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IGWAX Ivy Micro Cap Growth A

  • Fund
  • IGWAX
  • Price as of: Jan 19, 2018
  • $26.29
  • + $0.32
  • + 1.23%
  • Category
  • Micro Cap Equities

IGWAX - Profile

Vitals

  • YTD Return 4.0%
  • 3 Yr Annualized Return 3.4%
  • 5 Yr Annualized Return 10.8%
  • Net Assets $159 M
  • Holdings in Top 10 33.0%

52 WEEK LOW AND HIGH

$26.29
$22.50
$26.29

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.68%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 32.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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 4.0%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 9.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.36%
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 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 4.0% -13.2% 10.3% 42.37% 3
1 Yr 8.3% -13.9% 38.4% 68.33% 4
3 Yr 3.4% * -1.9% 19.2% 81.48% 4
5 Yr 10.8% * 3.8% 21.2% 76.47% 4
10 Yr N/A * 1.8% 10.8% N/A N/A

* Annualized


Return Ranking - Calendar

Period IGWAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 8.3% -17.6% 28.9% 32.76% 2
2016 11.8% -22.1% 33.0% 55.36% 3
2015 -13.5% -30.4% 3.3% 68.52% 4
2014 -8.1% -24.9% 28.6% 52.94% 3
2013 46.3% 1.8% 64.7% 26.09% 2

Total Return Ranking - Trailing

Period IGWAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.0% -13.2% 10.3% 42.37% 3
1 Yr 2.1% -10.9% 38.4% 91.67% 5
3 Yr 1.4% * 0.5% 19.2% 98.15% 5
5 Yr 9.5% * 3.9% 21.2% 86.27% 5
10 Yr N/A * 1.8% 10.8% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period IGWAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 8.3% -17.6% 28.9% 32.76% 2
2016 11.8% -10.7% 33.0% 55.36% 3
2015 -10.1% -16.2% 8.2% 75.93% 4
2014 -3.0% -8.6% 47.2% 66.67% 4
2013 68.5% 1.8% 386.6% 41.30% 2

NAV & Total Return History

IGWAX - Holdings

Filings data as of: Sep 30, 2017

Concentration Analysis

IGWAX Category Low Category High IGWAX % Rank Quintile
Net Assets 159 M 3.66 M 6.38 B 14.75% 2
Number of Holdings 48 38 1562 39.34% 5
Net Assets in Top 10 54.3 M 405 K 250 M 9.84% 2
Weighting of Top 10 33.0% 3.8% 43.5% 9.84% 2

Top 10 Holdings

  1. Nautilus Inc 2.82%
  2. 8x8 Inc 4.01%
  3. Aerie Pharmaceuticals Inc 4.14%
  4. Q2 Holdings Inc 2.84%
  5. Toyota Mtr Cr FRN 3.11%
  6. Mimecast Ltd 3.78%
  7. K2M Group Holdings Inc 2.95%
  8. MYR Group Inc 3.13%
  9. Tactile Systems Technology Inc 3.11%
  10. Mercury Systems Inc 3.10%

Asset Allocation

Weighting Category Low Category High IGWAX % Rank Quintile
Stocks
93.12% 74.74% 100.00% 40.98% 4
Cash
3.78% 0.00% 21.82% 24.59% 2
Bonds
3.11% -0.08% 3.42% 3.28% 1
Preferred Stocks
0.00% 0.00% 3.48% 9.84% 4
Other
0.00% 0.00% 5.38% 19.67% 4
Convertible Bonds
0.00% 0.00% 0.02% 3.28% 4

Stock Sector Breakdown

Weighting Category Low Category High IGWAX % Rank Quintile
Technology
31.81% 6.04% 51.27% 6.56% 1
Healthcare
24.18% 1.26% 30.21% 6.56% 2
Consumer Cyclical
10.79% 5.54% 42.26% 50.82% 5
Energy
6.32% 0.00% 10.66% 4.92% 1
Communication Services
6.32% 0.00% 6.32% 1.64% 1
Industrials
5.67% 5.67% 28.87% 59.02% 5
Real Estate
2.75% 0.00% 8.78% 22.95% 3
Consumer Defense
2.30% 0.00% 9.92% 39.34% 4
Basic Materials
1.88% 0.00% 11.31% 52.46% 5
Financial Services
1.09% 0.00% 34.45% 57.38% 5
Utilities
0.00% 0.00% 6.35% 18.03% 4

Stock Geographic Breakdown

Weighting Category Low Category High IGWAX % Rank Quintile
US
88.94% 65.52% 99.11% 44.26% 4
Non US
4.18% 0.00% 23.41% 16.39% 2

Bond Sector Breakdown

Weighting Category Low Category High IGWAX % Rank Quintile
Corporate
3.64% 0.00% 6.90% 3.28% 1
Derivative
0.00% 0.00% 0.00% 1.64% 4
Cash & Equivalents
0.00% 0.00% 21.82% 54.10% 5
Securitized
0.00% 0.00% 0.64% 4.92% 4
Municipal
0.00% 0.00% 0.00% 1.64% 4
Government
0.00% 0.00% 0.63% 3.28% 4

Bond Geographic Breakdown

Weighting Category Low Category High IGWAX % Rank Quintile
US
3.11% -0.08% 3.11% 1.64% 1
Non US
0.00% 0.00% 0.82% 3.28% 4

IGWAX - Expenses

Operational Fees

IGWAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.68% 0.52% 6.72% 52.46% 2
Management Fee 0.95% 0.50% 1.50% 9.84% 2
12b-1 Fee 0.25% 0.00% 1.00% 10.53% 4
Administrative Fee 0.01% 0.01% 0.40% 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% 4
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 32.00% 8.82% 180.00% 36.21% 2

IGWAX - Distributions

Dividend Yield Analysis

IGWAX Category Low Category High IGWAX % Rank Quintile
Dividend Yield 0.0% 0.01% 0.63% 61.54% 4

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 -1.36% -2.70% 0.75% 67.21% 5

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

2.5

Tenure Rank

34.7%

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

0.1

Category High

23.5

Category Average

6.22

Category Mode

3.0