Continue to site >
Trending ETFs

Name

As of 12/10/2021

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

$5.15

$965 M

0.00%

1.62%

Vitals

YTD Return

N/A

1 yr return

4.4%

3 Yr Avg Return

4.1%

5 Yr Avg Return

3.4%

Net Assets

$965 M

Holdings in Top 10

15.0%

52 WEEK LOW AND HIGH

$5.2
$5.07
$5.18

Expenses

OPERATING FEES

Expense Ratio 1.62%

SALES FEES

Front Load N/A

Deferred Load 5.00%

TRADING FEES

Turnover 7.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$750

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/10/2021

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

$5.15

$965 M

0.00%

1.62%

IYIBX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.85%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Delaware Ivy Municipal High Income Fund
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    May 18, 2009
  • Shares Outstanding
    N/A
  • Share Class
    B
  • Currency
    USD
  • Domiciled Country
    United States

Fund Description

Delaware Ivy Municipal High Income Fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in a diversified portfolio of municipal bonds. Municipal bonds are obligations issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia, Puerto Rico, the US Virgin Islands and Guam), the interest on which is excludable from gross income for federal income tax purposes, although a significant portion of such interest may be an item of tax preference for purposes of the federal alternative minimum tax (AMT) (Tax Preference Item). (Under 2017 legislation commonly known as the Tax Cuts and Jobs Act, corporations no longer are subject to the AMT for taxable years of the corporation beginning after December 31, 2017.)

The Fund typically invests at least 65% of its total assets in medium- and lower-quality bonds that include bonds rated BBB+ or lower 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 Delaware Management Company (Manager) to be of comparable quality. Such investments include non-investment grade debt securities, commonly called “high yield” or “junk” bonds, which typically are rated BB+ or lower by S&P, or comparably rated by another NRSRO or, if unrated, determined by the Manager to be of comparable quality. The Fund may invest up to 100% of its total assets in non-investment grade bonds. Although the Manager considers credit ratings in selecting investments for the Fund, the Manager bases its investment decision for a particular instrument primarily on its own credit analysis and not on a NRSRO’s credit rating. The Manager will consider, among other things, the issuer’s financial resources and operating history, its sensitivity to economic conditions and trends, its debt maturity schedules and borrowing requirements, and relative values based on anticipated cash flow, and interest and asset coverage.

The Fund may invest in higher-quality municipal bonds at times when yield spreads are narrow and the Manager believes that the higher yields do not justify the increased risk, and/or when, in the opinion of the Manager, there is a lack of medium- and lower-quality bonds in which to invest.

After conducting a top-down (assessing the market environment) analysis of the municipal high income market, the Manager uses a research-oriented, bottom-up (researching individual issuers) credit-by-credit investment approach. The Manager considers a number of factors in selecting individual securities for the Fund’s portfolio, including the security’s current coupon, the maturity, relative value and market yield of the security, the creditworthiness of the particular issuer or of the private company involved, the sector in which the security is identified, the structure of the security, including whether it has a call feature, and the state in which the security is issued.

The Fund primarily invests in revenue bonds: revenue bonds are payable only from specific sources, such as the revenue from a particular project, a special tax, lease payments and/or appropriated funds. Revenue bonds include certain private activity bonds (PABs), which finance privately operated facilities. Revenue bonds also include housing bonds that finance pools of single-family home mortgages and student loan bonds that finance pools of student loans, as well as bonds that finance charter schools. Revenue bonds also include tobacco bonds that are issued by state-created special purpose entities as a means to securitize a state’s share of annual tobacco settlement revenues.

The Fund may invest in PABs in general, in revenue bonds payable from revenues derived from similar projects, such as those in the health care, life care, education, transportation and special tax sectors, and in municipal bonds of issuers located in the same geographical area.

Generally, in determining whether to sell a security, the Manager uses the same type of analysis that it uses when buying securities to determine whether the security continues to be a desired investment for the Fund, including consideration of the security’s current credit quality. Additionally, the Manager may sell a security 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.

Read More

IYIBX - Performance

Return Ranking - Trailing

Period IYIBX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -24.0% -1.0% 67.73%
1 Yr 4.4% -23.9% 4.4% 0.45%
3 Yr 4.1%* -9.8% 4.1% 0.46%
5 Yr 3.4%* -5.5% 3.4% 0.52%
10 Yr 3.6%* -3.6% 4.3% 1.59%

* Annualized

Return Ranking - Calendar

Period IYIBX Return Category Return Low Category Return High Rank in Category (%)
2023 1.6% -1.9% 7.6% 67.73%
2022 0.4% -5.2% 2.1% 40.83%
2021 1.8% -0.2% 5.7% 38.68%
2020 -2.7% -4.1% 3.4% 99.48%
2019 0.0% -0.1% 2.6% 97.70%

Total Return Ranking - Trailing

Period IYIBX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -24.0% -1.0% 67.73%
1 Yr -0.6% -23.9% 0.4% 0.90%
3 Yr 3.2%* -9.8% 3.2% 0.46%
5 Yr 3.0%* -5.1% 3.0% 0.52%
10 Yr 3.6%* -3.6% 4.3% 1.59%

* Annualized

Total Return Ranking - Calendar

Period IYIBX Return Category Return Low Category Return High Rank in Category (%)
2023 1.6% -1.9% 7.6% 67.73%
2022 0.4% -5.2% 2.1% 40.83%
2021 1.8% -0.2% 5.7% 40.09%
2020 -2.7% -4.1% 3.4% 99.48%
2019 0.1% -0.1% 2.6% 95.98%

NAV & Total Return History


IYIBX - Holdings

Concentration Analysis

IYIBX Category Low Category High IYIBX % Rank
Net Assets 965 M 9.79 K 20.2 B 46.43%
Number of Holdings 242 1 3950 71.88%
Net Assets in Top 10 145 M -102 M 3.41 B 43.75%
Weighting of Top 10 14.97% 1.1% 97.0% 37.22%

Top 10 Holdings

  1. PENNSYLVANIA ST TPK COMMN TPK REV 6.29% 1.82%
  2. GDB DEBT RECOVERY AUTH OF COMWLTH PUERTO RICO 7.5% 1.70%
  3. CHILDRENS TR FD P R TOB SETTLEMENT REV 0% 1.63%
  4. PORT PORTLAND ORE ARPT REV 4% 1.57%
  5. DELAWARE CNTY PA INDL DEV AUTH CHARTER SCH REV 6.13% 1.44%
  6. PUBLIC AUTH FOR COLO ENERGY NAT GAS PUR REV 6.5% 1.42%
  7. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 1.41%
  8. CALIFORNIA EDL FACS AUTH REV 5% 1.38%
  9. PUERTO RICO COMWLTH 6% 1.38%
  10. MARTIN CNTY FLA HEALTH FACS AUTH HOSP REV 4% 1.36%

Asset Allocation

Weighting Return Low Return High IYIBX % Rank
Bonds
99.35% 0.00% 146.69% 41.85%
Cash
0.65% -3.16% 100.00% 61.16%
Stocks
0.00% 0.00% 5.80% 83.70%
Preferred Stocks
0.00% -47.61% 0.32% 76.34%
Other
0.00% 0.00% 0.18% 77.23%
Convertible Bonds
0.00% 0.00% 0.00% 76.34%

Bond Sector Breakdown

Weighting Return Low Return High IYIBX % Rank
Municipal
99.35% 0.00% 100.00% 26.79%
Cash & Equivalents
0.65% 0.00% 100.00% 61.16%
Derivative
0.00% 0.00% 0.02% 75.45%
Securitized
0.00% 0.00% 22.44% 77.68%
Corporate
0.00% 0.00% 4.15% 85.71%
Government
0.00% 0.00% 0.09% 77.68%

Bond Geographic Breakdown

Weighting Return Low Return High IYIBX % Rank
US
87.14% 0.00% 139.84% 75.89%
Non US
12.21% 0.00% 21.09% 8.04%

IYIBX - Expenses

Operational Fees

IYIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.62% 0.05% 2.63% 12.79%
Management Fee 0.51% 0.00% 1.41% 63.88%
12b-1 Fee 1.00% 0.00% 1.00% 95.80%
Administrative Fee N/A 0.02% 0.35% 7.89%

Sales Fees

IYIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load 5.00% 1.00% 5.50% 7.32%

Trading Fees

IYIBX 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.

IYIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 7.00% 2.00% 121.00% 2.87%

IYIBX - Distributions

Dividend Yield Analysis

IYIBX Category Low Category High IYIBX % Rank
Dividend Yield 0.00% 0.00% 13.48% 85.46%

Dividend Distribution Analysis

IYIBX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

IYIBX Category Low Category High IYIBX % Rank
Net Income Ratio 2.85% 1.11% 5.70% 68.28%

Capital Gain Distribution Analysis

IYIBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

IYIBX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.34 2.52