In plain terms — Invesco Municipal Opportunity Trust
Shares currently cost about 2.5% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 2.9% discount, so today's level is not high for this fund (Z-score +0.4). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.6% a year of the share price (8.4% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.03 of assets — a ReinvestCapture™ rate of 8.8%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 5.8% over the past year including distributions (NAV total return).
Guided view hides the statistical panels. Switch to Expert view in the grey bar to see them. Nothing here is advice.
Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -1.43% | 1.79% | -0.45 | 55 |
| 6 months | -1.98% | 1.47% | -0.18 | 108 |
| 1 year | -2.92% | 1.72% | +0.39 | 206 |
| 3 years | -7.44% | — | — | — |
| 5 years | -8.07% | — | — | — |
Current contemporaneous premium/discount -2.24% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -6.19% to +1.08%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -8.64% | -13.26% | -10.45% | -12.28% | +0.91% | -8.92% |
| Market price total return | -7.30% | -10.84% | -3.75% | -3.88% | +8.65% | -2.85% |
| NAV return | -3.77% | -10.52% | -11.41% | -12.62% | -3.64% | -7.92% |
| NAV total return | -3.77% | -9.34% | -6.23% | -5.80% | +2.81% | -2.52% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Invesco Municipal Opportunity Trust is a closed-end mutual fund specializing in fixed-income investments, originally established by Invesco Ltd. A consortium of Invesco entities, including Invesco Advisers, Inc., INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc., collectively manages the fund. Its investment strategy focuses on the fixed-income sector within the United States, primarily allocating capital to high-quality municipal instruments such as bonds, notes, commercial paper, and lease obligations. The construction of its portfolio is based on a meticulous bottom-up security selection approach, driven by in-depth fundamental analysis. This U.S.-domiciled trust, which began operations on April 24, 1992, was previously identified as the Invesco Van Kampen Municipal Opportunity Trust.
CEF Explorer research page for Invesco Municipal Opportunity Trust. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.