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Trending ETFs

Name

As of 10/09/2024

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

$17.59

$191 M

2.19%

$0.39

0.94%

Vitals

YTD Return

6.3%

1 yr return

9.0%

3 Yr Avg Return

10.0%

5 Yr Avg Return

9.5%

Net Assets

$191 M

Holdings in Top 10

47.4%

52 WEEK LOW AND HIGH

$17.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.94%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 116.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/09/2024

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

$17.59

$191 M

2.19%

$0.39

0.94%

INRSX - Profile

Distributions

  • YTD Total Return 6.3%
  • 3 Yr Annualized Total Return 10.0%
  • 5 Yr Annualized Total Return 9.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.46%
DIVIDENDS
  • Dividend Yield 2.2%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Delaware Ivy Natural Resources Fund
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Jul 31, 2014
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Geoffrey King

Fund Description

Delaware Ivy Natural Resources Fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in equity securities of companies with operations throughout the world that own, explore or develop natural resources and other basic commodities or supply goods and services to such companies.

For these purposes, “natural resources” generally includes, but is not limited to: energy (such as electricity and gas utilities, producers/developers, equipment/services, storage/transportation, gas/oil refining and marketing, service/drilling, pipelines, and master limited partnerships (MLPs)), alternative energy (such as uranium, coal, nuclear, hydrogen, wind, solar, and fuel cells), industrial products (such as building materials, cement, packaging, chemicals, materials infrastructure, supporting transport and machinery), forest products (such as lumber, plywood, pulp, paper, newsprint, and tissue), base metals (such as aluminum, copper, nickel, zinc, iron ore, and steel), precious metals and minerals (such as gold, silver, platinum, and diamonds), and agricultural products (such as grains and other foods, seeds, fertilizers, and water). The Fund also may invest in companies that are not within the energy sector but that are engaged in the development of products and services to enhance energy efficiency in the manufacturing, development, and/or providing of products and services.

After conducting a top-down (assessing the market environment) market analysis of the natural resources industry and identifying trends and sectors, the Manager uses a research-oriented, bottom-up (researching individual issuers) investment approach when selecting securities for the Fund, focusing on company fundamentals and growth prospects. The Fund invests in a blend of value and growth companies across the capitalization spectrum, and emphasizes companies that the Manager believes are strongly managed and can generate above-average capital growth and appreciation. The Manager focuses on companies that it believes are high quality, have the potential for sustainable long-term growth and that are low-cost leaders that possess historically strong-producing assets. The Fund typically holds a limited number of stocks (generally 30 to 60).

Under normal circumstances, the Manager anticipates that a significant portion of the Fund’s portfolio will consist of issuers in the energy and materials sectors.

The Fund seeks to be diversified internationally, and therefore, the Manager invests in foreign companies and US companies that have principal operations in foreign jurisdictions. While the Manager typically seeks to invest a majority of the Fund’s assets in the US, the Fund may invest up to 100% of its total assets in foreign securities. Exposure to companies in any one particular foreign country will generally be less than 15% of the Fund’s total assets or two times the weight of the S&P Global Natural Resources Index, whichever is greater. The Fund also may have exposure to companies located in, and/or doing business in, emerging markets.

An investment in foreign securities presents additional risks such as currency fluctuations and political or economic conditions affecting the foreign country. 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 use forward currency contracts in an effort to manage foreign currency exposure.

Generally, in determining whether to sell a security, the Manager uses the same type of analysis that it uses in buying securities to determine whether the security has ceased to offer significant growth potential, has sufficiently exceeded its target price, has become overvalued and/or whether the prospects of the issuer have deteriorated. The Manager also will consider the effect of commodity price trends on certain holdings, poor capital management or whether

Fund summaries

a company has experienced a change or deterioration in its fundamentals, its valuation or its competitive advantage. The Manager also may sell a security to take advantage of what it believes are more attractive investment opportunities, to reduce the Fund’s holding in that security or to raise cash.

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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INRSX - Performance

Return Ranking - Trailing

Period INRSX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.3% -7.5% 22.4% 47.62%
1 Yr 9.0% -9.5% 31.6% 46.67%
3 Yr 10.0%* -15.6% 25.0% 23.53%
5 Yr 9.5%* 0.5% 37.3% 72.16%
10 Yr 1.1%* -5.6% 14.3% 81.93%

* Annualized

Return Ranking - Calendar

Period INRSX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.8% -13.1% 52.1% 57.69%
2022 15.3% -34.9% 34.0% 29.41%
2021 23.4% -4.9% 83.5% 52.00%
2020 -12.4% -23.4% 126.4% 85.71%
2019 6.9% -25.1% 36.9% 83.51%

Total Return Ranking - Trailing

Period INRSX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.3% -7.5% 22.4% 47.62%
1 Yr 9.0% -9.5% 31.6% 46.67%
3 Yr 10.0%* -15.6% 25.0% 23.53%
5 Yr 9.5%* 0.5% 37.3% 72.16%
10 Yr 1.1%* -5.6% 14.3% 81.93%

* Annualized

Total Return Ranking - Calendar

Period INRSX Return Category Return Low Category Return High Rank in Category (%)
2023 1.6% -12.2% 57.6% 56.73%
2022 18.2% -32.2% 35.5% 27.45%
2021 27.0% -2.5% 83.6% 47.00%
2020 -11.7% -22.2% 127.8% 85.71%
2019 10.1% -25.1% 37.6% 77.32%

NAV & Total Return History


INRSX - Holdings

Concentration Analysis

INRSX Category Low Category High INRSX % Rank
Net Assets 191 M 1.39 M 6.25 B 75.24%
Number of Holdings 45 25 317 60.95%
Net Assets in Top 10 92.6 M 614 K 3.65 B 74.29%
Weighting of Top 10 47.36% 16.8% 77.1% 45.71%

Top 10 Holdings

  1. Shell PLC 6.89%
  2. Newmont Corp 6.86%
  3. Anglo American PLC 5.10%
  4. CF Industries Holdings Inc 4.82%
  5. Schlumberger NV 4.76%
  6. Wheaton Precious Metals Corp 3.90%
  7. Glencore PLC 3.90%
  8. CRH PLC 3.85%
  9. Endeavour Mining PLC 3.65%
  10. Hudbay Minerals Inc 3.63%

Asset Allocation

Weighting Return Low Return High INRSX % Rank
Stocks
99.97% 0.00% 100.27% 14.29%
Cash
0.12% 0.00% 21.06% 95.24%
Preferred Stocks
0.00% 0.00% 5.99% 72.38%
Other
0.00% -0.08% 23.81% 75.24%
Convertible Bonds
0.00% 0.00% 0.43% 71.43%
Bonds
0.00% 0.00% 83.60% 73.33%

Stock Sector Breakdown

Weighting Return Low Return High INRSX % Rank
Energy
44.28% 0.00% 89.67% 31.43%
Basic Materials
34.89% 2.49% 100.00% 59.05%
Consumer Defense
6.46% 0.00% 33.96% 25.71%
Industrials
6.34% 0.00% 63.67% 47.62%
Real Estate
4.05% 0.00% 36.20% 8.57%
Utilities
2.15% 0.00% 35.93% 26.67%
Technology
1.39% 0.00% 17.68% 32.38%
Financial Services
0.43% 0.00% 4.52% 12.38%
Healthcare
0.00% 0.00% 22.67% 82.86%
Communication Services
0.00% 0.00% 0.21% 70.48%
Consumer Cyclical
0.00% 0.00% 43.37% 89.52%

Stock Geographic Breakdown

Weighting Return Low Return High INRSX % Rank
US
66.69% 0.00% 99.99% 60.00%
Non US
33.27% 0.00% 89.12% 44.76%

INRSX - Expenses

Operational Fees

INRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.94% 0.08% 4.45% 49.52%
Management Fee 0.85% 0.00% 1.25% 78.10%
12b-1 Fee N/A 0.00% 1.00% 25.93%
Administrative Fee N/A 0.03% 0.25% 8.62%

Sales Fees

INRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

INRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

INRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 116.00% 4.00% 169.00% 94.25%

INRSX - Distributions

Dividend Yield Analysis

INRSX Category Low Category High INRSX % Rank
Dividend Yield 2.19% 0.00% 12.19% 43.81%

Dividend Distribution Analysis

INRSX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

INRSX Category Low Category High INRSX % Rank
Net Income Ratio 2.46% -35.65% 6.21% 17.31%

Capital Gain Distribution Analysis

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

Distributions History

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INRSX - 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
0.16 24.18 7.58 0.16