VMIIX Fees and Costs — Invesco Municipal Income Fund, Class Y
Data updated: 2026-07-30
The net expense ratio is 0.86%: a 0.46% management fee plus 0.40% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4K in broker commissions, 0.0001% of average net assets, and portfolio turnover was 30%.
VMIIX Fees and Expenses
Annual operating expenses and sales charges of VMIIX. Prospectus, as of June 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.46% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.40% |
| Gross expense ratio | 0.86% |
| Fee waiver | — |
| Net expense ratio | 0.86% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
VMIIX Costs Over Time
On $10,000 invested in VMIIX, assuming 5% a year before costs, total costs come to $540 over 5 years, cutting the return by 0.90% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.86%) | $90 | $282 | $490 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $90 | $296 | $540 |
| Value after costs | $10,410 | $11,280 | $12,223 |
| Impact on return, per year | 0.90% | 0.90% | 0.90% |
VMIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $2.9B
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
VMIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $2K | 41.32% |
| JANE STREET EXECUTION SERVICES, LLC | $2K | 36.89% |
| CITADEL SECURITIES LLC | $688 | 16.70% |
| FLOW TRADERS U.S. INSTITUTIONAL TRADING LLC | $178 | 4.31% |
| OLD MISSION MARKETS LLC | $32 | 0.78% |
VMIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $335.9M | 15.00% |
| WELLS FARGO SECURITIES, LLC | $272.9M | 12.19% |
| PERSHING LLC | $234.4M | 10.47% |
| J.P. MORGAN SECURITIES LLC | $232.2M | 10.37% |
| RBC CAPITAL MARKETS, LLC | $220.9M | 9.86% |
| JEFFERIES LLC | $198.0M | 8.84% |
| BARCLAYS CAPITAL INC. | $192.7M | 8.60% |
| FMSBONDS, INC. | $191.7M | 8.56% |
| BOFA SECURITIES, INC. | $191.0M | 8.53% |
| UBS FINANCIAL SERVICES INC. | $169.9M | 7.59% |
Invesco Municipal Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VKMSX | Class R6 | 0.81% | none |
| VMIIX | Class Y | 0.86% | none |
| VMINX | Investor Class | 1.00% | none |
| VKMMX | Class A | 1.11% | 4.25% |
| VMICX | Class C | 1.86% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.