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Name

As of 06/10/2022

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

InvestEd 40 Portfolio

WICAX | Fund

$9.42

$47.4 M

2.99%

$0.28

0.83%

Vitals

YTD Return

-19.4%

1 yr return

-7.4%

3 Yr Avg Return

4.6%

5 Yr Avg Return

4.4%

Net Assets

$47.4 M

Holdings in Top 10

82.8%

52 WEEK LOW AND HIGH

$9.4
$9.42
$12.86

Expenses

OPERATING FEES

Expense Ratio 0.83%

SALES FEES

Front Load 2.50%

Deferred Load N/A

TRADING FEES

Turnover 29.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/10/2022

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

InvestEd 40 Portfolio

WICAX | Fund

$9.42

$47.4 M

2.99%

$0.28

0.83%

WICAX - Profile

Distributions

  • YTD Total Return -19.4%
  • 3 Yr Annualized Total Return 3.7%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.94%
DIVIDENDS
  • Dividend Yield 3.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    InvestEd 40 Portfolio
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Oct 01, 2001
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Aaron Young

Fund Description

The InvestEd 40 Portfolio is structured as a “fund-of-funds,” which means that it seeks to achieve its investment objective by investing its assets, under normal circumstances, in a combination of other mutual funds and exchange-traded funds (collectively, the Underlying Funds), rather than investing directly in stocks, bonds and other instruments. The Portfolio primarily will invest in mutual funds within the Delaware Funds Complex, for which the Manager serves as investment adviser (“affiliated” funds). However, the Portfolio also may purchase shares of funds not affiliated with the Delaware Funds Complex (“unaffiliated” funds). The unaffiliated Underlying Funds are exchange-traded funds (ETFs) that are passively managed and seek to track the performance of their designated benchmark indices. The Portfolio typically will invest in Class R6 shares of the affiliated Underlying Funds.

The Portfolio divides its assets between two types of investments: (i) Underlying Funds that invest primarily in fixed income securities (Underlying Fixed Income Funds) and (ii) Underlying Funds that invest primarily in equity securities (Underlying Equity Funds). Under normal circumstances, the Portfolio targets an allocation of approximately 60% of its assets to the Underlying Fixed Income Funds and the remaining 40% of its assets to the Underlying Equity Funds. While the Portfolio seeks to maintain this approximate 60%/40% allocation ratio, from time to time such percentages may vary as much as 10% from those designated targets (i.e., the Portfolio’s fixed income allocations may range from 50% to 70%, and its equity allocations may range from 50% to 30%).

The Portfolio invests in the Underlying Funds to gain exposure to a diversified mixture of investment categories within the equity and fixed income asset classes. The equity investment categories include US and international (including emerging market) equity securities of large cap, mid cap and small cap companies (including growth and value styles). The fixed income investment categories include US and foreign investment grade and non-investment grade corporate bonds, securities issued or guaranteed by the US government or its agencies or instrumentalities (US government securities), and securities issued by foreign governments and securities denominated in currencies other than the US dollar. Certain of the Underlying Funds may, but are not required to, invest in options, futures contracts and other derivative instruments.

The Portfolio’s holdings are determined pursuant to a two-stage asset allocation process. First, within the 60%/40% asset class buckets, the Manager undertakes a strategic analysis to determine what percentage of the Portfolio’s assets to allocate to different investment categories (i.e., US equity securities, international equity securities, investment grade bonds, non-investment grade bonds and short-term bonds) for each such bucket, based on the risk/return potential of the different investment categories and the risk profile of the Portfolio. Second, the Manager selects Underlying Funds that represent those investment categories based on the Underlying Funds’ classifications, historical risk and performance, among other factors. The Manager seeks to diversify the Portfolio’s allocation to equities by geography, market capitalization and investment style. The Manager seeks to diversify the Portfolio’s allocation to fixed income securities by interest rate and credit exposure.

The following chart sets forth the target range of the Portfolio’s asset allocation by asset class, investment category and Underlying Fund.

Asset Class

Investment Category

Underlying Fund

Target Allocation Range*

Equity

 

30%-50%

US Equity

 

15%-35%

 

 

iShares Core S&P 500 ETF+

0%-25%

 

 

Delaware Ivy Core Equity Fund

0%-25%

 

 

Delaware Ivy Large Cap Growth Fund

0%-25%

 

 

Delaware Ivy S&P 500 Dividend Aristocrats Index Fund

0%-25%

 

 

Delaware Ivy Value Fund

0%-25%

 

 

Delaware Ivy Mid Cap Growth Fund

0%-10%

 

 

Delaware Ivy Mid Cap Income Opportunities Fund

0%-10%

Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund

0%-10%

 

 

Delaware Ivy Smid Cap Core Fund

0%-10%

 

 

Delaware Ivy Small Cap Growth Fund

0%-10%

Global/International Equity

 

5%-25%

 

 

iShares Core MSCI EAFE ETF+

0%-20%

Asset Class

Investment Category

Underlying Fund

Target Allocation Range*

 

 

Delaware Ivy Global Growth Fund

0%-20%

 

 

Delaware Ivy International Core Equity Fund

0%-20%

 

 

Delaware Ivy International Value Fund

0%-20%

 

 

Delaware Ivy International Small Cap Fund

0%-10%

 

 

Delaware Ivy Systematic Emerging Markets Equity Fund

0%-10%

 

 

Delaware Ivy LaSalle Global Real Estate Fund

0%-10%

Fixed Income

 

50%-70%

Investment Grade Bond

 

25%-70%

 

 

Delaware Ivy Government Securities Fund

0%-35%

 

 

Delaware Ivy Securian Core Bond Fund

0%-35%

 

 

Delaware Ivy Corporate Bond Fund

0%-35%

 

 

Delaware Ivy Crossover Credit Fund

0%-20%

Non-Investment Grade Bond

 

0%-20%

 

 

Delaware Ivy Strategic Income Fund

0%-20%

 

 

Delaware Ivy Global Bond Fund

0%-20%

 

 

Delaware Ivy High Income Fund

0%-20%

Short-Term Bond

 

0%-45%

 

 

Delaware Ivy Government Money Market Fund

0%-25%

 

 

Delaware Ivy Limited-Term Bond Fund

0%-25%

* Under normal market conditions.

+ iShares® is a registered trademark of BlackRock (BlackRock, Inc. and its subsidiaries). Neither BlackRock nor the iShares® Funds make any representations regarding the advisability of investing in the InvestEd 40 Portfolio.

The Manager monitors the Portfolio’s holdings and cash flow and, in general, manages them as needed to adhere to the Portfolio’s target ranges. However, from time to time, the Manager or market movements (or a combination of both) may cause the Portfolio’s investment in any asset class or Underlying Fund to move outside its target range. In addition, the Portfolio is typically rebalanced quarterly (but may be rebalanced more or less frequently, as necessary) and will usually vary from its 40% equity target between rebalancing transactions.

The Manager does not intend to trade actively among the Underlying Funds, nor does it intend to attempt to capture short-term market opportunities. However, in seeking to enhance performance, the Manager may change allocations within the stated ranges. The Manager also may, from time to time, modify the above-specified target asset and investment category allocations, as well as the Underlying Funds selected for the Portfolio.

By allocating approximately 60% of its assets to fixed income securities via investments in the Underlying Fixed Income Funds, the Portfolio is susceptible to moderate short-term market fluctuations, and thus is most appropriate for investors with an average tolerance for risk and a medium-term investment horizon, and who do not expect to incur expenses for higher education for at least five years.

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WICAX - Performance

Return Ranking - Trailing

Period WICAX Return Category Return Low Category Return High Rank in Category (%)
YTD -19.4% -31.2% 14.9% 97.95%
1 Yr -7.4% -15.9% 45.2% 79.89%
3 Yr 4.6%* -1.9% 16.2% 62.73%
5 Yr 4.4%* -0.1% 13.4% 52.25%
10 Yr 4.8%* 2.3% 8.1% 74.17%

* Annualized

Return Ranking - Calendar

Period WICAX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.8% -43.0% 14.6% 86.67%
2022 4.7% -10.3% 40.7% 54.35%
2021 11.6% -9.5% 22.1% 24.14%
2020 -4.6% -21.7% -3.5% 1.02%
2019 5.1% -4.7% 13.7% 62.93%

Total Return Ranking - Trailing

Period WICAX Return Category Return Low Category Return High Rank in Category (%)
YTD -19.4% -31.2% 14.9% 97.95%
1 Yr -9.8% -15.9% 51.9% 89.57%
3 Yr 3.7%* -4.2% 16.2% 74.66%
5 Yr 3.9%* -0.5% 13.4% 66.94%
10 Yr 4.5%* 2.3% 8.1% 77.49%

* Annualized

Total Return Ranking - Calendar

Period WICAX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.8% -43.0% 31.5% 86.67%
2022 4.7% -10.3% 40.7% 54.35%
2021 11.6% -9.5% 22.1% 27.09%
2020 -4.6% -21.7% -2.0% 31.55%
2019 5.1% -4.7% 16.6% 86.67%

NAV & Total Return History


WICAX - Holdings

Concentration Analysis

WICAX Category Low Category High WICAX % Rank
Net Assets 47.4 M 130 K 62.8 B 90.43%
Number of Holdings 22 3 25236 64.35%
Net Assets in Top 10 42.7 M 2.59 K 11 B 67.06%
Weighting of Top 10 82.76% 6.3% 100.0% 24.44%

Top 10 Holdings

  1. Delaware Ivy Government Securities R6 25.02%
  2. Delaware Ivy Limited-Term Bond R6 13.51%
  3. Delaware Ivy Securian Core Bond R6 11.31%
  4. Ivy ProShares MSCI ACWI Index N 6.71%
  5. Delaware Ivy Core Equity Fund Class R6 6.00%
  6. Delaware Ivy Large Cap Growth Fund R6 5.51%
  7. iShares Core S&P 500 ETF 5.26%
  8. Delaware Ivy Corporate Bond Fund R6 5.04%
  9. Delaware Ivy International Core Eq R6 4.32%
  10. Delaware Ivy Systematic Em Mkts Eq R6 3.45%

Asset Allocation

Weighting Return Low Return High WICAX % Rank
Bonds
56.90% 0.00% 94.75% 32.71%
Stocks
39.50% 0.00% 81.89% 45.76%
Cash
3.21% -35.68% 69.40% 59.93%
Convertible Bonds
0.28% 0.00% 71.77% 88.96%
Preferred Stocks
0.09% -0.97% 39.31% 65.87%
Other
0.03% -9.78% 21.77% 52.46%

Stock Sector Breakdown

Weighting Return Low Return High WICAX % Rank
Technology
21.25% 0.00% 30.37% 13.18%
Financial Services
14.95% 0.00% 83.50% 42.47%
Healthcare
11.95% 0.00% 34.71% 69.18%
Consumer Cyclical
11.74% 0.00% 33.09% 13.01%
Industrials
11.56% 0.00% 32.22% 27.74%
Consumer Defense
7.80% 0.00% 51.19% 33.56%
Communication Services
7.39% 0.00% 22.07% 35.96%
Real Estate
4.27% 0.00% 99.41% 54.45%
Energy
3.60% 0.00% 62.93% 76.03%
Basic Materials
3.53% 0.00% 32.82% 72.43%
Utilities
1.96% 0.00% 48.33% 91.78%

Stock Geographic Breakdown

Weighting Return Low Return High WICAX % Rank
US
26.33% 0.00% 75.58% 55.86%
Non US
13.17% -0.01% 25.18% 20.20%

Bond Sector Breakdown

Weighting Return Low Return High WICAX % Rank
Government
34.96% 0.00% 94.29% 28.35%
Corporate
34.01% 0.00% 98.28% 53.31%
Securitized
24.89% 0.00% 52.08% 21.05%
Cash & Equivalents
5.29% 0.15% 71.66% 74.87%
Municipal
0.51% 0.00% 99.85% 39.73%
Derivative
0.34% 0.00% 27.44% 44.99%

Bond Geographic Breakdown

Weighting Return Low Return High WICAX % Rank
US
52.99% 0.00% 83.14% 18.17%
Non US
3.91% 0.00% 31.27% 85.06%

WICAX - Expenses

Operational Fees

WICAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.83% 0.03% 3.70% 61.18%
Management Fee 0.00% 0.00% 1.25% 1.31%
12b-1 Fee 0.25% 0.00% 1.00% 21.29%
Administrative Fee N/A 0.01% 0.70% 70.77%

Sales Fees

WICAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.50% 0.00% 5.75% 33.65%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

WICAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

WICAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 29.00% 2.00% 380.00% 43.68%

WICAX - Distributions

Dividend Yield Analysis

WICAX Category Low Category High WICAX % Rank
Dividend Yield 2.99% 0.00% 6.85% 84.32%

Dividend Distribution Analysis

WICAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Monthly

Net Income Ratio Analysis

WICAX Category Low Category High WICAX % Rank
Net Income Ratio 1.94% -1.22% 6.83% 41.15%

Capital Gain Distribution Analysis

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

Distributions History

View More +

WICAX - Fund Manager Analysis

Managers

Aaron Young


Start Date

Tenure

Tenure Rank

Oct 01, 2016

5.67

5.7%

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

Jurgen Wurzer


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

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

Nov 15, 2021

0.54

0.5%

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).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.73 6.38 2.41