Macquarie Global Allocation Fund(formerly, Delaware Ivy Wilshire Global Allocation Fund)

Key features

Seeks total return and offers the potential for capital growth and current income

Provides diversification among different asset classes consistent with a moderate risk level

Strategic and tactical allocations made by an experienced multi-asset allocation team

Daily pricing as of 05/07/2025

NAV
$8.44
NAV 1-day net change
0.01
Max offer price
$8.44

Total net assets as of 03/31/2025

All share classes
$440.4 million

Overview

Fund information
Inception date 09/27/1995
Dividends paid (if any) Quarterly
Capital gains paid (if any) December
Fund identifiers
NASDAQ IWGIX
CUSIP 46600G747

Benchmark and peer group

65 MSCI ACWI Index (Net) / 35 Bloomberg Global Aggregate Index Hedged USD (view definition)

MSCI ACWI Index (view definition)

Bloomberg Global Aggregate Index Hedged USD (view definition)

65 MSCI ACWI Index (Net) / 35 Bloomberg Multiverse USD Hedged (view definition)

Bloomberg Multiverse Index (USD Hedged) (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 (as applicable) 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 (04/30/2025)

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 (03/31/2025)

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 04/30/2025

MorningstarMorningstarMorningstar
Rating No. of funds
Overall 3 453
3 years 3 453
5 years 4 423
10 years 2 321
Morningstar category Global Moderate Allocation

(View Morningstar disclosure)

The Morningstar rating is based on risk-adjusted returns.

Morningstar ranking - as of 04/30/2025
1 year 268 / 460
3 years 189 / 453
5 years 129 / 423
10 years 256 / 321
Morningstar category Global Moderate Allocation

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking - as of 04/30/2025
1 year 183 / 425
3 years 130 / 395
5 years 137 / 347
10 years 183 / 243
Lipper classification Lipper Flexible Portfolio Funds Average

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Expense ratio

Gross
0.98%
Net
0.96%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from October 30, 2024 through October 29, 2025. Please see the fee table in the Fund's prospectus for more information.

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2024
9.33%
2023
12.93%
2022
-14.26%
2021
11.44%
2020
11.28%
2019
18.59%
2018
-7.29%
2017
16.26%
2016
-2.31%
2015
-7.96%

Portfolio

Portfolio characteristics as of 03/31/2025

Number of holdings
14
Portfolio turnover (last fiscal year)
46%
Beta (relative to 65 MSCI ACWI (net) / 35 Bloomberg Global Agg Hedged USD) (view definition)
1.01
Annualized standard deviation, 3 years (view definition)
12.62

Top 10 Underlying Funds as of 04/30/2025

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

List excludes cash and cash equivalents.

Holding
% of portfolio
Holding
% of portfolio
MACQUARIE CORE EQUITY FUND R6
31.70
MACQUARIE INT CORE EQTY FUND CL R6
20.49
MACQUARIE DIVERSIFIED INCOME FD R6
15.65
MACQUARIE GLOBAL BOND FUND R6
14.36
MACQUARIE GROWTH AND INCOME FD R6
6.34
MACQUARIE VALUE FUND
5.30
MCQRE SYSTEMATIC EMRG MKTS EQY R6
2.04
MCQRE EMRG MKTS DEBT INSTNL
1.96
MACQUARIE LIMITD TERM DVSFD INC R6
1.95

Total % Fund in Top 10 holdings - 99.79%

List of monthly holdingsList of quarterly holdings

Sector allocation as of 04/30/2025

List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.

Sector
Fund
Sector
Fund
Financials
99.8%

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

Year
Capital gains3
Net investment income
Year
Capital gains3
Net investment income
2025
0.000
0.032
2024
0.000
0.169
2023
0.356
0.064
2022
0.617
0.145
2021
0.365
0.300
2020
0.120
0.170
2019
0.187
0.203
2018
0.432
0.200
2017
0.478
0.202
2016
0.000
0.000
2015
0.000
0.000

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

Investment manager

Delaware Management Company, a series of Macquarie Investment Management Business Trust (a Delaware statutory trust)

Aaron Young

Aaron Young 

  • Senior Portfolio Manager – Global Multi-Asset
  • Start date on the Fund: October 2024
  • Years of industry experience: 20
  • Read bio

Sub-advisor

Macquarie Investment Management Austria Kapitalanlage AG (MIMAK) serves as sub-advisor for the Fund.

Stefan Lowenthal

Stefan Löwenthal, CFA

  • Head of Global Multi-Asset
  • Start date on the Fund: October 2024
  • Years of industry experience: 17
  • Read bio
Jurgen Wurzer

Jürgen Wurzer 

  • Deputy Head of Global Multi-Asset
  • Start date on the Fund: October 2024
  • Years of industry experience: 18
  • 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 0.06%
Distribution and service (12b-1) fees none
Other expenses1 0.92%
Total annual fund operating expenses 0.98%
Fee waivers and expense reimbursements (0.02%)
Total annual fund operating expenses after fee waivers and expense reimbursements2 0.96%

1Other expenses contain a 0.63% 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 Underlying Affiliated Funds (defined in the Prospectus) 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 each Underlying Affiliated Fund for the Fund's most recent fiscal period. These expenses are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's NAV.

2Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from October 30, 2024 through October 29, 2025. Please see the fee table in the Fund's prospectus for more information.

Institutional Class shares are available only to certain investors.

Please see the prospectus and SAI for additional information.

Resources

Significant Fund Event
On August 13-15, 2024, the Board of Trustees (Board) of the Ivy Funds approved the Fund name change to “Macquarie Global Allocation Fund” and the appointment of the Macquarie Investment Management Austria Kapitalanlage AG (MIMAK) as the Fund’s sole sub-advisor. The Board approved the portfolio manager team of Stefan Löwenthal and Jürgen Wurzer of MIMAK and Aaron D. Young of Delaware Management Company (DMC) as new Fund portfolio managers. In connection with these changes, the Board approved applicable revisions to the Fund’s investment strategies and primary (regulatory) and secondary benchmarks. All changes took effect on October 30, 2024.

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 macquarie.com/mam/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 macquarie.com/mam/literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

The performance of the Fund will depend on the success of the allocations among the chosen underlying funds, and in general, the Fund is subject to the same risks as those of its underlying funds. International investing involves additional risks, including currency fluctuations, political or economic conditions affecting the foreign country, and differences in accounting standards and foreign regulations. These risks are magnified in emerging markets.

Fixed income securities can lose value, including the possible loss of principal. An issuer of a fixed income security may be unable to make interest payments and/or repay principal in a timely manner. The prices of bonds and other fixed income securities will increase as interest rates fall and decrease as interest rates rise. Fixed income securities with longer maturities or duration generally are more sensitive to interest rate changes.

High yield securities (“junk bonds”) are subject to reduced creditworthiness of issuers, increased risk of default, and a more limited and less liquid secondary market. High yield securities may also be subject to greater price volatility and risk of loss of income and principal than higher-rated securities.

Restricted securities, which include private placements, are securities that are subject to legal or contractual restrictions on resale, and there can be no assurance of a ready market for resale.

Privately placed securities and other restricted securities will have the effect of increasing the level of Fund illiquidity to the extent that the Fund finds it difficult to sell these securities when management believes it is desirable to do so, especially under adverse market or economic conditions or in the event of adverse changes in the financial condition of the issuer, and the prices realized could be less than those originally paid or less than the fair market value.

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.