Invesco Short Term Municipal Fund Class Y is an actively managed mutual fund specializing in short-term municipal bonds. The fund’s primary objective is to generate tax-free income by investing in a diversified portfolio of municipal securities, such as municipal bonds, notes, leases, and tax-exempt commercial paper issued by various U.S. states and localities. By focusing on securities with an average effective maturity of two years or less, the fund aims to limit interest rate risk and manage overall portfolio volatility, making it a notable option for those seeking a conservative approach within municipal debt instruments. Key features include a rigorous, bottom-up research process for credit selection and an experience-driven focus on maximizing income potential through competitive monthly distributions. The fund has historically demonstrated solid risk-adjusted performance, ranking highly among its short municipal debt peers over the last decade, and has received positive ratings for consistency and downside risk management. Invesco Short Term Municipal Fund Class Y caters primarily to institutional and qualified investors, given the limited availability of this share class, and plays a significant role in providing tax-advantaged income solutions in the fixed income sector.