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Trending ETFs

Name

As of 10/07/2024

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

$9.88

$142 M

2.42%

$0.24

1.43%

Vitals

YTD Return

6.6%

1 yr return

16.5%

3 Yr Avg Return

12.4%

5 Yr Avg Return

8.3%

Net Assets

$142 M

Holdings in Top 10

39.6%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.43%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 113.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$750

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/07/2024

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

$9.88

$142 M

2.42%

$0.24

1.43%

IEYAX - Profile

Distributions

  • YTD Total Return 6.6%
  • 3 Yr Annualized Total Return 12.4%
  • 5 Yr Annualized Total Return 8.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.60%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Delaware Climate Solutions Fund
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Apr 07, 2006
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Geoffrey King

Fund Description

The Delaware Climate Solutions Fund seeks to achieve its objective by investing in securities of U.S. and non-U.S. issuers, including non-dollar securities and securities of emerging market issuers. The Fund focuses its investments on equity securities and equity-related investments and may invest in common and preferred stocks, convertible securities and warrants of companies of any market capitalization. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of companies that the Manager has identified as being capable of reducing, displacing and/or sequestering greenhouse gas (GHG) emissions or helping others to do so. In constructing the Fund’s entire portfolio, the Manager will also emphasize the selection of securities issued by companies that the Manager believes offer superior financial risk-adjusted returns.

The Fund is nondiversified, meaning that it may invest a significant portion of its total assets in a limited number of issuers. In addition, the Fund has a policy to concentrate (invest at least 25% of its net assets under normal circumstances) in companies within the energy industry. Companies in the energy industry include, but are not limited to, oil companies, oil and gas drilling, equipment and services companies, oil and gas exploration and production companies, oil and gas storage and transportation companies, natural gas pipeline companies, refinery companies, energy conservation companies, coal, transporters, utilities, alternative energy companies and innovative energy technology companies. Notwithstanding the foregoing, the Fund may also invest its assets across different industries outside of the energy industry.

The Manager’s investment process for the Fund begins with idea generation, focusing on the identification of companies capable of reducing, displacing, and/or sequestering GHG emissions or helping others to do so. The Manager’s investment process is designed to identify both “reducers” and “facilitators” for inclusion in the Fund’s portfolio. Companies identified as “reducers”, i.e., those reducing, displacing, and/or sequestering their own GHG emissions, are willing and able to make reductions in their absolute GHG emissions. Within these “reducer” companies, the Manager gives preference to companies that are able to demonstrate a commitment to help remain on a transition pathway towards the goals of the United Nations Climate Change Paris Agreement of 2015 (“Paris Agreement”) by 2050. Companies identified by the Manager as “facilitators”, i.e., those helping others reduce emissions, offer products and/or services that help reduce GHG emissions primarily through displacement and/or sequestration.

Progress towards the impact component of the Fund’s investment objective will be measured annually and a discussion of the progress will be included in its annual shareholder report. Those discussions will address the GHG emissions reduction efforts of the companies that the Fund considers “reducers” and also will address the progress of the companies the Fund considers “facilitators” toward implementing and commercializing products and services that are meant to contribute to the reduction of carbon emissions. Achievement of the impact component of the Fund’s investment objective is dependent upon companies’ ability to deliver on their stated emissions reduction goals through either their own actions and/or the products and services offered to others. Lack of capital, technological failure, changes in management goals, and regulatory restrictions are among the factors that may hinder the attainment of the impact objectives. The ability of the Fund to measure a company’s progress as a reducer or facilitator is, to a significant extent, contingent on the information disclosed by the company.

Data on emissions is sourced from company web sites, corporate sustainability reports, and third-party sources such as non-governmental organizations, sell-side research, and, on a limited basis. ESG data providers. For “reducers,” the Manager will source the most recent reported Scope 1 and Scope 2 emissions. To estimate a company’s emission reduction by 2030, the Manager will subtract current emissions from estimated emissions by 2030. Estimated emissions are sourced from company-disclosed targets and/or estimates from the Transition Pathway Initiative, which is a global, asset-owner led initiative that assesses companies' preparedness for the transition to a low carbon economy. Some company-level emission estimates will be

calculated by applying forecasted changes in carbon intensity on a percentage basis and applying that change to a base level of emissions. For “facilitators,” measurement is based on annual estimated GHG emissions saved in comparison to existing higher GHG-emitting alternatives. Because company GHG emissions data are not standardized (and are further subject to estimation error when not company-reported), the data sets the Manager must rely on may imperfectly represent companies’ true GHG emissions. Additionally, the company emissions targets that the Manager sets are based on model assumptions and estimations that carry the inherent risk associated with any modeling or estimating process.

From this universe of companies identified pursuant to the process described above, companies with perceived superior risk-adjusted returns are selected. This selection process includes cash flow, earnings and net asset value analysis combined with a strong financial profile and balance sheet. The Manager will also review a company’s corporate governance, shareholder alignment and capital allocation.

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.

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IEYAX - Performance

Return Ranking - Trailing

Period IEYAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.6% -8.9% 17.2% 68.66%
1 Yr 16.5% -10.9% 24.1% 17.91%
3 Yr 12.4%* -10.7% 23.6% 80.60%
5 Yr 8.3%* 4.2% 28.7% 85.07%
10 Yr -4.0%* -12.6% 13.9% 74.58%

* Annualized

Return Ranking - Calendar

Period IEYAX Return Category Return Low Category Return High Rank in Category (%)
2023 -6.7% -12.5% 12.1% 98.51%
2022 39.0% -9.1% 88.5% 71.64%
2021 41.0% -16.7% 94.8% 50.75%
2020 -40.0% -47.8% 134.4% 89.55%
2019 4.3% -18.0% 61.0% 56.72%

Total Return Ranking - Trailing

Period IEYAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.6% -8.9% 17.2% 68.66%
1 Yr 16.5% -10.9% 24.1% 17.91%
3 Yr 12.4%* -10.7% 23.6% 80.60%
5 Yr 8.3%* 4.2% 28.7% 85.07%
10 Yr -4.0%* -12.6% 13.9% 74.58%

* Annualized

Total Return Ranking - Calendar

Period IEYAX Return Category Return Low Category Return High Rank in Category (%)
2023 -4.3% -11.5% 14.4% 94.03%
2022 41.4% -8.0% 88.5% 73.13%
2021 43.2% -15.7% 98.4% 55.22%
2020 -38.7% -44.2% 138.4% 88.06%
2019 4.3% -16.5% 63.2% 68.66%

NAV & Total Return History


IEYAX - Holdings

Concentration Analysis

IEYAX Category Low Category High IEYAX % Rank
Net Assets 142 M 5.1 M 39.9 B 57.35%
Number of Holdings 35 24 212 57.35%
Net Assets in Top 10 53.7 M 2.02 M 28.3 B 64.71%
Weighting of Top 10 39.63% 30.4% 86.0% 80.88%

Top 10 Holdings

  1. Alcoa Corp 4.39%
  2. Schneider Electric SE 4.38%
  3. Waste Management Inc 4.21%
  4. Anglo American PLC 4.09%
  5. First Solar Inc 3.92%
  6. SSE PLC 3.86%
  7. Cummins Inc 3.84%
  8. Kingspan Group PLC 3.82%
  9. CMS Energy Corp 3.60%
  10. Terna - Rete Elettrica Nazionale 3.55%

Asset Allocation

Weighting Return Low Return High IEYAX % Rank
Stocks
99.80% 82.08% 100.00% 30.88%
Cash
0.20% 0.00% 32.22% 76.47%
Preferred Stocks
0.00% 0.00% 1.21% 11.76%
Other
0.00% 0.00% 18.03% 38.24%
Convertible Bonds
0.00% 0.00% 0.00% 10.29%
Bonds
0.00% 0.00% 4.87% 16.18%

Stock Sector Breakdown

Weighting Return Low Return High IEYAX % Rank
Energy
85.47% 0.00% 100.00% 80.88%
Utilities
7.88% 0.00% 39.83% 8.82%
Technology
1.95% 0.00% 35.01% 30.88%
Basic Materials
1.75% 0.00% 17.92% 33.82%
Consumer Defense
1.54% 0.00% 1.54% 2.94%
Industrials
1.01% 0.00% 25.16% 39.71%
Financial Services
0.41% 0.00% 0.41% 2.94%
Real Estate
0.00% 0.00% 0.02% 16.18%
Healthcare
0.00% 0.00% 0.00% 10.29%
Communication Services
0.00% 0.00% 0.00% 10.29%
Consumer Cyclical
0.00% 0.00% 6.59% 29.41%

Stock Geographic Breakdown

Weighting Return Low Return High IEYAX % Rank
US
63.86% 39.74% 99.99% 80.88%
Non US
35.94% 0.00% 60.26% 16.18%

IEYAX - Expenses

Operational Fees

IEYAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.43% 0.08% 2.84% 35.29%
Management Fee 0.85% 0.00% 1.25% 77.94%
12b-1 Fee 0.25% 0.00% 1.00% 23.33%
Administrative Fee N/A 0.06% 0.25% 5.13%

Sales Fees

IEYAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.00% 5.75% 11.11%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

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

IEYAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 113.00% 5.00% 382.00% 76.79%

IEYAX - Distributions

Dividend Yield Analysis

IEYAX Category Low Category High IEYAX % Rank
Dividend Yield 2.42% 0.00% 6.52% 27.94%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

IEYAX Category Low Category High IEYAX % Rank
Net Income Ratio 1.60% -1.80% 4.54% 61.76%

Capital Gain Distribution Analysis

IEYAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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IEYAX - Fund Manager Analysis

Managers

Geoffrey King


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Geoffrey King, CFA Senior Vice President, Portfolio Manager — Global Natural Resources Equity Geoffrey King is a portfolio manager on the firm’s Global Natural Resources Equity team. Prior to joining Macquarie Investment Management (MIM) in July 2018, he worked at Abraxas Petroleum where he was vice president and chief financial officer for approximately six years, responsible for strategy, business development, financial planning, analysis, and hedging. For the five years before that, King was a senior energy analyst at Van Eck, where he was focused on natural resource commodities and equities. He holds bachelor’s degrees in both economics and history from Davidson College.

Samuel Halpert


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Sam Halpert, CFA Managing Director, Chief Investment Officer — Global Natural Resources Equity Sam Halpert leads the firm’s Global Natural Resources Equity team. Prior to joining Macquarie Investment Management (MIM) in July 2018, he worked at Van Eck, where he was a co-portfolio manager and senior analyst on its global hard assets long-only and long-short team from April 2000 to June 2018. He specialized in agriculture, coal, paper and forest products, refining, shipping, and steel investments. He also managed a global real estate fund at Van Eck earlier in his career. Prior to that, he worked at Goldman Sachs, which ultimately became Citi Group, and he worked at Refco. He earned a bachelor’s degree in English and American literature from Harvard College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 24.18 6.95 0.54