Delaware International Small Cap Instl
Name
As of 08/30/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$49.3 M
Holdings in Top 10
21.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.23%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 95.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 08/30/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DGGIX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.10%
- Dividend Yield 0.6%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameDelaware International Small Cap Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateDec 29, 2008
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJoseph Devine
Fund Description
The Fund seeks to achieve its investment objective by investing primarily in common stocks of non-US companies, which may include companies located or operating in developed or emerging markets. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in small-capitalization equity securities (80% policy). The Fund’s 80% policy is nonfundamental and may be changed without shareholder approval. Fund shareholders would be given at least 60 days’ notice prior to any such change.
The Manager currently invests primarily in small-cap market capitalization companies domiciled outside of the United States. The Fund considers small-cap market capitalization companies to be companies with market capitalizations within the range of companies in the MSCI ACWI ex USA Small Cap Index at the time of purchase. January 31, 2023, this range of market capitalizations was between approximately $12.6 million and $7.6 billion. This range is subject to change with market fluctuations. The Fund may continue to hold securities of a company even if its current market cap later exceeds the market cap range of the MSCI ACWI ex USA Small Cap Index.
The Fund will invest at least 40% of its net assets in non-US securities. While the Fund invests primarily in developed markets (ex-US), the Fund may invest up to 30% of its net assets in emerging markets. The Fund will primarily invest in countries included in the MSCI ACWI ex USA Small Cap Index. Benchmark weightings may result in the Fund investing over 25% in any one country.
Using a bottom-up approach, the Manager will seek to select securities of companies that it believes are undergoing positive fundamental change, which may lead to better-than-expected earnings growth. The Manager believes that the magnitude and duration of growth driven by positive fundamental change is often underestimated and that the shares of companies experiencing such a change typically will continue to experience relative price strength and continue to outperform the broader market. The Manager may sell a security if it no longer believes that the security is likely to contribute to meeting the investment objective of the Fund or if there are other opportunities that appear more attractive.
The Manager may permit its affiliate, Macquarie Investment Management Global Limited (MIMGL), to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.
DGGIX - Performance
Return Ranking - Trailing
| Period | DGGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -15.1% | 18.0% | 95.38% |
| 1 Yr | N/A | -16.1% | 18.8% | 87.69% |
| 3 Yr | N/A* | -23.7% | 0.4% | 86.67% |
| 5 Yr | N/A* | -13.3% | 3.9% | 88.39% |
| 10 Yr | N/A* | -10.8% | 4.7% | 66.67% |
* Annualized
Return Ranking - Calendar
| Period | DGGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -28.0% | -46.4% | -21.4% | 31.78% |
| 2022 | 2.7% | -30.6% | 16.4% | 34.96% |
| 2021 | 23.7% | -1.5% | 62.8% | 36.59% |
| 2020 | 22.7% | 9.7% | 44.0% | 56.78% |
| 2019 | -23.4% | -51.1% | -3.5% | 51.79% |
Total Return Ranking - Trailing
| Period | DGGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -15.0% | 18.0% | 95.38% |
| 1 Yr | N/A | -16.0% | 18.8% | 87.69% |
| 3 Yr | N/A* | -23.5% | 3.3% | 86.67% |
| 5 Yr | N/A* | -8.2% | 6.2% | 88.39% |
| 10 Yr | N/A* | 1.4% | 8.1% | 66.67% |
* Annualized
Total Return Ranking - Calendar
| Period | DGGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -27.6% | -46.4% | -18.5% | 42.64% |
| 2022 | 8.6% | -30.6% | 24.7% | 70.73% |
| 2021 | 23.7% | 1.6% | 68.3% | 49.59% |
| 2020 | 23.2% | 9.7% | 44.0% | 83.90% |
| 2019 | -23.4% | -31.8% | -3.2% | 85.71% |
NAV & Total Return History
DGGIX - Holdings
Concentration Analysis
| DGGIX | Category Low | Category High | DGGIX % Rank | |
|---|---|---|---|---|
| Net Assets | 49.3 M | 1.52 M | 26.9 B | 74.63% |
| Number of Holdings | 110 | 30 | 1618 | 49.25% |
| Net Assets in Top 10 | 19.2 M | 398 K | 1.22 B | 72.39% |
| Weighting of Top 10 | 21.67% | 5.3% | 48.4% | 50.00% |
Top 10 Holdings
- K+S AG 3.32%
- K+S AG 3.32%
- K+S AG 3.32%
- K+S AG 3.32%
- K+S AG 3.32%
- K+S AG 3.32%
- K+S AG 3.32%
- K+S AG 3.32%
- K+S AG 3.32%
- K+S AG 3.32%
Asset Allocation
| Weighting | Return Low | Return High | DGGIX % Rank | |
|---|---|---|---|---|
| Stocks | 95.74% | 82.89% | 99.66% | 68.66% |
| Cash | 4.26% | 0.00% | 17.11% | 33.58% |
| Preferred Stocks | 0.00% | 0.00% | 0.67% | 60.45% |
| Other | 0.00% | -0.34% | 1.87% | 62.69% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 58.96% |
| Bonds | 0.00% | 0.00% | 0.13% | 60.45% |
DGGIX - Expenses
Operational Fees
| DGGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.23% | 0.01% | 22.37% | 62.10% |
| Management Fee | 0.85% | 0.00% | 1.75% | 26.12% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.05% | 0.26% | N/A |
Sales Fees
| DGGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| DGGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| DGGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 95.00% | 8.00% | 316.00% | 87.27% |
DGGIX - Distributions
Dividend Yield Analysis
| DGGIX | Category Low | Category High | DGGIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.56% | 0.00% | 1.84% | 13.43% |
Dividend Distribution Analysis
| DGGIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Net Income Ratio Analysis
| DGGIX | Category Low | Category High | DGGIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.10% | -1.81% | 1.51% | 56.59% |
Capital Gain Distribution Analysis
| DGGIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 19, 2022 | $0.040 | OrdinaryDividend |
| Dec 20, 2019 | $0.014 | OrdinaryDividend |
| Dec 23, 2014 | $0.124 | OrdinaryDividend |
| Dec 21, 2013 | $0.014 | OrdinaryDividend |
| Dec 28, 2009 | $0.027 | OrdinaryDividend |
DGGIX - Fund Manager Analysis
Managers
Joseph Devine
Start Date
Tenure
Tenure Rank
Nov 30, 2016
5.5
5.5%
Joseph Devine, Senior Vice President, Chief Investment Officer - Global Ex-US Equity, joined Macquarie Investment Management (MIM) in March 2016 as head of the Global Ex-US Equity team. Previously, he worked at UBS Asset Management from July 2007 to February 2016, first as senior portfolio manager and then as head of the Global ex-US Growth Equities team. Prior to UBS, Devine worked at Nicholas-Applegate Capital Management from July 2005 to July 2007 as lead portfolio manager for the Emerging Markets and Pacific Rim portfolios of the International Growth team. Prior to that, he was an Asian equity analyst at Duncan-Hurst Capital Management. Devine was also responsible for the firm's Global Emerging Markets portfolio. He previously held trading positions at Peregrine Investment Holdings in the Philippines and Singapore, and at Credit Suisse First Boston in Hong Kong and Singapore. Devine earned a bachelor's degree at the University of Southern California and an MBA at the Marshall School of Business at the University of Southern California.
Stephan Maikkula
Start Date
Tenure
Tenure Rank
Nov 30, 2016
5.5
5.5%
Vice President, Senior Portfolio Manager Stephan Maikkula joined Delaware Investments in March 2016 as a member of the Global Ex-U.S. Equity team. He is the lead portfolio manager for the firm’s International Small Cap Strategy. Previously, he worked at UBS Asset Management from July 2007 to February 2016 in various investment roles, leaving the firm as a portfolio manager on the Global ex-U.S. Growth Equities team. Prior to UBS, Maikkula worked at Nicholas-Applegate Capital Management as a generalist on the firm’s International Growth team, where he covered Europe. Previously, he was an analyst and portfolio manager with the Employees Retirement System of Texas. Prior to that, Maikkula was a portfolio manager for the MBA Investment Fund and an investment analyst intern at the Teacher Retirement System of Texas. He also worked for Cargill for six years in various commodity merchandising roles, providing fundamental and technical analysis of commodity markets. Maikkula earned a bachelor’s degree at St. John’s University and an MBA at the University of Texas at Austin. He is a member of the CFA Institute and the Market Technicians Association.
Gabriel Wallach
Start Date
Tenure
Tenure Rank
Nov 30, 2016
5.5
5.5%
Gabriel Wallach Vice President, Portfolio Manager Gabriel Wallach joined Delaware Investments in August 2016 as a portfolio manager for the Global Ex-U.S. Equity team. Previously, Wallach was a portfolio manager at North Grove Capital, a company he founded in August 2014 focused on emerging markets equities. From April 2004 to May 2014, he was CIO, global emerging markets equities at BNP Paribas Investment Partners managing several strategies, including global emerging markets equities, frontier markets equities, and regional funds investing in Latin America, Asia, and Europe, the Middle East, and Africa (EMEA), respectively. Before that, Wallach worked at Baring Asset Management from 1997 to 2003, first as head of Latin American equities and leaving the firm as a senior portfolio manager with the U.S. Equity team. Previously, he was a senior analyst at Fiduciary Trust Company, where he primarily focused on Latin America. Wallach earned his bachelor’s degree in economics from Hampshire College.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.17 | 28.52 | 5.42 | 0.17 |