Delaware VIP® Emerging Markets Series

Key features

  • Investment approach geared towards long-term structural growth opportunities — focus on companies versus countries
  • Emphasis on companies with franchise sustainability and attractive valuations
  • Dedicated emerging market team has managed the Series since 2006
Series information
Inception date05/01/2000
Dividends paid (if any)Annually
Capital gains paid (if any)Annually
Series identifier
CUSIP246493886

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.

Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.

Average annual total return

as of month-end (10/31/2019)

as of quarter-end (09/30/2019)

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)11.53%10.82%7.73%2.92%4.51%9.20%05/01/2000
MSCI Emerging Markets Index (Net)10.35%11.86%7.36%2.93%3.78%n/a
MSCI Emerging Markets Index (Gross)10.71%12.29%7.76%3.32%4.14%n/a
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-1.50%-1.32%6.16%2.00%3.70%8.96%05/01/2000
MSCI Emerging Markets Index (Net)-4.25%-2.02%5.97%2.33%3.37%n/a
MSCI Emerging Markets Index (Gross)-4.11%-1.63%6.37%2.71%3.73%n/a

Returns for less than one year are not annualized.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Expense ratio
Gross1.64%
Net1.58%

Net expense ratio reflects contractual fee waivers from April 30, 2019 to April 30, 2020. Please see the fee table in the Series' prospectus for more information.

The performance and expense ratio information shown represent the performance and fees as they relate to actual shares of the Series. These examples do not include any fees or sales charges imposed by the variable insurance contract for which the Series is an investment option. If they were included, your costs would be higher and performance would be lower. Investors should consult the contract prospectus or disclosure documents for more information.

Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
20199.96%-1.93%-1.50%n/an/a
20180.80%-10.25%-0.09%-7.10%-16.03%
201714.15%4.74%13.25%3.57%40.22%
20165.80%0.54%11.72%-4.33%13.68%
2015-1.95%3.12%-20.18%5.60%-14.77%
2014-2.90%8.01%-4.00%-8.89%-8.26%
20131.42%-5.75%11.17%3.38%9.86%
201212.09%-10.85%7.16%6.63%14.19%
20112.26%-2.58%-24.11%5.82%-20.00%
20101.70%-10.13%17.36%10.21%18.21%
2009-1.87%34.04%23.89%9.03%77.67%
Portfolio characteristics - as of 10/31/2019
Number of holdings114
Market cap (median) Source: FactSet$5.5 billion
Market cap (weighted average) Source: FactSet$73.6 billion
Portfolio turnover (last fiscal year)11%
Beta, 3 years (relative to MSCI Emerging Markets Index (Net)) (view definition)1.06
Annualized standard deviation, 3 years (view definition)16.03
Portfolio composition as of 10/31/2019Total may not equal 100% due to rounding.
International equities & depositary receipts99.3%
Cash and cash equivalents0.5%
Domestic equities0.1%
Top 10 holdings as of 10/31/2019

Holdings are as of the date indicated and subject to change.

List may exclude cash, cash equivalents, and exchanged-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.

Holdings based by issuer.

Holding% of portfolio
Samsung Electronics Co. Ltd.8.75%
Reliance Industries Ltd.8.58%
Taiwan Semiconductor Manufacturing Co. L5.66%
B2W COMPANHIA DIGITAL5.03%
Tencent Holdings Ltd.4.53%
SK Telecom Co. Ltd.3.96%
SK Hynix Inc.3.90%
Alibaba Group Holding Ltd.3.74%
Kweichow Moutai Co. Ltd.3.11%
China Mobile Ltd.2.37%
Total % Portfolio in Top 10 holdings49.63%

Top 10 countries as of 10/31/2019

List may exclude cash, cash equivalents, and exchanged-traded funds (ETFs) that are used for cash management purposes.

Country% of portfolio
China26.7%
South Korea20.1%
Brazil14.4%
India9.7%
Taiwan9.5%
Russia8.4%
Mexico4.4%
Argentina1.3%
Peru0.9%
Chile0.7%
Liu-Er Chen

Liu-Er Chen, CFA

Senior Vice President, Chief Investment Officer — Emerging Markets and Healthcare

Start date on the Fund: September 2006

Years of industry experience: 24

(View bio)


The following table describes the fees and expenses that you may pay if you buy and hold shares of the Series. The fee table does not reflect any fees or sales charges imposed by variable insurance contracts. If it did, the expenses would be higher.

Annual series operating expenses
Management fees1.24%
Distribution and service (12b-1) fees0.30%
Other expenses0.10%
Total annual series operating expenses1.64%
Fee waivers(0.06%)
Total annual series operating expenses after fee waivers1.58%

1The Series' investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short sale dividend and interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducing shareholder meetings, and liquidations) in order to prevent total annual series operating expenses from exceeding 1.28% of the Series' average daily net assets from April 30, 2019 through April 30, 2020. These waivers and reimbursements may only be terminated by agreement of the Manager and the Series.

Carefully consider the Series' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Series' prospectus and its summary prospectus, which may be obtained by visiting delawarefunds.com/vip/literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

International investments entail risks not ordinarily associated with US investments including fluctuation in currency values, differences in accounting principles, or economic or political instability in other nations.

Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility and lower trading volume.

Investments in small and/or medium-sized companies typically exhibit greater risk and higher volatility than larger, more established companies.

All third-party marks cited are the property of their respective owners.

Delaware VIP Series refers to Delaware VIP Funds. Delaware VIP Funds are not available for direct investment except for issuers of variable insurance product contracts. They are available only through the purchase of certain variable insurance products.

Fund Finder

Daily pricing (as of 11/15/2019)

Service ClassPriceNet change
NAV$22.470.24
Max offer price$22.47n/a

Total net assets (as of 10/31/2019)

$650.7 million all share classes

Benchmark, peer group

MSCI Emerging Markets Index (view definition)

Additional information