Key features
- The objective of Optimum Small-Mid Cap Value Fund is to seek long-term growth of capital.
- LSV Asset Management uses a quantitative investment model to make investment decisions by ranking securities
based on fundamental measures of value and indicators of near-term appreciation potential.
- Wellington Management Company LLP (Wellington) uses a bottom-up fundamental approach, coupled with forensic
accounting data analysis, to identify securities that appear to be misunderstood or undervalued in the market.
Wellington focuses on companies with strong free cash flows, attractive valuations, and management teams that have
a history of returning capital to shareholders.
| Fund identifiers |
|---|
| NASDAQ | OASVX |
| CUSIP | 246118772 |
| 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) | 0.91%
| 0.43%
| 11.05%
| 11.31%
| 6.33%
| 6.73%
| 08/01/2003 |
| Max offer price | -4.87%
| -5.38%
| 8.89%
| 9.99%
| 5.70%
| 6.45%
| |
| Russell 2500 Value Index | 9.29% | 9.00% | 15.39% | 14.96% | 9.68% | n/a | |
| | 1 year | 3 year | 5 year | 10 year | Lifetime | Inception date |
|---|
|
NAV (view definition) | 4.65%
| 0.43%
| 11.05%
| 11.31%
| 6.33%
| 6.73%
| 08/01/2003 |
| Max offer price | -1.34%
| -5.38%
| 8.89%
| 9.99%
| 5.70%
| 6.45%
| |
| Russell 2500 Value Index | 8.17% | 9.00% | 15.39% | 14.96% | 9.68% | 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 | 1.58% |
| Net | 1.49% |
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 | 9.85% |
| 2023 | 10.31% |
| 2022 | -14.27% |
| 2021 | 28.75% |
| 2020 | 1.15% |
| 2019 | 24.31% |
| 2018 | -16.65% |
| 2017 | 9.49% |
| 2016 | 18.21% |
| 2015 | -11.06% |
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
Investment manager
Delaware Management Company
Sub-advisors
LSV Asset Management
Josef Lakonishok, Ph.D. - Founding Partner, Portfolio Manager, CEO, CIO
Start date on the Fund: January 2016
Josef Lakonishok shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets. Dr.
Lakonishok has served as CEO, CIO, partner and portfolio manager for LSV since its founding in 1994.
Menno Vermeulen, CFA - Partner, Portfolio Manager
Start date on the Fund: January 2016
Menno Vermeulen shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets.
Vermeulen has served as a portfolio manager for LSV since 1995 and a partner since 1998. Prior to joining LSV, he
worked at ABP where he was responsible for the development and implementation of quantitative active investment
strategies.
Puneet Mansharamani, CFA - Partner, Portfolio Manager
Start date on the Fund: January 2016
Puneet Mansharamani shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets.
He has served as a partner and portfolio manager for LSV since 2006. Prior to joining LSV, Mansharamani was an
analyst at Institutional Trust National City Corporation. Prior to this experience, he was a systems consultant for
Maximations, Inc.
Greg Sleight - Partner, Portfolio Manager
Start date on the Fund: January 2016
Greg Sleight shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets. He has
served as a quantitative analyst of LSV since 2006, a partner since 2012 and portfolio manager since 2014 and is part
of LSV's quantitative and implementation team, which is responsible for the day-to-day data management, portfolio
implementation and ongoing enhancement of LSV's models and systems.
Guy Lakonishok, CFA - Partner, Portfolio Manager
Start date on the Fund: January 2016
Guy Lakonishok shares primary responsibility for the day-to-day management of LSV’s share of the Fund’s assets.
Lakonishok has served as a quantitative analyst of LSV since 2009, a partner since 2013 and a portfolio manager since
2014. Prior to joining LSV, he was a vice president in the quantitative equity group at BlackRock.
Wellington Management Company LLP (Wellington)
Gregory J Garabedian - Partner, Equity Portfolio Manager
Start date on the Fund: June 2024
Mr. Garabedian is a Partner of Wellington and is an equity portfolio manager on the Opportunistic Value team. Prior
to joining Wellington in 2006, Greg worked as an equity research analyst at Gabelli and Company. Before that, he
worked as a forensic accountant at PricewaterhouseCoopers.
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 | 0.89% |
| Distribution and service (12b-1) fees | 0.25% |
| Other expenses | 0.44% |
| Total annual fund operating expenses | 1.58% |
| Fee waivers and expense reimbursements | (0.09%) |
| Total annual fund operating expenses after fee waivers and expense reimbursements | 1.49% |
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 | LSV Asset Management | Wellington Management Company | Total |
|---|
| 09/30/2024 | 55.95% | 44.05% | 100% |
| 10/31/2024 | 55.41% | 44.59% | 100% |
| 11/30/2024 | 55.42% | 44.58% | 100% |
| 12/31/2024 | 55.43% | 44.57% | 100% |
| 01/31/2025 | 55.15% | 44.85% | 100% |
| 02/28/2025 | 55.64% | 44.36% | 100% |
| 03/31/2025 | 55.86% | 44.14% | 100% |
| 04/30/2025 | 56.60% | 43.40% | 100% |
| 05/31/2025 | 51.01% | 48.99% | 100% |
| 06/30/2025 | 51.00% | 49.00% | 100% |
| 07/31/2025 | 50.96% | 49.04% | 100% |
| 08/31/2025 | 51.77% | 48.23% | 100% |
Total may not equal 100% due to rounding.
On Nov. 4, 2014, Class B shares of the Fund converted to Class A shares.
Effective June 12, 2024, Wellington Management Company LLP (Wellington) replaced Cardinal Capital Management as one of the Fund’s sub-advisors. Wellington will manage the Fund along with LSV Asset Management, the Fund’s other sub-advisor. Each sub-advisor is responsible for the day-to-day investment management of the portion of the Fund’s assets that Delaware Management Company (Manager) allocates to such sub-advisor. The Manager may change the allocation at any time. The relative values of each sub-advisor’s share of the Fund’s assets also may change over time. Each sub-advisor selects investments for its portion of the Fund
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.
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