Fund Facts  

Inception Date: Jul 28, 1997
CUSIP: 00888W403
Ticker Symbol: CNSAX
Morningstar Category:Convertibles
As of Sep 30, 2022
Fund Net Assets ($millions) $1,073

Documents for Fund or Underlying Fund(s)  



The investment seeks total return through growth of capital and current income.

Principal Investment Strategies  

The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in convertible securities, and in derivatives and other instruments that have economic characteristics similar to such securities. It may invest in below-investment-grade securities. The fund may invest up to 10% of its net assets in synthetic convertible securities and up to 25% of its net assets in exchangeable convertible securities.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.


Performance & Expenses

Standard Performance As of Sep 30, 2022
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Invesco Convertible Securitiesa-0.38%-18.79%-17.60%8.89%8.33%7.84%6.91%
ICE BofA All Convertibles All Qualities Indexa,b0.29%-19.98%-20.01%10.14%9.28%10.14%N/A
Morningstar Convertiblesa,c-1.31%-19.90%-19.07%7.57%7.38%8.30%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, participants or plan sponsors in a MissionSquare Retirement administered account can log in at, or institutions can go to

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesa
Gross Expenses0.88%
Net Expenses0.88%


a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2022 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Intercontinental Exchange Bank of America ("ICE BofA") All Convertibles All Qualities Index is an unmanaged index that measures convertible securities′ performance. It measures the performance of U.S. dollar-denominated convertible securities not currently in bankruptcy with a total market value greater than $50 million at issuance.

c. The Morningstar category average return represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.


Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Sep 22, 2022Sep 22, 2022$0.041600000
Jun 23, 2022Jun 23, 2022$0.041600000
Mar 24, 2022Mar 24, 2022$0.041600000
Dec 14, 2021Dec 14, 2021$7.097700000
Sep 23, 2021Sep 23, 2021$0.041200000
Jun 24, 2021Jun 24, 2021$0.062600000
Mar 25, 2021Mar 25, 2021$0.082600000
Dec 11, 2020Dec 11, 2020$3.154600000
Sep 17, 2020Sep 17, 2020$0.093300000
Jun 18, 2020Jun 18, 2020$0.097000000
Mar 19, 2020Mar 19, 2020$0.086900000
Dec 13, 2019Dec 13, 2019$1.067800000
Sep 19, 2019Sep 19, 2019$0.093000000
Jun 20, 2019Jun 20, 2019$0.089000000
Mar 21, 2019Mar 21, 2019$0.089100000
Dec 14, 2018Dec 14, 2018$2.169700000
Sep 13, 2018Sep 13, 2018$0.126800000
Jun 21, 2018Jun 21, 2018$0.162800000

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2022
Period Stars Category Size
Overall 3 Stars73
3-Year 3 Stars73
5-Year 3 Stars71
10-Year 3 Stars55

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating/40% three–year rating for 60–119 months of total returns, and 50% 10–year rating/30% five–year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Allocation of Assets As of Aug 31, 2022
Type of Asset Percent
Fixed Income90%

Due to rounding, percentages shown may not add up to 100%.



Allocation of Assets As of Aug 31, 2022
Asset ClassPercent
Domestic Stock4.7%
Foreign Stock0.0%
Domestic Bond0.0%
Foreign Bond0.0%

Due to rounding, percentages shown may not add up to 100%.


Top Ten Holdings As of Aug 31, 2022
Holding NamePercent
Invesco Shrt-Trm Inv Treasury Instl3.6%
Invesco Shrt-Trm Inv Gov&Agcy Instl3.2%
EQT Corporation 1.75%2.6%
Microchip Technology Incorporated 0.125%2.3%
Invesco Shrt-Trm Inv Liq Assets Instl2.3%
Pioneer Natural Resources Company 0.25%2.2%
Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L-2.2%
Palo Alto Networks Inc 0.75%2.1%
Bank of America Corp 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L-2.1%
NextEra Energy Inc Unit2.1%


Portfolio Statistics As of Sep 30, 2022
Standard Deviation16.7714.43



Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, or log in at

The source for this information is Morningstar, Inc. Copyright © 2022 Morningstar, Inc.™ All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with MissionSquare Retirement or its affiliates. MissionSquare Retirement does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.