Macquarie VIP Opportunity Series

Macquarie VIP Opportunity Series (formerly, Delaware VIP® Opportunity Series)

Key features

Highly experienced small-cap-focused investment team

Focus on uncovering the best opportunities across the traditionally under-researched US small company market

Daily review of the portfolio's risk exposures ensures alpha is driven by stock selection

Daily pricing as of 10/11/2024

NAV
NAV 1-day net change
Max offer price
$18.87

Total net assets as of 09/30/2024

All share classes
$80.1 million

Overview

Series information
Inception date 12/17/2012
Dividends paid (if any) Annual
Capital gains paid (if any) Annually
Series identifiers
CUSIP 246493464

Benchmark

Russell 2500 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 (09/30/2024)

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 ()

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
0.91%
Net
0.83%

Net 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.

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

Portfolio

Portfolio characteristics as of 09/30/2024

Number of holdings
128
Market cap (median) Source: FactSet
$6.8 billion
Market cap (weighted average) Source: FactSet
$8.5 billion
Portfolio turnover (last fiscal year)
19%
Beta (relative to Russell 2500 Index) (view definition)
0.92
SEC 30-day yield with waiver (view definition)
0.51%
SEC 30-day yield without waiver (view definition)
0.45%
Annualized standard deviation, 3 years (view definition)
19.59

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

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 09/30/2024

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
Finance
14.3%
Technology
13.8%
Healthcare
13.1%
Capital goods
11.8%
REIT
7.5%
Basic materials
7.3%
Business services
5.2%
Energy
4.9%
Consumer discretionary
4.2%
Credit cyclicals
3.7%
Transportation
3.6%
Consumer staples
3.0%
Consumer services
2.7%
Media
1.8%
Utilities
1.7%

Credit quality as of //

Rating
Series
Rating
Series

Management

Francis X Morris

Francis Morris 

  • Senior Managing Director, Head of US Core Equity
  • Start date on the Fund: October 2019
  • Years of industry experience: 41
  • Read bio
Christopher Adams

Christopher Adams, CFA

  • Managing Director, Senior Portfolio Manager – US Core Equity
  • Start date on the Fund: October 2019
  • Years of industry experience: 36
  • Read bio
Michael Morris

Michael Morris, CFA

  • Managing Director, Senior Portfolio Manager – US Core Equity
  • Start date on the Fund: October 2019
  • Years of industry experience: 31
  • Read bio
Donald Padilla

Donald Padilla, CFA

  • Managing Director, Senior Portfolio Manager – US Core Equity
  • Start date on the Fund: October 2019
  • Years of industry experience: 37
  • Read bio
David Reidinger

David Reidinger 

  • Managing Director, Senior Portfolio Manager – US Core Equity
  • Start date on the Fund: October 2019
  • Years of industry experience: 31
  • Read bio
Christina Van Het Hoen

Christina Van Het Hoen, CFA

  • Senior Vice President, Portfolio Manager – US Core Equity
  • Start date on the Fund: July 2024
  • Years of industry experience: 13
  • Read bio

Fees

Annual portfolio operating expenses
Management fees 0.75%
Distribution and service (12b-1) fees none
Other expenses 0.16%
Total annual series operating expenses 0.91%
Fee waivers and expense reimbursements1 (0.08%)
Total annual series operating expenses after fee waivers and expense reimbursements 0.83%

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 Series’ 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 series operating expenses from exceeding 0.83% of the Series’ 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 Series.

Resources

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.

Investments in small and/or medium-sized companies typically exhibit greater risk and higher volatility than larger, more established companies.

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.

The risks of investing in an exchange-traded fund (ETF) typically reflect the risks of the types of instruments in which the ETFs invest. Because ETFs are investment companies, a fund will bear its proportionate share of the fees and expenses of an investment in an ETF. As a result, a fund’s expenses may be higher and performance may be lower.

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 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.

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.