Macquarie VIP Energy Series

Macquarie VIP Energy Series(formerly, Delaware Ivy VIP Energy)

Key features

The Series' managers deep expertise in the commodity markets helps to understand the business, its competing advantage, and the associated risk-reward dynamics.

The Series focuses on long-term fundamentals and investment in secular change. It seeks to take advantage of global opportunities and manage risk through diversification.

The Series looks across energy sectors to find those best positioned in each market environment including the current framework of the energy transition.

Daily pricing as of 06/14/2024

NAV
NAV 1-day net change
Max offer price
$5.05

Total net assets as of 05/31/2024

All share classes
$86.2 million

Overview

Series information
Inception date 05/01/2006
Dividends paid (if any) Annual
Series identifiers
CUSIP 46600H604

Benchmark

S&P 1500 Energy Sector 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 (05/31/2024)

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 (03/31/2024)

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
1.17%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from May 1, 2024 to April 30, 2025. 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
2023
4.06%
2022
50.42%
2021
42.00%
2020
-36.83%
2019
3.48%
2018
-34.14%
2017
-12.64%
2016
34.55%
2015
-22.14%
2014
-10.56%

Portfolio

Portfolio characteristics as of 05/31/2024

Number of holdings
31
Market cap (median) Source: FactSet
$8.9 billion
Market cap (weighted average) Source: FactSet
$50.6 billion
Portfolio turnover (last fiscal year)
43%
Beta (relative to S&P 1500 Energy Sector Index) (view definition)
0.86
Annualized standard deviation, 3 years (view definition)
26.43

Portfolio composition as of 05/31/2024
Total may not equal 100% due to rounding.

Domestic equities
72.9%
International equities & depositary receipts
26.3%
Cash, cash equivalents and other assets
0.8%

Top 10 holdings as of //

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
List of monthly holdingsList of quarterly holdings

Sector allocation as of 05/31/2024

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
Oil & Gas Exploration & Production
51.4%
Integrated Oil & Gas
16.0%
Oil & Gas Refining & Marketing
8.6%
Oil & Gas Equipment & Services
8.6%
Oil & Gas Drilling
5.5%
Oil & Gas Storage & Transportation
3.7%
Electrical Components & Equipment
1.8%
Agricultural Products
1.7%
Coal & Consumable Fuels
0.9%
Heavy Electrical Equipment
0.5%
Renewable Electricity
0.5%

Management

Sam Halpert

Sam Halpert 

  • Managing Director, Head of Global Natural Resources Equity
  • Start date on the Fund: November 2021
  • Years of industry experience: 30
  • Read bio
Geoffrey King

Geoffrey King 

  • Senior Vice President, Portfolio Manager — Global Natural Resources Equity
  • Start date on the Fund: November 2021
  • Years of industry experience: 20
  • Read bio

Fees

Annual portfolio operating expenses
Management fees 0.85%
Distribution and service (12b-1) fees 0.25%
Other expenses 0.20%
Total annual series operating expenses 1.30%
Fee waivers and expense reimbursements1 (0.13%)
Total annual series operating expenses after fee waivers and expense reimbursements 1.17%

Please see the prospectus and SAI for additional information.

1Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from May 1, 2024 through April 30, 2025. Please see the fee table in the Series' prospectus for more information.

1The 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 dividend and 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 1.13% of the Fund’s average daily net assets from April 30, 2021 through April 30, 2022. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

Resources

Effective May 1, 2024, Class I was renamed Standard Class and 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 delawarefunds.com/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.

Investing involves risk, including the possible loss of principal.

Diversification may not protect against market risk.

Because the Series invests more than 25% of its total assets in the energy related industry, the Series may be more susceptible to a single economic, regulatory, or technological occurrence than a portfolio that does not concentrate its investments in this industry. Investing in companies involved in one specified sector may be more risky and volatile than an investment with greater diversification.

Investing in the energy sector can be riskier than other types of investment activities because of a range of factors, including price fluctuation caused by real and perceived inflationary trends and political developments, and the cost assumed by energy companies in complying with environmental safety regulations.

The Series may invest in Initial Public Offerings (IPOs), which can have a significant positive impact on the Series’ performance that may not be replicated in the future.

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.

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

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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