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Name

As of 05/03/2024

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

DELAWARE INTERNATIONAL EQUITY FUND

DIVRX | Fund

$13.98

$264 M

0.84%

$0.12

1.58%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$264 M

Holdings in Top 10

33.7%

52 WEEK LOW AND HIGH

$13.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.58%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 38.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 05/03/2024

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

DELAWARE INTERNATIONAL EQUITY FUND

DIVRX | Fund

$13.98

$264 M

0.84%

$0.12

1.58%

DIVRX - 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 Annually
  • Net Income Ratio 0.55%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    DELAWARE INTERNATIONAL EQUITY FUND
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Jul 23, 2003
  • Shares Outstanding
    N/A
  • Share Class
    R
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jens Hansen

Fund Description

The Fund invests primarily in equity securities that provide the potential for capital appreciation. Under normal circumstances, the Fund will invest at least 65% of its total assets in equity securities of issuers that are organized, have a majority of their assets, or generate the majority of their operating income outside the United States. The Fund may invest more than 25% of its total assets in the securities of issuers located in the same country. The Fund’s investment in emerging market companies will not exceed the greater of (a) 35% of the Fund’s net assets or (b) the weight of emerging markets in the Fund’s benchmark index, the MSCI ACWI ex USA Index.

Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities (80% policy). The Fund’s 80% policy is nonfundamental and may be changed without shareholder approval. Fund shareholders would be given at least 60 days’ notice prior to any such change.

The portfolio management team searches for undervalued companies that have potential for improvement that has not yet been recognized by others in the marketplace. These opportunities may exist because of temporary company-specific problems or because the companies are in industries that may be out of favor.

The portfolio management team believes that the potential for strong returns can be realized by assembling an international portfolio of fundamentally strong companies that have superior business prospects and that are priced below the team’s estimate of intrinsic value.

In selecting investments for the Fund:

• Fundamental research and analysis are the driving forces behind each security chosen by the portfolio management team. Security selection is based on relative value comparisons, applying the team’s understanding of industry cycles, global competitors, and company-specific variables. The investment process combines quantitative valuation screens with traditional in-depth fundamental analysis, experienced judgment, and patience.  

• The portfolio management team places great emphasis on those securities it believes can offer the best long-term appreciation within a three- to five-year horizon. The team constructs the portfolio on a stock-by-stock basis, and the holdings are diversified across market capitalization, geography, and economic sector.  

• The Fund may concentrate its investments in the consumer staples sector. The consumer staples sector consists of companies that are involved in areas such as the production, manufacture, distribution, or sale of, consumer goods and services that have non-cyclical characteristics, such as food and beverage, household goods, personal products, and non-discretionary retail. The Fund is a nondiversified fund.

• The Manager may permit its affiliate, Macquarie Investment Management Global Limited (MIMGL), to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

Read More

DIVRX - Performance

Return Ranking - Trailing

Period DIVRX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -12.8% 23.5% 77.01%
1 Yr N/A -12.1% 28.2% 99.10%
3 Yr N/A* -14.9% 45.0% 90.22%
5 Yr N/A* -34.2% 73.1% 97.00%
10 Yr N/A* 0.8% 31.9% 96.68%

* Annualized

Return Ranking - Calendar

Period DIVRX Return Category Return Low Category Return High Rank in Category (%)
2023 12.1% -1.4% 22.0% 65.09%
2022 -18.5% -43.6% 71.3% 55.93%
2021 -1.2% -28.5% 18.9% 78.83%
2020 4.9% -90.1% 992.1% 83.25%
2019 15.9% -1.9% 38.8% 84.01%

Total Return Ranking - Trailing

Period DIVRX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -12.8% 23.5% 77.01%
1 Yr N/A -12.1% 28.2% 99.10%
3 Yr N/A* -14.9% 45.0% 90.22%
5 Yr N/A* -34.2% 73.1% 97.00%
10 Yr N/A* 0.8% 31.9% 96.68%

* Annualized

Total Return Ranking - Calendar

Period DIVRX Return Category Return Low Category Return High Rank in Category (%)
2023 13.0% 3.2% 23.8% 83.18%
2022 -17.5% -43.6% 144.8% 71.47%
2021 6.2% -22.6% 56.0% 86.64%
2020 6.3% -89.7% 1010.8% 85.59%
2019 18.7% 4.3% 38.8% 88.28%

NAV & Total Return History

DIVRX - Holdings

Concentration Analysis

DIVRX Category Low Category High DIVRX % Rank
Net Assets 264 M 3.3 M 443 B 70.94%
Number of Holdings 56 1 10481 80.47%
Net Assets in Top 10 89.2 M 1.01 M 47.5 B 64.38%
Weighting of Top 10 33.72% 4.6% 147.7% 20.44%

Top 10 Holdings

  1. L'Oreal SA 4.12%
  2. Nestle SA 3.79%
  3. ASML Holding NV 3.63%
  4. Seven i Holdings Co Ltd 3.48%
  5. SAP SE 3.42%
  6. Reckitt Benckiser Group PLC 3.17%
  7. Asahi Group Holdings Ltd 3.17%
  8. Taiwan Semiconductor Manufacturing Co Ltd 3.11%
  9. Haleon PLC 3.00%
  10. Dollarama Inc 2.84%

Asset Allocation

Weighting Return Low Return High DIVRX % Rank
Stocks 		97.81% 0.00% 102.63% 48.28%
Cash 		1.30% 0.00% 44.84% 66.09%
Preferred Stocks 		0.89% -0.05% 6.89% 18.28%
Other 		0.00% -2.12% 47.54% 67.19%
Convertible Bonds 		0.00% 0.00% 4.18% 51.41%
Bonds 		0.00% 0.00% 95.29% 53.91%

Stock Sector Breakdown

Weighting Return Low Return High DIVRX % Rank
Consumer Defense 		32.29% 0.00% 32.29% 0.48%
Healthcare 		20.10% 0.00% 20.35% 0.96%
Consumer Cyclical 		17.95% 0.00% 36.36% 4.01%
Industrials 		12.17% 5.17% 99.49% 74.04%
Communication Services 		7.75% 0.00% 21.69% 22.76%
Basic Materials 		5.64% 0.00% 23.86% 81.25%
Technology 		3.81% 0.00% 36.32% 97.28%
Financial Services 		0.18% 0.00% 47.75% 99.36%
Energy 		0.05% 0.00% 16.89% 93.59%
Utilities 		0.03% 0.00% 13.68% 83.49%
Real Estate 		0.03% 0.00% 14.59% 75.48%

Stock Geographic Breakdown

Weighting Return Low Return High DIVRX % Rank
Non US 		84.85% 0.00% 99.44% 73.59%
US 		12.96% 0.00% 102.01% 21.88%

DIVRX - Expenses

Operational Fees

DIVRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.58% 0.01% 19.62% 19.25%
Management Fee 0.85% 0.00% 1.65% 90.41%
12b-1 Fee 0.50% 0.00% 1.00% 71.48%
Administrative Fee N/A 0.01% 1.00% N/A

Sales Fees

DIVRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

DIVRX 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.

DIVRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 38.00% 2.00% 247.00% 52.82%

DIVRX - Distributions

Dividend Yield Analysis

DIVRX Category Low Category High DIVRX % Rank
Dividend Yield 0.84% 0.00% 17.49% 69.53%

Dividend Distribution Analysis

DIVRX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

DIVRX Category Low Category High DIVRX % Rank
Net Income Ratio 0.55% -0.93% 6.38% 88.62%

Capital Gain Distribution Analysis

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

Distributions History

View More +

DIVRX - Fund Manager Analysis

Managers

Jens Hansen

Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Jens Hansen heads the firm’s Global Equity team and is a portfolio manager for the team’s strategies. He joined Macquarie Investment Management (MIM) in June 2018. Hansen has been a portfolio manager since 2001. Hansen started his career in 1982 with Spar Nord Bank, where he worked as an analyst and trader of bonds, equities, and derivatives. In 1994, he joined Nykredit Bank, where he worked as a bond trader. He attended the Aarhus School of Business where he gained a graduate diploma in business administration within finance and international trade.

Claus Juul

Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Claus Juul is a portfolio manager for the firm’s Global Equity team. He joined Macquarie Investment Management (MIM) in June 2018. Juul has been a portfolio manager since 2004. Prior to that, he was an equity analyst at Spar Nord Bank before becoming vice president of the research department in 2001. He started his career in 1998 with Sydbank as an equity analyst. He attended the Aarhus School of Business where he gained a master’s degree in economics and business administration.

Klaus Petersen

Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Klaus Petersen is a portfolio manager for the firm’s Global Equity team. He joined Macquarie Investment Management (MIM) in June 2018. Petersen has been a portfolio manager since 2006. Previously, he worked for ATP, Denmark’s largest pension fund, beginning in 1999 as a senior portfolio manager and later in the role as team leader of the technology, media, and telecommunications team. He joined Codan Bank in 1996, first as a senior sales analyst and later as a senior portfolio manager.

Åsa Annerstedt

Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Åsa Annerstedt is a portfolio manager for the firm’s Global Equity team. She joined Macquarie Investment Management (MIM) in June 2018. Annerstedt has been a portfolio manager since 2013. Prior to that, she was a member of the investment committee of a European Union fund dedicated to the financing of companies. Between 1999 and 2009, she managed award-winning European Small Cap and Global Equity portfolios at SEB Asset Management in Denmark. She started her career in 1996 as a business controller and consultant in Sweden. Annerstedt attended Ecole Supérieur de Commerce in Paris and Marseille and earned a master’s degree in finance and international trade from Lund University in Sweden.

Christopher Gowlland

Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

Chris Gowlland is the head of equity quantitative research, a role he assumed in July 2019. As part of his role, he also serves as portfolio manager for certain portfolios managed by the Global Equity team and for several different strategies in multi-asset class offerings of Delaware Management Company. Previously, he was a senior quantitative analyst for the firm's equity department. Prior to joining Macquarie Investment Management in May 2007, he spent seven years working in fundamental equity research and corporate finance for Morgan Stanley and Commerzbank Securities, followed by two years as a quantitative strategist at Morgan Stanley and at State Street Global Markets. Gowlland holds a bachelor's degree in Chinese and Spanish from the University of Leeds (U.K.), a master's degree in development studies from Brown University, and another master's degree in international management from Thunderbird. He also spent several years in a Ph.D. program in political economy at Harvard University. Gowlland is a member of the CFA Institute, the CFA Society New York, the CFA Society of Philadelphia, and the Society of Quantitative Analysts.

Allan Jensen

Start Date

Tenure

Tenure Rank

May 19, 2020

2.03

2.0%

Allan Saustrup Jensen joined Macquarie Investment Management (MIM) in May 2020 as a portfolio manager for the firm’s Global Equity team. He has more than 20 years of experience in the asset management industry. Prior to joining MIM, he spent five years at European Capital Partners as a fund manager. From 2010 to 2015, Jensen was a trader at European Value Partners. Prior to that, he spent four years at UBS Wealth Management as a portfolio manager. He began his investment career at Nordea Bank. Jensen attended Copenhagen Business School where he earned a Graduate Diploma in finance.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.32 3.25

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