Delaware Wealth Builder Fund*

Key features

Seeks total return with a flexible exposure to securities throughout the capital structure that offer the potential for capital growth and current income

Provides diversification among different asset classes and across geographies consistent with a moderate investment risk tolerance

Strategic and tactical allocations made by an investment team with more than 30 years? collective experience managing multi-asset portfolios

Daily pricing as of 01/26/2021

NAV
$14.34
NAV 1-day net change
0.01
Max offer price
$14.34

Total net assets as of 12/31/2020

All share classes
$407.6 million

Overview

Fund information
Inception date12/02/1996
Dividends paid (if any)Monthly
Capital gains paid (if any)November or December
Fund identifiers
NASDAQDDIIX
CUSIP24610B404

Benchmark and peer group

60% S&P 500® Index / 40% Bloomberg Barclays US Aggregate Index (Primary) (view definition)

S&P 500® Index (Secondary) (view definition)

Morningstar Allocation — 50% to 70% Equity Category (view definition)

Lipper Flexible Portfolio 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 (12/31/2020)

Returns for less than one year are not annualized.

The primary benchmark index for the Fund has been changed to a blended index to better reflect the nature of the underlying securities held by the Fund.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Performance shown prior to Oct. 4, 2019, are as of the predecessor fund and investment team. Please see the Updated Significant Fund Event and prospectus for more information.

Average annual total return as of quarter-end (12/31/2020)

Returns for less than one year are not annualized.

The primary benchmark index for the Fund has been changed to a blended index to better reflect the nature of the underlying securities held by the Fund.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Performance shown prior to Oct. 4, 2019, are as of the predecessor fund and investment team. Please see the Updated Significant Fund Event and prospectus for more information.

Overall Morningstar RatingTM

Institutional Class shares - as of 12/31/2020

RatingNo. of funds
Overall2636
3 years1636
5 years1575
10 years2414
Morningstar categoryMorningstar Allocation -- 50% to 70% Equity Category
 

(View Morningstar disclosure)

The Morningstar rating is based on risk-adjusted returns.

Morningstar ranking - as of 12/31/2020
YTD ranking 650 / 673
1 year 650 / 673
3 years 595 / 636
5 years 541 / 575
10 years 318 / 414
Morningstar categoryMorningstar Allocation -- 50% to 70% Equity Category

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking - as of 12/31/2020
YTD ranking 412 / 506
1 year 412 / 506
3 years 305 / 457
5 years 273 / 376
10 years 47 / 167
Lipper classificationLipper Flexible Portfolio Funds Average

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Expense ratio

Gross
0.84%
Net
0.83%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from March 27, 2020 to March 31, 2021. Please see the fee table in the Fund’s prospectus for more information.

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2020
2.73%
2019
17.80%
2018
-6.95%
2017
9.40%
2016
9.41%
2015
-2.40%
2014
8.22%
2013
20.00%
2012
13.93%
2011
2.34%
2010
13.78%

Portfolio

Portfolio characteristics as of 12/31/2020

Number of holdings
574
Portfolio turnover (last fiscal year)
91%
Beta (relative to 60% S&P500 Index/ 40% Bloomberg Barclays US Aggregate Index) (view definition)
1.15
SEC 30-day yield with waiver (view definition)
1.77%
SEC 30-day yield without waiver (view definition)
1.73%
Annualized standard deviation, 3 years (view definition)
13.69

Portfolio composition as of 12/31/2020
Total may not equal 100% due to rounding.

Large-cap value
37.5%
High yield
11.9%
Convertibles
11.9%
Opportunistic
10.3%
International equity
7.5%
REITs
4.9%
Investment grade
4.9%
Custom equity
4.9%
International fixed income
4.5%
Cash and cash equivalents
1.7%

Top 10 equity holdings as of 12/31/2020

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

List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes.

Holding
% of portfolio
Holding
% of portfolio
Ishares Russell Growth Etf Trust
4.10
Vanguard Mega Cap Growth Index Fun
4.09
Johnson & Johnson
1.29
Equity Residential Reit
1.24
Broadcom Inc.
1.24
Merck & Co. Inc.
1.21
Lowes Companies Inc.
1.20
Discover Financial Services
1.20
Verizon Communications Inc.
1.19
Allstate Corp.
1.19

Total % Portfolio in Top 10 holdings - 17.95%

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
2020
0.000
0.307
2019
0.192
0.404
2018
0.817
0.391
2017
0.049
0.374
2016
0.000
0.304
2015
0.000
0.361
2014
0.000
0.375
2013
0.000
0.310
2012
0.000
0.383
2011
0.000
0.378
2010
0.000
0.394

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 (DMC)

Sub-advisor

Macquarie Investment Management Austria Kapitalanlage AG (MIMAK)

Stefan Lowenthal- use this version

Stefan Löwenthal, CFA

  • Senior Vice President, Chief Investment Officer — Global Multi Asset Team
  • Start date on the Fund: June 2020
  • Years of industry experience: 12
  • Read bio
Jurgen Wurzer

Jürgen Wurzer, CFA

  • Vice President, Deputy Head of Portfolio Management, Senior Investment Manager — Global Multi Asset Team
  • Start date on the Fund: June 2020
  • Years of industry experience: 14
  • Read bio

Fees

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering pricenone
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lowernone
Annual fund operating expenses
Management fees0.65%
Distribution and service (12b-1) feesnone
Other expenses0.19%
Total annual fund operating expenses0.84%
Fee waivers and expense reimbursements1(0.01%)
Total annual fund operating expenses after fee waivers and expense reimbursements0.83%

1 The Fund’s investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any acquired fund fees and expenses, taxes, interest, short sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 0.83% of the Fund’s average daily net assets from March 27, 2020 through March 31, 2021. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

Resources

Institutional Class shares are available only to certain investors. See the prospectus for more information.

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 clicking the prospectus link located under the Resources section, 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 are located under the Resources section, 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, Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Global Limited (MIMGL), and Macquarie Funds Management Hong Kong Limited (MFMHKL) (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 the Manager believes it will be beneficial to utilize an Affiliated Sub-Advisor's specialized market knowledge. The Manager may permit its affiliates, MIMGL and MFMHKL, to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

Investing involves risk, including the possible loss of principal.

* Investment in the Fund does not in any way provide an indication of future performance or a guarantee of positive returns.

The Fund may invest up to 45% of its net assets in high yield, higher-risk corporate bonds.

Fixed income securities and bond investments 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.

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.

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 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.

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

Not FDIC Insured • No Bank Guarantee • May Lose Value

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