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Trending ETFs

Name

As of 10/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$23.71

$1.57 B

1.23%

$0.29

1.08%

Vitals

YTD Return

16.4%

1 yr return

28.3%

3 Yr Avg Return

5.5%

5 Yr Avg Return

10.2%

Net Assets

$1.57 B

Holdings in Top 10

24.2%

52 WEEK LOW AND HIGH

$23.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.08%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 94.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$750

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$23.71

$1.57 B

1.23%

$0.29

1.08%

IBNAX - Profile

Distributions

  • YTD Total Return 16.4%
  • 3 Yr Annualized Total Return 5.5%
  • 5 Yr Annualized Total Return 10.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.44%
DIVIDENDS
  • Dividend Yield 1.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Delaware Ivy Balanced Fund
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Dec 08, 2003
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jurgen Wurzer

Fund Description

Delaware Ivy Balanced Fund seeks to achieve its objective by investing primarily in a diversified mix of stocks, debt securities and short-term instruments, depending on market conditions. Regarding its income-generating equity investments, including convertible securities, the Fund invests primarily in medium to large, well-established companies, although it may invest in securities issued by companies of any size. The Fund invests at least 50% of its total assets in equity securities including convertible securities. The Fund may invest in preferred stocks and real estate investment trusts (REITs).

The Fund invests at least 30% of its total assets in debt securities with the objective of providing income and diversification although such diversification may not protect against market risk. The Fund’s debt securities may include US government securities or investment-grade corporate 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 may also invest up to 20% of its total assets in non-investment-grade debt securities. The Fund has no limitations on the range of maturities of the debt securities in which it may invest.

MIMAK and the Manager use a dynamic asset-allocation framework to determine the proportion of the Fund's assets that will be allocated to the various asset classes noted above, based on the market assessment and portfolio risk contribution for such asset classes. The framework is intended to reduce riskier assets in times of market volatility and provide additional downside protection. In addition, Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), the sub-advisor to the Fund, will also manage a tactical / completion sleeve and such sleeve will typically vary from 0% to 20% of the Fund’s total assets and primarily hold derivatives and exchange-traded funds (ETFs).

For the purposes of this section, a reference to the Manager may also include MIMAK, with respect to its role as sub-advisor of the Fund.

In evaluating investments for the Fund, the Manager focuses on companies with resilient business models characterized by stable growth rates; strong balance sheets; relative strength in earnings; attractive return profiles and valuation; and strong free cash flow generation. In so doing, the Manager evaluates a company’s management team, its financial position, its competitive position and the condition of its respective industry in addition to other factors. The Manager utilizes financial statements, independent research by its investment management personnel, third party research, brand studies done by outside parties and other tools and processes to identify what it believes to be attractive investment opportunities with a focus on the trajectory and sustainability of a company’s business model. The Manager also focuses on companies that possess a sustainable competitive advantage by evaluating factors such as brand equity/loyalty, proprietary technology, switching costs, access to distribution channels, capital requirements, economies of scale, and barriers to entry. In addition, the Manager’s analysis informs its view of an appropriate valuation for each potential investment.

Investment opportunities typically fall into two categories: company-specific ideas which include factors such as a company’s competitive positioning, production cycles, cost restructuring or a new management team; and thematic ideas where the Manager considers economic or political forces, interest rate term structure variances, cyclical inflections, changes in consumer behavior or technology shifts.

The Fund may use a wide range of derivatives instruments, typically including forward foreign currency contracts, options, futures contracts, options on futures contracts, and credit default swaps. The Fund will use derivatives for both hedging and non-hedging purposes; as a substitute for purchasing or selling securities; and to manage the Fund’s portfolio characteristics. For example, the Fund may invest in: futures and options to manage duration and for defensive purposes, such as to protect gains or hedge against potential losses in the portfolio without actually selling a security, or to stay fully invested; forward foreign currency contracts to manage foreign currency exposure; and credit default swaps to hedge against a credit event, to gain exposure to certain securities or markets, or to enhance total return.

In selecting debt securities for the Fund, the Manager focuses on current income and capital preservation and generally seeks to invest in investment-grade securities. The Fund may invest up to 30% of its total assets in foreign securities, including equity and fixed-income securities. Additionally, many of the companies in which the Fund may invest have diverse operations, with products or services in foreign markets. Therefore, the Fund may have indirect exposure to various foreign markets through investments in these companies, even if the Fund is not invested directly in such markets.

The Fund may invest in bonds of any maturity or duration.

Generally, in determining whether to sell a security, the Manager uses the same analysis as identified above in order to determine if the security is appropriately valued or has met its anticipated price. The Manager also may sell a security if the security ceases to produce income, 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.

In addition, the Manager may seek investment   advice and recommendations relating to fixed income securities from its affiliates: Macquarie Investment Management Europe Limited (MIMEL) and Macquarie Investment Management Global Limited (MIMGL). The Manager may also permit MIMGL to execute Fund equity security trades on behalf of the Manager. The Manager may also permit MIMEL and MIMGL to exercise investment discretion and perform trading for fixed income securities in certain markets where the Manager believes it will be beneficial to utilize MIMEL’s or MIMGL’s specialized market knowledge, and the Manager may also seek quantitative support from MIMGL. MIMGL is also responsible for managing real estate investment trust securities and other equity asset classes to which the portfolio managers may allocate assets from time to time.

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IBNAX - Performance

Return Ranking - Trailing

Period IBNAX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.4% -3.1% 50.1% 6.18%
1 Yr 28.3% -2.3% 64.8% 5.03%
3 Yr 5.5%* -4.2% 13.7% 16.91%
5 Yr 10.2%* -2.8% 18.9% 10.17%
10 Yr 8.1%* 1.4% 12.1% 22.37%

* Annualized

Return Ranking - Calendar

Period IBNAX Return Category Return Low Category Return High Rank in Category (%)
2023 14.8% -12.2% 23.9% 8.36%
2022 -33.4% -34.7% 2.8% 98.98%
2021 4.1% -11.9% 18.1% 58.33%
2020 6.9% -20.9% 39.7% 58.95%
2019 13.2% 0.8% 25.7% 57.42%

Total Return Ranking - Trailing

Period IBNAX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.4% -3.1% 50.1% 6.18%
1 Yr 28.3% -2.3% 64.8% 5.03%
3 Yr 5.5%* -4.2% 13.7% 16.91%
5 Yr 10.2%* -2.8% 18.9% 10.17%
10 Yr 8.1%* 1.4% 12.1% 22.37%

* Annualized

Total Return Ranking - Calendar

Period IBNAX Return Category Return Low Category Return High Rank in Category (%)
2023 16.2% -12.2% 26.8% 22.19%
2022 -16.0% -29.0% 10.9% 68.81%
2021 16.3% -3.0% 27.3% 17.12%
2020 14.3% -19.5% 40.6% 35.66%
2019 22.1% 2.2% 32.7% 18.92%

NAV & Total Return History


IBNAX - Holdings

Concentration Analysis

IBNAX Category Low Category High IBNAX % Rank
Net Assets 1.57 B 789 K 230 B 38.91%
Number of Holdings 340 2 16015 27.81%
Net Assets in Top 10 373 M 577 K 69.8 B 54.32%
Weighting of Top 10 24.24% 11.0% 122.7% 83.43%

Top 10 Holdings

  1. Microsoft Corp 4.96%
  2. NVIDIA Corp 3.25%
  3. Apple Inc 2.78%
  4. Amazon.com Inc 2.35%
  5. Alphabet Inc 2.01%
  6. KKR Co Inc 1.83%
  7. Vanguard SP 500 ETF 1.82%
  8. HCA Healthcare Inc 1.78%
  9. Taiwan Semiconductor Manufacturing Co Ltd 1.76%
  10. United States Treasury Note/Bond 1.70%

Asset Allocation

Weighting Return Low Return High IBNAX % Rank
Stocks
63.44% 0.00% 100.16% 64.84%
Bonds
31.66% 0.00% 74.58% 29.54%
Cash
3.98% -7.92% 100.00% 23.78%
Other
0.92% -42.55% 113.97% 20.75%
Convertible Bonds
0.07% 0.00% 23.84% 85.92%
Preferred Stocks
0.00% 0.00% 23.91% 33.72%

Stock Sector Breakdown

Weighting Return Low Return High IBNAX % Rank
Technology
24.11% 0.00% 44.21% 14.99%
Financial Services
22.24% 0.00% 38.77% 3.64%
Healthcare
13.55% 0.00% 29.35% 58.37%
Industrials
12.06% 0.00% 24.37% 20.67%
Consumer Cyclical
7.97% 0.00% 19.36% 73.51%
Communication Services
6.23% 0.00% 38.10% 71.18%
Consumer Defense
5.88% 0.00% 15.14% 74.53%
Basic Materials
3.13% 0.00% 33.35% 72.34%
Utilities
2.94% 0.00% 99.55% 48.76%
Energy
1.85% 0.00% 85.65% 89.81%
Real Estate
0.06% 0.00% 65.01% 94.47%

Stock Geographic Breakdown

Weighting Return Low Return High IBNAX % Rank
US
63.44% 0.00% 100.16% 61.10%
Non US
0.00% 0.00% 39.06% 37.18%

Bond Sector Breakdown

Weighting Return Low Return High IBNAX % Rank
Corporate
36.24% 0.00% 98.21% 37.59%
Government
29.80% 0.00% 97.26% 50.80%
Securitized
27.37% 0.00% 92.13% 21.19%
Cash & Equivalents
3.71% 0.00% 99.92% 24.64%
Municipal
0.00% 0.00% 24.80% 69.96%
Derivative
-0.04% -2.87% 42.43% 91.35%

Bond Geographic Breakdown

Weighting Return Low Return High IBNAX % Rank
US
31.66% 0.00% 74.58% 28.39%
Non US
0.00% 0.00% 14.05% 25.07%

IBNAX - Expenses

Operational Fees

IBNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.08% 0.03% 17.63% 43.12%
Management Fee 0.68% 0.00% 1.83% 82.55%
12b-1 Fee 0.25% 0.00% 1.00% 25.18%
Administrative Fee N/A 0.01% 0.83% 3.27%

Sales Fees

IBNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.25% 5.75% 7.08%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

IBNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

IBNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 94.00% 0.00% 343.00% 83.08%

IBNAX - Distributions

Dividend Yield Analysis

IBNAX Category Low Category High IBNAX % Rank
Dividend Yield 1.23% 0.00% 17.90% 52.22%

Dividend Distribution Analysis

IBNAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Annual Annual

Net Income Ratio Analysis

IBNAX Category Low Category High IBNAX % Rank
Net Income Ratio 0.44% -2.34% 19.41% 83.28%

Capital Gain Distribution Analysis

IBNAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

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IBNAX - Fund Manager Analysis

Managers

Jurgen Wurzer


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Jürgen Wurzer rejoined Macquarie Investment Management Austria Kapitalanlage AG (MIMAK) in April 2018 as deputy head of portfolio management for the firm’s global multi asset team based in Vienna. Prior to that, he worked at Erste Asset Management as a senior fund manager on the multi asset management team, where he worked from September 2016 to March 2018. Wurzer previously worked at MIMAK from January 2007 to August 2016, leaving the firm as senior investment manager on the global multi asset team. He graduated from University of Applied Sciences Wiener Neustadt with a master’s degree. Wurzer is a lecturer for asset allocation, quantitative finance, portfolio, and risk management at several educational institutions.

Stefan Löwenthal


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Stefan Löwenthal is the chief investment officer for Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), a role he assumed in February 2013. He heads the global multi asset team based in Vienna, which is responsible for all asset allocation and security selection decisions, the management of mutual funds, as well as the development of new investment strategies. In addition, Löwenthal oversees the investment policy committee, which is responsible for strategic investment decisions at MIMAK. He began his career with Macquarie in February 2008 as a portfolio manager. He holds a Master of Management Science from Vienna University of Economics and Business. Löwenthal is a lecturer for economics at the IMC University of applied sciences in Krems (Austria) and the Qiongzhou University in Sanya (China).

Aaron Young


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Mr. Young is Vice President of IICO and WRIMCO and Vice President of the Trust. He joined IICO in 2005 as a fixed-income analyst with an emphasis in credit research and derivative securities. Mr. Young joined the Asset Strategy team as an investment analyst in 2007. He has served as an assistant portfolio manager of investment companies managed by IICO and WRIMCO since 2012. Mr. Young earned a BA in Philosophy from the University of Missouri and holds an MBA with an emphasis in Finance and Strategy from the Olin School of Business at Washington University

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 34.51 6.36 2.41