Delaware Diversified Income Fund

Key features

  • A flexible core bond fund designed to weather market cycles
  • An actively managed bond portfolio emphasizing risk control and income generation
  • An experienced management team with nearly 30 years of industry experience
Fund information
Inception date10/28/2002
Dividends paid (if any)Monthly
Capital gains paid (if any)November or December
Fund identifiers

Institutional Class shares available only available to certain investors. See the prospectus for more information.

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 (11/30/2018)

as of quarter-end (09/30/2018)

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-2.78%-2.37%1.86%2.20%5.89%5.86%10/28/2002
Bloomberg Barclays US Aggregate Index-1.79%-1.34%1.33%2.03%3.67%n/a
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)0.16%-1.46%2.05%2.58%5.49%5.97%10/28/2002
Bloomberg Barclays US Aggregate Index0.02%-1.22%1.31%2.16%3.77%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

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from April 1, 2018 through April 1, 2019. Please see the fee table in the Fund's prospectus for more information.

Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return

Institutional Class shares available only available to certain investors. See the prospectus for more information.

Portfolio characteristics - as of 11/30/2018Bloomberg Barclays US Aggregate Index
Number of holdings1,34610,248
Number of credit issuers523
Portfolio turnover (last fiscal year)125%n/a
Effective duration (weighted average) (view definition)6.41 years5.97 years
Effective maturity (weighted average) (view definition)8.71 years8.35 years
Yield to maturity (view definition)4.73%3.55%
Average market price (view definition)$99.55$98.30
Average coupon (view definition)4.40%3.19%
Yield to worst (view definition)4.66%3.54%
SEC 30-day yield with waiver (view definition)4.57%
SEC 30-day yield without waiver (view definition)4.40%
Annualized standard deviation, 3 years (view definition)2.59n/a
Portfolio composition as of 11/30/2018Total may not equal 100% due to rounding.
High grade securities75.0%
High yield securities16.4%
Emerging markets6.9%
International developed1.8%
Top 10 fixed income holdings as of 11/30/2018

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

List excludes cash and cash equivalents.

Holding% of portfolio
United States Treasury Note Bond 2.875 8/15/20284.19%
United States Treasury Note Bond 2.875 10/31/20233.47%
United States Treasury Note Bond 3.125 11/15/20282.81%
FNCL 3.5 1/192.60%
Dow Chemical Co. 8.550 5/15/20190.85%
United States Treasury Note Bond 2.875 9/30/20230.73%
FN AL99030.69%
FG G616030.59%
USB Capital IX 3.500 10/29/20490.55%
KeyBank NA Cleveland OH 6.950 2/1/20280.52%
Total % Portfolio in Top 10 holdings17.00%
Fixed income sectors as of 11/30/2018

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.

Investment grade credits32.9%
High yield credits15.1%
MBS and CMOs15.0%
U.S. Treasury securities11.2%
Asset-backed securities9.3%
Commercial mortgage-backed securities7.4%
Emerging markets6.9%
International developed1.8%
Municipal bonds0.1%
Credit quality as of 11/30/2018
Not rated0.1%0.0%

Total may not equal 100% due to rounding. The Fund’s investment manager, Delaware Management Company (DMC), a series of Macquarie Investment Management Business Trust, receives “Credit Quality” ratings for the underlying securities held by the Fund from three “nationally recognized statistical rating organizations” (NRSROs): Standard & Poor’s (S&P), Moody’s Investors Service, and Fitch, Inc. The credit quality breakdown is calculated by DMC based on the NRSRO ratings. If two or more NRSROs have assigned a rating to a security the higher rating (lower value) is used. If only one NRSRO rates a security, that rating is used. For securities rated by an NRSRO other than S&P, that rating is converted to the equivalent S&P credit rating. Securities that are unrated by any of the three NRSROs are included in the “not rated” category when applicable. Unrated securities do not necessarily indicate low quality. More information about securities ratings is contained in the Fund’s Statement of Additional Information.