Invesco Rochester AMT-Free New York Municipal Fund Q3 2025 Commentary (Mutual Fund:OPNYX)

Invesco US 3.3K Follower s Follow 5 Share Save Play ( 8min ) Comments Summary Invesco Rochester® AMT-Free New York Municipal Fund Class A shares at net asset value (NAV) underperformed its style-specific index, the S&P Municipal Bond New York 5+ Year Investment Grade Index. New municipal bond issuance reached $153 billion in the third quarter, bringing the year-to-date total to $437 billion. We believe state and municipal budgets remain healthy. We maintain an overweight position in revenue bonds relative to state and local general obligation bonds. With potential for further Fed rate cuts and steady new municipal issuance, we believe high absolute yields and strong fundamentals make municipals an appealing option. djedzura/iStock via Getty Images Key takeaways Fund performance Invesco Rochester® AMT-Free New York Municipal Fund (OPNYX, ONYIX, ONYRX) Class A shares at net asset value (NAV) underperformed its style-specific index, the S&P Municipal Bond New York 5+ Year Investment Grade Index (SPNY5IG). This article was written by Invesco US 3.3K Follower s Follow Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.Be the first to know! Sign up for Invesco US Blog and get expert investment views as they post.Disclosure for all Invesco US articles: Before investing, carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. The information provided is for educational purposes only and does not constitute a recommendation of the suitability of any investment strategy for a particular investor. Invesco does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Federal and state tax laws are complex and constantly changing. Investors should always consult their own legal or tax professional for information concerning their individual situation. The opinions expressed are those of the authors, are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals. NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE All data provided by Invesco unless otherwise noted. Invesco Distributors, Inc. is the US distributor for Invesco Ltd.’s retail products and collective trust funds. Invesco Advisers, Inc. and other affiliated investment advisers mentioned provide investment advisory services and do not sell securities. Invesco Unit Investment Trusts are distributed by the sponsor, Invesco Capital Markets, Inc., and broker-dealers including Invesco Distributors, Inc. PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC (Invesco PowerShares). Each entity is an indirect, wholly owned subsidiary of Invesco Ltd. ©2015 Invesco Ltd. All rights reserved.

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