Name
As of 10/27/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.9%
1 yr return
2.0%
3 Yr Avg Return
37.8%
5 Yr Avg Return
26.1%
Net Assets
$314 M
Holdings in Top 10
17.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.01%
SALES FEES
Front Load 4.50%
Deferred Load N/A
TRADING FEES
Turnover 72.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$750
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/27/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
IBJAX - Profile
Distributions
- YTD Total Return -1.9%
- 3 Yr Annualized Total Return 37.8%
- 5 Yr Annualized Total Return 26.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.89%
- Dividend Yield 4.5%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameDelaware Ivy Corporate Bond Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateOct 13, 2017
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKashif Ishaq
Fund Description
Delaware Ivy Corporate Bond Fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in corporate bonds (also referred to as corporate “debt securities” or “fixed-income securities”). For this purpose, “corporate bonds” includes any debt security issued by a domestic or foreign company with an initial maturity greater than one year. The Fund invests primarily in investment-grade debt securities (including bonds rated BBB- or higher by S&P Global Ratings, a division of S&P Global, Inc. (S&P), or comparably rated by another nationally recognized statistical rating organization (NRSRO) or, if unrated, determined by the Manager to be of comparable quality). The Fund has no limitations regarding the duration or dollar-weighted average of its holdings, may invest in debt securities with varying maturities and can invest in debt securities issued by both domestic and foreign companies, in a variety of sectors and industries. The Fund may invest significantly in debt securities payable from the same sector.
In selecting debt securities for the Fund, the Manager looks at a number of factors, including both a top-down (assessing the market environment) and a bottom-up (researching individual issuers) analysis. The top-down analysis looks at broad economic and financial trends in an effort to anticipate their impact on the fixed-income market and seeks to identify certain criteria that contribute to the overall target portfolio characteristics such as duration, spread, ratings and liquidity. The bottom-up analysis seeks to identify securities that the Manager believes have favorable risk/reward characteristics and targets those securities for overweight positioning. From the sector level, the Manager identifies companies that have positive attributes and considers the issuer’s past, present and estimated future: financial strength, cash flow, management, borrowing requirements, balance sheet policy and relative safety. Additional factors considered include leverage, interest coverage, revenue and margin stability, competition and industry trends, as well as relative value and liquidity.
Generally, in determining whether to sell a security, the Manager uses the same type of analysis that it uses in buying securities. For example, the Manager may sell a holding if, in the Manager’s opinion, the issuer’s financial strength weakens and/or the yield and relative safety of the security decline. The Manager also may sell a security to reduce the Fund’s holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.
The Manager may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), Macquarie Investment Management Europe Limited (MIMEL), and Macquarie Investment Management Global Limited (MIMGL) (together, the “Affiliated Sub-Advisors”). The Manager may also permit these Affiliated Sub-Advisors to execute Fund security trades on behalf of the Manager and exercise investment discretion for securities in certain markets where the Manager believes it will be beneficial to utilize an Affiliated Sub-Advisor’s specialized market knowledge.
IBJAX - Performance
Return Ranking - Trailing
Period | IBJAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.9% | -7.2% | 4.5% | 95.98% |
1 Yr | 2.0% | -9.6% | 5.6% | 87.44% |
3 Yr | 37.8%* | -10.4% | 38.2% | 1.55% |
5 Yr | 26.1%* | -3.2% | 26.9% | 2.84% |
10 Yr | N/A* | 0.4% | 14.2% | 96.21% |
* Annualized
Return Ranking - Calendar
Period | IBJAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 143.6% | -28.7% | 144.0% | 2.01% |
2022 | -5.7% | -12.3% | 4.9% | 82.56% |
2021 | 2.9% | -8.0% | 10.6% | 94.12% |
2020 | 8.9% | 4.3% | 13.4% | 76.27% |
2019 | -4.3% | -10.4% | -2.0% | 7.27% |
Total Return Ranking - Trailing
Period | IBJAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.9% | -7.2% | 4.5% | 95.98% |
1 Yr | 2.0% | -9.6% | 5.6% | 87.44% |
3 Yr | 37.8%* | -10.4% | 38.2% | 1.55% |
5 Yr | 26.1%* | -3.2% | 26.9% | 2.84% |
10 Yr | N/A* | 0.4% | 14.2% | 98.48% |
* Annualized
Total Return Ranking - Calendar
Period | IBJAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 149.3% | -25.6% | 151.8% | 3.02% |
2022 | -0.9% | -5.1% | 7.5% | 61.54% |
2021 | 15.8% | -8.0% | 223.8% | 4.81% |
2020 | 11.6% | 6.7% | 17.4% | 82.49% |
2019 | -1.8% | -6.9% | 0.3% | 13.33% |
NAV & Total Return History
IBJAX - Holdings
Concentration Analysis
IBJAX | Category Low | Category High | IBJAX % Rank | |
---|---|---|---|---|
Net Assets | 314 M | 2.62 M | 39.6 B | 61.50% |
Number of Holdings | 185 | 4 | 9807 | 90.50% |
Net Assets in Top 10 | 56.1 M | -29.6 M | 2.94 B | 56.50% |
Weighting of Top 10 | 17.48% | 1.7% | 100.0% | 25.00% |
Top 10 Holdings
- Goldman Sachs Group Inc/The 2.18%
- Amazon.com Inc 2.14%
- Bank of America Corp 1.84%
- Colorado Interstate Gas Co LLC / Colorado Interstate Issuing Corp 1.79%
- Equinix Inc 1.70%
- Fiserv Inc 1.66%
- Clorox Co/The 1.64%
- Adobe Inc 1.61%
- Citigroup Inc 1.49%
- NVR Inc 1.44%
Asset Allocation
Weighting | Return Low | Return High | IBJAX % Rank | |
---|---|---|---|---|
Bonds | 99.85% | 0.00% | 136.47% | 5.00% |
Convertible Bonds | 0.98% | 0.00% | 78.47% | 88.00% |
Cash | 0.15% | -43.80% | 21.21% | 97.50% |
Stocks | 0.00% | 0.00% | 99.96% | 81.50% |
Preferred Stocks | 0.00% | 0.00% | 9.18% | 80.50% |
Other | 0.00% | -1.57% | 13.02% | 82.50% |
Bond Sector Breakdown
Weighting | Return Low | Return High | IBJAX % Rank | |
---|---|---|---|---|
Corporate | 93.99% | 41.80% | 100.00% | 23.00% |
Government | 2.41% | 0.00% | 25.63% | 65.50% |
Securitized | 2.25% | 0.00% | 23.18% | 39.00% |
Municipal | 1.02% | 0.00% | 3.62% | 9.50% |
Cash & Equivalents | 0.13% | 0.00% | 12.93% | 77.50% |
Derivative | 0.00% | -0.65% | 1.81% | 64.00% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | IBJAX % Rank | |
---|---|---|---|---|
US | 99.85% | 0.00% | 102.20% | 4.50% |
Non US | 0.00% | 0.00% | 47.05% | 85.50% |
IBJAX - Expenses
Operational Fees
IBJAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.01% | 0.02% | 46.23% | 34.01% |
Management Fee | 0.47% | 0.00% | 1.35% | 78.00% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 45.56% |
Administrative Fee | N/A | 0.02% | 0.45% | N/A |
Sales Fees
IBJAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.50% | 1.00% | 4.75% | 18.52% |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
IBJAX 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.
IBJAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 72.00% | 0.00% | 259.00% | 52.04% |
IBJAX - Distributions
Dividend Yield Analysis
IBJAX | Category Low | Category High | IBJAX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.52% | 0.00% | 6.16% | 20.50% |
Dividend Distribution Analysis
IBJAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
IBJAX | Category Low | Category High | IBJAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.89% | 0.38% | 5.93% | 71.57% |
Capital Gain Distribution Analysis
IBJAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 15, 2022 | $0.064 | OrdinaryDividend |
Nov 10, 2022 | $0.031 | OrdinaryDividend |
Oct 13, 2022 | $0.014 | OrdinaryDividend |
Sep 15, 2022 | $0.039 | OrdinaryDividend |
Aug 11, 2022 | $0.010 | OrdinaryDividend |
Jul 14, 2022 | $0.013 | OrdinaryDividend |
Jun 07, 2022 | $0.012 | OrdinaryDividend |
May 12, 2022 | $0.008 | OrdinaryDividend |
Apr 14, 2022 | $0.012 | OrdinaryDividend |
Mar 10, 2022 | $0.010 | OrdinaryDividend |
Feb 10, 2022 | $0.008 | OrdinaryDividend |
Jan 13, 2022 | $0.004 | OrdinaryDividend |
Nov 11, 2021 | $0.009 | OrdinaryDividend |
Oct 14, 2021 | $0.009 | OrdinaryDividend |
Sep 16, 2021 | $0.009 | OrdinaryDividend |
Aug 12, 2021 | $0.009 | OrdinaryDividend |
Jul 15, 2021 | $0.009 | OrdinaryDividend |
Jun 10, 2021 | $0.010 | OrdinaryDividend |
May 13, 2021 | $0.010 | OrdinaryDividend |
Apr 15, 2021 | $0.010 | OrdinaryDividend |
Mar 11, 2021 | $0.010 | OrdinaryDividend |
Feb 11, 2021 | $0.010 | OrdinaryDividend |
Jan 14, 2021 | $0.004 | OrdinaryDividend |
Nov 12, 2020 | $0.011 | OrdinaryDividend |
Oct 15, 2020 | $0.011 | OrdinaryDividend |
Sep 10, 2020 | $0.011 | OrdinaryDividend |
Aug 13, 2020 | $0.011 | OrdinaryDividend |
Jul 16, 2020 | $0.011 | OrdinaryDividend |
Jun 11, 2020 | $0.011 | OrdinaryDividend |
May 14, 2020 | $0.011 | OrdinaryDividend |
Apr 16, 2020 | $0.011 | OrdinaryDividend |
Mar 12, 2020 | $0.011 | OrdinaryDividend |
Feb 13, 2020 | $0.011 | OrdinaryDividend |
Jan 16, 2020 | $0.006 | OrdinaryDividend |
Dec 12, 2019 | $0.043 | OrdinaryDividend |
Nov 14, 2019 | $0.011 | OrdinaryDividend |
Oct 10, 2019 | $0.011 | OrdinaryDividend |
Sep 12, 2019 | $0.011 | OrdinaryDividend |
Aug 15, 2019 | $0.011 | OrdinaryDividend |
Jul 11, 2019 | $0.011 | OrdinaryDividend |
Jun 13, 2019 | $0.011 | OrdinaryDividend |
May 16, 2019 | $0.011 | OrdinaryDividend |
Apr 11, 2019 | $0.011 | OrdinaryDividend |
Mar 14, 2019 | $0.011 | OrdinaryDividend |
Feb 14, 2019 | $0.011 | OrdinaryDividend |
Jan 10, 2019 | $0.006 | OrdinaryDividend |
Dec 13, 2018 | $0.042 | OrdinaryDividend |
Nov 15, 2018 | $0.011 | OrdinaryDividend |
Oct 11, 2018 | $0.011 | OrdinaryDividend |
Sep 13, 2018 | $0.011 | OrdinaryDividend |
Aug 16, 2018 | $0.011 | OrdinaryDividend |
Jul 12, 2018 | $0.011 | OrdinaryDividend |
Jun 14, 2018 | $0.011 | OrdinaryDividend |
May 10, 2018 | $0.011 | OrdinaryDividend |
Apr 12, 2018 | $0.011 | OrdinaryDividend |
Mar 15, 2018 | $0.011 | OrdinaryDividend |
Feb 15, 2018 | $0.011 | OrdinaryDividend |
Jan 11, 2018 | $0.005 | OrdinaryDividend |
Dec 14, 2017 | $0.028 | OrdinaryDividend |
Nov 16, 2017 | $0.011 | OrdinaryDividend |
IBJAX - Fund Manager Analysis
Managers
Kashif Ishaq
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Kashif Ishaq Managing Director, Head of Credit Trading, Portfolio Manager Kashif Ishaq is global head of corporate bond trading for Macquarie Investment Management Fixed Income (MFI). He plays an integral role in the investment process, managing investment grade corporate bond exposure within MFI’s portfolios and performing relative value analysis across corporate curves and capital structures. He is also responsible for managing all corporate credit traders and maintaining key industry relationships. He started his fixed income career with Macquarie Investment Management as a portfolio analyst on the firm’s insurance portfolio management team before taking a position as an investment grade trader. For the three years prior to joining MIM in August 2005, he participated in Lincoln Financial Group’s rotational Professional Development Program. He started the program as a financial analyst in the Hartford office, followed by a position in information technology, and lastly he spent a year in the client services department of Delaware Investments. Ishaq received his bachelor’s degree in corporate finance and accounting from Bentley College.
Michael Wildstein
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Michael G. Wildstein is a member of fixed income portfolio management team at Delaware Management Company, a series of Macquarie Investment Management Business Trust. Before joining the team, he was a senior corporate bond analyst focused on the telecommunications sector for high-grade and high yield portfolios. Prior to joining Macquarie Investment Management (MIM) in March 2007 as a senior research analyst, Wildstein spent five years at Merrill Lynch Investment Managers in various roles that included portfolio manager for the core bond team, corporate bond research analyst, and corporate bond trader. Before moving into investment management, Wildstein worked in finance, corporate strategy, and business development with several firms including RCN Corporation and AT&T Local Services. He earned a bachelor’s degree from the University of Tampa and an MBA from Drexel University.
Wayne Anglace
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Wayne A. Anglace currently serves as a senior portfolio manager for Macquarie Investment Management's corporate and convertible bond strategies. Prior to joining Macquarie Investment Management (MIM), which includes the former Delaware Investments, in March 2007 as a research analyst for the firm’s high grade, high yield, and convertible bond portfolios, he spent more than two years as a research analyst at Gartmore Global Investments for its convertible bond strategy. From 2000 to 2004, Anglace worked in private client research at Deutsche Bank Alex. Brown in Baltimore, where he focused on equity research, and he started his financial services career with Ashbridge Investment Management in 1999. Prior to moving to the financial industry, Anglace worked as a professional civil engineer. He earned his bachelor’s degree in civil engineering from Villanova University and an MBA with a concentration in finance from Saint Joseph’s University, and he is a member of the CFA Society of Philadelphia.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.33 | 24.76 | 6.3 | 2.41 |