Important information
NA5444226
An investment cannot be made into an index
Past performance is not a guarantee of future results.
The Fund’s value may be affected by changes in the stock markets. Stock markets may experience significant short-term volatility and may fall or rise sharply at times. Adverse events in any part of the equity or fixed income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets.
Active trading results in added expenses and may result in a lower return and increased tax liability.
Stocks of small and mid-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.
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.
Growth stocks tend to be more sensitive to changes in their earnings and can be more volatile.
The Fund’s value may be affected by changes in the stock markets. Stock markets may experience significant short-term volatility and may fall or rise sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets.
The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.
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.
The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations), and investors may not get back the full amount invested. The opinions expressed are those of the author as of April 20, 2026, and are based on current market conditions and subject to change without notice. These opinions may differ from those of other Invesco investment professionals.
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.
There is no guarantee that outlooks or forecasts will come to pass.
Forward price-to-earnings ratio is a variant of a company’s price-to-earnings ratio, and is calculated by dividing the company’s current share price by its expected earnings, usually for the next 12 months or next full fiscal year.
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.
The price-to-earnings (P/E) ratio measures a stock’s valuation by dividing its share price by its earnings per share.
The Russell 1000® Index is an unmanaged index considered representative of large-cap stocks and is a trademark/service mark of the Frank Russell Co.®.
The Russell 2000® Index measures the performance of small-capitalization stocks and is a trademark/service mark of the Frank Russell Co.®.
The Russell 3000® Index is an unmanaged index considered representative of the US stock market. An investment cannot be made directly in an index.
The Russell Midcap® Growth Index measures the performance of the mid-cap growth segment of the US equity universe.
The Russell Midcap® Index, a trademark/service mark of the Frank Russell Co.®, is an unmanaged index considered representative of mid-cap stocks.
The S&P 500® Index is an unmanaged index considered representative of the US stock market.
Stocks of medium-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.
Stocks of small- and mid-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.
Many products and services offered in technology-related industries are subject to rapid obsolescence, which may lower the value of the issuers.
In general, stock values fluctuate, sometimes widely, in response to activities specific to the company as well as general market, economic, and political conditions.
The opinions referenced above are those of the author as of April 20, 2026. These comments should not be construed as recommendations, but as an illustration of broader themes. Forward-looking statements are not guarantees of future results. They involve risks, uncertainties, and assumptions; there can be no assurance that actual results will not differ materially from expectations.
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