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Trending ETFs

Name

As of 06/19/2020

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.10

$14.6 M

0.00%

-

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$14.6 M

Holdings in Top 10

41.2%

52 WEEK LOW AND HIGH

$11.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio N/A

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 06/19/2020

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.10

$14.6 M

0.00%

-

ICKEX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency N/A

Fund Details

  • Legal Name
    Ivy Crossover Credit Fund
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Apr 03, 2017
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

Delaware Ivy Crossover Credit Fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in bonds (for this purpose, “bonds” includes any debt security with an initial maturity greater than one year).

The Fund invests primarily in corporate debt fixed-income securities, which can include both investment grade and non-investment grade rated bonds. Investment grade bonds include bonds rated BBB- or higher by S&P Global Ratings, a division of S&P Global Inc. (S&P), or comparably rated by another nationally recognized statistical rating organization (NRSRO) or, if unrated, determined by the Manager to be of comparable quality. By contrast, non-investment grade debt securities, commonly called “high yield” or “junk” bonds, include bonds rated BB+ or lower by S&P, or comparably rated by another NRSRO or, if unrated, determined by the Manager to be of comparable quality.

“Crossover” debt generally refers to bonds rated at or near the point where the lower end of investment grade debt and the higher end of high yield debt meet. Such bonds are on the verge of losing or regaining investment-grade status (i.e., they are on the verge of “crossing over,” falling to junk status or rising to investment grade status). In addition, crossover bonds include those that have been rated below investment grade since issuance, but may be close to achieving investment grade status (i.e., so-called “rising stars”), or those that at one time were considered to be investment grade and now are categorized as “junk” bonds due to a reduction in the issuer’s credit rating (i.e., so-called “fallen angels”). Depending on the current Fund composition and market conditions, the Manager expects that a majority of the crossover bonds will be rated either BBB or BB by S&P, or comparably rated by another NRSRO or, if unrated, determined by the Manager to be of comparable quality.

Except as noted above, the Fund has no limitations regarding the maturity, duration or dollar-weighted average of its holdings, may invest in debt securities with varying maturities and can invest in debt securities issued by companies of any size, in a variety of sectors and industries. The Fund will primarily invest in debt securities issued by domestic companies, but also may invest up to 40% of its total assets in debt securities issued by foreign companies, including foreign securities that are denominated in US dollars or foreign currencies. Many of the companies in which the Fund may invest have diverse operations, with products or services in foreign markets. Therefore, the Fund may have indirect exposure to various foreign markets through investments in these companies, even if the Fund is not invested directly in such markets. The Fund typically will not invest more than 35% of its total assets in non-investment grade securities.

In selecting debt securities for the Fund, the Manager looks at a number of factors, including both a top-down (assessing the market environment) and a bottom-up (researching individual issuers) analysis. The top-down analysis looks at broad economic and financial trends in an effort to anticipate their impact on the fixed-income market and seeks to identify certain criteria that contribute to the overall target portfolio characteristics such as duration, spread, ratings and liquidity. The bottom-up analysis seeks to identify securities that the Manager believes have favorable risk/reward characteristics and targets those securities for overweight positioning. From the sector level, the Manager identifies companies that have positive attributes and considers the issuer’s past, present and estimated future: financial strength, cash flow, management, borrowing requirements, balance sheet policy and relative safety. Additional factors considered include leverage, interest coverage, revenue and margin stability, competition and industry trends, as well as relative value and liquidity.

Generally, in determining whether to sell a security, the Manager uses the same type of analysis that it uses in buying securities, including a review of the risk and reward potential for a specific issuer. The Manager also may sell a security if, in the Manager’s opinion, the price of the security has risen to fully reflect the company’s improved creditworthiness. The Manager also may sell a security to take advantage of what it believes are more attractive investment opportunities, to reduce the Fund’s holding in that security or to raise cash.

The Manager may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), Macquarie Investment Management Europe Limited (MIMEL), and Macquarie Investment Management Global Limited (MIMGL) (together, the “Affiliated Sub-Advisors”). The Manager may also permit these Affiliated Sub-Advisors to execute Fund security trades on behalf of the Manager and exercise investment discretion for securities in certain markets where the Manager believes it will be beneficial to utilize an Affiliated Sub-Advisor’s specialized market knowledge.

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ICKEX - Performance

Return Ranking - Trailing

Period ICKEX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -31.9% 954.9% 23.41%
1 Yr N/A -27.2% 945.1% 3.88%
3 Yr N/A* -18.4% 120.9% 9.10%
5 Yr N/A* -9.1% 60.6% N/A
10 Yr N/A* -5.2% 14.4% N/A

* Annualized

Return Ranking - Calendar

Period ICKEX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -5.8% 20.3% 0.90%
2022 N/A -29.6% 4.6% 96.91%
2021 N/A -4.4% 15.8% N/A
2020 12.2% -6.1% 15.0% N/A
2019 -7.4% -11.6% 2.6% N/A

Total Return Ranking - Trailing

Period ICKEX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -31.9% 954.9% 23.41%
1 Yr N/A -27.2% 945.1% 3.78%
3 Yr N/A* -18.4% 120.9% 2.49%
5 Yr N/A* -9.1% 60.6% N/A
10 Yr N/A* -5.2% 16.1% N/A

* Annualized

Total Return Ranking - Calendar

Period ICKEX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -5.8% 20.3% 1.00%
2022 N/A -29.6% 4.6% 87.18%
2021 N/A -4.4% 15.8% N/A
2020 15.6% -6.1% 15.0% N/A
2019 -4.3% -9.9% 3.0% N/A

NAV & Total Return History


ICKEX - Holdings

Concentration Analysis

ICKEX Category Low Category High ICKEX % Rank
Net Assets 14.6 M 619 K 88.4 B 92.50%
Number of Holdings 98 1 10083 89.52%
Net Assets in Top 10 6.54 M -170 M 26.9 B 97.02%
Weighting of Top 10 41.22% 2.6% 100.0% 14.45%

Top 10 Holdings

  1. NVR INC 5.31%
  2. COSTAR GROUP INC 5.16%
  3. GOLDMAN SACHS GROUP INC 4.91%
  4. MICROCHIP TECHNOLOGY INC 4.38%
  5. AUTODESK INC 4.08%
  6. SERVICENOW INC 3.63%
  7. JEFFERIES FIN GROUP INC 3.62%
  8. EXTRA SPACE STORAGE LP 3.59%
  9. FIRST AMERICAN FINANCIAL 3.47%
  10. ROYALTY PHARMA PLC 3.08%

Asset Allocation

Weighting Return Low Return High ICKEX % Rank
Bonds
92.63% 78.92% 188.18% 62.37%
Cash
6.94% -83.41% 19.68% 35.46%
Other
0.44% -9.30% 31.94% 59.63%
Stocks
0.00% -4.99% 21.62% 62.81%
Preferred Stocks
0.00% -0.17% 10.40% 66.60%
Convertible Bonds
0.00% 0.00% 9.45% 34.45%

Bond Sector Breakdown

Weighting Return Low Return High ICKEX % Rank
Cash & Equivalents
6.27% -26.49% 93.17% 44.88%
Derivative
0.00% 0.00% 39.43% 65.02%
Securitized
0.00% 0.00% 97.53% 81.11%
Corporate
0.00% 0.00% 99.00% 0.77%
Municipal
0.00% 0.00% 100.06% 92.02%
Government
0.00% -2.21% 99.96% 83.66%

Bond Geographic Breakdown

Weighting Return Low Return High ICKEX % Rank
US
92.63% 49.78% 163.25% 90.63%
Non US
0.00% -12.10% 39.65% 3.60%

ICKEX - Expenses

Operational Fees

ICKEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A 0.01% 34.57% 22.81%
Management Fee N/A 0.00% 1.60% 89.24%
12b-1 Fee N/A 0.00% 1.00% 49.30%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

ICKEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% 72.35%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

ICKEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

ICKEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 496.90% 73.83%

ICKEX - Distributions

Dividend Yield Analysis

ICKEX Category Low Category High ICKEX % Rank
Dividend Yield 0.00% 0.00% 3.89% 60.74%

Dividend Distribution Analysis

ICKEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly

Net Income Ratio Analysis

ICKEX Category Low Category High ICKEX % Rank
Net Income Ratio N/A -0.81% 5.05% 7.97%

Capital Gain Distribution Analysis

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

Distributions History

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ICKEX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 33.3 6.93 0.17