Delaware VIP® Value Series


Delaware VIP Value Series seeks long-term capital appreciation.


The Series invests in securities of large-capitalization companies, seeking consistent long-term performance. The Series follows a traditional value-oriented investment philosophy using a research-based approach.

Series information
Inception date05/01/2000
Dividends paid (if any)Quarterly
Capital gains paid (if any)Annually
Series identifier

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 (04/30/2017)

as of quarter-end (03/31/2017)

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)2.53%11.85%8.69%13.22%6.29%7.45%05/01/2000
Russell 1000 Value Index3.07%16.55%8.26%13.32%5.53%n/a
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)3.19%16.18%9.09%13.49%6.83%7.53%05/01/2000
Russell 1000 Value Index3.27%19.22%8.67%13.13%5.93%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 distribution fee waiver from May 1, 2017 through May 1, 2018. 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
Portfolio characteristics - as of 04/30/2017
Number of holdings33
Market cap (median)$48.94 billion
Market cap (weighted average)$89.08 billion
Portfolio turnover (last fiscal year)17%
Beta, 3 years (relative to Russell 1000 Value Index) (view definition)0.89
Annualized standard deviation, 3 years (view definition)10.03
Portfolio composition as of 04/30/2017Total may not equal 100% due to rounding.
Domestic equities99.3%
Cash and cash equivalents0.7%
Top 10 holdings as of 04/30/2017
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Holding% of portfolio
Quest Diagnostics Inc.3.4%
Marsh & McLennan Cos Inc.3.2%
Cisco Systems Inc.3.2%
Pfizer Inc.3.1%
Equity Residential3.1%
Lowe's Cos Inc.3.1%
Northrop Grumman Corp.3.1%
CVS Health Corp.3.1%
Archer-Daniels-Midland Co.3.1%
Raytheon Co.3.1%
Total % Portfolio in Top 10 holdings31.5%

Top sectors as of 04/30/2017

List excludes cash and cash equivalents.

Sector% of portfolio
Consumer staples12.3%
Information technology12.3%
Telecommunication services5.7%
Real Estate3.1%
Consumer discretionary3.1%
Ty Nutt

Ty Nutt  

Senior Vice President, Senior Portfolio Manager, Team Leader — Large-Cap Value Equity

Start date on the Fund: March 2004

Years of industry experience: 34

(View bio)

Kristen Bartholdson

Kristen E. Bartholdson 

Vice President, Senior Portfolio Manager

Start date on the Fund: December 2008

Years of industry experience: 16

(View bio)

Nik Lalvani

Nikhil G. Lalvani, CFA

Vice President, Senior Portfolio Manager

Start date on the Fund: October 2006

Years of industry experience: 20

(View bio)

Bob Vogel

Robert A. Vogel Jr., CFA

Vice President, Senior Portfolio Manager

Start date on the Fund: March 2004

Years of industry experience: 25

(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 fees0.63%
Distribution and service (12b-1) fees0.30%
Other expenses0.07%
Total annual series operating expenses1.00%
Fee waivers and expense reimbursements(0.05%)
Total annual series operating expenses after fee waivers and expense reimbursements0.95%

1The Series' distributor, Delaware Distributors, L.P. (Distributor), has contracted to limit the 12b-1 fees to no more than 0.25% of average daily net assets from April 29, 2016 through May 1, 2017. This waiver may be terminated only by agreement of the Distributor and the Series.

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

Russell Investment Group is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.

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 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.

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 only available through the purchase of certain variable insurance products.

The Series is distributed by Delaware Distributors L.P., an affiliate of Macquarie Investment Management Business Trust (MIMBT), Macquarie Management Holdings, Inc., and Macquarie Group Limited. Macquarie Investment Management (MIM), a member of Macquarie Group, refers to the companies comprising the asset management division of Macquarie Group Limited and its subsidiaries and affiliates worldwide.

Fund Finder

Daily pricing (as of 05/26/2017)

Service ClassPriceNet change
Max offer price$28.25n/a

Total net assets (as of 04/30/2017)

$810.0 million all share classes

Benchmark, peer group

Russell 1000® Value Index (view definition)

Lipper Large-Cap Value Funds Average (view definition)

Additional information