Delaware Ivy Total Return Bond Fund
Name
As of 04/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.4%
1 yr return
2.8%
3 Yr Avg Return
-1.8%
5 Yr Avg Return
0.1%
Net Assets
$25.8 M
Holdings in Top 10
22.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.91%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 119.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
IRBIX - Profile
Distributions
- YTD Total Return -1.4%
- 3 Yr Annualized Total Return -1.8%
- 5 Yr Annualized Total Return 0.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.20%
- Dividend Yield 8.3%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDelaware Ivy Total Return Bond Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateJan 04, 2016
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAndrew Vonthethoff
Fund Description
Delaware Ivy Total Return Bond Fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in bonds. Under normal circumstances, the Fund invests at least 40% of its total assets in securities of non-US issuers. The Fund may invest up to 100% of its total assets in foreign securities and in securities denominated in currencies other than the US dollar, although the Fund will limit its foreign currency exposure (from non-US dollar-denominated securities or currencies) to 75% of its total assets as described below. The Fund has the flexibility to invest in any form of debt security, including, but not limited to, US government and foreign government securities, corporate bonds, convertible and non-convertible bonds, inflation-indexed bonds, and asset- and mortgage-backed securities. The Fund also may invest in currencies. The Fund may invest directly in the debt securities listed above, as well as in derivatives instruments that provide investment exposure to such debt securities. The Fund is unconstrained in its investment approach, meaning that it is not limited by the types of investments in a particular securities index, nor is it limited to any single type of investment strategy.
For the purposes of this section, a reference to the Manager may also include Macquarie Investment Management Global Limited (MIMGL with respect to its role as sub-advisor of the Fund.
The Manager may consider analysis of environmental, social and governance (ESG) factors in evaluating investments for the Fund. This analysis considers various inputs, including metrics sourced from external parties and ESG research providers; commitments on ESG progress from issuers; specific bond formats (such as green or sustainability-linked bonds); issuer engagement; and other external and proprietary inputs to judge the issuer’s contribution to improvements in ESG practice. The Fund may favor securities of issuers that are judged by the Manager to meet high ESG standards, and may avoid investment in certain industry sectors, or in securities of issuers that are judged to not meet the Manager’s ESG requirements. The Manager relies on a proprietary ESG framework where issuers are assessed on their exposure to, and management of, environmental, social and governance risks. The Manager’s ESG framework relies on its quantitative and qualitative analysis of factors such as industry sector, issuer specific factors such as history and management, and data from multiple sources, including government reports, company filings and external data providers. This framework is subjective in nature and not intended to be an exhaustive list of all possible risks and are provided as an indication of the types of factors being utilized by the Manager.
As described in more detail below, the Fund expects to use derivatives for various purposes. The Fund may take long positions in derivatives (the values of which typically move in the same direction as the prices of the underlying investments) and short positions in derivatives (the values of which typically move in the opposite direction from the prices of the underlying investments).
The Fund may invest in debt securities of any credit rating and may invest up to 50% of its total assets in non-investment grade debt securities, or high yield or junk bonds, which include bonds rated BB+ or below 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 to be of comparable quality by the Manager.
The Fund may invest in debt securities from any market or country or denominated in any currency, including issuers located in, and/or generating revenue from, both developed and emerging markets. The Fund will limit its foreign currency exposure (from non-US dollar-denominated securities or currencies) to 75% of its total assets. The Fund reserves the right to hedge its exposure to foreign currencies to reduce the risk of loss from fluctuations in currency exchange rates, but is under no obligation to do so under any circumstances. The Fund expects to use a variety of derivatives instruments for various purposes.
The Fund may invest in bonds of any maturity or duration.
The Fund will use derivatives for both hedging and nonhedging purposes. 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; interest rate swaps to neutralize the impact of interest rate changes; credit default swaps to hedge against a credit event, to gain exposure to certain securities or markets, or to enhance total return; and index swaps to enhance return or to effect diversification. The Fund will not use derivatives for reasons inconsistent with its investment objective.
MIMGL, an affiliate of the Manager, serves as the Fund’s sub-advisor and manages the Fund’s assets. The Manager may seek investment advice and recommendations from its other affiliates: Macquarie Investment Management Austria Kapitalanlage AG (MIMAK) and Macquarie Investment
Management Europe Limited (MIMEL) (together with MIMGL, 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.
IRBIX - Performance
Return Ranking - Trailing
Period | IRBIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.4% | -8.0% | 15.4% | 98.32% |
1 Yr | 2.8% | -6.3% | 30.5% | 98.01% |
3 Yr | -1.8%* | -16.8% | 17.1% | 91.82% |
5 Yr | 0.1%* | -14.0% | 14.3% | 88.45% |
10 Yr | N/A* | -6.8% | 6.9% | N/A |
* Annualized
Return Ranking - Calendar
Period | IRBIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.3% | -12.0% | 15.7% | 3.67% |
2022 | -17.3% | -31.8% | 18.4% | 85.27% |
2021 | -5.2% | -16.2% | 25.7% | 90.76% |
2020 | 2.1% | -31.1% | 18.7% | 47.18% |
2019 | 5.3% | -6.1% | 15.3% | 40.30% |
Total Return Ranking - Trailing
Period | IRBIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.4% | -8.0% | 15.4% | 98.32% |
1 Yr | 2.8% | -6.3% | 30.5% | 98.01% |
3 Yr | -1.8%* | -16.8% | 17.1% | 91.82% |
5 Yr | 0.1%* | -14.0% | 14.3% | 88.45% |
10 Yr | N/A* | -6.8% | 6.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | IRBIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.3% | -6.9% | 22.2% | 60.55% |
2022 | -9.7% | -31.8% | 21.1% | 55.33% |
2021 | -2.7% | -13.5% | 49.9% | 93.84% |
2020 | 3.6% | -28.6% | 24.1% | 67.43% |
2019 | 7.5% | -4.8% | 19.1% | 63.88% |
NAV & Total Return History
IRBIX - Holdings
Concentration Analysis
IRBIX | Category Low | Category High | IRBIX % Rank | |
---|---|---|---|---|
Net Assets | 25.8 M | 2.53 M | 143 B | 97.64% |
Number of Holdings | 167 | 4 | 9195 | 75.93% |
Net Assets in Top 10 | 5.77 M | -204 M | 80.4 B | 97.22% |
Weighting of Top 10 | 22.34% | 6.2% | 209.5% | 62.83% |
Top 10 Holdings
- Bundesrepublik Deutschland Bundesanleihe 4.04%
- United States Treasury Note/Bond 2.77%
- Netherlands Government Bond 2.30%
- United States Treasury Note/Bond 2.30%
- Japan Government Thirty Year Bond 2.25%
- United Kingdom Gilt 2.02%
- Kingdom of Belgium Government Bond 1.69%
- Fidelity Government Portfolio 1.65%
- BlackRock Liquidity FedFund 1.65%
- MSILF Government Portfolio 1.65%
Asset Allocation
Weighting | Return Low | Return High | IRBIX % Rank | |
---|---|---|---|---|
Bonds | 91.60% | 0.00% | 192.97% | 44.60% |
Cash | 9.12% | -94.66% | 91.07% | 22.69% |
Convertible Bonds | 4.60% | 0.00% | 33.50% | 18.54% |
Stocks | 0.00% | -4.92% | 99.66% | 89.81% |
Preferred Stocks | 0.00% | 0.00% | 26.42% | 77.47% |
Other | -0.72% | -73.61% | 112.16% | 92.90% |
Bond Sector Breakdown
Weighting | Return Low | Return High | IRBIX % Rank | |
---|---|---|---|---|
Government | 55.48% | 0.00% | 99.43% | 3.18% |
Corporate | 25.37% | 0.00% | 96.66% | 61.15% |
Cash & Equivalents | 6.61% | 0.00% | 88.00% | 28.33% |
Securitized | 0.00% | 0.00% | 99.65% | 96.66% |
Municipal | 0.00% | 0.00% | 54.26% | 75.96% |
Derivative | -0.72% | -73.61% | 112.16% | 93.50% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | IRBIX % Rank | |
---|---|---|---|---|
US | 52.14% | 0.00% | 192.97% | 78.70% |
Non US | 39.46% | 0.00% | 74.14% | 5.86% |
IRBIX - Expenses
Operational Fees
IRBIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.91% | 0.03% | 20.67% | 21.08% |
Management Fee | 0.90% | 0.00% | 2.29% | 79.33% |
12b-1 Fee | N/A | 0.00% | 1.00% | 14.46% |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
IRBIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
IRBIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 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.
IRBIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 119.00% | 0.00% | 632.00% | 73.56% |
IRBIX - Distributions
Dividend Yield Analysis
IRBIX | Category Low | Category High | IRBIX % Rank | |
---|---|---|---|---|
Dividend Yield | 8.35% | 0.00% | 23.30% | 87.31% |
Dividend Distribution Analysis
IRBIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
IRBIX | Category Low | Category High | IRBIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.20% | -1.55% | 11.51% | 90.60% |
Capital Gain Distribution Analysis
IRBIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 22, 2024 | $0.173 | OrdinaryDividend |
Jun 22, 2023 | $0.080 | OrdinaryDividend |
Dec 15, 2022 | $0.753 | OrdinaryDividend |
Dec 16, 2021 | $0.044 | OrdinaryDividend |
Dec 16, 2021 | $0.120 | CapitalGainShortTerm |
Dec 16, 2021 | $0.099 | CapitalGainLongTerm |
Dec 10, 2020 | $0.027 | OrdinaryDividend |
Dec 10, 2020 | $0.122 | CapitalGainShortTerm |
Dec 12, 2019 | $0.179 | OrdinaryDividend |
Dec 12, 2019 | $0.015 | CapitalGainShortTerm |
Dec 12, 2019 | $0.018 | CapitalGainLongTerm |
Dec 13, 2018 | $0.511 | OrdinaryDividend |
Dec 14, 2017 | $0.073 | OrdinaryDividend |
Dec 08, 2016 | $0.148 | OrdinaryDividend |
Dec 08, 2016 | $0.038 | CapitalGainShortTerm |
Dec 08, 2016 | $0.054 | CapitalGainLongTerm |
IRBIX - Fund Manager Analysis
Managers
Andrew Vonthethoff
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Andrew Vonthethoff is a portfolio manager for the Macquarie Investment Management Fixed Income (MFI) credit and multi-sector strategies. He is also a portfolio manager for the Macquarie Dynamic Bond Fund and Macquarie Income Opportunities Fund. Since transferring from the MFI quantitative and markets research team in 2010, Vonthethoff has been responsible for portfolio management, including global relative value, sector rotation, and security selection. Vonthethoff joined the firm in 2008 as a quantitative analyst, and was involved in building and maintaining financial models as well as providing general quantitative and systems support across MFI. Vonthethoff earned a Bachelor of Commerce (Actuarial Studies and Finance) from the University of New South Wales.
Matthew Mulcahy
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Matthew Mulcahy leads the Macquarie Investment Management Fixed Income(MFI) global Rates and Currency team. He is also a lead portfolio manager of the Macquarie Australian Fixed Interest Fund and Macquarie Dynamic Bond, and co-manages MFI’s Australian fixed interest portfolios. Mulcahy’s experience and expertise has contributed to MFI’s investment strategies across all the cash and fixed income solutions globally. Mulcahy joined Macquarie Investment Management in 2015, and before that he spent nine years as a senior portfolio manager at PIMCO and was also a member of the Macro Strategic Trading Team at UBS. He holds a Bachelor of Business in Accounting and Finance from the University of Technology Sydney.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.72 | 3.19 |