Delaware Small Cap Growth Fund
Name
As of 04/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.5%
1 yr return
10.8%
3 Yr Avg Return
-14.4%
5 Yr Avg Return
5.5%
Net Assets
$116 M
Holdings in Top 10
26.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.62%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 115.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DSGFX - Profile
Distributions
- YTD Total Return 1.5%
- 3 Yr Annualized Total Return -14.4%
- 5 Yr Annualized Total Return 5.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.46%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDelaware Small Cap Growth Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateJun 30, 2016
-
Shares OutstandingN/A
-
Share ClassR
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerW. Alexander Ely
Fund Description
The Fund invests primarily in common stocks of growth-oriented companies that its investment manager, Delaware Management Company (Manager), believes have long-term capital appreciation potential and expect to grow faster than the US economy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of small-capitalization companies (80% policy). The Fund may invest in both domestic and foreign small-capitalization companies. For purposes of this Fund, small-capitalization companies are those companies whose market capitalization is similar to the market capitalization of companies in the Russell 2000® Growth Index. The Index is used for purposes of determining range and not for targeting portfolio management. As of June 30, 2023, the Russell 2000 Growth Index had a market capitalization range between $1.9 million and $13.1 billion. The market capitalization range for the Russell 2000 Growth Index will change on a periodic basis. A company’s market capitalization is determined based on its current market capitalization. Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.
The Manager utilizes a bottom-up (researching individual issuers) stock-picking process that considers quality of management and superior financial characteristics (e.g., return on assets, return on equity, operating margin) in its search for companies, thereby focusing on what it believes are higher-quality companies with sustainable growth prospects. The Manager seeks companies that it believes exhibit successful and scalable business models by having one or more of the following characteristics: serving markets that are growing at rates substantially in excess of the average industry and/or the general economy; a company that is a leader in its industry and that possesses an identifiable competitive advantage; that features strong and effective management; that demonstrates a strong commitment to shareholders; that is serving a large and/or fast-growing market opportunity; that is experiencing upward margin momentum, a growth in earnings, growth in revenue and sales and/or positive cash flows; that is increasing market share and/or creating increasing barriers to entry either through technological advancement, marketing, distribution or some other innovative means; or that emphasizes organic growth. The Manager believes that such companies generally have a replicable business model that allows for sustained growth.
Generally, in determining whether to sell a security, the Manager uses the same type of analysis that it uses in buying securities. For example, the Manager may sell a security if it believes that the stock no longer offers significant growth potential, which may be due to a change in the business or management of the company or a change in the industry or sector of the company. The Manager also may sell a security to reduce the Fund’s holding in that security, if its analysis reveals evidence of a meaningful deterioration in operating trends, if it anticipates a decrease in the company’s ability to grow, if it loses confidence in the management of the company and/or the company’s founder departs, to take advantage of what it believes are more attractive investment opportunities or to raise cash.
The Manager may use futures and options to seek to protect unrealized gains in the Fund’s portfolio when the Manager anticipates adverse conditions; to neutralize the effect of any price declines, without selling a security; and to gain exposure to a particular market segment without purchasing individual securities in that segment.
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.
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.
DSGFX - Performance
Return Ranking - Trailing
Period | DSGFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -11.0% | 12.2% | 19.16% |
1 Yr | 10.8% | -7.4% | 45.9% | 26.76% |
3 Yr | -14.4%* | -25.3% | 56.7% | 96.76% |
5 Yr | 5.5%* | -4.7% | 43.7% | 62.00% |
10 Yr | N/A* | 0.9% | 24.0% | N/A |
* Annualized
Return Ranking - Calendar
Period | DSGFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 24.6% | -20.5% | 54.6% | 5.28% |
2022 | -45.4% | -82.1% | 32.2% | 96.43% |
2021 | -19.3% | -90.6% | 300.1% | 82.52% |
2020 | 62.9% | -63.0% | 127.9% | 3.36% |
2019 | 28.7% | -7.7% | 42.9% | 21.54% |
Total Return Ranking - Trailing
Period | DSGFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -11.0% | 12.2% | 19.16% |
1 Yr | 10.8% | -7.4% | 45.9% | 26.76% |
3 Yr | -14.4%* | -25.3% | 56.7% | 96.76% |
5 Yr | 5.5%* | -4.7% | 43.7% | 62.00% |
10 Yr | N/A* | 0.9% | 24.0% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DSGFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 24.6% | -19.0% | 136.8% | 5.99% |
2022 | -45.4% | -59.9% | 44.3% | 97.86% |
2021 | -6.7% | -22.7% | 411.9% | 96.58% |
2020 | 95.9% | 1.5% | 150.8% | 1.49% |
2019 | 30.5% | 5.5% | 55.3% | 43.85% |
NAV & Total Return History
DSGFX - Holdings
Concentration Analysis
DSGFX | Category Low | Category High | DSGFX % Rank | |
---|---|---|---|---|
Net Assets | 116 M | 207 K | 34.3 B | 83.48% |
Number of Holdings | 75 | 7 | 1180 | 70.26% |
Net Assets in Top 10 | 30.6 M | 57.4 K | 2.83 B | 81.39% |
Weighting of Top 10 | 26.36% | 7.1% | 100.1% | 36.93% |
Top 10 Holdings
- iShares Russell 2000 Growth ETF 3.80%
- CyberArk Software Ltd 3.55%
- Parsons Corp 2.73%
- CBIZ Inc 2.69%
- Sprout Social Inc 2.57%
- Federal Signal Corp 2.41%
- Progyny Inc 2.35%
- Red Rock Resorts Inc 2.15%
- DoubleVerify Holdings Inc 2.06%
- ATI Inc 2.05%
Asset Allocation
Weighting | Return Low | Return High | DSGFX % Rank | |
---|---|---|---|---|
Stocks | 98.95% | 77.88% | 108.99% | 28.52% |
Cash | 1.61% | 0.00% | 26.25% | 54.09% |
Preferred Stocks | 0.00% | 0.00% | 3.53% | 30.26% |
Other | 0.00% | -0.22% | 5.89% | 44.70% |
Convertible Bonds | 0.00% | 0.00% | 1.57% | 21.74% |
Bonds | 0.00% | 0.00% | 3.22% | 20.17% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DSGFX % Rank | |
---|---|---|---|---|
Healthcare | 33.28% | 0.00% | 47.90% | 3.13% |
Technology | 25.56% | 2.91% | 75.51% | 46.96% |
Consumer Cyclical | 23.94% | 0.00% | 24.04% | 0.70% |
Consumer Defense | 8.44% | 0.00% | 13.56% | 4.70% |
Industrials | 6.28% | 0.00% | 36.64% | 96.00% |
Financial Services | 2.50% | 0.00% | 42.95% | 90.78% |
Utilities | 0.00% | 0.00% | 5.57% | 46.09% |
Real Estate | 0.00% | 0.00% | 15.31% | 78.78% |
Energy | 0.00% | 0.00% | 55.49% | 80.35% |
Communication Services | 0.00% | 0.00% | 15.31% | 86.43% |
Basic Materials | 0.00% | 0.00% | 9.24% | 87.30% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DSGFX % Rank | |
---|---|---|---|---|
US | 98.95% | 30.27% | 102.09% | 26.09% |
Non US | 0.00% | 0.00% | 61.74% | 38.43% |
DSGFX - Expenses
Operational Fees
DSGFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.62% | 0.05% | 23.20% | 23.17% |
Management Fee | 0.75% | 0.05% | 1.62% | 34.49% |
12b-1 Fee | 0.50% | 0.00% | 1.00% | 71.52% |
Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
DSGFX 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% | 5.00% | N/A |
Trading Fees
DSGFX 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.
DSGFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 115.00% | 3.00% | 439.00% | 86.23% |
DSGFX - Distributions
Dividend Yield Analysis
DSGFX | Category Low | Category High | DSGFX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 7.14% | 34.26% |
Dividend Distribution Analysis
DSGFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
DSGFX | Category Low | Category High | DSGFX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.46% | -2.47% | 1.10% | 90.48% |
Capital Gain Distribution Analysis
DSGFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
DSGFX - Fund Manager Analysis
Managers
W. Alexander Ely
Start Date
Tenure
Tenure Rank
Jun 30, 2016
5.92
5.9%
Alex Ely Senior Vice President, Chief Investment Officer — Small/Mid-Cap Growth Equity Alex Ely joined Macquarie Investment Management (MIM) in February 2016 as part of the firm’s acquisition of Bennett Lawrence Management, LLC, a New York¬–based US growth equity manager. Prior to joining the firm as CIO of Small/Mid-Cap Growth Equity, he was portfolio manager and chief portfolio strategist at Bennett Lawrence. Ely joined Bennett Lawrence in 1997 as a portfolio analyst, and in 2002 he was promoted to portfolio manager. Before joining Bennett Lawrence, he was an equity product manager at Oppenheimer Management. From 1988 to 1989, he was a strategy clerk at the Boston Stock Exchange. Ely earned a bachelor’s degree in economics from the University of New Hampshire.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.44 | 9.01 | 5.25 |