/01/2038 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2022, RB, 5.25%, 05/15/2057 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Limited Term New York Municipal Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2002, RB, 5.50%, 05/15/2039 | |
| New York (State of) Thruway Authority (Bidding Group 3), Series 2022, Ref. RB, 4.00%, 03/15/2043 | |
| New York (City of), NY Transitional Finance Authority, Series 2017 F-1, RB, 5.00%, 05/01/2042 | |
| New York (City of), NY, Series 2024 D, GO Bonds, 4.00%, 04/01/2045 | |
| Long Island (City of), NY Power Authority, Series 2014 A, Ref. RB, 5.00%, 11/19/2024 | |
| New York Convention Center Development Corp. (Hotel Unit Fee Secured), Series 2015, Ref. RB, 5.00%, 11/15/2040 | |
| New York (City of), NY Transitional Finance Authority, Series 2015 S, RB, 5.00%, 07/15/2040 | |
| New York (City of), NY Transitional Finance Authority, Subseries 2018 S-3, Ref. RB, 5.00%, 07/15/2036 | |
| Triborough Bridge & Tunnel Authority, Series 2014 A, RB, 5.00%, 11/19/2024 | |
| Erie Tobacco Asset Securitization Corp., Series 2005 A, RB, 5.00%, 06/01/2031 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Limited Term New York Municipal Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2002, RB, 5.50%, 05/15/2039 | |
| New York (State of) Thruway Authority (Bidding Group 3), Series 2022, Ref. RB, 4.00%, 03/15/2043 | |
| New York (City of), NY Transitional Finance Authority, Series 2017 F-1, RB, 5.00%, 05/01/2042 | |
| New York (City of), NY, Series 2024 D, GO Bonds, 4.00%, 04/01/2045 | |
| Long Island (City of), NY Power Authority, Series 2014 A, Ref. RB, 5.00%, 11/19/2024 | |
| New York Convention Center Development Corp. (Hotel Unit Fee Secured), Series 2015, Ref. RB, 5.00%, 11/15/2040 | |
| New York (City of), NY Transitional Finance Authority, Series 2015 S, RB, 5.00%, 07/15/2040 | |
| New York (City of), NY Transitional Finance Authority, Subseries 2018 S-3, Ref. RB, 5.00%, 07/15/2036 | |
| Triborough Bridge & Tunnel Authority, Series 2014 A, RB, 5.00%, 11/19/2024 | |
| Erie Tobacco Asset Securitization Corp., Series 2005 A, RB, 5.00%, 06/01/2031 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Limited Term New York Municipal Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2002, RB, 5.50%, 05/15/2039 | |
| New York (State of) Thruway Authority (Bidding Group 3), Series 2022, Ref. RB, 4.00%, 03/15/2043 | |
| New York (City of), NY Transitional Finance Authority, Series 2017 F-1, RB, 5.00%, 05/01/2042 | |
| New York (City of), NY, Series 2024 D, GO Bonds, 4.00%, 04/01/2045 | |
| Long Island (City of), NY Power Authority, Series 2014 A, Ref. RB, 5.00%, 11/19/2024 | |
| New York Convention Center Development Corp. (Hotel Unit Fee Secured), Series 2015, Ref. RB, 5.00%, 11/15/2040 | |
| New York (City of), NY Transitional Finance Authority, Series 2015 S, RB, 5.00%, 07/15/2040 | |
| New York (City of), NY Transitional Finance Authority, Subseries 2018 S-3, Ref. RB, 5.00%, 07/15/2036 | |
| Triborough Bridge & Tunnel Authority, Series 2014 A, RB, 5.00%, 11/19/2024 | |
| Erie Tobacco Asset Securitization Corp., Series 2005 A, RB, 5.00%, 06/01/2031 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Limited Term New York Municipal Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Children's Trust Fund, Series 2002, RB, 5.50%, 05/15/2039 | |
| New York (State of) Thruway Authority (Bidding Group 3), Series 2022, Ref. RB, 4.00%, 03/15/2043 | |
| New York (City of), NY Transitional Finance Authority, Series 2017 F-1, RB, 5.00%, 05/01/2042 | |
| New York (City of), NY, Series 2024 D, GO Bonds, 4.00%, 04/01/2045 | |
| Long Island (City of), NY Power Authority, Series 2014 A, Ref. RB, 5.00%, 11/19/2024 | |
| New York Convention Center Development Corp. (Hotel Unit Fee Secured), Series 2015, Ref. RB, 5.00%, 11/15/2040 | |
| New York (City of), NY Transitional Finance Authority, Series 2015 S, RB, 5.00%, 07/15/2040 | |
| New York (City of), NY Transitional Finance Authority, Subseries 2018 S-3, Ref. RB, 5.00%, 07/15/2036 | |
| Triborough Bridge & Tunnel Authority, Series 2014 A, RB, 5.00%, 11/19/2024 | |
| Erie Tobacco Asset Securitization Corp., Series 2005 A, RB, 5.00%, 06/01/2031 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Municipal Opportunities Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Patriots Energy Group Financing Agency, Series 2023 A-1, RB, 5.25%, 08/01/2031 | |
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 A, RB, 0.00%, 06/01/2050 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Massachusetts (Commonwealth of), Series 2024 A, GO Bonds, 5.00%, 01/01/2054 | |
| District of Columbia Tobacco Settlement Financing Corp., Series 2006 C, RB, 0.00%, 06/15/2055 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2051 | |
| Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds, 4.00%, 07/01/2041 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 5.13%, 06/30/2060 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Municipal Opportunities Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Patriots Energy Group Financing Agency, Series 2023 A-1, RB, 5.25%, 08/01/2031 | |
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 A, RB, 0.00%, 06/01/2050 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Massachusetts (Commonwealth of), Series 2024 A, GO Bonds, 5.00%, 01/01/2054 | |
| District of Columbia Tobacco Settlement Financing Corp., Series 2006 C, RB, 0.00%, 06/15/2055 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2051 | |
| Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds, 4.00%, 07/01/2041 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 5.13%, 06/30/2060 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Municipal Opportunities Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Patriots Energy Group Financing Agency, Series 2023 A-1, RB, 5.25%, 08/01/2031 | |
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 A, RB, 0.00%, 06/01/2050 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Massachusetts (Commonwealth of), Series 2024 A, GO Bonds, 5.00%, 01/01/2054 | |
| District of Columbia Tobacco Settlement Financing Corp., Series 2006 C, RB, 0.00%, 06/15/2055 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2051 | |
| Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds, 4.00%, 07/01/2041 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 5.13%, 06/30/2060 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Municipal Opportunities Fund (Class R5) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Patriots Energy Group Financing Agency, Series 2023 A-1, RB, 5.25%, 08/01/2031 | |
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 A, RB, 0.00%, 06/01/2050 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Massachusetts (Commonwealth of), Series 2024 A, GO Bonds, 5.00%, 01/01/2054 | |
| District of Columbia Tobacco Settlement Financing Corp., Series 2006 C, RB, 0.00%, 06/15/2055 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2051 | |
| Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds, 4.00%, 07/01/2041 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 5.13%, 06/30/2060 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® Municipal Opportunities Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| Buckeye Tobacco Settlement Financing Authority, Series 2020 B-2, Ref. RB, 5.00%, 06/01/2055 | |
| Patriots Energy Group Financing Agency, Series 2023 A-1, RB, 5.25%, 08/01/2031 | |
| Children's Trust Fund, Series 2002, RB, 5.63%, 05/15/2043 | |
| California (State of) County Tobacco Securitization Agency, Series 2006 A, RB, 0.00%, 06/01/2050 | |
| San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 A, RB, 5.00%, 05/01/2049 | |
| Massachusetts (Commonwealth of), Series 2024 A, GO Bonds, 5.00%, 01/01/2054 | |
| District of Columbia Tobacco Settlement Financing Corp., Series 2006 C, RB, 0.00%, 06/15/2055 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2051 | |
| Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds, 4.00%, 07/01/2041 | |
| New York Transportation Development Corp. (American Airlines, Inc. John F. Kennedy International Airport), Series 2023, RB, 5.13%, 06/30/2060 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® New York Municipals Fund (Class A) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York (City of), NY Transitional Finance Authority, Series 2023, RB, 5.00%, 05/01/2053 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2056 | |
| New York (City of), NY, Series 2024 C, GO Bonds, 5.25%, 03/01/2053 | |
| University of Puerto Rico, Series 2006 Q, RB, 5.00%, 06/01/2036 | |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB, 5.25%, 10/01/2035 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2024, RB, 5.25%, 05/15/2064 | |
| Triborough Bridge & Tunnel Authority, Series 2023, RB, 5.00%, 05/15/2051 | |
| New York (State of) Dormitory Authority, Series 2022 A, RB, 4.00%, 03/15/2049 | |
| New York (State of) Thruway Authority, Series 2019 B, RB, 4.00%, 01/01/2050 | |
| New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), Series 2016 A, RB, 5.25%, 01/01/2050 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® New York Municipals Fund (Class C) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York (City of), NY Transitional Finance Authority, Series 2023, RB, 5.00%, 05/01/2053 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2056 | |
| New York (City of), NY, Series 2024 C, GO Bonds, 5.25%, 03/01/2053 | |
| University of Puerto Rico, Series 2006 Q, RB, 5.00%, 06/01/2036 | |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB, 5.25%, 10/01/2035 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2024, RB, 5.25%, 05/15/2064 | |
| Triborough Bridge & Tunnel Authority, Series 2023, RB, 5.00%, 05/15/2051 | |
| New York (State of) Dormitory Authority, Series 2022 A, RB, 4.00%, 03/15/2049 | |
| New York (State of) Thruway Authority, Series 2019 B, RB, 4.00%, 01/01/2050 | |
| New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), Series 2016 A, RB, 5.25%, 01/01/2050 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® New York Municipals Fund (Class Y) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York (City of), NY Transitional Finance Authority, Series 2023, RB, 5.00%, 05/01/2053 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2056 | |
| New York (City of), NY, Series 2024 C, GO Bonds, 5.25%, 03/01/2053 | |
| University of Puerto Rico, Series 2006 Q, RB, 5.00%, 06/01/2036 | |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB, 5.25%, 10/01/2035 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2024, RB, 5.25%, 05/15/2064 | |
| Triborough Bridge & Tunnel Authority, Series 2023, RB, 5.00%, 05/15/2051 | |
| New York (State of) Dormitory Authority, Series 2022 A, RB, 4.00%, 03/15/2049 | |
| New York (State of) Thruway Authority, Series 2019 B, RB, 4.00%, 01/01/2050 | |
| New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), Series 2016 A, RB, 5.25%, 01/01/2050 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
SEMI-ANNUAL SHAREHOLDER REPORT | August 31, 2024
What Were The Fund Costs For The Last Six Months?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment* |
| Invesco Rochester® New York Municipals Fund (Class R6) |
$ |
| * |
|
What Are Key Statistics About The Fund?
(as of August 31, 2024)
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
What Comprised The Fund's Holdings?
(as of August 31, 2024)
Top ten holdings
(% of net assets)
(% of net assets)
| New York (City of), NY Transitional Finance Authority, Series 2023, RB, 5.00%, 05/01/2053 | |
| MTA Hudson Rail Yards Trust Obligations, Series 2016 A, RB, 5.00%, 11/15/2056 | |
| New York (City of), NY, Series 2024 C, GO Bonds, 5.25%, 03/01/2053 | |
| University of Puerto Rico, Series 2006 Q, RB, 5.00%, 06/01/2036 | |
| New York Liberty Development Corp. (Goldman Sachs Headquarters), Series 2005, Ref. RB, 5.25%, 10/01/2035 | |
| Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series 2024, RB, 5.25%, 05/15/2064 | |
| Triborough Bridge & Tunnel Authority, Series 2023, RB, 5.00%, 05/15/2051 | |
| New York (State of) Dormitory Authority, Series 2022 A, RB, 4.00%, 03/15/2049 | |
| New York (State of) Thruway Authority, Series 2019 B, RB, 4.00%, 01/01/2050 | |
| New York Transportation Development Corp. (LaGuardia Airport Terminal B Redevelopment), Series 2016 A, RB, 5.25%, 01/01/2050 |
Credit sector allocation
(% of total investments)
(% of total investments)
Where Can I Find More Information?
You can find more information about the Fund, including the Fund's prospectus, financial information, and holdings at invesco.com/reports. Additionally, the Fund's proxy voting information can be found at invesco.com/proxy-voting.
What Should I Know About Delivery Of Important Regulatory Documents?
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). Mailing of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact Invesco Investment Services, Inc. at (800) 959-4246 or contact your financial institution. We will begin sending you individual copies for each account within 30 days after receiving your request.
For additional information, please scan the QR code at the left to navigate to additional material at invesco.com/reports.
