Macquarie VIP Pathfinder Moderately Conservative - Managed Volatility Series(formerly, Delaware VIP Pathfinder Moderately Conservative - Managed Volatility)

Key features

Macquarie VIP Pathfinder Moderately Conservative — Managed Volatility Series seeks to achieve its objective by investing primarily in various Delaware Funds (Underlying Funds) and by utilizing a volatility management strategy that is intended to manage volatility of the Series' equity returns. The Manager manages the Series' investments in the Underlying Funds and other assets that are not part of the volatility management strategy. An investment subadviser, Securian Asset Management, Inc. (Securian AM), manages the volatility management strategy of the Series.

Under normal circumstances, the Manager allocates approximately 90-95% (although such amounts may be higher than 95%, depending upon market conditions) of the Series' assets among asset classes so that approximately 35-65% of the value of this portion of the Series' assets are in equities (with a maximum of 20% allocated to international/global stocks) and approximately 35-65% of this portion of the Series' assets are in fixed income (including cash). The Series implements this allocation by investing primarily in the Underlying Funds. The Series typically will invest in Standard Class shares of an Underlying Fund. To the extent an Underlying Fund does not offer Standard Class shares, the Series generally will invest in Service Class shares of such Underlying Fund. Shorter-term allocations may vary from the target ranges described above. For the most current list of Underlying Funds in which the Series invests, please see the Series' most recent shareholder report or Series holdings disclosures. For more information about the investment strategies and risks of an Underlying Fund, see such Underlying Fund's prospectus.

Daily pricing as of 05/07/2025

NAV
$3.33
NAV 1-day net change
0.01
Max offer price
$3.33

Total net assets as of 03/31/2025

All share classes
$23.3 million

Overview

Series information
Inception date 08/01/2013
Dividends paid (if any) Annually
Series identifiers
CUSIP 46600H653

Benchmark

40% Russell 3000 ® / 30% Bloomberg US Credit Index / 15% MSCI EAFE Index / 15% Bloomberg 1-3 Year Government/Credit Index (view definition)

Russell 3000® Index (view definition)

MSCI EAFE Index (view definition)

Bloomberg US Credit Index (view definition)

Bloomberg 1-3 Year Government/Credit Index (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.

Expense ratio

Gross
1.30%
Net
1.09%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from May 1, 2025 through April 30, 2026. Please see the fee table in the Series' prospectus for more information.

The performance and expense ratio information shown represent the performance and fees as they relate to actual shares of the Series. These examples do not include any fees or sales charges imposed by the variable insurance contract for which the Series is an investment option. If they were included, your costs would be higher and performance would be lower. Investors should consult the contract prospectus or disclosure documents for more information.

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2024
7.07%
2023
12.62%
2022
-12.71%
2021
10.72%
2020
9.61%
2019
14.89%
2018
-2.90%
2017
11.84%
2016
1.21%
2015
-0.52%

Portfolio

Portfolio characteristics as of 03/31/2025

Number of holdings
11
Portfolio turnover (last fiscal year)
36%
Beta (relative to Blend Index - Pathfinder Moderately Conservative) (view definition)
0.83
Annualized standard deviation, 3 years (view definition)
9.90

Top 10 Underlying Funds (% of net assets) 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 VIP CORPORATE BOND SERIE
28.06
MACQUARIE VIP CORE EQUITY SERIES
15.95
MACQUARIE VIP INTL CORE EQ SERIES
14.84
MACQUARIE VIP LIMITED-TERM BOND SE
14.11
MAQ VIP GROWTH & INCOME SERIES
11.46
MACQUARIE VIP GROWTH SERIES
5.30
MACQUARIE VIP VALUE SERIES
4.29
MACQUARIE VIP SMID CAP CORE SERIES
2.66
MACQUARIE VIP HIGH INCOME SERIES
0.96

Total % Fund in Top 10 holdings - 97.63%

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 2016
  • Years of industry experience: 20
  • Read bio

Sub-advisors

Securian Asset Management, Inc. (Securian AM)
Macquarie Investment Management Austria Kapitalanlage AG (MIMAK)

Stefan Lowenthal

Stefan Löwenthal, CFA

  • Head of Global Multi-Asset
  • Start date on the Fund: November 2021
  • Years of industry experience: 17
  • Read bio
Jurgen Wurzer

Jürgen Wurzer 

  • Deputy Head of Global Multi-Asset
  • Start date on the Fund: November 2021
  • Years of industry experience: 18
  • Read bio

Fees

Annual portfolio operating expenses
Management fees 0.20%
Distribution and service (12b-1) fees none
Other expenses1 1.10%
Total annual series operating expenses 1.30%
Fee waivers and expense reimbursements2 (0.21%)
Total annual series operating expenses after fee waivers and expense reimbursements 1.09%

1Other expenses contain a 0.85% acquired fund fees and expenses. Acquired fund fees and expenses sets forth the Series' pro rata portion of the cumulative expenses charged by the registered investment companies in which the Series invested during the last fiscal year. The actual Acquired fund fees and expenses will vary with changes in the allocations of the Series' assets. These expenses are not direct costs paid by Series shareholders, and are not used to calculate the Series' NAV.

2Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from May 1, 2025 through April 30, 2026. Please see the fee table in the Series' prospectus for more information.

Please see the prospectus and SAI for additional information.

Resources

Effective May 1, 2024, Class II was renamed Service Class.

Carefully consider the Series' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Series' prospectus and its summary prospectus, which may be obtained by visiting macquarie.com/mam/vip-literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.

The Series' investment manager, Delaware Management Company (Manager), may permit its affiliate, Macquarie Investment Management Global Limited (MIMGL), to execute Series security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL. The Series' 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 Series 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.

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. An issuer of a fixed income security may be unable to make interest payments and/or repay principal in a timely manner. The principal on a fixed income security may be prepaid prior to maturity, which may require reinvestment at a lower interest rate. 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.

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 Series' 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 Series from executing advantageous investment decisions in a timely manner and could negatively impact the Series' ability to achieve its investment objective. Any such event(s) could have a significant adverse impact on the value and risk profile of the Series.

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.

Macquarie VIP funds are not available for direct investment except for issuers of variable insurance product contracts. They are available only through the purchase of certain variable insurance products.

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

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