Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
16.8%
1 yr return
27.7%
3 Yr Avg Return
6.6%
5 Yr Avg Return
10.1%
Net Assets
$1.82 B
Holdings in Top 10
25.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.81%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 33.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
IVAEX - Profile
Distributions
- YTD Total Return 16.8%
- 3 Yr Annualized Total Return 6.6%
- 5 Yr Annualized Total Return 10.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.39%
- Dividend Yield 1.4%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDelaware Ivy Asset Strategy Fund
-
Fund Family NameIvy Funds
-
Inception DateApr 04, 2007
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerF. Chace Brundige
Fund Description
Delaware Ivy Asset Strategy Fund seeks to achieve its objective by allocating its assets among different asset classes of varying correlation around the globe. Delaware Management Company (Manager), the Fund’s investment manager, primarily invests a portion of the Fund’s assets in global equity securities that the Manager believes can outperform the Fund’s benchmark index, the MSCI ACWI Index, over a full market cycle before taking into account fund expenses (the Equity portion). The Manager then invests the Fund’s remaining assets (the Diversifying portion) in various additional asset classes that may have a lower correlation or volatility than the Equity portion, including but not limited to global fixed-income securities, United States Treasury (Treasury) instruments, precious metals, commodities and cash. The Manager may allocate the Fund’s investments among these different asset classes in different proportions at different times, but generally seeks to invest 50%-80% of the Fund’s total assets in equities or equity-like securities and 20%-50% of the Fund’s total assets in the Diversifying portion. In connection with the active allocation among these different asset classes, Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), the sub-advisor to the Fund, will also manage a tactical/completion sleeve. The tactical/completion sleeve will typically vary from 0% to 20% of the Fund’s total assets and primarily hold derivatives and exchange-traded funds (ETFs). If applicable, the derivatives and ETFs within the tactical/completion sleeve will also be counted towards the asset classes noted above. 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.
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 selecting securities for the Fund, the Manager primarily emphasizes a bottom-up (researching individual issuers) approach and seeks to find relative value across the asset classes noted above. Part of the Manager’s investment process also includes a top-down (assessing the market and economic environment) analysis.
With respect to the Equity portion, the Manager seeks what it believes are well-positioned companies with a strong and/or growing sustainable competitive advantage in attractive industries across the globe which the Manager believes can exceed current earnings estimates. The Manager looks for companies that are taking market share within their industries, which results in high levels of cash flow, as well as stable to improving margins and returns. The Manager generally focuses on companies that are growing, innovating, improving margins, returning capital through dividend growth or share buybacks and/or offering what the Manager believes to be sustainable high free cash flow.
The Fund has the flexibility to invest in both growth and value companies. Although the Fund primarily invests in securities issued by large, well-established companies, it may invest in securities issued by companies of any size.
Within the Diversifying portion, the Fund has the flexibility to invest in a wide range of assets that, in the Manager’s view, present attractive risk-adjusted returns as compared to the Equity portion, and/or reduce the Fund’s overall risk profile. Diversifying assets may be comprised of global fixed-income instruments, including investment-grade and high-yield bonds, as well as emerging market, corporate and sovereign bonds and bank loans. Such fixed-income instruments may include a significant amount, up to 35% of the Fund’s total assets, in high-yield/high-risk bonds, 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 by the Manager to be of comparable quality. When selecting these instruments, the Manager focuses heavily on free cash flow and an issuer’s ability to de-lever itself (in other words, to reduce debt) through the credit cycle. The Fund also can invest in government securities issued by the Treasury (such as Treasury bills, notes or bonds), obligations issued or guaranteed as to principal and interest (but
not as to market value) by the US government, its agencies or instrumentalities, international and supranational bonds issued or guaranteed by other governments, and mortgage-backed securities issued or guaranteed by government agencies or government-sponsored enterprises, as well as Treasury inflation-protected securities (TIPs), and cash.
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.
Within each of the Equity and the Diversifying portions, the Fund may invest in US and foreign securities. The Equity portion of the Fund generally will invest at least 30% of its assets, and may invest up to 75%, in foreign securities and in securities denominated in currencies other than the US dollar, including issuers located in and/or generating revenue from emerging markets. 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 Manager may allocate the Fund’s investments among the different types of assets noted above in different proportions at different times (keeping in mind the general percentages noted above) and may exercise a flexible strategy in selecting investments. The Manager does not intend to concentrate the Fund in any geographical region or industry sector; however, it is not limited by investment style or by the issuer’s location or industry sector.
Subject to diversification limits, the Fund also may invest up to 10% of its total assets at the time of investment in precious metals.
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.
IVAEX - Performance
Return Ranking - Trailing
Period | IVAEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.8% | -23.7% | 16.4% | 65.45% |
1 Yr | 27.7% | -8.9% | 48.3% | 35.41% |
3 Yr | 6.6%* | -2.2% | 16.4% | 10.47% |
5 Yr | 10.1%* | -0.7% | 13.4% | 4.21% |
10 Yr | 6.6%* | 0.9% | 11.8% | 46.52% |
* Annualized
Return Ranking - Calendar
Period | IVAEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.4% | -40.8% | 20.6% | 54.32% |
2022 | -26.2% | -21.0% | 24.5% | 15.26% |
2021 | 2.1% | -24.2% | 27.8% | 17.52% |
2020 | 10.3% | -23.1% | 11.7% | 96.77% |
2019 | 15.1% | -100.0% | 20.6% | 12.53% |
Total Return Ranking - Trailing
Period | IVAEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.8% | -23.7% | 16.4% | 64.38% |
1 Yr | 27.7% | -12.8% | 48.3% | 32.63% |
3 Yr | 6.6%* | -3.4% | 16.4% | 9.17% |
5 Yr | 10.1%* | -1.1% | 13.4% | 3.66% |
10 Yr | 6.6%* | 0.9% | 11.8% | 43.92% |
* Annualized
Total Return Ranking - Calendar
Period | IVAEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.8% | -40.8% | 20.6% | 54.32% |
2022 | -13.2% | -21.0% | 24.5% | 15.26% |
2021 | 14.0% | -24.2% | 27.8% | 17.76% |
2020 | 13.7% | -23.1% | 11.7% | 4.96% |
2019 | 22.1% | -2.9% | 23.1% | 7.36% |
NAV & Total Return History
IVAEX - Holdings
Concentration Analysis
IVAEX | Category Low | Category High | IVAEX % Rank | |
---|---|---|---|---|
Net Assets | 1.82 B | 1.12 M | 110 B | 22.46% |
Number of Holdings | 395 | 2 | 10961 | 56.99% |
Net Assets in Top 10 | 458 M | -31.7 M | 22 B | 27.14% |
Weighting of Top 10 | 25.03% | 10.8% | 100.0% | 65.63% |
Top 10 Holdings
- GOLD SPOT $/OZ - GOLD BULLION 4.18%
- Microsoft Corp 4.01%
- NVIDIA Corp 2.99%
- Alphabet Inc 2.59%
- Amazon.com Inc 2.37%
- Taiwan Semiconductor Manufacturing Co Ltd 2.15%
- Apple Inc 2.00%
- Eli Lilly Co 1.75%
- KLA Corp 1.55%
- Mastercard Inc 1.44%
Asset Allocation
Weighting | Return Low | Return High | IVAEX % Rank | |
---|---|---|---|---|
Stocks | 73.17% | -45.72% | 98.42% | 28.81% |
Bonds | 22.89% | -39.76% | 93.84% | 64.30% |
Convertible Bonds | 4.25% | 0.00% | 25.49% | 11.90% |
Cash | 3.48% | -97.12% | 185.58% | 76.62% |
Preferred Stocks | 0.44% | -0.03% | 14.00% | 45.51% |
Other | 0.03% | -1.25% | 197.12% | 17.33% |
Stock Sector Breakdown
Weighting | Return Low | Return High | IVAEX % Rank | |
---|---|---|---|---|
Technology | 19.46% | 0.00% | 39.48% | 27.81% |
Consumer Cyclical | 15.70% | 0.00% | 20.84% | 43.31% |
Industrials | 15.02% | 0.09% | 32.39% | 2.34% |
Financial Services | 13.85% | 0.00% | 30.34% | 42.89% |
Healthcare | 13.62% | 0.00% | 30.30% | 32.91% |
Communication Services | 9.34% | 0.00% | 28.59% | 22.72% |
Energy | 6.23% | 0.00% | 38.61% | 53.29% |
Consumer Defense | 4.08% | 0.00% | 31.85% | 46.07% |
Real Estate | 1.41% | 0.00% | 90.14% | 85.56% |
Basic Materials | 1.01% | 0.00% | 60.23% | 97.03% |
Utilities | 0.28% | 0.00% | 40.29% | 87.26% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | IVAEX % Rank | |
---|---|---|---|---|
US | 51.63% | -4.82% | 95.75% | 32.99% |
Non US | 21.54% | -46.69% | 57.06% | 34.86% |
Bond Sector Breakdown
Weighting | Return Low | Return High | IVAEX % Rank | |
---|---|---|---|---|
Corporate | 68.72% | 0.00% | 99.90% | 10.65% |
Government | 10.31% | 0.00% | 98.64% | 72.65% |
Securitized | 7.65% | 0.00% | 83.28% | 40.08% |
Cash & Equivalents | 2.75% | 0.10% | 100.00% | 77.45% |
Municipal | 0.26% | 0.00% | 31.28% | 6.47% |
Derivative | -0.01% | 0.00% | 41.88% | 86.01% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | IVAEX % Rank | |
---|---|---|---|---|
US | 22.89% | -177.12% | 87.76% | 65.55% |
Non US | 0.00% | -39.00% | 137.36% | 45.30% |
IVAEX - Expenses
Operational Fees
IVAEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.81% | 0.16% | 2.71% | 69.94% |
Management Fee | 0.68% | 0.00% | 1.70% | 46.47% |
12b-1 Fee | N/A | 0.00% | 1.00% | 9.31% |
Administrative Fee | N/A | 0.01% | 0.70% | 3.27% |
Sales Fees
IVAEX 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% | 5.50% | N/A |
Trading Fees
IVAEX 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.
IVAEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 33.00% | 0.00% | 441.00% | 26.79% |
IVAEX - Distributions
Dividend Yield Analysis
IVAEX | Category Low | Category High | IVAEX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.44% | 0.00% | 10.92% | 81.50% |
Dividend Distribution Analysis
IVAEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
IVAEX | Category Low | Category High | IVAEX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.39% | -5.20% | 6.33% | 45.97% |
Capital Gain Distribution Analysis
IVAEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 20, 2024 | $0.085 | OrdinaryDividend |
Mar 22, 2024 | $0.160 | OrdinaryDividend |
Dec 15, 2023 | $0.231 | OrdinaryDividend |
Sep 22, 2023 | $0.145 | OrdinaryDividend |
Jun 22, 2023 | $0.128 | OrdinaryDividend |
Mar 22, 2023 | $0.085 | OrdinaryDividend |
Dec 15, 2022 | $3.014 | OrdinaryDividend |
Sep 15, 2022 | $0.097 | OrdinaryDividend |
Jun 07, 2022 | $0.087 | OrdinaryDividend |
Mar 10, 2022 | $0.042 | OrdinaryDividend |
Dec 16, 2021 | $2.496 | OrdinaryDividend |
Sep 16, 2021 | $0.135 | OrdinaryDividend |
Jun 10, 2021 | $0.190 | OrdinaryDividend |
Mar 11, 2021 | $0.043 | OrdinaryDividend |
Dec 10, 2020 | $0.443 | OrdinaryDividend |
Sep 10, 2020 | $0.112 | OrdinaryDividend |
Jun 11, 2020 | $0.094 | OrdinaryDividend |
Mar 12, 2020 | $0.043 | OrdinaryDividend |
Dec 12, 2019 | $0.270 | OrdinaryDividend |
Dec 12, 2019 | $0.806 | CapitalGainLongTerm |
Sep 12, 2019 | $0.104 | OrdinaryDividend |
Jun 13, 2019 | $0.064 | OrdinaryDividend |
Mar 14, 2019 | $0.064 | OrdinaryDividend |
Dec 13, 2018 | $0.033 | OrdinaryDividend |
Dec 13, 2018 | $0.100 | CapitalGainLongTerm |
Oct 31, 2018 | $0.131 | OrdinaryDividend |
Oct 31, 2018 | $0.060 | CapitalGainShortTerm |
Oct 31, 2018 | $3.300 | CapitalGainLongTerm |
Sep 13, 2018 | $0.126 | OrdinaryDividend |
Jun 14, 2018 | $0.121 | OrdinaryDividend |
Dec 14, 2017 | $0.347 | OrdinaryDividend |
Dec 14, 2017 | $0.452 | CapitalGainLongTerm |
Dec 10, 2015 | $0.110 | OrdinaryDividend |
Dec 10, 2015 | $1.369 | CapitalGainLongTerm |
Dec 11, 2014 | $0.194 | OrdinaryDividend |
Dec 11, 2014 | $4.849 | CapitalGainLongTerm |
Dec 12, 2013 | $0.194 | OrdinaryDividend |
Dec 13, 2012 | $0.767 | OrdinaryDividend |
Dec 08, 2011 | $0.332 | OrdinaryDividend |
Dec 09, 2010 | $0.062 | OrdinaryDividend |
Dec 10, 2009 | $0.128 | OrdinaryDividend |
Dec 11, 2008 | $0.025 | OrdinaryDividend |
Dec 11, 2008 | $1.767 | CapitalGainShortTerm |
Dec 11, 2008 | $0.624 | CapitalGainLongTerm |
Jun 12, 2008 | $0.028 | OrdinaryDividend |
Dec 13, 2007 | $0.133 | OrdinaryDividend |
Dec 13, 2007 | $0.109 | CapitalGainShortTerm |
Dec 13, 2007 | $0.093 | CapitalGainLongTerm |
Jun 14, 2007 | $0.110 | OrdinaryDividend |
IVAEX - Fund Manager Analysis
Managers
F. Chace Brundige
Start Date
Tenure
Tenure Rank
Aug 04, 2014
7.83
7.8%
Mr. Brundige joined Ivy Investment Management Company as an assistant portfolio manager for the Large Cap Growth equity team, and became a portfolio manager in Feb. 2006. He is Senior Vice President of IICO, Vice President of the Trust, and Vice President of and portfolio manager for other investment companies for which IICO serves as investment manager. Mr. Brundige holds a BS degree in Finance from Kansas State University, and has earned an MBA with an emphasis in Finance and Accounting from the University of Chicago Graduate School of Business. Mr. Brundige is a Chartered Financial Analyst.
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).
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.
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 |
---|---|---|---|
0.03 | 30.27 | 6.52 | 9.25 |