Key features
- The objective of Optimum Small-Mid Cap Growth Fund is to seek long-term growth of capital.
- Principal Dynamic Growth seeks to invest in securities of small- to mid-sized companies using its “Fundamental
Momentum and Positive Surprise” investment philosophy. This investment philosophy is based on the premise that
companies producing better than expected results will have rising securities prices, while companies producing
less than expected results will not.
- Peregrine Capital Management, LLC focuses its research on companies experiencing high growth and significant
fundamental change.
| Fund identifiers |
|---|
| NASDAQ | OASGX |
| CUSIP | 246118822 |
| Investment minimums |
|---|
| Initial investment | $1,000 |
| Subsequent investments | $100 |
| Account features |
|---|
| Payroll deduction | No |
| IRAs | Yes |
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
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 (09/30/2025)
as of quarter-end (09/30/2025)
| YTD | 1 year | 3 year | 5 year | 10 year | Lifetime | Inception date |
|---|
|
NAV (view definition) | 5.45%
| 6.44%
| 11.25%
| 7.37%
| 10.78%
| 8.78%
| 08/01/2003 |
| Max offer price | -0.64%
| 0.32%
| 9.06%
| 6.10%
| 10.13%
| 8.49%
| |
| Russell 2500 Growth Index | 9.95% | 12.62% | 15.97% | 7.76% | 10.93% | n/a | |
| | 1 year | 3 year | 5 year | 10 year | Lifetime | Inception date |
|---|
|
NAV (view definition) | 7.93%
| 6.44%
| 11.25%
| 7.37%
| 10.78%
| 8.78%
| 08/01/2003 |
| Max offer price | 1.72%
| 0.32%
| 9.06%
| 6.10%
| 10.13%
| 8.49%
| |
| Russell 2500 Growth Index | 10.73% | 12.62% | 15.97% | 7.76% | 10.93% | n/a | |
Returns for less than one year are not annualized.
Performance at NAV assumes that no front-end sales charge applied. Performance at max offer price assumes that a front-end sales charge applied.
Class A shares have a maximum up-front sales charge of 5.75% and are subject to an annual distribution fee.
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 |
|---|
| Gross | 1.54% |
| Net | 1.44% |
Net expense ratio reflects a contractual
waiver from certain fees and/or expense reimbursements from July 31, 2025 through July 30, 2026. Please see the fee
table in the Fund's prospectus for more information.
| Calendar year total returns @ NAV |
|---|
| Year | Annual return |
|---|
|
| 2024 | 13.86% |
| 2023 | 13.66% |
| 2022 | -28.22% |
| 2021 | 12.27% |
| 2020 | 56.90% |
| 2019 | 25.31% |
| 2018 | -3.54% |
| 2017 | 27.29% |
| 2016 | 2.61% |
| 2015 | -5.61% |
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
Investment manager
Delaware Management Company
Sub-advisors
Principal Global Investors, LLC
Christopher Corbett, CFA - Managing Director, Portfolio Manager
Start date on the Fund: July 2017
Christopher Corbett shares primary responsibility for the day-to-day management of Principal’s share of the Fund’s
assets. He joined the firm in 2006 and currently serves as Senior Managing Director and lead Portfolio Manager for
SMID Cap Growth, Mid Cap Growth and Small Cap Growth strategies. Mr. Corbett began holding Fund responsibilities in
July 2017.
Marc Shapiro - Senior Vice President, Portfolio Manager
Start date on the Fund: July 2020
Marc Shapiro shares primary responsibility for the day-to-day management of Principal’s share of the Fund’s assets.
Mr. Shapiro joined the firm in 2004 and serves as Managing Director, Portfolio Manager for the SMID Cap Growth, Mid
Cap Growth and Small Cap Growth strategies. Mr. Shapiro began holding Fund responsibilities in July 2020.
Peregrine Capital Management, LLC (Peregrine)
Paul E. von Kuster, CFA - Principal, Portfolio Manager
Start date on the Fund: April 2016
Mr. von Kuster shares primary responsibility for the day-to-day management of Peregrine’s share of the Fund’s assets.
He is a portfolio manager for the small-cap growth style and shares the responsibility for fundamental research,
stock selection and portfolio management with his team. He has been with the firm since its inception in 1984. Prior
to Peregrine, Mr. von Kuster managed small-cap funds for the Trust Department at Norwest Bank Minnesota, N.A. (now
Wells Fargo Bank Minnesota, N.A.). He began his career with Norwest Bank Minnesota, N.A. in 1972 after graduating
from Princeton. Mr. von Kuster is a member of the CFA Society of Minnesota and the CFA Institute.
Samuel D. Smith, CFA - Principal, Portfolio Manager
Start date on the Fund: January 2021
Mr. Samuel Smith shares primary responsibility for the day-to-day management of Peregrine’s share of the Fund’s
assets. He is a portfolio manager for the small-cap growth style and shares the responsibility for fundamental
research, stock selection and portfolio management with his team. He joined Peregrine in 2006 as a portfolio
assistant and has also served as an analyst and associate portfolio manager.
Ryan H. Smith, CFA - Principal, Portfolio Manager
Start date on the Fund: January 2021
Mr. Ryan Smith shares primary responsibility for the day-to-day management of Peregrine’s share of the Fund’s assets.
He is a portfolio manager for the small-cap growth style and shares the responsibility for fundamental research,
stock selection and portfolio management with his team. He joined Peregrine in 2018 as an associate portfolio
manager. Prior to joining Peregrine, Ryan Smith was a portfolio manager and an analyst on the small, SMID and mid-cap
growth strategies at RBC Global Asset Management (US) for more than 10 years.
Allison S. Lewis, CFA - Principal, Portfolio Manager
Start date on the Fund: July 2023
Ms. Lewis shares the responsibility for fundamental research, stock selection and portfolio management with her team.
Ms. Lewis joined Peregrine in 2022 as a Senior Analyst. Prior to joining Peregrine, Ms. Lewis was a Research Analyst
at Marsico Capital Management for two years. Previously, she served as Senior Equity Analyst at Invesco for over six
years. She started her career at J.P. Morgan Chase & Company. Ms. Lewis graduated from the University of Michigan
and earned her M.B.A. from the University of Wisconsin. She is a member of the CFA Institute. Ms. Lewis has held her
Fund responsibilities since July 2023.
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
The table below describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table below.
You may qualify for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $75,000 in Optimum Funds. More information about these and other discounts is available from your financial intermediary, in the Fund's Prospectus under the section entitled "About your account," and in the Fund's statement of additional information (SAI) under the section entitled "Purchasing Shares."
| Shareholder fees |
|---|
| Maximum sales charge (load) imposed on purchases as a percentage of offering price | 5.75% |
| Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower | none |
| Annual fund operating expenses |
|---|
| Management fees | 0.98% |
| Distribution and service (12b-1) fees | 0.25% |
| Other expenses | 0.31% |
| Total annual fund operating expenses | 1.54% |
| Fee waivers and expense reimbursements | (0.10%) |
| Total annual fund operating expenses after fee waivers and expense reimbursements | 1.44% |
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
The chart below lists the percentage of the Fund's total assets under management that each sub-advisor manages on
behalf of the Fund. The percentages include securities, cash, and any other assets managed by each sub-advisor in its
sleeve of the Fund. These percentage allocations should be updated some time after 30 days following a given month
end.
| Date | Principal Dynamic Growth | Delaware Management Company | Peregrine Capital Management, Inc. | Total |
|---|
| 09/30/2024 | 50.17% | 0.02% | 49.81% | 100% |
| 10/31/2024 | 50.73% | 0.02% | 49.26% | 100% |
| 11/30/2024 | 51.69% | 0.03% | 48.27% | 100% |
| 12/31/2024 | 51.51% | 0.00% | 48.49% | 100% |
| 01/31/2025 | 51.74% | 0.00% | 48.26% | 100% |
| 02/28/2025 | 51.06% | 0.00% | 48.94% | 100% |
| 03/31/2025 | 50.41% | 0.00% | 49.59% | 100% |
| 04/30/2025 | 50.35% | 0.00% | 49.65% | 100% |
| 05/31/2025 | 50.25% | 0.00% | 49.75% | 100% |
| 06/30/2025 | 50.82% | 0.00% | 49.18% | 100% |
| 07/31/2025 | 50.99% | 0.00% | 49.01% | 100% |
| 08/31/2025 | 51.57% | 0.00% | 48.43% | 100% |
Total may not equal 100% due to rounding.
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
Investing involves risk, including the possible loss of principal.
Investments in small and/or medium-sized companies typically exhibit greater risk and higher volatility than larger, more established companies.
The disruptions caused by natural disasters, pandemics, or similar events could prevent the Fund from executing advantageous investment decisions in a timely manner and could negatively impact the Fund’s ability to achieve its investment objective and the value of the Fund’s investments.
All third-party marks cited are the property of their respective owners.
Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.