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Invesco MSCI World SRI Index Fund•

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Invesco MSCI World SRI Index Fund• Mutual Fund Retail Share Classes Invesco MSCI World Data as of June 30, 2021 SRI Index Fund• Quarterly Performance Limited Offering Commentary Investment objective Market overview The fund seeks long-term growth of capital. + US equity markets hit record highs during the recovery in corporate earnings, improved investor quarter thanks to a third round of pandemic-relief sentiment, vaccine rollouts and the easing of Portfolio management checks, healthy corporate earnings reports and an pandemic restrictions. However, inflation aggressive vaccination program. Increased remained a top concern in Europe due to figures Su-Jin Fabian, Nils Huter, Robert Nakouzi, Daniel economic activity raised inflation concerns, but released by Germany, Italy and Spain that Tsai, Ahmadreza Vafaeimehr investors were not deterred. President Biden's demonstrated continued price pressure. At the agreement on a $1.2 trillion infrastructure plan end of June, European stocks fell on concerns sent stocks higher at the end of the June. about the spread of the COVID-19 Delta variant. Fund facts European equity markets also rose, driven by a Nasdaq A: VSQAX C: VSQCX Y: VSQYX Positioning and outlook Total Net Assets $11,702,613 + The fund is a passively managed portfolio seeking + The MSCI World SRI Index targets about 25% of Total Number of Holdings 355 to closely track the MSCI World SRI Index. the parent index (MSCI World Index) market capitalization in companies with high ESG ratings Annual Turnover (as of 118% + Country, sector and security weights will closely mirror those of the index. compared to their sector peers, and applies a list 10/31/20) of values-based exclusion criteria, such as + As of quarter end, the largest sector weights were controversial weapons, tobacco, alcohol, gambling, in IT, financials, consumer discretionary and health etc. The index also excludes companies involved in Top holdings % of total net assets care. The largest country weights were in the US, material ESG controversies. Microsoft 12.60 Japan and Canada. Tesla 3.42 Performance highlights Nvidia 3.25 + As the fund is passively managed relative to its benchmark, the fund’s Class A shares at net asset value Home Depot 2.26 (NAV) performed in line with the MSCI World SRI Index for the second quarter. (Please see the investment Walt Disney 2.11 results table on page 2 for fund and index performance.) ASML 1.89 + The MSCI World SRI Index outperformed its parent benchmark, the broader MSCI World Index, by 0.36%, Roche NES 1.76 due to its focus on companies with good MSCI environmental, social and governance (ESG) ratings, as well as the exclusion of companies and sectors that don’t meet ESG standards. Cisco Systems 1.48 + By sector, the key contributors to the fund’s performance were information technology (IT) and health Coca-Cola 1.47 care. All sectors provided positive returns. PepsiCo 1.36 + Geographically, about two thirds of the fund’s performance came from US companies, in line with their share of the fund’s total net assets. This was followed by marginal contributions from Canada and Switzerland. Only Japan detracted from results. Top contributors % of total net assets Contributors to performance 1. Microsoft 12.60 + The largest individual contributor to performance was Microsoft, which had a 15.09% return for the 2. Nvidia 3.25 quarter. Microsoft is the fund’s single largest holding at 12.60% of total net assets. 3. Shopify 1.09 + Other notable contributors were NVIDIA, Shopify, Roche and ASML, all of which returned between 13% 4. Roche 1.76 and 50% for the quarter. 5. ASML 1.89 Detractors from performance + Walt Disney was the largest individual detractor from second quarter performance. Disney returned - 4.74% and is the fund’s fifth largest holding, representing 2.11% of total net assets as of quarter end. Top detractors % of total net assets + Daiichi Sankyo, Sony and Truist Financial also detracted from fund results, with individual returns ranging 1. Walt Disney 2.11 from -7 to -23%. However, the impact of these holdings was minimal as they are smaller positions. 2. Daiichi Sankyo 0.00 3. Sony 0.83 4. Truist Financial 0.50 5. Caterpillar 0.77 Not a deposit; Not FDIC insured; Not guaranteed by the bank; May lose value; Not insured by any federal agency The fund’s positioning versus the Investment results MSCI World SRI Index-NR (% underweight/overweight) Average annual total returns (%) as of June 30, 2021 Class A Shares Class C Shares Class Y Shares Consumer 0.00 Discretionary Inception: Inception: Inception: Broad-Based Index 07/01/16 07/01/16 07/01/16 Energy 0.00 Max Max Load CDSC MSCI World SRI Communication -0.01 Services Period 5.50% NAV 1.00% NAV NAV Index-NR Inception 9.32 10.56 9.73 9.73 10.84 - Real Estate -0.01 3 Years 6.38 8.41 7.57 7.57 8.68 17.31 1 Year 29.55 37.14 35.07 36.07 37.51 37.14 Consumer Staples -0.01 Quarter 2.22 8.17 6.91 7.91 8.20 8.10 Performance quoted is past performance and cannot guarantee comparable future results; current performance Materials -0.01 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 Utilities and principal value will vary, and you may have a gain or a loss when you sell shares. No contingent deferred -0.01 sales charge (CDSC) will be imposed on redemptions of Class C shares following one year from the date shares were purchased. Performance shown at NAV does not include applicable CDSC or front-end sales charges, which would have reduced the performance. Class Y shares have no sales charge; therefore, performance is at Industrials -0.02 NAV. Returns less than one year are cumulative; all others are annualized. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed Information -0.03 expenses currently or in the past, returns would have been lower. See current prospectus for more information. Technology Index returns do not reflect any fees, expenses, or sales charges. Index source: FactSet Research Systems Inc. Health Care -0.03 Expense ratios % net % total Asset mix (%) Financials -0.03 Class A Shares 0.44 2.70 Domestic Common Stock 60.22 -5 05Class C Shares 1.19 3.45 International Common Stock 34.79 Class Y Shares 0.19 2.45 Cash 4.86 Per the current prospectus Other 0.13 Net = Total annual operating expenses less any contractual fee waivers and/or expense reimbursements by the adviser in effect through at least Feb. 28, 2022. See current prospectus for more information. For more information you can visit us at www.invesco.com/us As of the open of business on June 29, 2020, the fund limited public sales of its shares to certain investors. For more information on who may invest in the fund, please see the prospectus. • Effective June 29, 2020, the Invesco Global Responsibility Equity Fund was renamed Invesco MSCI World SRI Index Fund and also changed its investment strategy from an actively managed portfolio to an indexing strategy based on the MSCI World SRI Index. Results prior to June 29, 2020, reflect the fund's previous strategy. Please see the prospectus for additional information. Class Y shares are available only to certain investors. See the prospectus for more information. The fund holdings are organized according to the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI Inc. and Standard & Poor’s. The S&P 500® Index is an unmanaged index considered representative of the US stock market. An investment cannot be made directly in an index. The MSCI World SRI IndexSM includes large and mid-cap stocks across 23 Developed Markets (DM) countries. The index is a capitalization weighted index that provides exposure to companies with outstanding Environmental, Social and Governance (ESG) ratings and excludes companies whose products have negative social or environmental impacts. An investment cannot be made directly in an index. About risk 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. The performance of an investment concentrated in issuers of a certain region or country is expected to be closely tied to conditions within that region and to be more volatile than more geographically diversified funds. Because the fund operates as a passively managed index fund, adverse performance of a particular security ordinarily will not result in its elimination from the fund's portfolio. Ordinarily, the Adviser will not sell the fund’s portfolio securities except to reflect changes in the securities that comprise the Index, or as may be necessary to raise cash to pay fund shareholders who sell fund shares. 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. The Fund may become "non-diversified," as defined under the Investment Company Act of 1940, as amended, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the Index. Shareholder approval will not be sought when the Fund crosses from diversified to non-diversified status under such circumstances.
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