Delaware Ivy Asset Strategy Fund

Delaware Ivy Asset Strategy Fund

Key features

Seeks Equity like returns with less volatility over a full market cycle

Targets expected total risk equaling 70%-90% of the risk represented in the Fund’s benchmark

Blends less-correlated securities from differing asset classes, primarily consisting of global equities, fixed income, precious metals, commodities, ETFs, and cash

Seeks equity like returns with less volatility over a full market cycle

Targets expected total risk equaling 70%-90% of the risk represented in the Fund’s benchmark

Blends less-correlated securities from differing asset classes, primarily consisting of global equities, fixed income, precious metals, commodities, ETFs, and cash

Daily pricing as of 04/18/2024

NAV
$21.46
NAV 1-day net change
-0.03
Max offer price
$21.46

Total net assets as of 03/31/2024

All share classes
$1.8 billion

Overview

Fund information
Inception date 04/02/2007
Dividends paid (if any) Quarterly
Capital gains paid (if any) December
Fund identifiers
NASDAQ IVAEX
CUSIP 466001864

Benchmark and peer group

MSCI ACWI (All Country World Index) Index (view definition)

Morningstar World Allocation Category (view definition)

Lipper Alternative Global Macro Funds Average (view definition)

Performance

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 (03/31/2024)

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.

Average annual total return as of quarter-end (03/31/2024)

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.

Overall Morningstar RatingTM

Institutional Class shares - as of 03/31/2024

MorningstarMorningstarMorningstarMorningstar
Rating No. of funds
Overall 4 356
3 years 5 356
5 years 5 338
10 years 3 244
Morningstar category Global Allocation

(View Morningstar disclosure)

The Morningstar rating is based on risk-adjusted returns.

Morningstar ranking - as of 03/31/2024
1 year 9 / 370
3 years 25 / 356
5 years 5 / 338
10 years 78 / 244
Morningstar category Global Allocation

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking - as of 03/31/2024
1 year 7 / 164
3 years 7 / 144
5 years 5 / 140
10 years 14 / 119
Lipper classification Lipper Alternative Global Macro Funds

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Expense ratio

Gross
0.91%
Net
0.91%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from July 31, 2023 through July 30, 2024. Please see the fee table in the Fund's prospectus for more information.

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2023
15.84%
2022
-13.20%
2021
14.03%
2020
13.75%
2019
22.08%
2018
-5.27%
2017
18.76%
2016
-5.19%
2015
-8.21%
2014
-4.79%

Portfolio

Portfolio characteristics as of 03/31/2024

Number of holdings
377
Market cap (median) Source: FactSet
$92.2 billion
Market cap (weighted average) Source: FactSet
$588.9 billion
Portfolio turnover (last fiscal year)
74%
Beta (relative to MSCI ACWI Index (Net)) (view definition)
0.77
SEC 30-day yield with waiver (view definition)
2.32%
SEC 30-day yield without waiver (view definition)
2.32%
Annualized standard deviation, 3 years (view definition)
13.22

Portfolio composition as of 03/31/2024
Total may not equal 100% due to rounding.

Global equity
67.6%
Investment grade fixed income
14.9%
High yield fixed income
10.3%
Other assets
7.3%

Top 10 equity holdings as of 03/31/2024

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

List may exclude cash and cash equivalents.

Holding
% of portfolio
Holding
% of portfolio
MICROSOFT CORP
3.85
ALPHABET INC CLASS A
2.49
NVIDIA CORP
2.29
AMAZON COM INC
2.26
TAIWAN SEMICONDUCTOR MANUFACTURING
1.94
SALESFORCE INC
1.68
APPLE INC
1.66
MASTERCARD INC CLASS A
1.61
VANGUARD RUSSELL INDEX FUND;ETF
1.59
ELI LILLY
1.54

Total % Portfolio in Top 10 holdings - 20.91%

List of monthly holdingsList of quarterly holdings

Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)

Year
Capital gains3
Net investment income
Year
Capital gains3
Net investment income
2024
0.000
0.160
2023
0.000
0.589
2022
2.971
0.269
2021
2.252
0.608
2020
0.252
0.440
2019
0.806
0.502
2018
3.460
0.411
2017
0.452
0.347
2016
0.000
0.000
2015
1.369
0.110
2014
4.849
0.194

1If a Fund makes a distribution from any source other than net income, it is required to provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The amounts and sources of distributions reported above and in each Notice are only estimates and are not provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the calendar year that will provide definitive information on how to report the Fund's distributions for federal income tax purposes. The information in the table above will not be updated to reflect any subsequent recharacterization of dividends and distributions. Click here to see recent Notices pertaining to the Fund (if any).

2Information on return of capital distributions (if any) is only provided from June 1, 2014 onward.

3Includes both short- and long-term capital gains.

Management

Aaron Young

Aaron D. Young 

  • Senior Vice President, Portfolio Manager – Global Multi-Asset
  • Start date on the Fund: November 2021
  • Years of industry experience: 19
  • Read bio
Stefan Lowenthal

Stefan Löwenthal, CFA

  • Managing Director, Head of Global Multi-Asset
  • Start date on the Fund: November 2021
  • Years of industry experience: 16
  • Read bio
Jurgen Wurzer

Jürgen Wurzer 

  • Managing Director, Deputy Head of Global Multi-Asset
  • Start date on the Fund: November 2021
  • Years of industry experience: 17
  • Read bio

Fees

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering price none
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 0.68%
Distribution and service (12b-1) fees none
Other expenses 0.23%
Total annual fund operating expenses 0.91%
Fee waivers and expense reimbursements1 none
Total annual fund operating expenses after fee waivers and expense reimbursements 0.91%

Please see the prospectus and SAI for additional information.

1Net expense ratio reflects a contractual waiver of certain fees/and/or expense reimbursements from July 31, 2023 through July 30, 2024. Please see the fee table in the Fund's prospectus for more information.

2Other expenses contain a 0.01% acquired fund fees and expenses. Acquired Fund Fees and Expenses sets forth the Fund's pro rata portion of the cumulative expenses charged by the registered investment companies (RICs) in which the Fund invested during the last fiscal year. The actual Acquired Fund Fees and Expenses will vary with changes in the allocations of the Fund's assets. The Acquired Fund Fees and Expenses shown are based on the total expense ratio of the RICs for the RICs' most recent fiscal period. These expenses are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's NAV.

Resources

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 its 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 its 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.

The Fund’s investment manager, Delaware Management Company (Manager), may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Europe Limited (MIMEL), Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), 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.

Investing involves risk, including the possible loss of principal.

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.

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.

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. High yielding, non-investment-grade bonds (junk bonds) involve higher risk than investment grade bonds. The high yield secondary market is particularly susceptible to liquidity problems when institutional investors, such as mutual funds and certain other financial institutions, temporarily stop buying bonds for regulatory, financial, or other reasons. In addition, a less liquid secondary market makes it more difficult for to obtain precise valuations of the high yield securities.

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.

Exposure to the commodities markets may subject the investments to greater volatility than investments in traditional securities.

IBOR risk is the risk that changes related to the use of the London interbank offered rate (LIBOR) or similar rates (such as EONIA) could have adverse impacts on financial instruments that reference these rates. The abandonment of these rates and transition to alternative rates could affect the value and liquidity of instruments that reference them and could affect investment strategy performance.

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 Portfolio’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 Portfolio from executing advantageous investment decisions in a timely manner and could negatively impact the Portfolio’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 Portfolio.

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.

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