Delaware Climate Solutions Fund(Formerly, Delaware Ivy Energy Fund)

Effective on July 29, 2022, the Fund's name changed to Delaware Climate Solutions Fund (formerly, Delaware Ivy Energy Fund), and portfolio managers Barry Gladstein and Barry Klein were appointed to manage the Fund. The Fund's investment objective, investment strategies and benchmark also changed. In connection with these changes, the Fund now seeks to invest its assets in securities of companies that have been identified as being capable of reducing, displacing and/or sequestering greenhouse gas emissions or helping others to do so. These changes may result in higher portfolio turnover in the near term as the portfolio management team purchases and sells securities to reflect the Fund's repositioning. A higher portfolio turnover is likely to cause the Fund to realize capital gains and incur transaction costs. You should consult your financial advisor about the changes that will result from the repositioning. Please see the supplement dated May 20, 2022 to the Fund's prospectus or the Fund's most recent prospectus for more information.

Investing involves risk, including the possible loss of principal.

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 it's summary prospectus, which may be obtained by visiting delawarefunds.com/literature or calling 877 693-3546. Investors should read the prospectus and the summary prospectus carefully before investing.

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 it's summary prospectus, which may be obtained by visiting delawarefunds.com/literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.

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

Using ESG criteria in the investment process may exclude certain companies for non-investment reasons and, therefore, the Fund may forgo some market opportunities available to funds that do not use ESG factors. In addition, because company greenhouse gas (GHG) emissions data are not standardized (and are further subject to estimation error when not company-reported), the data sets the Fund must rely on may imperfectly represent companies’ true GHG emissions. Also, the company emissions targets that the Manager sets are based on model assumptions and estimations that carry the inherent risk associated with any modeling or estimating process.

Investing in energy securities may include price fluctuation caused by real and perceived inflationary trends and political developments, the cost assumed in complying with environmental safety regulations, changing demand for different types of energy, changes in methods for conserving energy, the uncertain success rates for exploration projects, tax and other governmental regulations, and other risks associated with generating or distributing energy.

The Fund has the flexibility to invest as much as 50% of its assets in as few as two issuers with no single issuer accounting for more than 25% of the portfolio. The remaining 50% of its assets must be diversified so that no more than 5% of its assets are invested in the securities of a single issuer. Because a non-diversified portfolio may invest its assets in fewer issuers, the value of its shares may increase or decrease more rapidly than if it were fully diversified.

Risk is increased in a concentrated portfolio since it holds a limited number of securities with each investment having a greater effect on the overall performance.

The Fund’s focus on securities of issuers that seek to reduce, displace and/or sequester GHG emissions or help other to do so may affect the Fund’s exposure to certain sectors or types of investments. The Fund’s relative investment performance may also be impacted depending on whether such sectors or investments are in or out of favor with the market. Certain investments may be dependent on U.S. and foreign government policies, including tax incentives and subsidies, as well as on political support for certain environmental initiatives and developments affecting companies focused on sustainable energy and climate change solutions generally.

The Fund may invest in Initial Public Offerings (IPOs), which can have a significant positive impact on the Fund’s performance that may not be replicated in the future.

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.

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.

You can check the background of your investment professional on FINRA's BrokerCheck.