Delaware Total Return Fund** (formerly, First Investors Total Return Fund)

Key features

  • Seeks total return with a flexible exposure to securities that offer the potential for capital growth, current income, or both
  • Provides diversification among different asset classes, consistent with a moderate investment risk tolerance
  • Strategic and tactical allocations made by an investment team with more than 30 years’ collective experience managing multi-asset portfolios
Fund information
Inception date04/01/2013
Dividends paid (if any)Monthly
Capital gains paid (if any)November or December
Fund identifiers
NASDAQFITUX
CUSIP24611D631

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

Please click below to view Fund performance:

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)15.14%9.95%7.10%4.78%n/a6.31%04/01/2013
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)1.83%4.93%6.43%5.05%n/a6.38%04/01/2013
S&P 500 Index1.70%4.25%13.39%10.84%n/a12.65%
60% S&P500 Index/ 40% Bloomberg Barclays US Aggregate Index1.96%7.10%9.32%8.00%n/a8.85%
Bloomberg Barclays US Aggregate Index2.27%10.30%2.92%3.38%n/a2.92%
ICE BofAML US Corporate, Gov't & Mortgage Index2.41%10.63%3.00%3.47%n/a2.99%

Returns for less than one year are not annualized.

Benchmark lifetime returns are as of the month end prior to the Fund's inception date.

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
Gross0.87%
Net0.87%
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
2019n/an/a1.83%n/an/a
20172.89%2.05%n/an/an/a
20160.85%1.40%3.21%n/an/a
20152.25%-0.74%-5.73%2.85%-1.59%
20140.59%3.66%-0.54%2.17%5.95%
2013n/an/a4.46%6.40%n/a

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

Please click here to view monthly holdings.

Portfolio characteristics - as of 10/31/2019S&P 500 Index
Number of holdings530501
Market cap (median) $23.0 billion22942084000.000000000
Market cap (weighted average) $1057.27 trillion262136152509.430000000
Portfolio turnover (last fiscal year)53%n/a
Beta (relative to S&P 500 Index) (view definition)0.57n/a
Annualized standard deviation, 3 years (view definition)5.64n/a
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
VANECK VECTORS HIGH YIELD MUNICI2.26%
BlackRock Liquidity FedFund2.11%
Fidelity Government Portfolio2.11%
Goldman Sachs Government Fund2.11%
Morgan Stanley Institutional Liquidity F2.11%
State Street Institutional US Government2.11%
INTEL CORP1.35%
CVS Health Corp.1.34%
AT&T Inc.1.32%
Waste Management Inc.1.31%
Total % Portfolio in Top 10 holdings18.13%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
20190.0000.027
20180.0000.000
20170.0000.000
20160.0000.000
20150.0000.000
20140.0000.000
20130.0000.000
20120.0000.000
20110.0000.000
20100.0000.000
20090.0000.000

1If a Fund makes a distribution from any source other than net income, it is required to provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The amounts and sources of distributions reported above and in each Notice are only estimates and are not provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the calendar year that will provide definitive information on how to report the Fund's distributions for federal income tax purposes. The information in the table above will not be updated to reflect any subsequent recharacterization of dividends and distributions. Click here to see recent Notices pertaining to the Fund (if any).

2Information on return of capital distributions (if any) is only provided from June 1, 2014 onward.

3Includes both short- and long-term capital gains.

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

Bob Zenouzi

Bob Zenouzi 

Senior Vice President, Chief Investment Officer — Real Estate Securities and Income Solutions (RESIS)

Start date on the Fund: October 2019

Years of industry experience: 33

(View bio)


Damon Andres

Damon J. Andres, CFA

Vice President, Senior Portfolio Manager

Start date on the Fund: October 2019

Years of industry experience: 28

(View bio)


The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering pricenone
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lowernone
Annual fund operating expenses
Management fees0.65%
Distribution and service (12b-1) feesnone
Other expenses0.22%
Total annual fund operating expenses0.87%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements0.87%

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

1 The Fund’s 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 acquired fund fees and expenses, taxes, interest, short sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 0.91% of the Fund’s average daily net assets from Oct. 4, 2019 through Oct. 31, 2021. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

*The Fund's secondary benchmark, the ICE BofAML US Corporate, Government & Mortgage Index was removed as of Oct. 4, 2019.

**April 6, 2019, Foresters Investment Management Company, Inc. (FIMCO), the investment adviser to the First Investors Funds, entered into an agreement with Macquarie Management Holdings, Inc. (MMHI), a leading global investment management company, whereby MMHI, on behalf of its affiliate Delaware Management Company (DMC), a series of Macquarie Investment Management Business Trust (Macquarie), would acquire FIMCO's asset management business (the “Transaction”). In connection with the Transaction, the Board of Trustees of the First Investors Trusts approved, pursuant to an Agreement and Plan of Reorganization (the “Agreement”), the transfer of all assets and liabilities of each First Investors Fund to a corresponding, newly formed fund (each, an “Acquiring Fund,” and collectively, the “Acquiring Funds”) in the Delaware Funds by Macquarie family of funds (each, a “Reorganization” and together, the “Reorganizations”). Following the requisite approval of each Reorganization from shareholders of each First Investors Fund, each Acquiring Fund will be managed by DMC and each Acquiring Fund will have the same or substantially the same investment objective and the same or similar principal investment strategies and principal risks as the corresponding First Investors Fund. The Transaction closed on Oct. 4, 2019 (the “Closing Date”). Information, including without limitation historical holdings and performance information, relating to the Acquiring Funds for periods prior to the Closing Date has been provided by FIMCO and is attributable to the Acquired Funds.

Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund’s prospectus and its summary prospectus, which may be obtained by clicking the prospectus link located in the right-hand sidebar. For investors investing in Delaware Funds by Macquarie (formerly First Investors Funds) please call 800 423-4026. Investors should read the prospectus and the summary prospectus carefully before investing.

The Fund's investment manager, Delaware Management Company (Manager), may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Europe Limited, Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Global Limited (MIMGL), and Macquarie Funds Management Hong Kong Limited (MFMHKL) (together, 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. The Manager may permit its affiliates, MIMGL and MFMHKL, to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

Investing involves risk, including the possible loss of principal.

Fixed income securities and bond funds can lose value, and investors can lose principal, as interest rates rise. They also may be affected by economic conditions that hinder an issuer’s ability to make interest and principal payments on its debt.

The Fund may also be subject to prepayment risk, the risk that the principal of a bond that is held by a portfolio will be prepaid prior to maturity, at the time when interest rates are lower than what the bond was paying. A portfolio may then have to reinvest that money at a lower interest rate.

High yielding, non-investment-grade bonds (junk bonds) involve higher risk than investment grade bonds.

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.

REIT investments are subject to many of the risks associated with direct real estate ownership, including changes in economic conditions, credit risk, and interest rate fluctuations.

An exchange-traded fund (ETF) is a security that represents all the stocks on a given exchange. ETF shares can be bought, sold, short-sold, traded on margin, and generally function as if they were stocks.

Liquidity risk is the possibility that securities cannot be readily sold within seven days at approximately the price at which a fund has valued them.

“Non-diversified” funds may allocate more of their net assets to investments in single securities than “diversified” funds. Resulting adverse effects may subject these funds to greater risks and volatility.

The Fund may invest in derivatives, which may involve additional expenses and are subject to risk, including the risk that an underlying security or securities index moves in the opposite direction from what the portfolio manager anticipated. A derivatives transaction depends upon the counterparties’ ability to fulfill their contractual obligations.

Risk controls and asset allocation models do not promise any level of performance or guarantee against loss of principal. Each Fund has a different level of risk.

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

Not FDIC Insured | No Bank Guarantee | May Lose Value

Fund Finder

Daily pricing (as of 11/18/2019)

Institutional ClassPriceNet change
NAV$19.31no chg
Max offer price$19.31n/a

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

$780.2 million all share classes

Morningstar ranking (as of 10/31/2019)

YTD ranking303 / 703
1 year441 / 703
3 years473 / 646
5 years421 / 572
10 yearsn/a
Morningstar categoryMorningstar Allocation -- 50% to 70% Equity Category

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking (as of 10/31/2019)

YTD ranking150 / 599
1 year326 / 598
3 years380 / 535
5 years328 / 485
10 yearsn/a
Lipper classificationLipper Mixed-Asset Target Allocation Moderate Funds Average

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Literature

Prospectuses and reports

Benchmark and peer group

S&P 500® Index (view definition)

60% S&P 500® Index / 40% Bloomberg Barclays US Aggregate Index (view definition)

Bloomberg Barclays US Aggregate Index (view definition)

ICE BofAML US Corporate, Government & Mortgage Index (view definition)

Morningstar Allocation — 50% to 70% Equity Category (view definition)

Lipper Mixed-Asset Target Allocation Moderate Funds Average (view definition)

Additional information