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IGWAX Ivy Micro Cap Growth A

  • Fund
  • IGWAX
  • Price as of: Nov 01, 2018
  • $28.82
  • + $0.69
  • + 2.45%
  • Category
  • Micro Cap Equities

IGWAX - Profile

Vitals

  • YTD Return 14.0%
  • 3 Yr Annualized Return 17.4%
  • 5 Yr Annualized Return 9.9%
  • Net Assets $208 M
  • Holdings in Top 10 36.4%

52 WEEK LOW AND HIGH

$28.82
$25.57
$34.43

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.68%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 26.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of 2018-10-24

STANDARD (TAXABLE)

$750

IRA

N/A

Investment Themes

CATEGORY

Micro Cap Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Small Growth

Distributions

  • YTD Total Return 14.0%
  • 3 Yr Annualized Total Return 15.1%
  • 5 Yr Annualized Total Return 8.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.27%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Ivy Micro Cap Growth Fund
  • Fund Family Name Ivy Funds
  • Inception Date Feb 17, 2009
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager John Bichelmeyer

Fund Description

The fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in equity securities of micro-capitalization companies. The fund's investment manager utilizes a bottom-up stock selection process and seeks to invest in securities of early stage growth companies operating in industries and/or sectors that are expected to benefit from areas of the economy that demonstrate the ability to grow meaningfully faster than overall gross domestic product for a sustained period of time.

IGWAX - Performance

Return Ranking - Trailing

Period IGWAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 14.0% -13.2% 21.2% 28.81% 2
1 Yr 34.3% -34.8% 34.9% 6.67% 1
3 Yr 17.4% * -14.2% 26.7% 18.52% 1
5 Yr 9.9% * -14.4% 11.5% 9.80% 1
10 Yr N/A * 0.6% 19.4% N/A N/A

* Annualized


Return Ranking - Calendar

Period IGWAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 8.3% -45.6% 15.8% 15.52% 1
2017 11.8% -22.1% 28.9% 23.21% 2
2016 -13.5% -14.4% 33.0% 94.44% 5
2015 -8.1% -30.4% 28.6% 47.17% 3
2014 46.3% -24.9% 49.7% 6.00% 1

Total Return Ranking - Trailing

Period IGWAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 14.0% -13.2% 21.2% 28.81% 2
1 Yr 26.6% -34.8% 34.9% 15.00% 1
3 Yr 15.1% * -14.2% 26.7% 24.07% 2
5 Yr 8.6% * -12.9% 12.1% 21.57% 1
10 Yr N/A * 4.3% 55.5% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period IGWAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 8.3% -45.6% 15.8% 15.52% 1
2017 11.8% -17.6% 28.9% 23.21% 2
2016 -10.1% -10.9% 33.0% 90.74% 5
2015 -3.0% -16.2% 47.2% 45.28% 3
2014 68.5% -8.6% 73.0% 6.00% 1

NAV & Total Return History

IGWAX - Holdings

Filings data as of: Sep 30, 2018

Concentration Analysis

IGWAX Category Low Category High IGWAX % Rank Quintile
Net Assets 208 M 3.66 M 6.62 B 9.84% 2
Number of Holdings 56 35 1727 40.98% 5
Net Assets in Top 10 81.2 M 405 K 249 M 3.28% 1
Weighting of Top 10 36.4% 3.9% 51.2% 8.20% 1

Top 10 Holdings

  1. 8x8 Inc 4.66%
  2. Aerie Pharmaceuticals Inc 3.87%
  3. Mimecast Ltd 4.11%
  4. Tactile Systems Technology Inc 5.27%
  5. Tabula Rasa HealthCare Inc 4.33%
  6. Kornit Digital Ltd 3.10%
  7. EVO Payments Inc 2.92%
  8. Cornerstone OnDemand Inc 2.81%
  9. Five9 Inc 2.70%
  10. PetIQ Inc Class A 2.60%

Asset Allocation

Weighting Category Low Category High IGWAX % Rank Quintile
Stocks
84.67% 74.84% 100.57% 52.46% 5
Cash
15.33% 0.00% 20.83% 4.92% 1
Preferred Stocks
0.00% 0.00% 3.66% 6.56% 4
Other
0.00% -0.58% 4.86% 9.84% 4
Convertible Bonds
0.00% 0.00% 0.04% 4.92% 4
Bonds
0.00% 0.00% 3.42% 4.92% 4

Stock Sector Breakdown

Weighting Category Low Category High IGWAX % Rank Quintile
Technology
29.77% 5.68% 43.71% 9.84% 2
Healthcare
24.14% 0.83% 38.58% 9.84% 2
Industrials
8.70% 1.42% 32.08% 54.10% 5
Consumer Cyclical
6.02% 2.20% 48.21% 54.10% 5
Communication Services
5.84% 0.00% 5.84% 1.64% 1
Consumer Defense
3.28% 0.00% 10.64% 32.79% 3
Basic Materials
2.37% 0.00% 14.02% 40.98% 4
Real Estate
2.33% 0.00% 9.77% 26.23% 3
Energy
1.58% 0.00% 8.34% 44.26% 5
Financial Services
0.63% 0.00% 37.38% 55.74% 5
Utilities
0.00% 0.00% 5.01% 22.95% 4

Stock Geographic Breakdown

Weighting Category Low Category High IGWAX % Rank Quintile
US
84.67% 65.52% 99.73% 50.82% 5
Non US
0.00% 0.00% 17.05% 52.46% 5

IGWAX - Expenses

Operational Fees

IGWAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.68% 0.52% 6.72% 50.82% 3
Management Fee 0.95% 0.50% 1.50% 13.11% 2
12b-1 Fee 0.25% 0.00% 1.00% 10.53% 3
Administrative Fee 0.01% 0.01% 0.47% 28.00% 1

Sales Fees

IGWAX Fees (% of AUM) Category Low Category High IGWAX Rank Quintile
Front Load 5.75% 0.00% 5.75% 12.50% 5
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

IGWAX Fees (% of AUM) Category Low Category High IGWAX Rank Quintile
Max Redemption Fee N/A 1.00% 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.

IGWAX Fees (% of AUM) Category Low Category High IGWAX Rank Quintile
Turnover 26.00% 4.08% 156.00% 50.00% 2

IGWAX - Distributions

Dividend Yield Analysis

IGWAX Category Low Category High IGWAX % Rank Quintile
Dividend Yield 0.0% 0.00% 0.28% 48.57% 5

Dividend Distribution Analysis

IGWAX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

IGWAX Category Low Category High IGWAX % Rank Quintile
Net Income Ratio -1.27% -2.31% 0.74% 65.57% 4

Capital Gain Distribution Analysis

IGWAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

IGWAX - Managers

John Bichelmeyer

Manager

Start Date

Jul 01, 2015

Tenure

3.25

Tenure Rank

31.3%

Mr. Bichelmeyer joined IICO in May 2015 as a portfolio manager. Mr. Bichelmeyer joined WRIMCO in May 2015 as a portfolio manager and serves as a portfolio manager for another investment company managed by IICO. Prior to joining WRIMCO, he served as a portfolio manager for Kornitzer Capital Management, Inc. since 2007. Mr. Bichelmeyer earned a BS in Finance from Creighton University. He is a Chartered Financial Analyst.


Tenure Analysis

Category Low

0.0

Category High

24.7

Category Average

6.61

Category Mode

4.2