Macquarie VIP Natural Resources Series

Macquarie VIP Natural Resources Series(formerly, Delaware Ivy VIP Natural Resources)

Key features

Actively managed global all-capitalization fund that invests in natural resources equities

Value-oriented fundamental research with a top-down global macro-economic analysis to make stock selections in seeking long-term returns

Natural resource equities typically provide leverage to global growth and inflation protection with relatively low correlations to broader equity

Daily pricing as of 06/14/2024

NAV
NAV 1-day net change
Max offer price
$4.56

Total net assets as of 05/31/2024

All share classes
$85.5 million

Overview

Series information
Inception date 04/28/2005
Dividends paid (if any) Annual
Series identifiers
CUSIP 46600H703

Benchmark and peer group

S&P Global Natural Resources 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
1.30%

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
1.63%
2022
17.72%
2021
26.68%
2020
-11.99%
2019
9.46%
2018
-23.23%
2017
2.97%
2016
23.81%
2015
-22.39%
2014
-13.04%

Portfolio

Portfolio characteristics as of 05/31/2024

Number of holdings
42
Market cap (median) Source: FactSet
$6.6 billion
Market cap (weighted average) Source: FactSet
$38.5 billion
Portfolio turnover (last fiscal year)
34%
Beta (relative to S&P Global Nat Resource-Net) (view definition)
1.03
Annualized standard deviation, 3 years (view definition)
22.43

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

Domestic equities
50.8%
International equities & depositary receipts
48.5%
Cash, cash equivalents and other assets
0.7%

Top 10 holdings as of 05/31/2024

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
SHELL PLC
6.54
NEWMONT CORPORATION
6.49
ANGLO AMERICAN PLC
4.90
CF INDUSTRIES HOLDINGS INC
4.88
GLENCORE PLC
3.96
WHEATON PRECIOUS METALS CORP
3.86
CRH PLC
3.82
HUDBAY MINERALS INC
3.69
ENDEAVOUR MINING PLC
3.55
NUTRIEN LTD
3.51

Total % Portfolio in Top 10 holdings - 45.20%

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
Diversified Metals & Mining
15.3%
Oil & Gas Exploration & Production
14.7%
Gold
13.9%
Integrated Oil & Gas
10.0%
Fertilizers & Agricultural Chemicals
8.4%
Construction Materials
3.8%
Forest Products
3.5%
Oil & Gas Equipment & Services
3.5%
Aluminum
3.3%
Copper
2.5%
Specialty Chemicals
2.4%
Oil & Gas Drilling
2.4%
Construction & Engineering
2.0%
Packaged Foods & Meats
2.0%
Oil & Gas Refining & Marketing
1.9%
Asset Management & Custody Banks
1.9%
Paper Products
1.6%
Agricultural Products
1.6%
Industrial Gases
1.1%
Electrical Components & Equipment
1.1%
Timber REITs
1.0%
Heavy Electrical Equipment
0.5%
Steel
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%

Please see the prospectus and SAI for additional information.

1Other expenses contain a 0.02% 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 (RICs) 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. The Acquired fund fees and expenses shown are based on the total expense ratio of the RICs for the RICs' most recent fiscal period. These expenses are not direct costs paid by Series shareholders, and are not used to calculate the Series' NAV.

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 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.

“Non-diversified” investments may allocate more of their net assets to investments in single securities than “diversified” investments. Resulting adverse effects may subject these investments to greater risks and volatility.

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.

Because the Series invests significantly in Natural Resources Securities, there is the risk that the Series will perform poorly during a downturn in the natural resource sector.

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.

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