Delaware Enhanced Global Dividend and Income Fund

Objective

The Fund's primary investment objective is to seek current income, with a secondary objective of capital appreciation.

Strategy

The Fund invests globally in dividend-paying or income-generating securities across multiple asset classes, including but not limited to: equity securities of large, well-established companies, securities issued by real estate companies (including real estate investment trusts and real estate industry operating companies), debt securities (such as government bonds, investment grade and high risk, high yield corporate bonds, and convertible bonds), and emerging market securities. The Fund also utilizes enhanced income strategies by engaging in dividend capture trading, option overwriting, and realization of gains on the sale of securities, dividend growth, and currency forwards.

Total net assets as of 08/31/2020

All share classes
$119.5 million

Historic pricing

NAV dateNAVMarket pricePremium/Discount
09/18/2020$9.95$9.04-9.15%
09/17/2020$9.99$9.02-9.71%
09/16/2020$10.05$9.12-9.25%
09/15/2020$10.01$9.05-9.59%
09/14/2020$9.98$9.04-9.42%

Portfolio

Fund information as of 08/31/2020
Ticker symbol (NAV)XDEWX
Ticker symbolDEX
Trading ExchangeNYSE
SEC yield3.11%
Expense ratio1.43%
Turnover ratio135%
Inception date06/29/2007

For Fund distributions declared please see the fact sheet and/or dividend press releases.

List of monthly holdingsList of quarterly holdings

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

Management

Wayne Anglace

Wayne A. Anglace, CFA

  • Managing Director, Senior Portfolio Manager
  • Start date on the Fund: March 2010
  • Years of industry experience: 22
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Asa Annerstedt

Åsa Annerstedt 

  • Portfolio Manager — Global Equity Team
  • Start date on the Fund: March 2019
  • Years of industry experience: 22
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Adam Brown

Adam H. Brown, CFA

  • Managing Director, Senior Portfolio Manager
  • Start date on the Fund: July 2016
  • Years of industry experience: 22
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Liu-Er Chen

Liu-Er Chen, CFA

  • Managing Director, Chief Investment Officer — Emerging Markets and Healthcare
  • Start date on the Fund: June 2007
  • Years of industry experience: 24
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Craig Dembek

Craig C. Dembek, CFA

  • Senior Managing Director, Head of Credit Research
  • Start date on the Fund: December 2012
  • Years of industry experience: 26
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Roger Early

Roger A. Early, CPA, CFA

  • Senior Managing Director, Chief Investment Officer – US Fixed Income
  • Start date on the Fund: January 2008
  • Years of industry experience: 44
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Chris Gowlland

Chris Gowlland, CFA

  • Senior Vice President, Head of Equity Quantitative Research
  • Start date on the Fund: July 2019
  • Years of industry experience: 23
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Jens Hansen

Jens Hansen 

  • Chief Investment Officer — Global Equity Team
  • Start date on the Fund: March 2019
  • Years of industry experience: 36
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Allan Saustrup Jensen

Allan Saustrup Jensen, CFA, CAIA®

  • Portfolio Manager — Global Equity Team
  • Start date on the Fund: May 2020
  • Years of industry experience: 23
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Claus Juul

Claus Juul 

  • Portfolio Manager — Global Equity Team
  • Start date on the Fund: March 2019
  • Years of industry experience: 20
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Nikhil Lalvani

Nikhil G. Lalvani, CFA

  • Vice President, Senior Portfolio Manager, Team Leader – US Large-Cap Value Equity team
  • Start date on the Fund: January 2019
  • Years of industry experience: 23
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Paul Matlack

Paul A. Matlack, CFA

  • Managing Director, Senior Client Portfolio Manager
  • Start date on the Fund: December 2012
  • Years of industry experience: 35
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John McCarthy

John P. McCarthy, CFA

  • Managing Director, Senior Portfolio Manager
  • Start date on the Fund: December 2012
  • Years of industry experience: 33
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Klaus Petersen

Klaus Petersen, CFA

  • Portfolio Manager — Global Equity Team
  • Start date on the Fund: March 2019
  • Years of industry experience: 21
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Supplemental data

Ratios and supplemental data
Year ended

  11/30/19 11/30/18 11/30/17 11/30/16 11/30/15
Net assets, end of period (000 omitted) $132,453 $137,831 $207,106 $181,220 $182,254
Ratio of expenses to average net assets1,2,3,4 3.52% 3.02% 2.38% 2.30% 2.10%
Ratio of net investment income to average net assets5 3.53% 4.06%  3.50% 3.79% 4.52%
Portfolio turnover 135% 34% 40% 54% 48%

1Expense ratios do not include expenses of the Underlying Funds in which the Fund invests.

2The ratio of interest expense to average net assets for the years ended Nov. 30, 2019, 2018, 2017, 2016, and 2015 were 1.43%, 1.31%, 1.12%, 1.19%, and 1.14%, respectively.

3The ratio of interest expense to adjusted average net assets (excluding debt outstanding) for the years ended Nov. 30, 2019, 2018, 2017, 2016, and 2015 were 1.00%, 0.81%, 0.56%, 0.41%, and 0.33%, respectively.

4The ratio of expenses before interest expense to adjusted average net assets (excluding debt outstanding) for the years ended  Nov. 30, 2019, 2018, 2017, 2016, and 2015 were 1.45%, 1.15%, 0.80%, 0.59%, and 0.47%, respectively.

5The ratio of net investment income to adjusted average net assets (excluding debt outstanding) for the years ended  Nov. 30, 2019, 2018, 2017, 2016, and 2015 were 2.43%, 2.85%, 2.47%, 2.63%, and 3.15%, respectively.

Resources

Investing in closed-end investment companies involves risk, including the possible loss of principal.

The Fund's investment manager, Delaware Management Company (DMC or Manager), may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Europe Limited, Macquarie Investment Management Austria Kapitalanlage AG, and Macquarie Investment Management Global Limited (MIMGL) (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 DMC believes it will be beneficial to utilize an Affiliated Sub-Advisor’s specialized market knowledge. The Manager may also permit its affiliates, MIMGL and Macquarie Funds Management Hong Kong Limited, to execute Fund equity security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

Diversification may not protect against market risk.

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.

Narrowly focused investments may exhibit higher volatility than investments in multiple industry sectors.

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.

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.

Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis, and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics, have been and can be highly disruptive to economies and markets, adversely impacting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Fund’s investments. Given the increasing interdependence among global economies and markets, conditions in one country, market, or region are increasingly likely to adversely affect markets, issuers, and/or foreign exchange rates in other countries. These disruptions 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. Any such event(s) could have a significant adverse impact on the value and risk profile of the Fund.

The Fund may experience portfolio turnover that approaches or exceeds 100%, which could result in higher transaction costs and tax liability.

International investments entail risks including fluctuation in currency values, differences in accounting principles, or economic or political instability. Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility, lower trading volume, and higher risk of market closures. In many emerging markets, there is substantially less publicly available information and the available information may be incomplete or misleading. Legal claims are generally more difficult to pursue.

If and when the Fund invests in forward foreign currency contracts or uses other investments to hedge against currency risks, the Fund will be subject to special risks, including counterparty risk.

NAV, market price, and premium or discount will fluctuate with changes in market conditions. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment.

Market Price is the price an investor would pay for shares of a fund on the secondary market. Market price shown is the market closing price as of the previous business day.

Net asset value (NAV) is the total assets less total liabilities divided by the number of shares outstanding.

Premium/Discount is the amount by which the market price trades above or below the NAV.

If and when the Fund utilizes leverage, the Fund may not be permitted to declare dividends or other distributions with respect to its common shares or purchase its capital stock, unless the Fund meets certain asset coverage requirements.

To the extent the Fund engages in option overwriting, it may receive less total return in certain periods and in other periods greater total return from its option overwriting strategy.

The use of dividend capture strategies will expose the Fund to increased trading costs and potential for capital loss or gain, particularly in the event of significant short-term price movements of stocks subject to dividend capture trading, and resultant dividends may not be qualified dividends eligible to individuals for reduced federal income tax rates.

Closed-end fund shares do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation or any other government agency.

Closed-end funds, unlike open-end funds, are not continuously offered. After being issued during a one-time-only public offering, shares of closed-end funds are sold in the open market through a securities exchange. Net asset value (NAV) is calculated by subtracting total liabilities by total assets, then dividing by the number of shares outstanding. At the time of sale, your shares may have a market price that is above or below NAV, and may be worth more or less than your original investment.

The Fund may make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a Fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

LIBOR risk is the risk that potential changes related to the use of the London Interbank Offered Rate (LIBOR) could have adverse impacts on financial instruments which reference LIBOR. The potential abandonment of LIBOR could affect the value and liquidity of instruments which reference LIBOR.

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

Not FDIC Insured • No Bank Guarantee • May Lose Value

Nothing presented should be construed as a recommendation to purchase or sell any security or follow any investment technique or strategy.

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