Delaware Growth and Income Fund

Key features

Focus on high-quality companies with attractive valuations

A diversified portfolio with exposure to all economic sectors, seeking protection from downside risks

Team-based, consensus-driven process that has been applied consistently for more than 40 years

Daily pricing as of 10/16/2020

NAV
$12.47
NAV 1-day net change
0.04
Max offer price
$12.47

Total net assets as of 09/30/2020

All share classes
$1.0 billion

Overview

Fund information
Inception date04/01/2013
Dividends paid (if any)Quarterly
Capital gains paid (if any)November or December
Fund identifiers
NASDAQFGIPX
CUSIP24611D862

Benchmark and peer group

Russell 1000® Value Index (primary) (view definition)

MSCI USA Value Index (gross) (view definition)

S&P 500® Index (view definition)

Morningstar Large Value Category (view definition)

Lipper Large-Cap Value 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 (09/30/2020)

Returns for less than one year are not annualized.

Benchmark lifetime returns are as of the month end prior to the Fund's inception date.

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 (09/30/2020)

Returns for less than one year are not annualized.

Benchmark lifetime returns are as of the month end prior to the Fund's inception date.

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 09/30/2020

MorningstarMorningstarMorningstar
RatingNo. of funds
Overall31129
3 years31129
5 years3992
10 years3716
Morningstar categoryMorningstar Large Value Category
 

(View Morningstar disclosure)

The Morningstar rating is based on risk-adjusted returns.

Morningstar ranking - as of 09/30/2020
YTD ranking 810 / 1220
1 year 863 / 1205
3 years 709 / 1129
5 years 689 / 992
10 years n/a
Morningstar categoryMorningstar Large Value Category

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking - as of 09/30/2020
YTD ranking 284 / 383
1 year 301 / 381
3 years 272 / 359
5 years 275 / 337
10 years n/a
Lipper classificationLipper Large-Cap Value Funds Average

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Expense ratio

Gross
0.80%
Net
0.80%

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2019
25.48%
2018
-10.12%
2017
18.51%
2016
9.85%
2015
-3.10%
2014
7.72%

Portfolio

Portfolio characteristics as of 09/30/2020

Number of holdings
34
Market cap (median) Source: FactSet
$69.5 billion
Market cap (weighted average) Source: FactSet
$105.2 billion
Portfolio turnover (last fiscal year)
55%
Beta (relative to Russell 1000 Value Index) (view definition)
0.95
SEC 30-day yield with waiver (view definition)
1.89%
SEC 30-day yield without waiver (view definition)
1.89%
Annualized standard deviation, 3 years (view definition)
17.61

Portfolio composition as of 09/30/2020
Total may not equal 100% due to rounding.

Domestic equities
98.7%
Cash and cash equivalents
1.3%

Top 10 holdings as of 09/30/2020

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. Please see the Fund's complete list of holdings for more information.

Holdings based by issuer.

Holding
% of portfolio
Holding
% of portfolio
Merck & Co. Inc.
3.28
Mondelez International Inc.
3.25
COMCAST CORPORATION
3.20
ORACLE CORPORATION
3.16
Verizon Communications Inc.
3.13
CVS Health Corp.
3.13
TRUIST FINANCIAL CORP
3.13
Johnson & Johnson
3.12
COGNIZANT TECH SOLUTIONS CORP
3.11
DUPONT DE NEMOURS INC
3.09

Total % Portfolio in Top 10 holdings - 31.60%

List of monthly holdingsList of quarterly holdings

Sector allocation as of 09/30/2020

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
Healthcare
18.5%
Information technology
17.7%
Financials
15.0%
Communication services
11.9%
Consumer staples
9.3%
Industrials
9.1%
Consumer discretionary
6.1%
Materials
3.1%
Utilities
2.8%
Real estate
2.7%
Energy
2.6%

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
0.181
2019
6.935
0.467
2018
4.015
0.385
2017
0.942
0.397
2016
0.754
0.332
2015
0.934
0.269
2014
1.045
0.235
2013
0.684
0.150
2012
0.000
0.000
2011
0.000
0.000
2010
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

Nikhil Lalvani

Nikhil G. Lalvani, CFA

  • Vice President, Senior Portfolio Manager, Team Leader – US Large-Cap Value Equity team
  • Start date on the Fund: October 2019
  • Years of industry experience: 23
  • Read bio
Robert A Vogel

Robert A. Vogel Jr., CFA

  • Vice President, Senior Portfolio Manager
  • Start date on the Fund: October 2019
  • Years of industry experience: 28
  • Read bio
Kristen Bartholdson

Kristen E. Bartholdson 

  • Vice President, Senior Portfolio Manager
  • Start date on the Fund: October 2019
  • Years of industry experience: 20
  • 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 fees0.60%
Distribution and service (12b-1) feesnone
Other expenses0.20%
Total annual fund operating expenses0.80%
Fee waivers and expense reimbursements1none
Total annual fund operating expenses after fee waivers and expense reimbursements0.80%

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 0.82% of the Fund’s average daily net assets from Oct. 4, 2019 through Oct. 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.

*The Fund changed its broad-based securities index to the Russell 1000 Value index as of Oct. 4, 2019. The Fund had previously changed its primary broad-based securities index to the MSCI USA Value Index as of Jan. 31, 2019. In each case the Fund elected to use the new index because it more closely reflected the Fund's investment strategies. The Fund's secondary benchmark, the S&P 500 Index was removed as of Oct. 4, 2019.

The Fund’s investment manager, Delaware Management Company (Manager), may permit its affiliates, Macquarie Investment Management Global Limited (MIMGL) and Macquarie Funds Management Hong Kong Limited, to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

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.

Investing involves risk, including the possible loss of principal.

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.

There is no guarantee that dividend-paying stocks will continue to pay dividends.

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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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.