Invesco V.I. Government Securities Fund
Data updated: 2026-08-25
C000000405 — Invesco V.I. Government Securities Fund. Long Securitized (MBS/ABS/CMBS) Bond · $304.48M AUM. Holdings, fees, performance and SEC filings.
C000000405 Fund Overview
Invesco V.I. Government Securities Fund is a US mutual fund managed by AIM Variable Insurance Funds (Invesco Variable Insurance Funds), categorised as Long Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: AIM Variable Insurance Funds (Invesco Variable Insurance Funds)
- Category: Long Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $304.48M
- 1-year return: 2.4%
- SEC CIK: 0000896435
- SEC series ID: S000000179
- Share class ID: C000000405
C000000405 Investment Objective and Strategy
Invesco V.I. Government Securities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by AIM Variable Insurance Funds (Invesco Variable Insurance Funds).
Investment objective
The Funds investment objective is total return, comprised of current income and capital appreciation.
Principal investment strategy
The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities issued, guaranteed or otherwise backed by the U.S. Government, its agencies, instrumentalities or sponsored corporations (each, a Federal Agency), and in derivatives and other instruments that have economic characteristics similar to such securities. These securities include: (1) direct obligations of the U.S. Treasury, including bills, notes and bonds, and (2) obligations issued or guaranteed by Federal Agencies and supported by (a) the full faith and credit of the U.S. Treasury, (b) the right of the issuer to borrow from the U.S. Treasury, or (c) the credit of the Federal Agency. The Fund primarily invests in fixed income securities of the following types: callable bonds that can be redeemed by the issuer prior to their stated maturity; bullet-maturity debt bonds with a stated maturity date; mortgage-backed securities (MBS) consisting of interests in underlying mortgages with maturities of up to thirty years; and U.S.
Treasury and Federal Agency holdings, including U.S. Treasury Inflation Protected Securities (TIPS). TIPS are publicly issued, dollar denominated U.S. government securities issued by the U.S. Treasury that have principal and interest payments linked to official inflation (as measured by the Consumer Price Index or CPI) and their payments are supported by the full faith and credit of the United States. The Fund may purchase mortgage-backed and asset-backed securities such as collateralized mortgage obligations (CMOs), collateralized loan obligations (CLOs) and collateralized debt obligations (CDOs). The Funds investments may include securities that do not produce immediate cash income, such as zero coupon securities and payment-in-kind securities. Some of the securities that the Fund invests in may be subject to resale restrictions and are exempt from registration under the Securities Act of 1933, as amended (Securities Act), such as those contained in Rule 144A promulgated under the Securities Act.
The Fund may purchase and sell securities on a when-issued and delayed delivery basis, which means that the Fund may buy or sell a security with payment and delivery taking place in the future. The Fund may also engage in to be announced (TBA) transactions, which are transactions in which a fund buys or sells mortgage-backed securities on a forward commitment basis. The Fund may engage in short sales of TBA mortgages, including short sales on TBA mortgages the Fund does not own. The Fund can invest in derivative instruments, including swap contracts, options and futures contracts. The Fund can use swap contracts, including interest rate swaps, to seek to hedge or adjust its exposure to interest rates. The Fund can further use volatility swaps and credit default swaps to manage interest rate exposure; and total return swaps to manage interest rate and credit exposures.
The Fund can use options, including swaptions (options on swaps), to manage interest rate risk. The Fund can further use options on bond or rate futures to manage interest rate exposure. The Fund can use futures contracts, including interest rate futures contracts, to increase or reduce exposure to changes in interest rates. The Fund can also use futures contracts, including Treasury futures, to gain exposure to the U.S. Treasury and Federal Agency MBS markets while deploying Fund assets in other securities. The portfolio managers utilize the Bloomberg Intermediate U.S. Government Index as a reference in structuring and reviewing the portfolio, but the Fund is not an index fund that seeks to replicate the performance of the index. The portfolio managers decide on appropriate risk factors such as duration, the shape of the U.S.
Treasury yield curve, Federal Agency exposure, Federal Agency MBS exposure, and TIPS exposure relative to this index. The portfolio managers then employ proprietary technology to calculate appropriate position sizes for each of these risk factors. In doing so, the portfolio managers consider recommendations from a globally interconnected team of specialist decision makers in positioning the Fund to generate alpha (return on investments in excess of the Bloomberg Intermediate U.S. Government Index). The portfolio managers generally rely upon a team of market-specific specialists for trade execution and for assistance in determining efficient ways (in terms of cost-efficiency and selection) to implement those recommendations. Although a variety of specialists provide input in the management of the Fund, the portfolio managers retain responsibility for ensuring the Fund is positioned appropriately in terms of risk exposures and position sizes.
Specialists employ a bottom-up approach to recommending larger or smaller exposure to specific risk factors. In general, specialists will look for attractive risk-reward opportunities and securities that best enable the Fund to pursue those opportunities. The portfolio managers consider the recommendations of these market-specific specialists in adjusting the Funds risk exposures and security selection on a real-time basis using proprietary communication technology. Decisions to purchase or sell securities are determined by the relative value considerations of the investment professionals that factor in economic and credit-related fundamentals, market supply and demand, market dislocations and situation-specific opportunities. The purchase or sale of securities may be related to a decision to alter the Funds macro risk exposure (such as duration, yield, curve positioning and sector exposure), a need to limit or reduce the Funds exposure to a particular security or issuer, degradation of an issuers credit quality, or general liquidity needs of the Fund.
The Fund invests in securities of all maturities, but will maintain a weighted average effective maturity for the portfolio of between three and ten years. In attempting to meet its investment objective or to manage subscription and redemption requests, the Fund may engage in active and frequent trading of portfolio securities.
C000000405 Holdings
Top 10 holdings of Invesco V.I. Government Securities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Uniform Mortgage-Backed Securities | 4.31% |
| Government National Mortgage Association | 3.90% |
| Government National Mortgage Association | 3.23% |
| U.S. Treasury Notes/Bonds | 3.20% |
| U.S. Treasury Notes/Bonds | 3.19% |
| U.S. Treasury Notes/Bonds | 3.15% |
| U.S. Treasury Notes/Bonds | 3.14% |
| Government National Mortgage Association | 3.00% |
| Standard Chartered Bank | 2.96% |
| Royal Bank of Canada | 2.96% |
C000000405 Portfolio Allocation
Asset-class allocation of Invesco V.I. Government Securities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 54.2% |
| Securitized | 53.3% |
| Other | 10.5% |
| Cash & Equivalents | 1.2% |
C000000405 Performance
Total returns for C000000405 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -0.2% |
| 1 year | 2.4% |
| 3 years (annualised) | 3.8% |
| 5 years (annualised) | -0.0% |
C000000405 Risk Information
Risk metrics for C000000405, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.9%
C000000405 Costs and Fees
C000000405 costs about $95 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.95%
- Gross expense ratio: 0.95%
- Portfolio turnover: 379%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000000405 Cashflows
Over the 12 months to 2026-06, Invesco V.I. Government Securities Fund had net outflows of $5.04M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $226.32K |
| 2026-05 | −$2.25M |
| 2026-04 | −$11.09M |
| 2026-03 | −$1.13M |
| 2026-02 | −$3.53M |
| 2026-01 | −$1.39M |
C000000405 Debt Constituents
Largest debt holdings of Invesco V.I. Government Securities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| U.S. Treasury Notes/Bonds | 3.20% |
| U.S. Treasury Notes/Bonds | 3.19% |
| U.S. Treasury Notes/Bonds | 3.15% |
| U.S. Treasury Notes/Bonds | 3.14% |
| Standard Chartered Bank | 2.96% |
| Royal Bank of Canada | 2.96% |
| U.S. Treasury Notes | 2.95% |
| Bank of Montreal | 2.63% |
| U.S. Treasury Notes | 2.40% |
| BNP Paribas S.A. | 2.30% |
C000000405 Prospectus and SEC Filings
Official Invesco V.I. Government Securities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-29
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus (485BPOS) — filed 2024-04-25
- Portfolio holdings (N-PORT) — filed 2026-08-25
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-17
Related Funds
Other Long Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.