DGCAX: Delaware Corporate Bond Fund - MutualFunds.com
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DGCAX - Snapshot

Vitals

  • YTD Return -1.2%
  • 3 Yr Annualized Return 8.5%
  • 5 Yr Annualized Return 5.5%
  • Net Assets $1.26 B
  • Holdings in Top 10 11.4%

52 WEEK LOW AND HIGH

$6.48
$6.19
$6.57

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.82%

SALES FEES

  • Front Load 4.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 172.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $250

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Corporate Bond

Compare DGCAX to Popular Corporate Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$96.09

+0.13%

$48.39 B

2.29%

$2.20

-1.04%

0.05%

$31.98

0.00%

$48.39 B

2.48%

$0.79

-1.02%

0.05%

$136.01

+0.08%

$40.23 B

2.41%

$3.28

-1.43%

0.14%

$10.31

+0.19%

$37.26 B

2.31%

$0.24

-1.53%

0.20%

$11.10

+0.09%

$19.23 B

3.02%

$0.33

-1.68%

0.85%

DGCAX - Profile

Distributions

  • YTD Total Return -1.2%
  • 3 Yr Annualized Total Return 6.8%
  • 5 Yr Annualized Total Return 4.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.71%
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Delaware Corporate Bond Fund
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Sep 15, 1998
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Kashif Ishaq

Fund Description

Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in corporate bonds (80% policy). It may also invest up to 20% of its net assets in high yield corporate bonds ("junk bonds"). In addition, the fund may invest up to 40% of its total assets in foreign securities, but the fund's total non-U.S.-dollar currency exposure will be limited, in the aggregate, to no more than 25% of net assets.


DGCAX - Performance

Return Ranking - Trailing

Period DGCAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -82.1% 10.7% 39.90%
1 Yr 5.1% -11.4% 45.4% 38.56%
3 Yr 8.5%* -0.8% 12.2% 10.59%
5 Yr 5.5%* 1.5% 8.3% 16.73%
10 Yr 5.5%* 2.3% 7.8% 25.19%

* Annualized

Return Ranking - Calendar

Period DGCAX Return Category Return Low Category Return High Rank in Category (%)
2020 7.7% -85.3% 10.6% 7.14%
2019 11.9% -44.7% 19.2% 5.19%
2018 -7.6% -52.7% -2.0% 84.62%
2017 3.5% -10.1% 9.5% 8.43%
2016 2.0% -0.7% 35.8% 80.23%

Total Return Ranking - Trailing

Period DGCAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -82.1% 10.7% 38.90%
1 Yr 0.3% -14.1% 42.5% 84.95%
3 Yr 6.8%* -1.8% 12.2% 44.97%
5 Yr 4.5%* 1.1% 8.3% 49.48%
10 Yr 5.0%* 2.3% 7.8% 54.07%

* Annualized

Total Return Ranking - Calendar

Period DGCAX Return Category Return Low Category Return High Rank in Category (%)
2020 7.7% -85.3% 10.6% 7.14%
2019 11.9% -44.7% 19.2% 5.78%
2018 -7.6% -23.2% 92.1% 85.90%
2017 3.5% -10.1% 9.5% 18.88%
2016 2.0% -0.7% 35.8% 81.40%

NAV & Total Return History


DGCAX - Holdings

Concentration Analysis

DGCAX Category Low Category High DGCAX % Rank
Net Assets 1.26 B 7.55 M 48.4 B 36.48%
Number of Holdings 264 1 8263 42.44%
Net Assets in Top 10 144 M -77 M 3.43 B 19.51%
Weighting of Top 10 11.44% 1.4% 100.0% 76.04%

Top 10 Holdings

  1. United States Treasury Notes 0.62% 2.44%
  2. 10 Year Treasury Note Future Dec 20 2.42%
  3. 10 Year Treasury Note Future Dec 20 2.42%
  4. 10 Year Treasury Note Future Dec 20 2.42%
  5. 10 Year Treasury Note Future Dec 20 2.42%
  6. 10 Year Treasury Note Future Dec 20 2.42%
  7. 10 Year Treasury Note Future Dec 20 2.42%
  8. 10 Year Treasury Note Future Dec 20 2.42%
  9. 10 Year Treasury Note Future Dec 20 2.42%
  10. 10 Year Treasury Note Future Dec 20 2.42%

Asset Allocation

Weighting Return Low Return High DGCAX % Rank
Bonds
91.53% 0.00% 144.87% 74.88%
Convertible Bonds
4.70% 0.00% 74.25% 18.54%
Cash
2.95% -51.29% 100.00% 33.17%
Preferred Stocks
0.94% 0.00% 7.99% 7.80%
Stocks
0.00% 0.00% 5.87% 54.88%
Other
-0.13% -38.92% 5.10% 98.78%

Bond Sector Breakdown

Weighting Return Low Return High DGCAX % Rank
Corporate
96.89% 0.00% 100.00% 41.71%
Cash & Equivalents
2.95% 0.00% 100.00% 35.37%
Securitized
0.16% 0.00% 19.30% 40.24%
Derivative
0.00% 0.00% 27.55% 56.10%
Municipal
0.00% 0.00% 2.83% 65.61%
Government
0.00% 0.00% 33.55% 71.71%

Bond Geographic Breakdown

Weighting Return Low Return High DGCAX % Rank
US
74.93% 0.00% 122.90% 69.02%
Non US
16.60% 0.00% 49.17% 35.12%

DGCAX - Expenses

Operational Fees

DGCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.82% 0.03% 3.62% 18.94%
Management Fee 0.48% 0.00% 1.35% 75.64%
12b-1 Fee 0.25% 0.00% 1.00% 40.95%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

DGCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.00% 4.75% 2.08%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

DGCAX 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.

DGCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 172.00% 0.00% 349.00% 80.79%

DGCAX - Distributions

Dividend Yield Analysis

DGCAX Category Low Category High DGCAX % Rank
Dividend Yield 2.68% 0.00% 2.58% 54.63%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

DGCAX Category Low Category High DGCAX % Rank
Net Income Ratio 2.71% -1.57% 7.25% 42.73%

Capital Gain Distribution Analysis

DGCAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History

View More +

DGCAX - Fund Manager Analysis

Managers

Kashif Ishaq


Start Date

Tenure

Tenure Rank

Nov 29, 2013

7.59

7.6%

Kashif Ishaq Managing Director, Head of Credit Trading, Portfolio Manager Kashif Ishaq is global head of corporate bond trading for Macquarie Investment Management Fixed Income (MFI). He plays an integral role in the investment process, managing investment grade corporate bond exposure within MFI’s portfolios and performing relative value analysis across corporate curves and capital structures. He is also responsible for managing all corporate credit traders and maintaining key industry relationships. He started his fixed income career with Macquarie Investment Management as a portfolio analyst on the firm’s insurance portfolio management team before taking a position as an investment grade trader. For the three years prior to joining MIM in August 2005, he participated in Lincoln Financial Group’s rotational Professional Development Program. He started the program as a financial analyst in the Hartford office, followed by a position in information technology, and lastly he spent a year in the client services department of Delaware Investments. Ishaq received his bachelor’s degree in corporate finance and accounting from Bentley College.

Michael Wildstein


Start Date

Tenure

Tenure Rank

Nov 06, 2014

6.65

6.7%

Michael G. Wildstein is a member of fixed income portfolio management team at Delaware Management Company, a series of Macquarie Investment Management Business Trust. Before joining the team, he was a senior corporate bond analyst focused on the telecommunications sector for high-grade and high yield portfolios. Prior to joining Macquarie Investment Management (MIM) in March 2007 as a senior research analyst, Wildstein spent five years at Merrill Lynch Investment Managers in various roles that included portfolio manager for the core bond team, corporate bond research analyst, and corporate bond trader. Before moving into investment management, Wildstein worked in finance, corporate strategy, and business development with several firms including RCN Corporation and AT&T Local Services. He earned a bachelor’s degree from the University of Tampa and an MBA from Drexel University.

Wayne Anglace


Start Date

Tenure

Tenure Rank

Jul 27, 2016

4.93

4.9%

Wayne A. Anglace currently serves as a senior portfolio manager for Macquarie Investment Management's corporate and convertible bond strategies. Prior to joining Macquarie Investment Management (MIM), which includes the former Delaware Investments, in March 2007 as a research analyst for the firm’s high grade, high yield, and convertible bond portfolios, he spent more than two years as a research analyst at Gartmore Global Investments for its convertible bond strategy. From 2000 to 2004, Anglace worked in private client research at Deutsche Bank Alex. Brown in Baltimore, where he focused on equity research, and he started his financial services career with Ashbridge Investment Management in 1999. Prior to moving to the financial industry, Anglace worked as a professional civil engineer. He earned his bachelor’s degree in civil engineering from Villanova University and an MBA with a concentration in finance from Saint Joseph’s University, and he is a member of the CFA Society of Philadelphia.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 23.84 5.65 1.49