Delaware Global Listed Real Assets Fund
Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.5%
1 yr return
1.4%
3 Yr Avg Return
2.5%
5 Yr Avg Return
6.0%
Net Assets
$108 M
Holdings in Top 10
14.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.16%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 60.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DPRSX - Profile
Distributions
- YTD Total Return -2.5%
- 3 Yr Annualized Total Return 2.5%
- 5 Yr Annualized Total Return 6.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.78%
- Dividend Yield 5.4%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDelaware Global Listed Real Assets Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateDec 08, 1997
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJurgen Wurzer
Fund Description
The Fund seeks to achieve its investment objective by investing in listed real assets securities, which include the following categories:
•Real Estate Securities (such as real estate investment trusts (REITs), real estate operating companies (REOCs), mortgage-backed securities);
•Infrastructure Securities (including master limited partnerships (MLPs));
•Natural Resources Securities; and
•Inflation-Linked Securities (collectively, “Real Assets Securities”).
See the section of the Prospectus entitled “Our principal investment strategies” for a description of Real Estate Securities, Infrastructure Securities, Natural Resources Securities, and Inflation-Linked Securities.
Under normal market conditions, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in Real Assets Securities (80% policy). The Fund will invest at least 30% of its net assets in foreign securities, including emerging markets issuers. The Fund may purchase both equity and fixed income securities. The Fund may invest in securities of companies or issuers of any size market capitalization.
The Fund will allocate strategy assets across multiple sleeves that will invest in liquid, listed real assets securities that are both tangible and intangible. Sleeves include global listed infrastructure which consists of listed infrastructure equity securities, global real estate which consists of listed real estate securities including REITs, global natural resources which consists of listed natural resource equity securities, global inflation-linked fixed income which consists of Treasury inflation-protected securities (TIPS) and developed market inflation-linked fixed income securities, and real assets fixed income which consist of high yield and securitized fixed income securities.
The Fund invests in natural resources including precious metals, among other resources. In addition to derivatives, the Fund may gain exposure to precious metals through equity securities of precious metals companies as well as exchange-traded funds (ETFs).
The Fund may invest in commercial mortgage-backed securities, non-agency residential mortgages, and select asset-backed securities. Such securities and mortgages are anticipated to be investment grade.
Within the fixed income securities in which the Fund invests, the structured products will typically have an average credit rating of BBB- and an average duration of seven years. The Fund may also invest in high yield (junk) bonds. The corporate bond securities will typically be below investment grade with an average duration of approximately five years.
The Fund may employ leverage, such as by entering into reverse repurchase transactions, to attempt to take advantage of or increase the total return of attractive investment opportunities.
The Fund may invest in securities of foreign companies or governments or supranational entities to achieve its investment objectives.
The Fund will invest no more than 15% of the portfolio’s holdings in MLPs. The MLPs in which the Fund invests will not include general partnership interests.
Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), the Fund's sub-advisor, and the Manager use a dynamic asset-allocation framework to determine the proportion of the Fund’s assets that will be allocated to the various asset classes noted above, based on the market assessment and portfolio risk contribution for such asset classes. The framework is intended to reduce riskier assets in times of market volatility and provide additional downside protection. In connection with their dynamic asset-allocation framework, MIMAK and the Manager will also manage a tactical / completion sleeve and such sleeve will typically vary from 0% to 20% of the Fund’s total assets and primarily hold derivatives and ETFs. If applicable, the derivatives and ETFs within the tactical / completion sleeve will also be counted towards the asset classes noted above.
The Fund may use a wide range of derivatives instruments, typically including forward foreign currency contracts, options, futures contracts, options on futures contracts, and credit default swaps. The Fund will use derivatives for both hedging and non-hedging purposes; as a substitute for purchasing or selling securities; and to manage the Fund’s portfolio characteristics. For example, the Fund may invest in: futures and options to manage duration and for
defensive purposes, such as to protect gains or hedge against potential losses in the portfolio without actually selling a security, or to stay fully invested; forward foreign currency contracts to manage foreign currency exposure; and credit default swaps to hedge against a credit event, to gain exposure to certain securities or markets, or to enhance total return.
In addition, MIMAK and the Manager may seek investment advice and recommendations relating to fixed income securities from their affiliates: Macquarie Investment Management Europe Limited (MIMEL) and Macquarie Investment Management Global Limited (MIMGL). The Manager may also permit MIMGL to execute Fund equity security trades on behalf of the Manager. The Manager may also permit MIMEL and MIMGL to exercise investment discretion and perform trading for fixed income securities, as applicable, in certain markets where the Manager believes it will be beneficial to utilize MIMEL’s or MIMGL’s specialized market knowledge, and the Manager may also seek quantitative support from MIMGL. MIMEL and MIMGL are also responsible for managing real estate investment trust securities and other equity asset classes to which the portfolio managers may allocate assets from time to time.
The Fund’s 80% policy is nonfundamental and may be changed without shareholder approval. However, Fund shareholders would be given at least 60 days’ notice prior to any such change.
DPRSX - Performance
Return Ranking - Trailing
Period | DPRSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.5% | -23.7% | 16.4% | 17.17% |
1 Yr | 1.4% | -8.9% | 48.3% | 12.45% |
3 Yr | 2.5%* | -2.2% | 16.4% | 3.34% |
5 Yr | 6.0%* | -0.7% | 13.4% | 7.01% |
10 Yr | 6.1%* | 0.9% | 11.8% | 2.51% |
* Annualized
Return Ranking - Calendar
Period | DPRSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.1% | -40.8% | 20.6% | 12.20% |
2022 | -18.5% | -21.0% | 24.5% | 73.58% |
2021 | 12.5% | -24.2% | 27.8% | 0.93% |
2020 | -0.7% | -23.1% | 11.7% | 28.86% |
2019 | 25.8% | -100.0% | 20.6% | 98.64% |
Total Return Ranking - Trailing
Period | DPRSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.5% | -23.7% | 16.4% | 16.95% |
1 Yr | 1.4% | -12.8% | 48.3% | 11.86% |
3 Yr | 2.5%* | -3.4% | 16.4% | 2.84% |
5 Yr | 6.0%* | -1.1% | 13.4% | 5.95% |
10 Yr | 6.1%* | 0.9% | 11.8% | 2.21% |
* Annualized
Total Return Ranking - Calendar
Period | DPRSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.2% | -40.8% | 20.6% | 12.20% |
2022 | -6.7% | -21.0% | 24.5% | 73.58% |
2021 | 19.5% | -24.2% | 27.8% | 0.93% |
2020 | 1.0% | -23.1% | 11.7% | 29.28% |
2019 | 30.7% | -2.9% | 23.1% | 97.55% |
NAV & Total Return History
DPRSX - Holdings
Concentration Analysis
DPRSX | Category Low | Category High | DPRSX % Rank | |
---|---|---|---|---|
Net Assets | 108 M | 1.12 M | 110 B | 76.67% |
Number of Holdings | 282 | 2 | 10961 | 44.68% |
Net Assets in Top 10 | 16.2 M | -31.7 M | 22 B | 83.92% |
Weighting of Top 10 | 14.77% | 10.8% | 100.0% | 95.12% |
Top 10 Holdings
- United States Treasury Inflation Indexed Bonds 2.90%
- Equinix Inc 1.69%
- United States Treasury Inflation Indexed Bonds 1.63%
- Welltower Inc 1.51%
- Prologis Inc 1.38%
- Cellnex Telecom SA 1.27%
- Deutsche Bundesrepublik Inflation Linked Bond 1.13%
- French Republic Government Bond OAT 1.12%
- United States Treasury Inflation Indexed Bonds 1.09%
- Shell PLC 1.05%
Asset Allocation
Weighting | Return Low | Return High | DPRSX % Rank | |
---|---|---|---|---|
Stocks | 61.69% | -45.72% | 98.42% | 37.79% |
Bonds | 36.17% | -39.76% | 93.84% | 37.37% |
Cash | 2.13% | -97.12% | 185.58% | 65.97% |
Convertible Bonds | 0.13% | 0.00% | 25.49% | 64.09% |
Other | 0.01% | -1.25% | 197.12% | 50.10% |
Preferred Stocks | 0.00% | -0.03% | 14.00% | 91.02% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DPRSX % Rank | |
---|---|---|---|---|
Real Estate | 30.43% | 0.00% | 90.14% | 10.19% |
Utilities | 19.28% | 0.00% | 40.29% | 5.94% |
Energy | 18.03% | 0.00% | 38.61% | 12.74% |
Industrials | 17.38% | 0.09% | 32.39% | 2.97% |
Basic Materials | 10.71% | 0.00% | 60.23% | 9.34% |
Consumer Defense | 2.18% | 0.00% | 31.85% | 85.99% |
Communication Services | 1.56% | 0.00% | 28.59% | 98.30% |
Technology | 0.31% | 0.00% | 39.48% | 93.21% |
Financial Services | 0.13% | 0.00% | 30.34% | 91.93% |
Healthcare | 0.00% | 0.00% | 30.30% | 96.18% |
Consumer Cyclical | 0.00% | 0.00% | 20.84% | 99.36% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DPRSX % Rank | |
---|---|---|---|---|
US | 31.02% | -4.82% | 95.75% | 56.78% |
Non US | 30.67% | -46.69% | 57.06% | 14.82% |
Bond Sector Breakdown
Weighting | Return Low | Return High | DPRSX % Rank | |
---|---|---|---|---|
Government | 32.85% | 0.00% | 98.64% | 40.92% |
Corporate | 28.53% | 0.00% | 99.90% | 49.48% |
Securitized | 3.74% | 0.00% | 83.28% | 54.28% |
Cash & Equivalents | 1.41% | 0.10% | 100.00% | 79.54% |
Derivative | 0.01% | 0.00% | 41.88% | 3.76% |
Municipal | 0.00% | 0.00% | 31.28% | 84.55% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | DPRSX % Rank | |
---|---|---|---|---|
US | 24.34% | -177.12% | 87.76% | 40.08% |
Non US | 11.83% | -39.00% | 137.36% | 28.60% |
DPRSX - Expenses
Operational Fees
DPRSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.16% | 0.16% | 2.71% | 52.82% |
Management Fee | 0.75% | 0.00% | 1.70% | 73.02% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
DPRSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
DPRSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
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.
DPRSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 60.00% | 0.00% | 441.00% | 52.15% |
DPRSX - Distributions
Dividend Yield Analysis
DPRSX | Category Low | Category High | DPRSX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.39% | 0.00% | 10.92% | 17.26% |
Dividend Distribution Analysis
DPRSX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
DPRSX | Category Low | Category High | DPRSX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.78% | -5.20% | 6.33% | 39.65% |
Capital Gain Distribution Analysis
DPRSX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 25, 2024 | $0.161 | OrdinaryDividend |
Dec 18, 2023 | $0.105 | OrdinaryDividend |
Jun 22, 2023 | $0.055 | OrdinaryDividend |
Mar 22, 2023 | $0.080 | OrdinaryDividend |
Dec 16, 2022 | $1.390 | OrdinaryDividend |
Sep 23, 2022 | $0.123 | OrdinaryDividend |
Jun 23, 2022 | $0.119 | OrdinaryDividend |
Mar 23, 2022 | $0.071 | OrdinaryDividend |
Sep 23, 2021 | $0.077 | OrdinaryDividend |
Jun 23, 2021 | $0.073 | OrdinaryDividend |
Mar 23, 2021 | $0.043 | OrdinaryDividend |
Dec 18, 2020 | $0.048 | OrdinaryDividend |
Sep 22, 2020 | $0.044 | OrdinaryDividend |
Jun 22, 2020 | $0.072 | OrdinaryDividend |
Mar 20, 2020 | $0.045 | OrdinaryDividend |
Dec 20, 2019 | $0.318 | OrdinaryDividend |
Sep 23, 2019 | $0.037 | OrdinaryDividend |
Jun 24, 2019 | $0.066 | OrdinaryDividend |
Mar 25, 2019 | $0.071 | OrdinaryDividend |
Dec 24, 2018 | $0.053 | OrdinaryDividend |
Sep 24, 2018 | $0.086 | OrdinaryDividend |
Jun 25, 2018 | $0.076 | OrdinaryDividend |
Mar 23, 2018 | $0.073 | OrdinaryDividend |
Sep 25, 2017 | $0.065 | OrdinaryDividend |
Jun 23, 2017 | $0.063 | OrdinaryDividend |
Mar 23, 2017 | $0.056 | OrdinaryDividend |
Sep 23, 2016 | $0.054 | OrdinaryDividend |
Jun 23, 2016 | $0.081 | OrdinaryDividend |
Mar 23, 2016 | $0.077 | OrdinaryDividend |
Sep 23, 2015 | $0.073 | OrdinaryDividend |
Jun 23, 2015 | $0.064 | OrdinaryDividend |
Mar 23, 2015 | $0.054 | OrdinaryDividend |
Sep 23, 2014 | $0.080 | OrdinaryDividend |
Jun 23, 2014 | $0.079 | OrdinaryDividend |
Mar 24, 2014 | $0.074 | OrdinaryDividend |
Sep 23, 2013 | $0.077 | OrdinaryDividend |
Jun 24, 2013 | $0.075 | OrdinaryDividend |
Mar 25, 2013 | $0.065 | OrdinaryDividend |
Dec 24, 2012 | $0.050 | OrdinaryDividend |
Sep 24, 2012 | $0.066 | OrdinaryDividend |
Jun 25, 2012 | $0.069 | OrdinaryDividend |
Mar 23, 2012 | $0.062 | OrdinaryDividend |
Dec 23, 2011 | $0.048 | OrdinaryDividend |
Sep 23, 2011 | $0.057 | OrdinaryDividend |
Jun 27, 2011 | $0.053 | OrdinaryDividend |
Mar 25, 2011 | $0.055 | OrdinaryDividend |
Dec 28, 2010 | $0.036 | OrdinaryDividend |
Sep 27, 2010 | $0.054 | OrdinaryDividend |
Jun 25, 2010 | $0.053 | OrdinaryDividend |
Mar 25, 2010 | $0.057 | OrdinaryDividend |
Dec 28, 2009 | $0.044 | OrdinaryDividend |
Sep 25, 2009 | $0.062 | OrdinaryDividend |
Jun 25, 2009 | $0.078 | OrdinaryDividend |
Mar 25, 2009 | $0.086 | OrdinaryDividend |
Dec 26, 2008 | $0.072 | OrdinaryDividend |
Sep 25, 2008 | $0.093 | OrdinaryDividend |
Jun 25, 2008 | $0.091 | OrdinaryDividend |
Mar 26, 2008 | $0.082 | OrdinaryDividend |
Dec 27, 2007 | $0.104 | OrdinaryDividend |
Sep 26, 2007 | $0.107 | OrdinaryDividend |
Jun 27, 2007 | $0.107 | OrdinaryDividend |
Mar 27, 2007 | $0.107 | OrdinaryDividend |
Dec 27, 2006 | $0.110 | OrdinaryDividend |
Sep 27, 2006 | $0.108 | OrdinaryDividend |
Jun 27, 2006 | $0.108 | OrdinaryDividend |
Mar 27, 2006 | $0.108 | OrdinaryDividend |
Sep 27, 2005 | $0.117 | OrdinaryDividend |
Jun 27, 2005 | $0.117 | OrdinaryDividend |
Mar 25, 2005 | $0.117 | OrdinaryDividend |
Dec 27, 2004 | $0.127 | OrdinaryDividend |
Sep 27, 2004 | $0.134 | OrdinaryDividend |
Jun 25, 2004 | $0.134 | OrdinaryDividend |
Mar 25, 2004 | $0.134 | OrdinaryDividend |
Dec 26, 2003 | $0.311 | OrdinaryDividend |
Sep 25, 2003 | $0.129 | OrdinaryDividend |
Jun 25, 2003 | $0.129 | OrdinaryDividend |
Mar 26, 2003 | $0.129 | OrdinaryDividend |
Dec 26, 2002 | $0.217 | OrdinaryDividend |
Sep 25, 2002 | $0.129 | OrdinaryDividend |
Jun 26, 2002 | $0.129 | OrdinaryDividend |
Mar 27, 2002 | $0.129 | OrdinaryDividend |
Dec 27, 2001 | $0.247 | OrdinaryDividend |
Sep 26, 2001 | $0.128 | OrdinaryDividend |
Jun 27, 2001 | $0.128 | OrdinaryDividend |
Mar 27, 2001 | $0.128 | OrdinaryDividend |
Dec 28, 2000 | $0.210 | OrdinaryDividend |
Sep 27, 2000 | $0.128 | OrdinaryDividend |
Jun 27, 2000 | $0.128 | OrdinaryDividend |
Mar 27, 2000 | $0.128 | OrdinaryDividend |
Dec 28, 1999 | $0.220 | OrdinaryDividend |
Sep 27, 1999 | $0.128 | OrdinaryDividend |
Jun 25, 1999 | $0.115 | OrdinaryDividend |
Mar 29, 1999 | $0.115 | OrdinaryDividend |
Dec 30, 1998 | $0.385 | OrdinaryDividend |
Sep 29, 1998 | $0.100 | OrdinaryDividend |
Jun 29, 1998 | $0.100 | OrdinaryDividend |
Mar 27, 1998 | $0.100 | OrdinaryDividend |
DPRSX - Fund Manager Analysis
Managers
Jurgen Wurzer
Start Date
Tenure
Tenure Rank
Aug 20, 2019
2.78
2.8%
Jürgen Wurzer rejoined Macquarie Investment Management Austria Kapitalanlage AG (MIMAK) in April 2018 as deputy head of portfolio management for the firm’s global multi asset team based in Vienna. Prior to that, he worked at Erste Asset Management as a senior fund manager on the multi asset management team, where he worked from September 2016 to March 2018. Wurzer previously worked at MIMAK from January 2007 to August 2016, leaving the firm as senior investment manager on the global multi asset team. He graduated from University of Applied Sciences Wiener Neustadt with a master’s degree. Wurzer is a lecturer for asset allocation, quantitative finance, portfolio, and risk management at several educational institutions.
Stefan Löwenthal
Start Date
Tenure
Tenure Rank
Aug 20, 2019
2.78
2.8%
Stefan Löwenthal is the chief investment officer for Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), a role he assumed in February 2013. He heads the global multi asset team based in Vienna, which is responsible for all asset allocation and security selection decisions, the management of mutual funds, as well as the development of new investment strategies. In addition, Löwenthal oversees the investment policy committee, which is responsible for strategic investment decisions at MIMAK. He began his career with Macquarie in February 2008 as a portfolio manager. He holds a Master of Management Science from Vienna University of Economics and Business. Löwenthal is a lecturer for economics at the IMC University of applied sciences in Krems (Austria) and the Qiongzhou University in Sanya (China).
Aaron Young
Start Date
Tenure
Tenure Rank
May 20, 2022
0.03
0.0%
Mr. Young is Vice President of IICO and WRIMCO and Vice President of the Trust. He joined IICO in 2005 as a fixed-income analyst with an emphasis in credit research and derivative securities. Mr. Young joined the Asset Strategy team as an investment analyst in 2007. He has served as an assistant portfolio manager of investment companies managed by IICO and WRIMCO since 2012. Mr. Young earned a BA in Philosophy from the University of Missouri and holds an MBA with an emphasis in Finance and Strategy from the Olin School of Business at Washington University
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 30.27 | 6.52 | 9.25 |