DTRIX: Delaware Limited-Term Diversified Inc A

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DTRIX Delaware Limited-Term Diversified Inc A

  • Fund
  • DTRIX
  • Price as of: Oct 16, 2019
  • $8.30 + $0.01 + 0.12%
  • Primary Category
  • Uncategorized

DTRIX - Profile

Vitals

  • YTD Return 2.0%
  • 3 Yr Annualized Return -1.0%
  • 5 Yr Annualized Return -0.7%
  • Net Assets $453 M
  • Holdings in Top 10 29.8%

52 WEEK LOW AND HIGH

$8.30
$8.14
$8.34

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.95%

SALES FEES

  • Front Load 2.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 130.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$250

Fund Classification

PRIMARY CATEGORY

Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return 2.0%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.46%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Delaware Limited-Term Diversified Income Fund
  • Fund Family Name Delaware Funds by Macquarie
  • Inception Date Nov 25, 1985
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Roger A. Early

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 investment grade fixed income securities, including, but not limited to, fixed income securities issued or guaranteed by the U.S. government, its agencies or instrumentalities, and by U.S. corporations. The fund may invest up to 20% of its net assets in below-investment-grade securities.

DTRIX - Performance

Return Ranking - Trailing

Period DTRIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -1.1% 84.1% 88.26%
1 Yr 1.2% -6.3% 20.3% 96.59%
3 Yr -1.0%* -2.7% 8.8% 96.17%
5 Yr -0.7%* -14.8% 7.0% 93.19%
10 Yr -0.7%* -8.6% 6.4% 97.35%

* Annualized


Return Ranking - Calendar

Period DTRIX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.8% -13.7% 7.3% 78.63%
2017 -0.2% -6.5% 21.2% 88.25%
2016 0.6% -58.1% 8.6% 28.06%
2015 -1.1% -24.0% 3.0% 52.10%
2014 -0.4% -60.4% 26.9% 88.07%

Total Return Ranking - Trailing

Period DTRIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -1.1% 84.1% 88.54%
1 Yr 1.2% -6.3% 20.3% 95.87%
3 Yr -1.0%* -2.7% 8.8% 96.90%
5 Yr -0.7%* -14.8% 7.0% 94.46%
10 Yr -0.5%* -8.6% 6.9% 97.23%

* Annualized


Total Return Ranking - Calendar

Period DTRIX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.8% -13.7% 6.9% 82.24%
2017 -0.2% -6.5% 27.0% 90.00%
2016 0.6% -58.1% 10.7% 34.33%
2015 -1.1% -14.6% 4.2% 59.40%
2014 -0.4% -60.4% 26.9% 90.46%

NAV & Total Return History

DTRIX - Holdings

Concentration Analysis

DTRIX Category Low Category High DTRIX % Rank
Net Assets 453 M 698 K 241 B 56.43%
Number of Holdings 503 1 17412 31.62%
Net Assets in Top 10 137 M -195 M 22.6 B 46.05%
Weighting of Top 10 29.78% 2.5% 215.9% 31.69%

Top 10 Holdings

  1. United States Treasury Notes 2.38% 4.73%

  2. Us 5yr Note (Cbt) Dec19 4.68%

  3. US 10 Year Note (CBT) Dec19 4.36%

  4. United States Treasury Notes 1.25% 4.12%

  5. Citibank Credit Card Issuance Trust 2.41% 2.60%

  6. American Express Credit Account Master Trust 2.67% 2.23%

  7. Federal National Mortgage Association 5% 2.21%

  8. Citibank Credit Card Issuance Trust 2.37% 1.93%

  9. Chase Issuance Trust 2.58% 1.61%

  10. USB Capital IX 3.5% 1.30%


Asset Allocation

Weighting Return Low Return High DTRIX % Rank
Bonds
102.35% 80.14% 153.76% 5.92%
Convertible Bonds
1.34% 0.00% 6.16% 12.19%
Cash
0.05% -46.73% 22.95% 81.78%
Stocks
0.00% -14.50% 18.61% 10.14%
Preferred Stocks
0.00% -48.13% 8.19% 16.02%
Other
-3.74% -55.96% 29.72% 99.22%

Bond Sector Breakdown

Weighting Return Low Return High DTRIX % Rank
Securitized
43.97% 0.00% 141.25% 12.19%
Corporate
38.90% -57.89% 99.47% 21.06%
Government
21.33% -74.40% 253.85% 30.02%
Cash & Equivalents
0.05% -46.73% 22.95% 78.94%
Municipal
0.00% 0.00% 157.77% 76.60%
Derivative
-0.50% -125.90% 27.06% 97.24%

Bond Geographic Breakdown

Weighting Return Low Return High DTRIX % Rank
US
93.42% 66.38% 153.76% 49.38%
Non US
8.93% -55.96% 22.80% 26.80%

DTRIX - Expenses

Operational Fees

DTRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.95% 0.00% 209.96% 36.53%
Management Fee 0.50% 0.00% 1.25% 80.72%
12b-1 Fee 0.25% 0.00% 1.00% 31.70%
Administrative Fee N/A 0.00% 0.63% N/A

Sales Fees

DTRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.75% 0.00% 5.75% 65.08%
Deferred Load N/A 0.00% 5.50% N/A

Trading Fees

DTRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Turnover 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.

DTRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 130.00% 0.00% 1856.00% 81.54%

DTRIX - Distributions

Dividend Yield Analysis

DTRIX Category Low Category High DTRIX % Rank
Dividend Yield 1.30% 0.00% 95.70% 50.87%

Dividend Distribution Analysis

DTRIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

DTRIX Category Low Category High DTRIX % Rank
Net Income Ratio 2.46% -0.18% 6.30% 54.63%

Capital Gain Distribution Analysis

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

DTRIX - Managers

Roger A. Early

Manager

Start Date

Tenure

Tenure Rank

May 24, 2007

12.36

12.4%

Roger A. Early, CPA, CFA, CFP Senior Vice President, Co-Chief Investment Officer – Total Return Fixed Income Strategy Roger A. Early rejoined Delaware Investments in March 2007 as a member of the firm’s taxable fixed income portfolio management team, with primary responsibility for portfolio construction and strategic asset allocation. During his previous time at the firm, from 1994 to 2001, he was a senior portfolio manager in the same area, and he left Delaware Investments as head of its U.S. investment grade fixed income group. In recent years, Early was a senior portfolio manager at Chartwell Investment Partners and Rittenhouse Financial and served as the chief investment officer for fixed income at Turner Investments. Prior to joining Delaware Investments in 1994, he worked for more than 10 years at Federated Investors where he managed more than $25 billion in mutual fund and institutional portfolios in the short-term and investment grade markets. He left the firm as head of institutional fixed income management. Earlier in his career, he held management positions with the Federal Reserve Bank, PNC Financial, Touche Ross, and Rockwell International. Early earned his bachelor’s degree in economics from The Wharton School of the University of Pennsylvania and an MBA with concentrations in finance and accounting from the University of Pittsburgh. He is a member of the CFA Society of Philadelphia.


Brian C. McDonnell

Manager

Start Date

Tenure

Tenure Rank

Apr 29, 2012

7.42

7.4%

Senior Vice President, Senior Portfolio Manager, Senior Structured Products Analyst Brian C. McDonnell is a member of the firm's taxable fixed income portfolio management team with primary responsibility for portfolio construction and strategic asset allocation. He also serves as lead analyst for residential mortgage-backed securities. He joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in March 2007 as a vice president and senior structured products analyst/trader, assuming portfolio management responsibilities in 2009. Prior to joining Delaware Investments, he was a managing director and head of fixed income trading at Sovereign Securities, where he was responsible for risk management and hedging of the firm’s holdings. Earlier in his career, he spent more than 10 years in various fixed income capacities with Prudential Securities in New York. McDonnell has a bachelor’s degree in finance from Boston College, and he is a member of the CFA Society of Philadelphia.


Adam H. Brown

Manager

Start Date

Tenure

Tenure Rank

Oct 31, 2013

5.92

5.9%

Adam H. Brown, CFA Senior Vice President, Senior Portfolio Manager, Co-Head of High Yield — Macquarie Investment Management, Americas Adam H. Brown is a senior portfolio manager on the Macquarie Investment Management Business Trust's taxable fixed income team. He manages the bank loan portfolios and is a co-portfolio manager for the high yield, fixed rate multisector, and core plus strategies. Brown joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in April 2011 as part of the firm’s integration of Macquarie Four Corners Capital Management, where he had worked since 2002. At Four Corners, he was a co-portfolio manager on four collateralized loan obligations (CLOs) and a senior research analyst supporting noninvestment grade portfolios. Before that, Brown was with the predecessor of Wells Fargo Securities, where he worked in the leveraged finance group arranging senior secured bank loans and high yield bond financings for financial sponsors and corporate issuers. He earned a bachelor’s degree in accounting from the University of Florida and an MBA from the A.B. Freeman School of Business at Tulane University.


John P. McCarthy

Manager

Start Date

Tenure

Tenure Rank

Jul 27, 2016

3.18

3.2%

John P. McCarthy is a senior portfolio manager for Delaware Management Company's high yield strategies, a role he assumed in July 2016. He is also co-head of credit research on the firm’s taxable fixed income team. McCarthy rejoined Delaware Investments in March 2007 as a senior research analyst after he worked in the firm’s fixed income area from 1990 to 2000 as a senior high yield analyst and high yield trader, and from 2001 to 2002 as a municipal bond trader. Prior to rejoining Delaware Investments, he was a senior high yield analyst/trader at Chartwell Investment Partners. McCarthy earned a bachelor’s degree in business administration from Babson College, and he is a member of the CFA Society of Philadelphia.


Tenure Analysis

Category Low

0.0

Category High

32.85

Category Average

7.59

Category Mode

7.37