Invesco Equity and Income Fund investor guide (PDF) · Invesco Equity and Income Fund seeks to provide investors with a level of stability as ... Bloomberg Barclays U.S. Aggregate

Invesco Equity and Income Fund (ACEIX)The all weather portfolio

2

All-weather investingThe potential for growth and income in a range of market climates

Just as the weather can change quickly, so can the markets and the economy. In either case, it’s impossible for anyone to accurately predict what the future holds. That’s where an all-weather portfolio comes in.

Invesco Equity and Income Fund seeks to provide investors with a level of stability as well as an opportunity for growth. Comprised of both stocks and bonds, we believe this broadly diversified fund has the potential to perform well in any season.• Stocks for sunny seasons. Through investments in stocks, the fund may participate

in the growth potential of the market.• Bonds for chilly times. Through investments in bonds, the fund has the potential

to earn income from securities that have historically been more stable than stocks.

That’s potential for growth with a measure of stability — a combination investors can feel good about in any market environment.

Invest with intention, not emotionHistorically, investors led by emotion have lagged the market

It’s natural to want to chase the highest returns. And some investors do: jumping in when the market is good and bailing out when the market turns. But, as shown by the example below, that strategy can wreak havoc on returns.

DALBAR’s 2017 Quantitative Analysis of Investor Behavior shows that the average equity investor acts emotionally, making irrational decisions that can negatively affect investment performance. In fact, the study shows that investors who let their emotions get the best of them generally find themselves with a portfolio that barely outpaces inflation over the long term. However, by suppressing any emotional urges and adhering to a disciplined investment strategy, investors are more likely to achieve their goals.

Investors vs. inflation and the S&P 500 Index %20-year average annual total returns (as of Dec. 31, 2016)

2

4

6

8

10Buy and hold InflationAverage equity investor%

4.79

2.13

7.68

Source: DALBAR, Inc. 2017 Quantitative Analysis of Investor Behavior (QAIB). QAIB calculates investor returns as the change in assets after excluding sales, redemptions and exchanges. This method of calculation captures realized and unrealized capital gains, dividends, interest, trading costs, sales charges, fees, expenses and any other costs, annualized over the period. Buy and Hold is represented by the S&P 500 Index. Inflation is measured by the Consumer Price Index. Investments cannot be made directly into an index. Past performance is not a guarantee of future results.

Three investing mistakes1. Chasing last year’s winners2. Not diversifying adequately3. Trying to time the market

Three solid moves1. Investing based on long-term performance 2. Ignoring short-term market movements3. Relying on a professionally managed fund

S&P 500 Index

7.68%Buy and hold strategy 20-year average

Invesco Equity and Income Fund 3

Stocks, bonds and inflationHistorically stocks and bonds have outpaced inflation

To see inflation at work, take a look at the illustration below. It shows how the price of a stamp has increased over the years. In fact, inflation relentlessly erodes the value of a dollar over time. That means the money you save today may not be enough to purchase what you’ll need tomorrow.

5¢1965

10¢1975

20¢1985

32¢1995

46¢2013

45¢2012

49¢2017

47¢2016

Luckily, there are investments that have far outpaced inflation — helping investors preserve the value of their assets. This is reflected in the chart below. Over the long term, stocks and bonds have each outpaced inflation. However, the strategic combination of both, as offered in Invesco Equity and Income Fund, has delivered performance that compares favorably with stock returns — with considerably less volatility.

Performance of a $10,000 investment1

March 31, 1998 to March 31, 2018

Invesco Equity and Income Fund

StocksBondsUS TreasuriesCash (adjusted for inflation)

$41,317 Return: 7.35%

$34,934 Return: 6.45%

$25,671 Return: 4.83%

$14,395 Return: 1.84%

$14,253 Return: 1.79%10,000

20,000

30,000

40,000

$50,000

Cash: Consumer Price Index US Treasuries: US 3-Month Treasury Bills Bonds: Bloomberg Barclays U.S. Aggregate Bond Index

Stocks: S&P 500 Index Class A shares at NAV

Average annual total returns %As of March 31, 2018

Invesco Equity and Income Fund Class A shares 1 year 3 years 5 years 10 years 25 years

Inception 8/3/60

Without sales charge 6.05 6.77 8.68 7.59 9.33 10.18

With max. 5.50% sales charge 0.19 4.77 7.46 6.99 9.08 10.08

Beta (relative to the S&P 500 Index) — 0.77 0.75 0.73 0.66 —

Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Visit invesco.com/performance for the most recent month-end performance. Performance figures reflect reinvested distributions and changes in net asset value (NAV). Investment return and principal value will vary, and you may have a gain or a loss when you sell shares. Performance shown at NAV does not include applicable front-end sales charges, which would have reduced the performance. Had fees not been waived and/or expenses reimbursed currently or in the past, returns would have been lower. An investment cannot be made directly in an index. The gross expense ratio is 0.80% for Class A shares as of March 31, 2018. See current prospectus for more information.

Source: StyleADVISOR, Morningstar Inc., Lipper. Please see back cover for index definitions.

1 Important note: On the surface, conservative savings vehicles such as Treasury Bills and certificates of deposit (CDs) may appear attractive because they fluctuate less. But you need to balance these considerations with a realistic evaluation of how you want your investments to grow. CDs offer a guaranteed return of principal over a stated period of time and a fixed rate of interest. They are typically issued by institutions whose deposits are insured. The income and principal payments of US government bonds are backed by the full faith and credit of the US government if held to maturity. Mutual fund shares may be more volatile than other investments. They are not insured, and the value of shares, when redeemed, may be more or less than what you originally paid for them. Accordingly, it is possible to lose money in a mutual fund investment. While stocks typically entail greater risk and experience more fluctuations, they have historically outpaced bonds and cash over longer periods.

4

Stocks, bonds or both?A powerful combination

While stocks may provide growth, they can also be volatile. While bonds can provide a measure of stability from volatility, they have lacked the growth potential of stocks. But together they can be a powerful combination. In fact, owning both types of investments in a portfolio may provide the diversification, risk management and, ultimately, the performance that long-term investors seek.

Invesco Equity and Income Fund versus historical asset class returns %

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Wor

st p

erfo

rmer

s B

est

perf

orm

ers

Government bond

12.39

High Yield

58.21

Real estate

27.95

Municipal bond

10.70

Real estate

19.70

Small caps

38.82

Real estate

28.03

Large-cap growth

5.67

Small caps

21.31

Large-cap growth

30.21

Mortgage

8.52

Mid caps

40.48

Small caps

26.85

Government bond

9.02

Large-cap value

17.51

Mid caps

34.76

Large-cap value

13.45

Municipal bond

3.30

Large-cap value

17.34

International equity

25.03

Short-Term Treasury

4.97

Large-cap growth

37.21

Mid caps

25.48

Real estate

8.28


17.32

Large-cap growth

33.48

Mid caps

13.22

Real estate

2.83

High yield

17.13

Mid caps

18.52

International bond

4.40


31.78

Large-cap growth

16.71

Corporate bond

8.15

Mid caps

17.28

Large-cap value

32.53

Large-cap growth

13.05

Mortgage

1.51

Invesco Equity and Income Fund14.83

Small caps

14.65

Municipal bond

–2.47

Real estate

27.99

Large-cap value

15.51

Mortgage

6.32

Small caps

16.35



Government bond

0.86

Mid caps

13.80

Large-cap value

13.66

Corporate bond

–4.94

Small caps

27.17

High yield

15.12

High yield

4.98

High yield

15.81


22.78

Municipal bond

9.05

Short-Term Treasury

0.65

Commodities

11.37


Invesco Equity and Income Fund-24.78

Invesco Equity and Income Fund 23.51


International bond

4.36

Large-cap growth

15.26

High yield

7.44

Corporate bond

7.46

Corporate bond

-0.68

Real estate

8.63

International bond

10.51

High yield

–26.16

Large-cap value

19.69

Commodities

9.03

Large-cap growth

2.64


Real estate

2.86

Mortgage

6.15


-0.81

Large-cap growth

7.08

Real estate

8.67

Small caps

–33.79

Corporate bond

18.68

Corporate bond

9.00

Short-Term Treasury

1.59

Corporate bond

9.82

Short-Term Treasury

0.64

Government bond

4.92


Corporate bond

6.11

High yield

7.50

Large-cap value

–36.85

Commodities

13.48


7.75

Large-cap value

0.39

Municipal bond

6.78

Commodities

-1.22

Small caps

4.89

Mid caps

-2.44

Mortgage

1.67

Corporate bond

6.42

Real estate

–37.73

Municipal bond

12.91

Government bond

5.52

Commodities

-1.18

International bond

4.09

Mortgage

-1.45

High yield

2.45

Large-cap value

-3.83

International bond

1.49

Commodities

5.77

Large-cap growth

–38.44

International bond

7.53

Mortgage

5.50

Invesco Equity and Income Fund -1.23

Mortgage

2.60

Corporate bond

-1.53

Short-Term Treasury

0.77

Small caps

-4.41

Short-Term Treasury

1.28

Municipal bond

5.45

Mid caps

–41.46

Mortgage

5.75

International bond

4.94

Mid caps

-1.55

Government bond

2.02

Municipal bond

-2.55

International bond

-3.08

High yield

-4.47

Government bond

1.05

Mortgage

2.48


–43.38

Short-Term Treasury

3.82

Short-Term Treasury

2.80

Small caps

-4.18

Short-Term Treasury

1.26

Government bond

-2.60


-4.90

International bond

-6.02


1.00

Government bond

2.30

Commodities

–46.49

Government bond

–2.20

Municipal bond

2.38


-12.14

Commodities

0.08

International bond

-3.08

Commodities

-33.06

Commodities

-32.86

Municipal bond

0.25

Short-term Treasury

0.84

Invesco Equity and Income Fund (Class A shares at NAV) Short-Term Treasury — Bloomberg Barclays 1–3 Year Government/Credit Index High yield — Bloomberg Barclays U.S. Corporate High Yield Index Mortgage — Bloomberg Barclays U.S. MBS Fixed Rate Index Corporate bond — Bloomberg Barclays Corporate Investment Grade Index Government bond — Bloomberg Barclays U.S. Government Index Municipal bond — Bloomberg Barclays Municipal Bond Index International bond — Bloomberg Barclays Global Aggregate ex-U.S. Index

Large-cap growth — Russell 1000 Growth Index Large-cap value — Russell 1000 Value Index Mid caps — Russell Midcap Index Small caps — Russell 2000 Index International equity — MSCI EAFE Index Real estate — FTSE NAREIT All Equity REITs Index Commodities — S&P GSCI Index


This table is for information purposes only. Performance shown for the Invesco Equity and Income Fund is for Class A shares and does not include sales charges. Past performance is not a guarantee of future results. Investments cannot be made directly into an index. Diversification does not assure a profit or protect against a loss. See back cover for index definitions. Stocks may decline in response to investor sentiment, general economic and market conditions, regional or global instability, and currency and interest rate fluctuations. Fixed income products are subject to the credit risk of the issuer and effects of changing interest rates. Obligations issued by US government agencies and instrumentalities may receive varying levels of support from the government, and Treasury Bills and long-term government bonds would be affected should they default. Commodities may subject an investor to greater volatility than traditional securities such as stocks and bonds. An investment in foreign issuers can fluctuations in foreign currencies, political and economic instability, and foreign taxation issues. Investments focused in a particular sector, such as real estate, are subject to greater risk, and are more greatly affected by market volatility, than more diversified investments.

Invesco Equity and Income Fund versus historical asset class returns %

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Wor

st p

erfo

rmer

s B

est

perf

orm

ers

Government bond

12.39

High Yield

58.21

Real estate

27.95

Municipal bond

10.70

Real estate

19.70

Small caps

38.82

Real estate

28.03

Large-cap growth

5.67

Small caps

21.31

Large-cap growth

30.21

Mortgage

8.52

Mid caps

40.48

Small caps

26.85

Government bond

9.02

Large-cap value

17.51

Mid caps

34.76

Large-cap value

13.45

Municipal bond

3.30

Large-cap value

17.34


25.03

Short-Term Treasury

4.97

Large-cap growth

37.21

Mid caps

25.48

Real estate

8.28


17.32

Large-cap growth

33.48

Mid caps

13.22

Real estate

2.83

High yield

17.13

Mid caps

18.52

International bond

4.40


31.78

Large-cap growth

16.71

Corporate bond

8.15

Mid caps

17.28

Large-cap value

32.53

Large-cap growth

13.05

Mortgage

1.51


Small caps

14.65

Municipal bond

–2.47

Real estate

27.99

Large-cap value

15.51

Mortgage

6.32

Small caps

16.35



Government bond

0.86

Mid caps

13.80

Large-cap value

13.66

Corporate bond

–4.94

Small caps

27.17

High yield

15.12

High yield

4.98

High yield

15.81


22.78

Municipal bond

9.05

Short-Term Treasury

0.65

Commodities

11.37





International bond

4.36

Large-cap growth

15.26

High yield

7.44

Corporate bond

7.46

Corporate bond

-0.68

Real estate

8.63

International bond

10.51

High yield

–26.16

Large-cap value

19.69

Commodities

9.03

Large-cap growth

2.64


Real estate

2.86

Mortgage

6.15


-0.81

Large-cap growth

7.08

Real estate

8.67

Small caps

–33.79

Corporate bond

18.68

Corporate bond

9.00

Short-Term Treasury

1.59

Corporate bond

9.82

Short-Term Treasury

0.64

Government bond

4.92


Corporate bond

6.11

High yield

7.50

Large-cap value

–36.85

Commodities

13.48


7.75

Large-cap value

0.39

Municipal bond

6.78

Commodities

-1.22

Small caps

4.89

Mid caps

-2.44

Mortgage

1.67

Corporate bond

6.42

Real estate

–37.73

Municipal bond

12.91

Government bond

5.52

Commodities

-1.18

International bond

4.09

Mortgage

-1.45

High yield

2.45

Large-cap value

-3.83

International bond

1.49

Commodities

5.77

Large-cap growth

–38.44

International bond

7.53

Mortgage

5.50

Invesco Equity and Income Fund -1.23

Mortgage

2.60

Corporate bond

-1.53

Short-Term Treasury

0.77

Small caps

-4.41

Short-Term Treasury

1.28

Municipal bond

5.45

Mid caps

–41.46

Mortgage

5.75

International bond

4.94

Mid caps

-1.55

Government bond

2.02

Municipal bond

-2.55

International bond

-3.08

High yield

-4.47

Government bond

1.05

Mortgage

2.48


–43.38

Short-Term Treasury

3.82

Short-Term Treasury

2.80

Small caps

-4.18

Short-Term Treasury

1.26

Government bond

-2.60


-4.90

International bond

-6.02


1.00

Government bond

2.30

Commodities

–46.49

Government bond

–2.20

Municipal bond

2.38


-12.14

Commodities

0.08

International bond

-3.08

Commodities

-33.06

Commodities

-32.86

Municipal bond

0.25

Short-term Treasury

0.84

Invesco Equity and Income Fund (Class A shares at NAV) Short-Term Treasury — Bloomberg Barclays 1–3 Year Government/Credit Index High yield — Bloomberg Barclays U.S. Corporate High Yield Index Mortgage — Bloomberg Barclays U.S. MBS Fixed Rate Index Corporate bond — Bloomberg Barclays Corporate Investment Grade Index Government bond — Bloomberg Barclays U.S. Government Index Municipal bond — Bloomberg Barclays Municipal Bond Index International bond — Bloomberg Barclays Global Aggregate ex-U.S. Index

Large-cap growth — Russell 1000 Growth Index Large-cap value — Russell 1000 Value Index Mid caps — Russell Midcap Index Small caps — Russell 2000 Index International equity — MSCI EAFE Index Real estate — FTSE NAREIT All Equity REITs Index Commodities — S&P GSCI Index

6

Invesco Equity and Income FundAn all seasons approach to investing

Invesco Equity and Income Fund offers you an all-seasons approach to investing by combining large-company value stocks, investment-grade bonds and convertible securities in one portfolio. The equity and convertible bond investment team’s individual security selections are based on thorough fundamental analysis and a focus on attractive valuations. The traditional fixed income utilizes both macro- and microeconomic factors in selecting securities.

Invesco Equity and Income Fund’s stock and bond combination can provide:• Built-in diversification that may serve as a cushion in down markets• Professional management focused on generating returns while limiting risk

Portfolio allocation %As of March 31, 2018

US stocks 53.46

US corporate bonds 9.51

US government bonds 11.64

International stocks 11.07

Convertible bonds 7.03

Cash and equivalents 4.59

International corporate bonds 1.90

Other 0.74

Diversification does not guarantee a profit or eliminate the risk of loss. Portfolio holdings are subject to change daily and without notice.

Management team and years of financial industry experience

Thomas B. Bastian Chuck Burge Sergio Marcheli21 years 25 years 23 years

Brian Jurkash Matthew Titus18 years 16 years

Symbols

Class A shares: ACEIX Class C shares: ACERX Class Y shares: ACETX Class R shares: ACESX

Sevendifferent asset classes in one strategy


Strategy you trust, companies you know Invesco Equity and Income Fund’s diversified strategy may give you the potential for both growth and income in a range of market climates. And, because the fund includes the stocks of well-established companies, as well as US government bonds and high-quality corporate bonds, it may serve as the cornerstone of your portfolio.

Names you know: Invesco Equity and Income Fund’s largest stock positions As of March 31, 2018

Top 10 holdings % of total net assets$ Portion of

$10,000 investment

Citigroup Inc. 3.34 334

Bank of America Corp. 3.01 301

JPMorgan Chase & Co. 2.54 254

Morgan Stanley 2.06 206

Citizens Financial Group 1.70 170

Oracle Systems Corp 1.54 154

Philip Morris Intl. 1.41 141

Royal Dutch Shell Plc 1.36 136

General Motors Co. 1.35 135

Cisco Systems Inc. 1.31 131

Brands you know: Other companies that Invesco Equity and Income Fund owns As of March 31, 2018

Brands% of net

assets$ Portion of

$10,000 investment

General Motors Co. Buick, Chevrolet, GMC, Cadillac 1.77 177

Carnival Corp. Cruise lines 1.49 149

Pfizer Inc. Advil, Chapstick, Robitussin, Viagra 1.48 148

CVS Health Corp. Pharmaceutical, healthcare services 1.45 145

Ebay, Inc. Ebay, StubHub 1.26 126

Intel Corp. Digital technology 1.22 122

Comcast Corp. NBC, Philadelphia Flyers, Telemundo 0.95 95

Charles Schwab Corp. Investment services 0.73 73

Symantec Corp. Norton, Lifelock, ID Analytics 0.66 66

Verizon Communications Inc. Communication technology 0.57 57

These partial lists are meant to serve as a general illustration of investment themes. They are not meant to be a recommendation of the individual stocks. Keep in mind that the portfolio includes many other investments; these lists are a snapshot, as of March 31, 2018. The holdings of the portfolio, which include common, convertible and convertible preferred stocks, are subject to change at any time, without notice.

8

An investment storyThe Greens

After their summer wedding in 1960, Bob and Karen Green invested $10,000 in Invesco Equity and Income Fund. The Greens remained invested throughout the market’s ups and downs, always reinvesting their dividends. By Dec. 31, 2017, their original investment may have helped to provide them with a secure retirement as well as a legacy for their family.

Growth of a $10,000 investmentPerformance of an assumed $10,000 investment from first full month since inception (Aug. 31, 1960, through Dec. 31, 2017)

$5,000

$10,000

$100,000

$1,000,000

$5,000,000

1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Capital value Flat market Bull market Bear market

Annual dividends in cash $1

531 563 564 497 510 535 536 668 846 1,034 903 890 1,006 1,105 1,107 1,085 1,151 1,195 1,240 1,372 930 1,461 2,092 1,880 1,769 1,829 2,033 2,219 2,226 1,786 1,638 1,486 1,299 1,489 1,547 1,356 1,599 1,831 2,067 2,504 2,708 2,294 2,294 2,296 2,501 2,958 3,352 3,486 2,326 2,382 2,580 3,081 3,265 5,044 4,150 3,391 4,369

Value at year end $

10,828 9,407 10,166 11,107 13,464 11,845 16,404 21,721 16,301 15,871 19,293 18,676 14,849 12,307 14,609 17,442 16,911 15,937 16,203 16,689 17,088 22,622 26,011 25,384 28,004 29,610 28,405 29,724 33,798 30,480 36,804 39,166 44,070 41,735 53,662 60,566 73,558 84,159 90,452 106,124 100,979 90,394 107,872 118,101 124,774 137,274 138,430 101,087 122,088 134,626 130,395 144,030 176,513 187,588 179,131 202,067 219,629

Total value

Annual dividends reinvested $1

544 617 653 606 648 703 731 928 1,224 1,616 1,498 1,538 1,823 2,136 2,367 2,495 2,825 3,139 3,499 4,189 3,044 5,116 7,992 7,432 7,717 8,436 9,880 11,748 12,797 10,896 10,572 10,028 8,999 10,692 11,362 10,255 12,015 14,386 16,318 20,379 23,193 20,246 20,792 21,256 23,372 28,246 32,786 35,322 24,252 25,356 27,984 34,113 36,224 55,437 48,497 40,652 52,612

Value at year end $

11,608 10,688 12,203 13,946 17,612 16,152 23,181 31,748 24,935 25,990 33,142 33,579 28,433 25,567 32,778 41,766 43,248 43,743 47,890 53,700 57,967 83,522 104,591 109,626 129,289 145,081 147,839 166,438 202,621 193,134 244,649 270,877 314,231 307,996 408,389 471,902 585,773 685,308 753,506 905,652 885,495 811,826 991,724 1,108,464 1,195,086 1,344,838 1,388,708 1,044,524 1,290,075 1,449,966 1,432,095 1,616,598 2,020,116 2,203,337 2,151,597 2,470,783 2,739,658

Annual total returns %

17.13 -7.93 14.18 14.28 26.29 -8.29 43.52 36.96 -21.46 4.23 27.52 1.32 -15.32 -10.08 28.20 27.42 3.55 1.14 9.48 12.13 7.95 44.08 25.23 4.81 17.94 12.21 1.90 12.58 21.74 -4.68 26.67 10.72 16.00 -1.98 32.59 15.55 24.13 16.99 9.95 20.19 -2.23 -8.32 22.16 11.77 7.82 12.53 3.26 -24.78 23.51 12.39 -1.23 12.88 24.96 9.07 -2.35 14.83 10.88

Dow year end2 731 652 763 874 969 786 905 944 800 839 890 1,020 851 616 852 1,005 831 805 839 964 875 1,047 1,259 1,212 1,547 1,896 1,939 2,169 2,753 2,634 3,169 3,301 3,754 3,834 5,117 6,448 7,908 9,181 11,497 10,787 10,022 8,342 10,454 10,783 10,718 12,463 13,265 8,776 10,428 11,578 12,218 13,104 16,576 17,823 17,425 19,762 24,719

1 Annual dividends in cash represents the dividends paid out at the end of each calendar year on the 2,299 shares acquired from the original $10,000 plus additional shares acquired through reinvestment of capital gains on Aug. 31, 1960. Annual dividends reinvested represents the dividends paid out at the end of each calendar year on the original shares, plus the dividends of additional shares acquired through reinvestment.

2 Source: Bloomberg. (Dow) The Dow Jones Industrial AverageSM performance does not include sales charges, expenses, or fees which would have reduced performance. Investments cannot be made directly into an index.

The Greens’ story

1960/1961The Greens marry, invest $10,000 and 1st child Matthew is born

1964The Greens purchase their first house

1968Bob and Karen’s second child, Jennifer, is born

1972The Greens are busy raising their family and pursuing their careers

1979Matthew Green begins college

1986Bob and Karen move to Florida as Jennifer begins college

1992Bob and Karen become first-time grandparents

1995The Greens both retire at age 65

Historical facts

1961East Germany builds Berlin Wall

1963President Kennedy assassinated

1966Dow hits high of 1,000 for first time

1968Martin Luther King, Jr. assassinated

1972Watergate scandal; Dow closes above 1,000

1975Vietnam War ends

1979U.S.S.R. invades Afghanistan

1982Dow closes above 1,000 and never looks back

1986Iran Contra Affair

1991Gulf War

1995Dow closes above 5,000 for first time


2003War in Iraq begins


2009Dow closes above 10,000

1974President Nixon resigns

1983US unemployment rises to 9.7%

1987Financial crisis; Dow falls more than 22% on Black Monday

1992Formal end of Cold War

1997Asian stock market crisis

2001In wake of Sept. 11 attacks, US declares war on terrorism

2005Hurricane Katrina hits New Orleans and Gulf Coast

2008Global credit crisis

Dow closes at 8,766

2016Britain votes to leave the European Union


$5,000

$10,000

$100,000

$1,000,000

$5,000,000

1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017



531 563 564 497 510 535 536 668 846 1,034 903 890 1,006 1,105 1,107 1,085 1,151 1,195 1,240 1,372 930 1,461 2,092 1,880 1,769 1,829 2,033 2,219 2,226 1,786 1,638 1,486 1,299 1,489 1,547 1,356 1,599 1,831 2,067 2,504 2,708 2,294 2,294 2,296 2,501 2,958 3,352 3,486 2,326 2,382 2,580 3,081 3,265 5,044 4,150 3,391 4,369

Value at year end $

10,828 9,407 10,166 11,107 13,464 11,845 16,404 21,721 16,301 15,871 19,293 18,676 14,849 12,307 14,609 17,442 16,911 15,937 16,203 16,689 17,088 22,622 26,011 25,384 28,004 29,610 28,405 29,724 33,798 30,480 36,804 39,166 44,070 41,735 53,662 60,566 73,558 84,159 90,452 106,124 100,979 90,394 107,872 118,101 124,774 137,274 138,430 101,087 122,088 134,626 130,395 144,030 176,513 187,588 179,131 202,067 219,629

Total value


544 617 653 606 648 703 731 928 1,224 1,616 1,498 1,538 1,823 2,136 2,367 2,495 2,825 3,139 3,499 4,189 3,044 5,116 7,992 7,432 7,717 8,436 9,880 11,748 12,797 10,896 10,572 10,028 8,999 10,692 11,362 10,255 12,015 14,386 16,318 20,379 23,193 20,246 20,792 21,256 23,372 28,246 32,786 35,322 24,252 25,356 27,984 34,113 36,224 55,437 48,497 40,652 52,612

Value at year end $

11,608 10,688 12,203 13,946 17,612 16,152 23,181 31,748 24,935 25,990 33,142 33,579 28,433 25,567 32,778 41,766 43,248 43,743 47,890 53,700 57,967 83,522 104,591 109,626 129,289 145,081 147,839 166,438 202,621 193,134 244,649 270,877 314,231 307,996 408,389 471,902 585,773 685,308 753,506 905,652 885,495 811,826 991,724 1,108,464 1,195,086 1,344,838 1,388,708 1,044,524 1,290,075 1,449,966 1,432,095 1,616,598 2,020,116 2,203,337 2,151,597 2,470,783 2,739,658


17.13 -7.93 14.18 14.28 26.29 -8.29 43.52 36.96 -21.46 4.23 27.52 1.32 -15.32 -10.08 28.20 27.42 3.55 1.14 9.48 12.13 7.95 44.08 25.23 4.81 17.94 12.21 1.90 12.58 21.74 -4.68 26.67 10.72 16.00 -1.98 32.59 15.55 24.13 16.99 9.95 20.19 -2.23 -8.32 22.16 11.77 7.82 12.53 3.26 -24.78 23.51 12.39 -1.23 12.88 24.96 9.07 -2.35 14.83 10.88

Dow year end2 731 652 763 874 969 786 905 944 800 839 890 1,020 851 616 852 1,005 831 805 839 964 875 1,047 1,259 1,212 1,547 1,896 1,939 2,169 2,753 2,634 3,169 3,301 3,754 3,834 5,117 6,448 7,908 9,181 11,497 10,787 10,022 8,342 10,454 10,783 10,718 12,463 13,265 8,776 10,428 11,578 12,218 13,104 16,576 17,823 17,425 19,762 24,719

This is a hypothetical example using fictional characters but based on actual fund performance for Class A shares at NAV. Please keep in mind that the returns shown reflect periods of unprecedented growth and double-digit and/or triple-digit returns may not be repeatable or sustainable. The graph uses a logarithmic scale to more accurately reflect historic volatility.

Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Visit invesco.com for the most recent month-end performance. Performance figures reflect reinvested distributions and changes in net asset value (NAV). Performance shown at NAV does not include the applicable front-end sales charge (max 5.50%), which would have reduced the performance. Investment return and principal value will vary so that you may have a gain or a loss when you sell shares. Had fees not been waived and/or expenses reimbursed in the past, returns would have been lower. See current prospectus for more information.

9

The Greens’ story









Historical facts










1991Gulf War














Dow closes at 8,766




$5,000

$10,000

$100,000

$1,000,000

$5,000,000

1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017



531 563 564 497 510 535 536 668 846 1,034 903 890 1,006 1,105 1,107 1,085 1,151 1,195 1,240 1,372 930 1,461 2,092 1,880 1,769 1,829 2,033 2,219 2,226 1,786 1,638 1,486 1,299 1,489 1,547 1,356 1,599 1,831 2,067 2,504 2,708 2,294 2,294 2,296 2,501 2,958 3,352 3,486 2,326 2,382 2,580 3,081 3,265 5,044 4,150 3,391 4,369

Value at year end $

10,828 9,407 10,166 11,107 13,464 11,845 16,404 21,721 16,301 15,871 19,293 18,676 14,849 12,307 14,609 17,442 16,911 15,937 16,203 16,689 17,088 22,622 26,011 25,384 28,004 29,610 28,405 29,724 33,798 30,480 36,804 39,166 44,070 41,735 53,662 60,566 73,558 84,159 90,452 106,124 100,979 90,394 107,872 118,101 124,774 137,274 138,430 101,087 122,088 134,626 130,395 144,030 176,513 187,588 179,131 202,067 219,629

Total value


544 617 653 606 648 703 731 928 1,224 1,616 1,498 1,538 1,823 2,136 2,367 2,495 2,825 3,139 3,499 4,189 3,044 5,116 7,992 7,432 7,717 8,436 9,880 11,748 12,797 10,896 10,572 10,028 8,999 10,692 11,362 10,255 12,015 14,386 16,318 20,379 23,193 20,246 20,792 21,256 23,372 28,246 32,786 35,322 24,252 25,356 27,984 34,113 36,224 55,437 48,497 40,652 52,612

Value at year end $

11,608 10,688 12,203 13,946 17,612 16,152 23,181 31,748 24,935 25,990 33,142 33,579 28,433 25,567 32,778 41,766 43,248 43,743 47,890 53,700 57,967 83,522 104,591 109,626 129,289 145,081 147,839 166,438 202,621 193,134 244,649 270,877 314,231 307,996 408,389 471,902 585,773 685,308 753,506 905,652 885,495 811,826 991,724 1,108,464 1,195,086 1,344,838 1,388,708 1,044,524 1,290,075 1,449,966 1,432,095 1,616,598 2,020,116 2,203,337 2,151,597 2,470,783 2,739,658


17.13 -7.93 14.18 14.28 26.29 -8.29 43.52 36.96 -21.46 4.23 27.52 1.32 -15.32 -10.08 28.20 27.42 3.55 1.14 9.48 12.13 7.95 44.08 25.23 4.81 17.94 12.21 1.90 12.58 21.74 -4.68 26.67 10.72 16.00 -1.98 32.59 15.55 24.13 16.99 9.95 20.19 -2.23 -8.32 22.16 11.77 7.82 12.53 3.26 -24.78 23.51 12.39 -1.23 12.88 24.96 9.07 -2.35 14.83 10.88

Dow year end2 731 652 763 874 969 786 905 944 800 839 890 1,020 851 616 852 1,005 831 805 839 964 875 1,047 1,259 1,212 1,547 1,896 1,939 2,169 2,753 2,634 3,169 3,301 3,754 3,834 5,117 6,448 7,908 9,181 11,497 10,787 10,022 8,342 10,454 10,783 10,718 12,463 13,265 8,776 10,428 11,578 12,218 13,104 16,576 17,823 17,425 19,762 24,719

The Greens’ story









Historical facts










1991Gulf War














Dow closes at 8,766


The Greens’ average annual total return on this investment 10.29%

Ending value (12/31/17) 2,739,658

Invesco Equity and Income FundThe all weather investment portfolio

Invesco Equity and Income Fund has a seasoned management team watching over the fund day in, day out. Through all market conditions they adhere to a few time-tested management philosophies.

Reasons to investLong-term resultsInvesco Equity and Income Fund has delivered competitive performance through good and bad markets. The fund has provided equity-like returns about a third less risk versus its benchmark over the 10-year period.

Companies with potential for positive change The team uses a classic approach that seeks to convert business change into investment opportunity — be it new company management, new products or favorable industry trends.

Comprehensive diversification Owning both stocks and bonds may help to smooth out the market’s ups and downs. With Invesco Equity and Income Fund you get a broadly diversified portfolio of more than 300 stocks, bonds and convertible bonds.

The fund provided equity-like returns with about a third less risk

Higher risk %Lower risk %

Hig

her

retu

rns

%Lo

wer

ret

urns

%

0 5 10 15 20 25 30

2

4

6

8

10

12

14

16

Russell 1000 Value Index7.78 Return15.91 Standard deviation

Invesco Equity and Income Fund Class A shares7.59 Return11.40 Standard deviation

Source: StyleADVISOR. For the 10-year period ending March 31, 2018. Past performance is no guarantee of future results. Returns for Class A shares do not include sales charges. Risk is shown as percent standard deviation. An investment cannot be made directly in an index.

Diversification does not guarantee a profit or eliminate the risk of loss.

More than

300securities in the fund

11

12

The strategies The outcome Value on Dec. 31, 2017

$24,982

$794,771

$1,733,403

500,000 1,000,000 1,500,000 2,000,000

The Stevens decide to sellPhil and Norma Steven take their $6,950 and invest it in a fixed account earning an average annual return of 3 percent. The markets go up and down, but their portfolio stays steady. As of Dec. 31, 2017, their nest egg is worth just $24,982.

Playing it safe

Strategy: Sell

Total investment: $10,000

Average annual total return: 2.14%

The Ryans stay putWilliam and Jenny Ryan remain invested, but don’t add anything to their portfolio valued at $6,950. Thanks to this stay-put approach, by Dec. 31, 2017, the Ryans’ investment has grown to $794,771.

In patience, there is prudence

Strategy: Hold



The Andrews keep investingRobert and Barb Andrew stay the course. They remain invested and go a step further. Working with their advisor, the Andrews set up a systematic investment plan, adding $100 a month to their portfolio value of $6,950, beginning on Sept. 30, 1974.

The Andrews’ strategy — invest for the long term through both good and bad times — turns out nicely. On Dec. 31, 2017, their investment has grown to $1,733,403.

A buying opportunity realized

Strategy: Invest monthly


Average annual total return: 10.38%2

Three different strategies, three different outcomesThe Stevens, the Ryans and the Andrews

Economic and market downturns make it difficult to invest, or to stay invested. Consider the scenarios of three fictional couples who initially invested through a particularly stormy market — from Sept. 30, 1972, through Sept. 30, 1974.

The setup• The Stevens, the Ryans and the Andrews each invest $10,000 in Invesco Equity

and Income Fund on Sept. 30, 19721

• The S&P 500 Index falls 38.30 percent by Sept. 30, 1974• Each couple is left with $6,950• As a result, each couple chooses a different investment strategy

1 Ending balances include impact of 5.50% front-end sales load. An important note about systematic monthly investments (also known as “dollar-cost averaging”): Keep in mind that a program of regular investments cannot ensure a profit or protect against loss in a declining market. Because such a -program involves continuous investments regardless of fluctuating market values, you should consider your financial ability to continue the -program through all market cycles. Remember, these are hypothetical characters and examples that reflect periods of unprecedented growth. Such growth may not be repeatable or sustainable. Results are based on calendar year returns.


The strategies The outcome Value on Dec. 31, 2017

$24,982

$794,771

$1,733,403

500,000 1,000,000 1,500,000 2,000,000

The Stevens decide to sellPhil and Norma Steven take their $6,950 and invest it in a fixed account earning an average annual return of 3 percent. The markets go up and down, but their portfolio stays steady. As of Dec. 31, 2017, their nest egg is worth just $24,982.

Playing it safe

Strategy: Sell



The Ryans stay putWilliam and Jenny Ryan remain invested, but don’t add anything to their portfolio valued at $6,950. Thanks to this stay-put approach, by Dec. 31, 2017, the Ryans’ investment has grown to $794,771.

In patience, there is prudence

Strategy: Hold



The Andrews keep investingRobert and Barb Andrew stay the course. They remain invested and go a step further. Working with their advisor, the Andrews set up a systematic investment plan, adding $100 a month to their portfolio value of $6,950, beginning on Sept. 30, 1974.

The Andrews’ strategy — invest for the long term through both good and bad times — turns out nicely. On Dec. 31, 2017, their investment has grown to $1,733,403.

A buying opportunity realized

Strategy: Invest monthly


Average annual total return: 10.38%2

By using systematic investing, a proven strategy for weathering the market’s ups and downs, the Andrews were able to significantly grow their investment.

Key points• Expect market volatility• Take a long-term approach• Stay focused• Take advantage of market fluctuations with systematic investments

Past performance is no guarantee of future results. Investments cannot be made directly into an index.2 Average annualized money-weighted return (internal rate of return). Performance shown above is for Class A shares and includes payment of the maximum sales charge of 5.50% and Rule 12b-1 fees. Figures above assume reinvestment of all dividends and capital gains. Performance for other share classes will vary. Results are based on calendar year returns.

14

The worst time to retire?The Shepherds

A comfortable and happy retirement is a cornerstone of the American dream. But, for many, retirement is a source of anxiety, especially when the market takes a turn for the worse. The good news is that well-researched and well-timed systematic withdrawal plans can be just as powerful as systematic investment plans.

Take a look at another fictional couple and how Invesco Equity and Income Fund made a difference in their lives. Keep in mind that this is a hypothetical scenario, but is based on actual fund performance.

The setup• $100,000 rollover• 4.5% withdrawal rate• 3% annual inflation raise• Fear of running out of money• Investing at worst possible times

The Shepherds begin retirement On Dec. 31, 1972, Tom and Kerrie Shepherd began their retirement years. Working with their financial advisor, they invested $100,000 — a sizable portion of their retirement savings — in Invesco Equity and Income Fund.

Storm clouds? Little did they know, the bear market of 1973–74 was right around the corner. Some might have thought this would have resulted in disaster. But because the Shepherds stayed the course, there’s a far happier ending to their story.

What the Shepherds gainedSupplemental income. Tom and Kerrie began making annual withdrawals at year end, starting with $4,500 on Dec. 31, 1973. Each year, they increased the amount of their withdrawal by three percent. In other words, they had rising retirement income. By Dec. 31, 2017, Tom and Kerrie had withdrawn $417,240. This additional income helped pay for vacations, hobbies and home improvements.

A legacy for heirs. Even after paying a healthy retirement income, the Shepherds’ assets continued to grow significantly. In fact, as of Dec. 31, 2017, the hypothetical portfolio was valued at $2,505,017.1

1 Please see illustration on page 15.An important note about systematic withdrawal plans: Systematic withdrawal plans can have a significant effect on an investment. Redemptions may reduce or exhaust your account. There are differences in the taxation between withdrawals of principal, distributions and withdrawals of income; you should discuss these differences with your financial advisor and tax advisor. Invesco does not provide tax advice. Remember, these are hypothetical characters and examples that reflect periods of unprecedented growth. Such growth may not be repeatable or sustainable. Results are based on calendar year returns.

4.5%Withdrawal rate

$417,240withdrawn

$100,000Initial investment


1 The fund offers a reduced sales charge based on specified breakpoints. Performance shown above is for Class A shares and reflects breakpoint pricing with a sales charge of 3.50%, resulting in a net initial investment of $96,500. Performance includes Rule 12b-1 fees. The maximum sales charge for Class A shares is 5.50%. This is a hypothetical example. The illustration assumes reinvestment of all dividends and capital gains. Past performance is no guarantee of future results.

2 Average annualized money-weighted return (internal rate of return).

Even after withdrawals, the investment increases by 25 times over

45 years

The Shepherds’ retirement portfolioMore than 40 years later — and it’s still a nice retirement portfolio

Annual amount withdrawn $

Remaining portfolio value $

1972 — 96,5001

1973 4,500 77,216

1974 4,635 64,798

1975 4,774 78,297

1976 4,917 94,848

1977 5,065 93,151

1978 5,217 88,996

1979 5,373 92,060

1980 5,534 97,692

1981 5,700 99,758

1982 5,871 137,860

1983 6,048 166,594

1984 6,229 168,378

1985 6,416 192,169

1986 6,608 209,025

1987 6,807 206,190

1988 7,011 225,118

1989 7,221 266,837

1990 7,438 246,911

1991 7,661 305,101

1992 7,891 329,918

1993 8,128 374,577

1994 8,371 358,789

1995 8,622 467,096

1996 8,881 530,848

1997 9,148 649,794

1998 9,422 750,772

1999 9,705 815,769

2000 9,996 970,477

2001 10,296 938,540

2002 10,605 849,849

2003 10,923 1,027,253

2004 11,250 1,136,910

2005 11,588 1,214,228

2006 11,936 1,354,436

2007 12,294 1,386,297

2008 12,662 1,030,110

2009 13,042 1,259,247

2010 13,434 1,401,834

2011 13,837 1,370,755

2012 14,252 1,533,056

2013 14,679 1,901,028

2014 15,120 2,058,332

2015 15,573 1,994,388

2016 16,040 2,274,115

2017 16,522 2,505,017

Amount invested: $100,000

Total withdrawn + amount remaining on Dec. 31, 2017: $2,922,257

Average annual return as of Dec. 31, 2017: 9.79%2

Increasing retirement income

16

Building a future: The power of monthly investingThe Garritys

When Laura and David Garrity’s daughter, Ellen, was born in 1993, her happy grandparents gave the couple a gift of $5,000 for Ellen’s future. The Garritys’ financial advisor offered some great advice:

The setup• Invest in Invesco Equity and Income Fund• Add $200 to the fund each month• Increase their monthly contributions by 5 percent every year

The strategy worked. The chart below shows that the Garritys’ investment experienced ups and downs over the years. But they were more than prepared to help Ellen plan for her future endeavors.

Reaping the benefits of early planning and regular investing For the 25-year period ending Dec. 31, 2017

$358,651

12/1212/0812/0412/0012/9612/92 12/17

100,000

200,000

300,000

$400,000

Past performance is no guarantee of future results. Performance shown above is for Class A shares and includes payment of the maximum sales charge of 5.50% and Rule 12b-1 fees, resulting in a net initial investment of $4,725. Figures above assume reinvestment of all dividends and capital gains. Performance for other share classes will vary. This is a hypothetical example, and reflects periods of unprecedented growth. Such growth may not be repeatable or sustainable. Please see page 12, “An important note about systematic monthly investments.” Keep in mind that this is a hypothetical scenario, but is based on actual fund performance. Results are based on calendar year returns.

$5,000initial investment

$200added monthly to fund


The IRA advantage: Tax-deferred savingsThe high retirement cost of waiting

Waiting to start saving for the future could be more costly than you imagine. The longer you wait, the less time your money has to grow. The sooner you begin to save for your future, the greater the growth potential of your investment. By delaying your investment program even by a year it can make a difference in the total amount you end up with.

The chart below illustrates the advantage of investing in a tax-deferred account. If you were to invest $5,000 per year for 40 years at a 10% rate of return in a tax-deferred account, you would have almost doubled your investment compared to the taxable account.

Take advantage of tax-deferred savings – Individual Retirement Account (IRA)– Other tax-deferred savings accounts

Tax-deferred

Taxable

$2,434,259

$1,254,954

Earnings from tax-deferred accounts are subject to taxation as ordinary income upon withdrawal. This chart represents the growth of a hypothetical investment, assuming the stated annual nominal rate of return compounded monthly, over a specific time period. This example does not take into inflation or applicable fees into account and should not be considered to be representative of the performance of any specific investment product or investment strategy. For purposes of comparison, the taxable account is calculated using a 24% income tax bracket. Your actual annual rate of return could be more or less. Also, withdrawals from a tax-deferred IRA before age 59½ may be subject to a 10% penalty. The lower maximum tax rates on capital gains and qualified dividends would make the return on the taxable investment more favorable, thereby reducing the difference in performance between the accounts shown. The assumed rate of return is not guaranteed; rates of return may fluctuate over time and losses can occur. An investor should consider his or her own current and anticipated investment horizon and income tax bracket when making an investment decision.

In the chart below, if you began investing $400 a month in Invesco Equity and Income Fund when you were 25 years-old, your total investment would have been worth $2,550,279 when you turned 65. But if you waited a year and invested when you turned 26 years-old, you would have wound up with $2,252,706 — missing out on $297,573. So if you had started saving sooner rather than later you could have avoided the high cost of waiting as shown in this example.

High cost of waitingHypothetical value at age 65 (Data as of Dec. 31, 2017)

Age 2512/31/77

Starting saving at:Initial investment:

Age 2612/31/78

Age 4012/31/92

Age 3012/31/82

$2,550,279 $297,573 $1,270,132 $2,146,911

$2,252,706

$1,280,147

$403,368

Amount of savings High cost of waiting

Past performance is no guarantee of future results. Performance shown for Invesco Equity and Income Fund is for Class A shares and does not include sales charges. Results are hypothetical and are based on calendar year returns.

Explore High-Conviction Investing with Invesco

About risk Convertible securities may be affected by market interest rates, the risk of issuer default, the value of the underlying stock or the issuer’s right to buy back the convertible securities. An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating. Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested. The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. Preferred securities may include provisions that permit the issuer to defer or omit distributions for a certain period of time, and reporting the distribution for tax purposes may be required, even though the income may not have been received. Further, preferred securities may lose substantial value due to the omission or deferment of dividend payments. A value style of investing is subject to the risk that the valuations never improve or that the returns will trail other styles of investing or the overall stock markets. The fund is subject to certain other risks. Please see the current prospectus for more information regarding the risks associated with an investment in the fund.

Before investing, investors should carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. For this and more complete information about the fund(s), investors should ask their advisors for a prospectus/summary prospectus or visit invesco.com/fundprospectus

After July 31, 2018, this piece must be accompanied by the most recent quarter end Invesco Equity and Income Fund Fact Sheet.

The Russell 1000® Growth Index is an unmanaged index considered representative of large-cap growth stocks. The Russell 1000® Value Index is an unmanaged index considered representative of large-cap value stocks. The Russell Midcap® Index is an unmanaged index considered representative of mid-cap stocks. The Russell 2000® Index is an unmanaged index considered representative of small-cap stocks. The MSCI EAFE® Index is an unmanaged index considered representative of stocks of Europe, Australasia and the Far East. The FTSE NAREIT Equity REITs Index is an unmanaged index considered representative of US REITs. The S&P GSCI Index is an unmanaged world production-weighted index composed of the principal physical commodities that are the subject of active, liquid futures markets. The Bloomberg Barclays US Aggregate Index is an unmanaged index considered representative of the US investment-grade, fixed-rate bond market. The Barclays 1–3 Year Government/Credit Index is an unmanaged index considered representative of short-term US corporate and government bonds with maturities from one to three years. The Barclays US Corporate High Yield Index is an unmanaged index that covers the universe of fixed-rate, noninvestment-grade debt. The Barclays US MBS Fixed Rate Index is an unmanaged index comprising 15- and 30-year fixed-rate securities backed by mortgage pools of Ginnie Mae, Freddie Mac and Fannie Mae. The Barclays Corporate Investment Grade Index is an unmanaged index considered representative of fixed-rate, investment-grade taxable bond debt. The Barclays US Government Index is an unmanaged index considered representative of fixed income obligations issued by the US Treasury, government agencies and quasi-federal corporations. The Barclays Municipal Bond Index is an unmanaged index considered representative of the tax-exempt bond market. The Barclays Global Aggregate ex-US Index is an unmanaged index considered representative of bonds of foreign countries. US Three-Month Treasury Bills are government-backed short-term securities that mature three months from their issue date. The Consumer Price Index is an index representing the rate of inflation of US consumer prices as determined by the US Bureau of Labor Statistics.

The Russell 1000 Growth Index, Russell 1000 Value Index, Russell Midcap Index and Russell 2000 Index are trademarks/service marks of the Frank Russell Co. Russell® is a trademark of the Frank Russell Co. Index performance reflects reinvestment of dividends. An investment cannot be made directly in an index.

Standard Deviation measures a fund’s range of total returns and identifies the spread of a fund’s short-term fluctuations. Beta (cash adjusted) is a measure of relative risk and the slope of regression.

This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.

Note: All data as of March 31, 2018 and sourced to Invesco, unless otherwise noted. Not all products, materials or services available at all firms. Advisors, please contact your home office.

invesco.com/us VK-EQI-IVG-1 05/18 Invesco Distributors, Inc. US5216

Contact usFor more information, call your advisor or contact Invesco at 800 959 4246 from 7 a.m. to 6 p.m. Central time on weekdays. You can also visit us at invesco.com/us.

Documents

Invesco Equity and Income Fund investor guide (PDF) · Invesco Equity and Income Fund seeks to provide investors with a level of stability as ... Bloomberg Barclays U.S. Aggregate