DLMAX: Delaware Mid Cap Value A

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DLMAX Delaware Mid Cap Value A


Profile

DLMAX - Profile

Vitals

  • YTD Return -24.6%
  • 3 Yr Annualized Return -5.0%
  • 5 Yr Annualized Return -1.3%
  • Net Assets $73 M
  • Holdings in Top 10 20.8%

52 WEEK LOW AND HIGH

$5.02
$3.61
$6.73

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.06%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 12.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $250

Fund Classification


Distributions

  • YTD Total Return -24.6%
  • 3 Yr Annualized Total Return -4.6%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.39%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Delaware Mid Cap Value Fund
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Feb 01, 2008
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Christopher Beck

Fund Description

The fund invests primarily in investments of medium-sized companies whose stock prices appear low relative to their underlying value or future potential. Under normal circumstances, at least 80% of the fund's net assets, plus the amount of any borrowings for investment purposes, will be in investments of medium-sized companies. The adviser considers medium-sized companies to be those companies whose market capitalizations fall within the range represented in the Russell Midcap® Value Index at the time of the fund's investment.


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Categories

Performance

DLMAX - Performance

Return Ranking - Trailing

Period DLMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -24.6% -33.0% 0.0% 84.13%
1 Yr -19.3% -92.8% 9.1% 57.33%
3 Yr -5.0%* -57.9% 2.6% 17.25%
5 Yr -1.3%* -39.4% 4.8% 22.01%
10 Yr -4.1%* -18.6% 9.0% 94.50%

* Annualized

Return Ranking - Calendar

Period DLMAX Return Category Return Low Category Return High Rank in Category (%)
2019 28.8% -92.4% 35.0% 3.50%
2018 -19.0% -36.8% -7.9% 32.87%
2017 15.4% -16.5% 19.3% 4.91%
2016 16.9% -14.6% 28.1% 31.75%
2015 -6.3% -36.5% 0.2% 16.72%

Total Return Ranking - Trailing

Period DLMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -24.6% -33.0% 0.0% 84.13%
1 Yr -19.3% -92.8% 9.1% 57.33%
3 Yr -4.6%* -57.7% 4.3% 36.84%
5 Yr 0.5%* -39.0% 7.3% 29.77%
10 Yr 7.0%* -18.4% 10.6% 31.65%

* Annualized

Total Return Ranking - Calendar

Period DLMAX Return Category Return Low Category Return High Rank in Category (%)
2019 28.8% -92.4% 35.0% 3.50%
2018 -19.0% -32.7% -4.1% 56.82%
2017 16.8% 0.5% 26.9% 11.04%
2016 18.6% -2.5% 29.0% 37.78%
2015 -0.2% -25.7% 5.0% 9.36%

NAV & Total Return History


Holdings

DLMAX - Holdings

Concentration Analysis

DLMAX Category Low Category High DLMAX % Rank
Net Assets 73 M 708 K 17.3 B 83.81%
Number of Holdings 97 8 2444 39.95%
Net Assets in Top 10 15.2 M 157 K 2.57 B 85.64%
Weighting of Top 10 20.77% 8.1% 99.9% 55.87%

Top 10 Holdings

  1. Synopsys Inc 3.52%
  2. East West Bancorp Inc 2.09%
  3. Raymond James Financial Inc 2.08%
  4. ITT Inc 1.99%
  5. KBR Inc 1.97%
  6. Teradyne Inc 1.90%
  7. Public Service Enterprise Group Inc 1.85%
  8. Berry Global Group Inc 1.85%
  9. CMS Energy Corp 1.78%
  10. Hess Corp 1.73%

Asset Allocation

Weighting Return Low Return High DLMAX % Rank
Stocks
98.99% 85.33% 100.41% 28.72%
Cash
0.86% -0.41% 14.67% 72.06%
Other
0.15% -0.06% 4.04% 1.04%
Preferred Stocks
0.00% 0.00% 0.34% 95.56%
Convertible Bonds
0.00% 0.00% 0.02% 95.56%
Bonds
0.00% 0.00% 1.41% 96.08%

Stock Sector Breakdown

Weighting Return Low Return High DLMAX % Rank
Financial Services
19.06% 0.76% 33.08% 53.52%
Industrials
15.93% 0.00% 27.21% 39.16%
Technology
12.76% 0.00% 24.16% 23.24%
Consumer Cyclical
12.42% 1.31% 24.09% 36.55%
Real Estate
9.43% 0.00% 19.27% 45.69%
Utilities
8.27% 0.00% 17.40% 43.60%
Healthcare
7.05% 2.25% 44.74% 78.59%
Basic Materials
5.06% 0.00% 21.15% 60.84%
Consumer Defense
5.05% 0.00% 25.37% 59.79%
Energy
3.41% 0.00% 17.69% 47.78%
Communication Services
1.54% 0.00% 28.56% 76.76%

Stock Geographic Breakdown

Weighting Return Low Return High DLMAX % Rank
US
97.86% 80.21% 99.82% 17.49%
Non US
1.13% 0.00% 13.80% 78.59%

Expenses

DLMAX - Expenses

Operational Fees

DLMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.06% 0.07% 27.75% 7.07%
Management Fee 0.75% 0.00% 1.20% 73.63%
12b-1 Fee 0.25% 0.00% 1.00% 62.13%
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

DLMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.50% 5.75% 46.15%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DLMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

DLMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 6.00% 204.00% 7.96%

Distributions

DLMAX - Distributions

Dividend Yield Analysis

DLMAX Category Low Category High DLMAX % Rank
Dividend Yield 0.00% 0.00% 12.68% 95.82%

Dividend Distribution Analysis

DLMAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Semi-Annually Semi-Annually

Net Income Ratio Analysis

DLMAX Category Low Category High DLMAX % Rank
Net Income Ratio 0.39% -0.89% 2.53% 85.94%

Capital Gain Distribution Analysis

DLMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

DLMAX - Fund Manager Analysis

Managers

Christopher Beck


Start Date

Tenure

Tenure Rank

Feb 01, 2008

12.42

12.4%

Christopher S. Beck, CFA Executive Director, Chief Investment Officer — US Small-Mid Cap Value Equity Christopher S. Beck leads the firm’s US Small-Mid Cap Value Equity team. He is also a member of the Macquarie Investment Management (MIM) Global Management Committee. Prior to joining MIM in 1997 as a vice president and senior portfolio manager, he was vice president at Pitcairn Trust from 1995 to 1997, where he managed small-capitalization stocks and analyzed equity sectors. Before that he was chief investment officer of the University of Delaware from 1992 to 1995 and held management positions during his seven years at Cypress Capital Management and four years at Wilmington Trust. Beck earned a bachelor’s degree at the University of Delaware and an MBA from Lehigh University, and he is a member of the CFA Society of Philadelphia and past president of the Wilmington Society of Securities Analysts.

Steven Catricks


Start Date

Tenure

Tenure Rank

Jul 01, 2012

8.0

8.0%

Steven G. Catricks is a senior portfolio manager, focusing on the technology, health carr the US Small-Mid Cap Value Equity team, a role he assumed in July 2012. He joined the team in October 2010 as a senior equity analyst. He is responsible for the analysis, purchase, and telsale recommunicendation services sectors, for the firm’s Strategic Equity teams of technology and business services securities for the firm’s US Small-Mid Cap Value Equity portfolios. Prior to joining the US Small-Mid Cap Value Equity team, he was a portfolio manager for the firm’s Strategic Small-Cap Value team, focusing on the technology, healthcare, and telecommunication services sectors. Steven G. Catricks is a portfolio manager, focusing on the technology, health care, and telecommunication services sectors, for the firm’s Strategic Equity team. He joined Delaware Investments in 2001 as an equity analyst, performing research and analysis for the firm’s Emerging Growth Equity team. Previously, he was an equity analyst at BlackRock Financial from 1999 to 2001, where he specialized in small-capitalization growth stocks. He also worked as a systems engineer at Dow Jones/Factiva, and as a senior systems engineer at GE Aerospace/Lockheed Martin. He started his career as a systems engineer at the Naval Air Development Center, where he spent 15 years. Catricks holds a bachelor’s degree in electrical engineering from Drexel University and a master’s degree in engineering from the University of Pennsylvania, and has nearly 20 years of experience in the technology industry. Catricks is a member of the Institute of Electrical and Electronics Engineers.

Kent Madden


Start Date

Tenure

Tenure Rank

Jul 01, 2012

8.0

8.0%

Michael Foley is a senior portfolio manager for the US Small-Mid Cap Value Equity team, a role he assumed in July 2019.Kent P. Madden is a portfolio manager for the Small-Cap Value / Mid-Cap Value Equity team. He joined the team in December 2004 as an equity analyst and was promoted to senior equity analyst in October 2010. He is responsible for the analysis, purchase, and sale recommendations of consumer services, consumer cyclicals, consumer staples, healthcare, and transportation stocks for the firm’s Small-Cap Value / Mid-Cap Value portfolios. Prior to joining Delaware Investments, he was an equity analyst at Gartmore Global Investments, where he specialized in technology and telecommunications. He has also worked as an equity analyst for Federated Investors, where he gained experience covering small-capitalization consumer stocks, and Lehman Brothers as a corporate finance analyst. Madden holds a bachelor’s degree in economics from DePauw University and an MBA from the University of Chicago.

Kelley Carabasi


Start Date

Tenure

Tenure Rank

Jul 01, 2012

8.0

8.0%

Kelley McKee Carabasi is a senior portfolio manager for the US Small-Mid Cap Value Equity team. She assumed portfolio management responsibilities in July 2012. She joined the team in July 2005 as an equity analyst. Prior to joining Macquarie Investment Management (MIM) she participated in Lincoln Financial Group’s rotational Professional Development Program for three years. Carabasi earned a bachelor's degree in finance from Georgetown University and an MBA from The Wharton School of the University of Pennsylvania.

Michael Foley


Start Date

Tenure

Tenure Rank

Jul 01, 2019

1.0

1.0%

Michael Foley is a senior portfolio manager for the US Small-Mid Cap Value Equity team, a role he assumed in July 2019. He joined Macquarie Investment Management (MIM) in February 2015 as a senior equity analyst for the US Small-Mid Cap Value Equity team. Foley is responsible for the analysis, purchase, and sale recommendations of financial services and real estate investment trust (REIT) securities for the firm’s US Small-Mid Cap Value Equity portfolios. Prior to joining the firm, Foley was an associate at Patriot Financial Partners, a private equity firm, from August 2011 to February 2015, focusing on the analysis of companies in the financial services sector. He started his career with Janney Montgomery Scott where he worked as an investment banking analyst within the financial institutions group from August 2009 to August 2011. Foley earned a bachelor’s degree in economics with dual concentrations in finance and accounting from The Wharton School of the University of Pennsylvania.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.67 7.76 9.01