Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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
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 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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%
- Dividend Yield 1.2%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDelaware Ivy Balanced Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateDec 08, 2003
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJurgen 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.
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
- Microsoft Corp 4.96%
- NVIDIA Corp 3.25%
- Apple Inc 2.78%
- Amazon.com Inc 2.35%
- Alphabet Inc 2.01%
- KKR Co Inc 1.83%
- Vanguard SP 500 ETF 1.82%
- HCA Healthcare Inc 1.78%
- Taiwan Semiconductor Manufacturing Co Ltd 1.76%
- 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
Date | Amount | Type |
---|---|---|
Sep 20, 2024 | $0.073 | OrdinaryDividend |
Mar 22, 2024 | $0.288 | OrdinaryDividend |
Dec 15, 2023 | $0.048 | OrdinaryDividend |
Sep 22, 2023 | $0.056 | OrdinaryDividend |
Jun 22, 2023 | $0.063 | OrdinaryDividend |
Mar 22, 2023 | $0.063 | OrdinaryDividend |
Dec 15, 2022 | $4.686 | OrdinaryDividend |
Sep 15, 2022 | $0.053 | OrdinaryDividend |
Jun 07, 2022 | $0.027 | OrdinaryDividend |
Mar 10, 2022 | $0.026 | OrdinaryDividend |
Dec 16, 2021 | $3.089 | OrdinaryDividend |
Sep 16, 2021 | $0.025 | OrdinaryDividend |
Jun 10, 2021 | $0.015 | OrdinaryDividend |
Mar 11, 2021 | $0.020 | OrdinaryDividend |
Dec 10, 2020 | $1.635 | OrdinaryDividend |
Sep 10, 2020 | $0.060 | OrdinaryDividend |
Jun 11, 2020 | $0.040 | OrdinaryDividend |
Mar 12, 2020 | $0.030 | OrdinaryDividend |
Dec 12, 2019 | $0.146 | OrdinaryDividend |
Dec 12, 2019 | $1.547 | CapitalGainLongTerm |
Sep 12, 2019 | $0.080 | OrdinaryDividend |
Jun 13, 2019 | $0.080 | OrdinaryDividend |
Mar 14, 2019 | $0.030 | OrdinaryDividend |
Dec 13, 2018 | $0.150 | OrdinaryDividend |
Dec 13, 2018 | $0.057 | CapitalGainShortTerm |
Dec 13, 2018 | $2.142 | CapitalGainLongTerm |
Sep 13, 2018 | $0.100 | OrdinaryDividend |
Jun 14, 2018 | $0.080 | OrdinaryDividend |
Mar 15, 2018 | $0.030 | OrdinaryDividend |
Dec 14, 2017 | $0.219 | OrdinaryDividend |
Dec 14, 2017 | $0.657 | CapitalGainLongTerm |
Sep 14, 2017 | $0.100 | OrdinaryDividend |
Jun 15, 2017 | $0.134 | OrdinaryDividend |
Mar 16, 2017 | $0.040 | OrdinaryDividend |
Dec 08, 2016 | $0.173 | OrdinaryDividend |
Dec 08, 2016 | $0.277 | CapitalGainLongTerm |
Sep 15, 2016 | $0.045 | OrdinaryDividend |
Jun 16, 2016 | $0.045 | OrdinaryDividend |
Dec 10, 2015 | $0.169 | OrdinaryDividend |
Dec 10, 2015 | $0.239 | CapitalGainShortTerm |
Dec 10, 2015 | $0.938 | CapitalGainLongTerm |
Sep 10, 2015 | $0.045 | OrdinaryDividend |
Jun 11, 2015 | $0.045 | OrdinaryDividend |
Mar 12, 2015 | $0.020 | OrdinaryDividend |
Dec 11, 2014 | $0.098 | OrdinaryDividend |
Dec 11, 2014 | $0.088 | CapitalGainShortTerm |
Dec 11, 2014 | $0.649 | CapitalGainLongTerm |
Sep 11, 2014 | $0.023 | OrdinaryDividend |
Jun 12, 2014 | $0.023 | OrdinaryDividend |
Mar 13, 2014 | $0.015 | OrdinaryDividend |
Dec 12, 2013 | $0.056 | OrdinaryDividend |
Dec 12, 2013 | $0.126 | CapitalGainShortTerm |
Dec 12, 2013 | $0.399 | CapitalGainLongTerm |
Sep 12, 2013 | $0.015 | OrdinaryDividend |
Jun 13, 2013 | $0.015 | OrdinaryDividend |
Mar 14, 2013 | $0.010 | OrdinaryDividend |
Dec 13, 2012 | $0.101 | OrdinaryDividend |
Dec 13, 2012 | $0.033 | CapitalGainShortTerm |
Dec 13, 2012 | $0.119 | CapitalGainLongTerm |
Sep 13, 2012 | $0.025 | OrdinaryDividend |
Jun 14, 2012 | $0.030 | OrdinaryDividend |
Mar 15, 2012 | $0.030 | OrdinaryDividend |
Dec 08, 2011 | $0.088 | OrdinaryDividend |
Dec 08, 2011 | $0.091 | CapitalGainLongTerm |
Sep 15, 2011 | $0.030 | OrdinaryDividend |
Jun 16, 2011 | $0.030 | OrdinaryDividend |
Mar 10, 2011 | $0.020 | OrdinaryDividend |
Dec 09, 2010 | $0.077 | OrdinaryDividend |
Sep 16, 2010 | $0.041 | OrdinaryDividend |
Jun 10, 2010 | $0.032 | OrdinaryDividend |
Mar 11, 2010 | $0.032 | OrdinaryDividend |
Dec 10, 2009 | $0.081 | OrdinaryDividend |
Sep 10, 2009 | $0.045 | OrdinaryDividend |
Jun 11, 2009 | $0.050 | OrdinaryDividend |
Mar 12, 2009 | $0.045 | OrdinaryDividend |
Dec 11, 2008 | $0.022 | OrdinaryDividend |
Sep 11, 2008 | $0.045 | OrdinaryDividend |
Jun 12, 2008 | $0.045 | OrdinaryDividend |
Mar 13, 2008 | $0.045 | OrdinaryDividend |
Dec 13, 2007 | $0.067 | OrdinaryDividend |
Dec 13, 2007 | $0.108 | CapitalGainShortTerm |
Dec 13, 2007 | $0.403 | CapitalGainLongTerm |
Sep 13, 2007 | $0.045 | OrdinaryDividend |
Jun 14, 2007 | $0.045 | OrdinaryDividend |
Mar 15, 2007 | $0.040 | OrdinaryDividend |
Dec 14, 2006 | $0.060 | OrdinaryDividend |
Sep 14, 2006 | $0.040 | OrdinaryDividend |
Jun 15, 2006 | $0.040 | OrdinaryDividend |
Mar 16, 2006 | $0.035 | OrdinaryDividend |
Dec 15, 2005 | $0.042 | OrdinaryDividend |
Sep 15, 2005 | $0.030 | OrdinaryDividend |
Jun 16, 2005 | $0.028 | OrdinaryDividend |
Mar 10, 2005 | $0.020 | OrdinaryDividend |
Dec 16, 2004 | $0.064 | OrdinaryDividend |
Sep 16, 2004 | $0.026 | OrdinaryDividend |
Jun 17, 2004 | $0.026 | OrdinaryDividend |
Mar 11, 2004 | $0.026 | OrdinaryDividend |
Dec 18, 2003 | $0.017 | OrdinaryDividend |
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 |