ICKNX: Ivy Crossover Credit N

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ICKNX Ivy Crossover Credit N

  • Fund
  • ICKNX
  • Price as of: Nov 20, 2019
  • $10.54 + $0.02 + 0.19%

ICKNX - Profile

Vitals

  • YTD Return 12.1%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $44.2 M
  • Holdings in Top 10 25.5%

52 WEEK LOW AND HIGH

$10.54
$9.33
$10.61

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.90%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 85.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Fund Classification

PRIMARY CATEGORY

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

Distributions

  • YTD Total Return 12.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.31%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Ivy Crossover Credit Fund
  • Fund Family Name Ivy Funds
  • Inception Date Apr 03, 2017
  • Shares Outstanding N/A
  • Share Class N
  • Currency USD
  • Domiciled Country United States
  • Manager Susan K. Regan

Fund Description

The fund invests, under normal circumstances, at least 80% of its net assets in bonds. It will primarily invest in debt securities issued by domestic companies, but also may invest up to 20% of its total assets in debt securities issued by foreign companies. The fund typically will not invest more than 35% of its total assets in non-investment grade securities.

ICKNX - Performance

Return Ranking - Trailing

Period ICKNX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.1% -4.7% 83.4% 1.15%
1 Yr 11.5% -2.8% 83.4% 5.54%
3 Yr N/A* -2.6% 22.4% N/A
5 Yr N/A* -14.7% 11.3% N/A
10 Yr N/A* -8.7% 8.7% N/A

* Annualized


Return Ranking - Calendar

Period ICKNX Return Category Return Low Category Return High Rank in Category (%)
2018 -7.4% -13.7% 0.8% 98.18%
2017 N/A -2.8% 21.2% N/A
2016 N/A -58.1% 8.6% N/A
2015 N/A -24.0% 3.0% N/A
2014 N/A -60.4% 26.9% N/A

Total Return Ranking - Trailing

Period ICKNX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.6% -4.7% 83.4% 1.00%
1 Yr 13.2% -2.8% 83.4% 2.29%
3 Yr N/A* -2.6% 22.4% N/A
5 Yr N/A* -14.7% 11.3% N/A
10 Yr N/A* -8.7% 8.7% N/A

* Annualized


Total Return Ranking - Calendar

Period ICKNX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.0% -13.7% 6.5% 85.28%
2017 N/A -2.7% 27.0% N/A
2016 N/A -58.1% 10.7% N/A
2015 N/A -14.6% 4.2% N/A
2014 N/A -60.4% 26.9% N/A

NAV & Total Return History

ICKNX - Holdings

Concentration Analysis

ICKNX Category Low Category High ICKNX % Rank
Net Assets 44.2 M 691 K 245 B 93.71%
Number of Holdings 64 2 17572 91.67%
Net Assets in Top 10 10.8 M -203 M 25.7 B 91.70%
Weighting of Top 10 25.47% 2.5% 138.1% 38.95%

Top 10 Holdings

  1. Crown Castle International Corp. 4.75% 2.73%

  2. Keysight Technologies, Inc. 4.6% 2.58%

  3. CubeSmart L.P. 4.38% 2.58%

  4. Motorola Solutions Inc 4.6% 2.56%

  5. IHS Markit Ltd 4.75% 2.55%

  6. Bayer US Finance II LLC 4.38% 2.54%

  7. L3 Harris Technologies Inc 3.85% 2.53%

  8. Aon Corporation 3.75% 2.51%

  9. BAE Systems Holdings Inc. 3.85% 2.47%

  10. Huntington Ingalls Industries, Inc. 3.48% 2.44%


Asset Allocation

Weighting Return Low Return High ICKNX % Rank
Bonds
94.63% 80.58% 161.01% 75.28%
Cash
3.12% -61.01% 28.73% 37.18%
Convertible Bonds
2.25% 0.00% 5.16% 5.44%
Stocks
0.00% -17.64% 26.52% 84.04%
Preferred Stocks
0.00% -1.25% 8.19% 85.42%
Other
0.00% -36.80% 30.83% 80.93%

Bond Sector Breakdown

Weighting Return Low Return High ICKNX % Rank
Corporate
96.88% -1.23% 98.80% 0.71%
Cash & Equivalents
3.12% -61.01% 28.73% 37.18%
Derivative
0.00% -28.06% 41.91% 78.43%
Securitized
0.00% 0.00% 136.75% 92.94%
Municipal
0.00% 0.00% 150.05% 95.48%
Government
0.00% -86.06% 125.80% 89.19%

Bond Geographic Breakdown

Weighting Return Low Return High ICKNX % Rank
US
84.24% 63.24% 158.16% 80.69%
Non US
10.39% -26.10% 22.91% 19.67%

ICKNX - Expenses

Operational Fees

ICKNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.90% 0.00% 209.96% 40.21%
Management Fee 0.50% 0.00% 1.25% 88.59%
12b-1 Fee 0.00% 0.00% 1.00% 16.99%
Administrative Fee N/A 0.00% 0.63% N/A

Sales Fees

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

Trading Fees

ICKNX 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.

ICKNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 85.00% 0.00% 2053.00% 70.85%

ICKNX - Distributions

Dividend Yield Analysis

ICKNX Category Low Category High ICKNX % Rank
Dividend Yield 1.57% 0.00% 95.20% 22.18%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

ICKNX Category Low Category High ICKNX % Rank
Net Income Ratio 3.31% 0.00% 6.30% 14.70%

Capital Gain Distribution Analysis

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

ICKNX - Managers

Susan K. Regan

Manager

Start Date

Tenure

Tenure Rank

Apr 13, 2018

1.55

1.6%

Ms. Regan is Vice President of WRIMCO and IICO, Vice President of the Trust, and Vice President of and portfolio manager for other investment companies for which WRIMCO or IICO serves as investment manager. Ms. Regan joined Waddell & Reed in November 2007 as a fixed-income investment analyst and trader. She was appointed assistant vice president and assistant portfolio manager in January 2010. She earned a BA in economics in May 1984 and an MA in economics in December 1985 from the University of Missouri-Columbia.


Mark G. Beischel

Manager

Start Date

Tenure

Tenure Rank

Apr 13, 2018

1.55

1.6%

Mark G. Beischel is Senior Vice President of WRIMCO and IICO and Vice President of the Trust, and Vice President of and portfolio manager for other investment companies for which WRIMCO or IICO serves as investment manager. Mr. Beischel has served as Global Director of Fixed Income of WRIMCO and IICO since June 2011. Mr. Beischel has served as assistant portfolio manager for investment companies managed by WRIMCO since 2000, and has been an employee of such since 1998.


Benjamin J. Esty

Manager

Start Date

Tenure

Tenure Rank

Jul 09, 2018

1.31

1.3%

Benjamin J. Esty. Mr. Esty has been an Executive Director and Portfolio Manager with the Advisor since 2014. Mr. Esty has key responsibilities for the firm’s corporate credit, long/short and CLO platform. Prior to joining Palmer Square, Mr. Esty served as Partner and Portfolio Manager at Eagle River Asset Management from 2010 to 2013, where he focused on managing positions across a variety of industries and product types including convertible bonds, straight bonds, equities, options and credit default swaps. Prior to Eagle River Asset Management, he was Head of Research with Sandelman Partners from 2005 to 2009. As Head of Research, Mr. Esty not only directed idea generation across convertible, capital structure, distressed and equity strategies, but he also covered a range of industries and oversaw the firm’s analyst team. Prior to joining Sandelman, he was an Analyst in the Credit Group at Citadel Investment Group from 2001 to 2005. He conducted fundamental research, generated trade ideas and provided continuing coverage of positions across the spectrum of distressed, high yield and investment grade debt as well as convertible bonds, equities and options. While at Citadel, Mr. Esty was also involved with the firm’s U.S. convertible bond arbitrage effort. Mr. Esty received a Bachelor of Arts degree double major in Economics and International Relations, with Distinction in International Relations, at the University of Pennsylvania.


Tenure Analysis

Category Low

0.0

Category High

32.94

Category Average

7.6

Category Mode

7.46