Delaware VIP® Equity Income Series

Delaware VIP® Equity Income Series*

Key features

An investment approach which is backed by data and science, removing emotional biases inherent in stock picking

A diversified portfolio focused on high quality companies with strong and growing dividends

Aims to consistently deliver returns in excess of the benchmark through various market conditions

Daily pricing as of 02/03/2023

NAV
NAV 1-day net change
Max offer price
$17.94

Total net assets as of 12/31/2022

All share classes
$108.8 million

Overview

Series information
Inception date 11/15/1993
Dividends paid (if any) Annual
Capital gains paid (if any) Annually
Series identifiers
CUSIP 246493498

Benchmark

Russell 1000® Value 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 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 (01/31/2023)

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 (12/31/2022)

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
0.75%
Net
0.74%

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
2022
3.48%
2021
22.20%
2020
-0.33%
2019
22.71%
2018
-8.42%
2017
15.52%
2016
13.28%
2015
-1.03%
2014
8.26%
2013
30.53%

Portfolio

Portfolio characteristics as of 12/31/2022

Number of holdings
55
Market cap (median) Source: FactSet
$53.3 billion
Market cap (weighted average) Source: FactSet
$141.3 billion
Portfolio turnover (last fiscal year)
49%
Beta (relative to Russell 1000 Value Index) (view definition)
0.96
SEC 30-day yield with waiver (view definition)
2.05%
SEC 30-day yield without waiver (view definition)
1.61%
Annualized standard deviation, 3 years (view definition)
21.36

Portfolio composition as of 01/31/2023
Total may not equal 100% due to rounding.

Domestic equities
99.7%
Cash, cash equivalents and other assets
0.3%

Top 10 holdings as of 12/31/2022

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

List may exclude cash and cash equivalents. Please see the Series' complete list of holdings for more information.

Holdings based by issuer.

Holding
% of portfolio
Holding
% of portfolio
Exxon Mobil Corp.
6.50
Merck & Co. Inc.
4.62
Bristol-Myers Squibb Co.
4.00
Gilead Sciences Inc.
3.82
Cigna Holding Co.
3.68
TJX Companies Inc.
3.67
Cisco Systems Inc.-(PRE-MERGER)
3.63
Conocophillips
3.48
Philip Morris International Inc.
3.47
Johnson & Johnson
3.32

Total % Portfolio in Top 10 holdings - 40.19%

List of monthly holdingsList of quarterly holdings

Sector allocation as of 12/31/2022

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

Sector
% of portfolio
Sector
% of portfolio
Healthcare
24.6%
Financials
19.4%
Information technology
13.0%
Energy
12.6%
Consumer discretionary
10.7%
Communication services
8.3%
Consumer staples
5.5%
Industrials
5.4%

Management

Scot Thompson

Scot Thompson 

  • Managing Director, Co-Head of Systematic Investments, Portfolio Manager
  • Start date on the Fund: January 2021
  • Years of industry experience: 25
  • Read bio
Benjamin Leung

Benjamin Leung, CFA

  • Managing Director, Co-Head of Systematic Investments, Head of Research
  • Start date on the Fund: January 2021
  • Years of industry experience: 21
  • Read bio

Fees

Annual series operating expenses
Management fees 0.65%
Distribution and service (12b-1) fees none
Other expenses 0.10%
Total annual Series operating expenses 0.75%
Fee waivers and expense reimbursements1 (0.01%)
Total annual series operating expenses after fee waivers and expense reimbursements 0.74%

Please see the prospectus and SAI for additional information.

1Net expense ratio reflects a contractual waiver of certain fees/and/or expense reimbursements from April 29, 2022 through April 29, 2023. Please see the fee table in the Series' prospectus for more information.

Resources

* At a meeting on Nov. 18, 2020, the Board of Trustees of Delaware VIP Trust (the "Board") approved the replacement of the Series' current portfolio managers with the Global Systematic Investment team of the Series' current sub-advisor, Macquarie Investment Management Global Limited (MIMGL). In connection with this determination, the Board approved certain changes to the Series' investment strategies. These portfolio management and strategy changes will be effective on or about January 29, 2021. The investment strategy changes may result in higher portfolio turnover in the near term, as the new portfolio management team purchases and sells securities to accommodate the investment strategy changes. A higher portfolio turnover is likely to cause the Series to realize capital gains and incur transaction costs. You should consult your financial advisor about the changes that will result from the investment strategy changes. Please see the supplement in the Series' prospectus dated Nov. 23, 2020 for more information.

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

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 delawarefunds.com/vip-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 disruptions caused by natural disasters, pandemics, or similar events 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 and the value of the Series' investments.

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

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

Delaware VIP® Series refers to Delaware VIP Funds. Delaware 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.

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