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DTRIX Delaware Limited-Term Diversified Inc A

  • Fund
  • DTRIX
  • Price as of: Dec 02, 2016
  • $8.49
  • + $0.01
  • + 0.12%
  • Category
  • Total Bond Market

DTRIX - Profile

Vitals

  • YTD Return 0.7%
  • 3 Yr Annualized Return -0.2%
  • 5 Yr Annualized Return -0.8%
  • Net Assets $985 M
  • Holdings in Top 10 16.1%

52 WEEK LOW AND HIGH

$8.49
$8.42
$8.60

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.93%

SALES FEES

  • Front Load 2.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 9.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$250

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.29%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Delaware Limited-Term Diversified Income Fund
  • Fund Family Name Delaware Investments
  • Inception Date Nov 25, 1985
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Brian C. McDonnell

Fund Description

Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in investment grade fixed income securities, including, but not limited to, fixed income securities issued or guaranteed by the U.S. government, its agencies or instrumentalities, and by U.S. corporations. The fund may invest up to 20% of its net assets in below-investment-grade securities.

DTRIX - Performance

Return Ranking - Trailing

Period DTRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.7% -8.1% 202.4% 35.15% 3
1 Yr 0.4% -12.6% 13.2% 58.09% 4
3 Yr -0.2% * -5.8% 8.5% 64.84% 4
5 Yr -0.8% * -2.8% 9.4% 78.27% 5
10 Yr 0.3% * -1.7% 9.8% 70.67% 4

* Annualized


Return Ranking - Calendar

Period DTRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.1% -33.0% 3.0% 12.38% 2
2014 -0.4% -9.3% 14.9% 43.07% 4
2013 -3.4% -24.1% 40.4% 31.54% 3
2012 0.3% -100.0% 18.7% 60.06% 5
2011 -1.1% -20.6% 15.5% 49.19% 4

Total Return Ranking - Trailing

Period DTRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.7% -7.3% 205.2% 45.80% 3
1 Yr 0.4% -12.6% 16.3% 60.27% 4
3 Yr -0.2% * -7.2% 8.5% 77.00% 5
5 Yr -0.7% * -3.7% 9.4% 88.14% 5
10 Yr 0.5% * -1.7% 9.8% 80.59% 5

* Annualized


Total Return Ranking - Calendar

Period DTRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.1% -32.5% 4.5% 30.64% 3
2014 -0.4% -8.3% 16.8% 61.57% 5
2013 -3.4% -12.9% 58.5% 52.34% 4
2012 0.5% -100.0% 35.2% 70.15% 5
2011 0.3% -20.7% 18.1% 53.30% 4

NAV & Total Return History

DTRIX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

DTRIX Category Low Category High DTRIX % Rank Quintile
Net Assets 985 M 319 K 176 B 11.95% 3
Number of Holdings 730 1 17569 7.53% 2
Net Assets in Top 10 64.7 M -36 B 21.3 B 18.72% 4
Weighting of Top 10 16.1% 0.0% 1093.9% 23.91% 4

Top 10 Holdings

  1. US 10 Year Note (CBT) Dec16 4.79%
  2. Fannie Mae Single Family TBA 4.5% 2046-11-01 2.63%
  3. Cap One Cc Tr 2007-1a FRN 1.42%
  4. FHLMC CMO 3.096% 1.26%
  5. Chase Issuance Tr 2015-6a FRN 1.14%
  6. Ba Credit Card Tr 2007-4a FRN 1.06%
  7. Trade Maps 1 Ltd 2013-1 FRN 1.00%
  8. Ge Dealer Flrpln 2012-2 FRN 1.00%
  9. Navistar Finl Dealer Tr 2014-1 FRN 0.91%
  10. Chase Issuance Tr 2013-9a FRN 0.90%

Asset Allocation

Weighting Category Low Category High DTRIX % Rank Quintile
Bonds
94.76% -175.98% 192.68% 11.50% 3
Cash
8.88% -96.63% 275.92% 9.31% 2
Convertible Bonds
0.23% 0.00% 12.73% 4.58% 1
Stocks
0.00% -3.27% 98.09% 5.75% 5
Preferred Stocks
0.00% -0.45% 17.13% 7.27% 5
Other
-3.87% -30.71% 98.36% 14.65% 5

Bond Sector Breakdown

Weighting Category Low Category High DTRIX % Rank Quintile
Corporate
47.53% 0.00% 221.70% 9.00% 2
Securitized
46.88% 0.00% 105.84% 4.63% 1
Cash & Equivalents
8.88% -63.55% 416.01% 9.00% 2
Municipal
1.40% 0.00% 105.76% 7.53% 2
Derivative
-0.20% -513.07% 38.63% 3.10% 5
Government
-0.71% -389.49% 128.09% 27.62% 5

Bond Geographic Breakdown

Weighting Category Low Category High DTRIX % Rank Quintile
US
81.22% -370.09% 180.29% 13.84% 3
Non US
13.54% -45.82% 351.70% 13.22% 3

DTRIX - Expenses

Operational Fees

DTRIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.93% 0.00% 42.51% 9.97% 3
Management Fee 0.48% 0.00% 2.15% 2.54% 4
12b-1 Fee 0.25% 0.00% 1.00% 1.91% 3
Administrative Fee N/A 0.00% 0.63% N/A N/A

Sales Fees

DTRIX Fees (% of AUM) Category Low Category High DTRIX Rank Quintile
Front Load 2.75% 0.00% 5.75% 3.57% 2
Deferred Load N/A 0.15% 5.50% N/A N/A

Trading Fees

DTRIX Fees (% of AUM) Category Low Category High DTRIX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DTRIX Fees (% of AUM) Category Low Category High DTRIX Rank Quintile
Turnover 9.00% 0.00% 1856.00% 17.15% 1

DTRIX - Distributions

Dividend Yield Analysis

DTRIX Category Low Category High DTRIX % Rank Quintile
Dividend Yield 0.1% 0.00% 1.30% 24.95% 4

Dividend Distribution Analysis

DTRIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

DTRIX Category Low Category High DTRIX % Rank Quintile
Net Income Ratio 1.29% -1.76% 17.13% 17.46% 4

Capital Gain Distribution Analysis

DTRIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

DTRIX - Managers

Brian C. McDonnell

Manager

Start Date

Apr 29, 2012

Tenure

4.51

Tenure Rank

5.5%

"Brian McDonnell, CFA Vice President, Portfolio Manager, Senior Structured Products Analyst, Trader Brian McDonnell is a member of the firm's taxable fixed income portfolio management team with primary responsibility for portfolio construction and asset allocation of structured products strategies. Prior to joining Delaware Investments in March 2007 as a vice president and senior structured products analyst / trader, he was managing director for fixed income trading at Sovereign Securities, where he was responsible for starting a fixed income trading and securitization platform as a subsidiary of Sovereign Bank. He traded structured products as well as managing a desk that traded all taxable and non-taxable products, and he was responsible for hedging and risk management of the firm’s holdings. Earlier in his career, he spent 11 years in various fixed income capacities with Prudential Securities in New York, where he traded adjustable- and fixed-rate mortgages as well as structured mortgages and all their related derivatives. McDonnell has a bachelor’s degree in finance from Boston College, and he is a member of the CFA Society of Philadelphia "


Adam H. Brown

Manager

Start Date

Oct 31, 2013

Tenure

3.0

Tenure Rank

6.7%

Adam H. Brown, CFA, is a portfolio manager on Delaware Management Company's taxable fixed income team, with specific responsibilities for the bank loan portfolio. Prior to joining Delaware Investments in April 2011,he spent more than nine years with Four Corners, where he was a co-portfolio manager on four collateralized loan obligation (CLO) funds and a senior research analyst supporting noninvestment grade portfolios. Before that, Brown was with Wachovia Securities, where he worked in the leveraged finance group arranging senior secured bank loans and high yield bond financings for financial sponsors and corporate issuers. He earned a bachelor's degree from the University of Florida and an MBA from the A.B. Freeman School of Business at Tulane University.


Roger A. Early

Manager

Start Date

May 24, 2007

Tenure

9.45

Tenure Rank

3.0%

Roger A. Early, CPA, CFA, CFP Senior Vice President, Co-Chief Investment Officer – Total Return Fixed Income Strategy Roger A. Early rejoined Delaware Investments in March 2007 as a member of the firm’s taxable fixed income portfolio management team, with primary responsibility for portfolio construction and strategic asset allocation. During his previous time at the firm, from 1994 to 2001, he was a senior portfolio manager in the same area, and he left Delaware Investments as head of its U.S. investment grade fixed income group. In recent years, Early was a senior portfolio manager at Chartwell Investment Partners and Rittenhouse Financial and served as the chief investment officer for fixed income at Turner Investments. Prior to joining Delaware Investments in 1994, he worked for more than 10 years at Federated Investors where he managed more than $25 billion in mutual fund and institutional portfolios in the short-term and investment grade markets. He left the firm as head of institutional fixed income management. Earlier in his career, he held management positions with the Federal Reserve Bank, PNC Financial, Touche Ross, and Rockwell International. Early earned his bachelor’s degree in economics from The Wharton School of the University of Pennsylvania and an MBA with concentrations in finance and accounting from the University of Pittsburgh. He is a member of the CFA Society of Philadelphia.


Paul Grillo

Manager

Start Date

Feb 16, 1999

Tenure

17.72

Tenure Rank

0.8%

Paul Grillo, CFA Senior Vice President, Co-Chief Investment Officer – Total Return Fixed Income Strategy Paul Grillo is a member of the firm’s taxable fixed income portfolio management team with primary responsibility for portfolio construction and strategic asset allocation. He is also a member of the firm’s asset allocation committee, which is responsible for building and managing multi-asset class portfolios. He joined Delaware Investments in 1992 as a mortgage-backed and asset-backed securities analyst, assuming portfolio management responsibilities in the mid-1990s. Grillo serves as co-lead portfolio manager for the firm’s Diversified Income products and has been influential in the growth and distribution of the firm’s multisector strategies. Prior to joining Delaware Investments, Grillo served as a mortgage strategist and trader at Dreyfus Corporation. He also worked as a mortgage strategist and portfolio manager at Chemical Investment Group and as a financial analyst at Chemical Bank. Grillo holds a bachelor’s degree in business management from North Carolina State University and an MBA with a concentration in finance from Pace University.


John P. McCarthy

Manager

Start Date

Jul 27, 2016

Tenure

0.26

Tenure Rank

9.0%

John P. McCarthy is co-head of credit research and senior research analyst on the firm's taxable fixed income team, responsible for industrials, steel, metals, and mining. He rejoined Delaware Investments in March 2007 after he worked in the firm’s fixed income area from 1990 to 2000 as a senior high yield analyst and high yield trader, and from 2001 to 2002 as a municipal bond trader. Most recently, he was a senior high yield analyst/trader at Chartwell Investment Partners. McCarthy earned a bachelor’s degree in business administration from Babson College, and he is a member of the CFA Society of Philadelphia.


Tenure Analysis

Category Low

0.0

Category High

27.9

Category Average

6.07

Category Mode

4.8