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Name

As of 11/21/2024

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 Ivy Mid Cap Income Opportunities Fund

IVOAX | Fund

$20.88

$1.13 B

1.29%

$0.27

1.25%

Vitals

YTD Return

15.3%

1 yr return

23.9%

3 Yr Avg Return

5.1%

5 Yr Avg Return

10.1%

Net Assets

$1.13 B

Holdings in Top 10

28.7%

52 WEEK LOW AND HIGH

$20.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.25%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 20.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$750

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/21/2024

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 Ivy Mid Cap Income Opportunities Fund

IVOAX | Fund

$20.88

$1.13 B

1.29%

$0.27

1.25%

IVOAX - Profile

Distributions

  • YTD Total Return 15.3%
  • 3 Yr Annualized Total Return 5.1%
  • 5 Yr Annualized Total Return 10.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.95%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Delaware Ivy Mid Cap Income Opportunities Fund
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Oct 01, 2014
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Nathan Brown

Fund Description

Delaware Ivy Mid Cap Income Opportunities Fund seeks to achieve its objective by investing primarily in a diversified portfolio of income-producing common stocks of mid-capitalization companies that the Manager believes demonstrate favorable prospects for total return. Under normal circumstances, the Fund invests at least 80% of its net assets in the securities of mid-capitalization companies, which for purposes of this Fund, typically are companies with market capitalizations similar to those of issuers included in the Russell Midcap® Index over the last 13 months at the time of acquisition. As of July 1, 2024, this range of market capitalizations was between approximately $465 million and $59.1 billion. The Fund focuses primarily on mid-capitalization companies that the Manager believes have the ability to sustain, and potentially increase, dividends while providing capital appreciation over the long-term. The Fund also may invest, to a lesser extent, in companies that pay other types of income to shareholders, including return of capital.

In selecting securities for the Fund, the Manager primarily emphasizes a bottom-up (researching individual issuers) approach and may look at a number of factors in its consideration of a company, such as: competitive and sustainable dividend yield; potential growth in dividends; strong financial and operational capabilities; stable and consistent revenue, earnings, and cash flow; a sound balance sheet; market potential; profit potential and a proven track record of, or the potential for, returning capital to shareholders. Part of the Manager’s investment process also includes a review of the macroeconomic environment, with a focus on factors such as interest rates, inflation, consumer confidence and corporate spending.

The Fund typically will hold a limited number of stocks (generally 35 to 50). The Fund will emphasize investments in dividend-paying and other income-producing securities to seek to provide a steady return. The Fund’s portfolio holdings generally will be of approximate equal weight, but the Manager may adjust the weighting depending upon market conditions, for investment opportunities, or when the Manager adds or divests certain positions. The Manager intends to re-balance the Fund’s portfolio holdings at least quarterly in an effort to maintain an approximate equal weighting.

Generally, in determining whether to sell a security, the Manager uses the same type of analysis that it uses in buying securities of that type. For example, the Manager may sell a security if it believes the security is no longer able to pay a dividend in the future, no longer offers attractive current income prospects or significant growth potential or if there have been changes in economic or market factors in general or with respect to a particular industry or sector, changes in the market trends or other factors affecting an individual security. The Manager also may sell a security to rebalance the portfolio, to reduce the Fund’s holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.

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

IVOAX - Performance

Return Ranking - Trailing

Period IVOAX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.3% 4.4% 33.4% 59.62%
1 Yr 23.9% 14.6% 47.4% 66.48%
3 Yr 5.1%* -1.4% 16.1% 76.32%
5 Yr 10.1%* 1.2% 18.1% 58.52%
10 Yr 9.5%* 1.6% 12.0% 18.05%

* Annualized

Return Ranking - Calendar

Period IVOAX Return Category Return Low Category Return High Rank in Category (%)
2023 10.8% -11.3% 33.3% 31.68%
2022 -18.0% -41.6% 2.3% 78.83%
2021 21.3% -41.5% 44.9% 44.13%
2020 6.0% -29.0% 22.1% 12.50%
2019 24.1% -8.1% 31.2% 38.42%

Total Return Ranking - Trailing

Period IVOAX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.3% 4.4% 33.4% 59.62%
1 Yr 23.9% 14.6% 47.4% 66.48%
3 Yr 5.1%* -1.4% 16.1% 76.32%
5 Yr 10.1%* 1.2% 18.1% 58.52%
10 Yr 9.5%* 1.6% 12.0% 18.05%

* Annualized

Total Return Ranking - Calendar

Period IVOAX Return Category Return Low Category Return High Rank in Category (%)
2023 17.0% -1.7% 36.5% 17.91%
2022 -14.9% -35.0% 2.4% 95.82%
2021 25.3% 6.2% 48.3% 79.05%
2020 7.8% -22.9% 23.2% 14.20%
2019 26.3% -3.0% 35.7% 54.25%

NAV & Total Return History

IVOAX - Holdings

Concentration Analysis

IVOAX Category Low Category High IVOAX % Rank
Net Assets 1.13 B 991 K 28 B 43.41%
Number of Holdings 39 8 2308 92.58%
Net Assets in Top 10 324 M 319 K 5.52 B 39.84%
Weighting of Top 10 28.67% 4.6% 100.2% 23.35%

Top 10 Holdings

  1. L3Harris Technologies Inc 2.90%
  2. Extra Space Storage Inc 2.88%
  3. Tractor Supply Co 2.88%
  4. First American Financial Corp 2.87%
  5. Broadridge Financial Solutions Inc 2.87%
  6. Arthur J Gallagher Co 2.86%
  7. Rollins Inc 2.86%
  8. Stanley Black Decker Inc 2.85%
  9. TE CONNECTIVITY PLC 2.85%
  10. Garmin Ltd 2.84%

Asset Allocation

Weighting Return Low Return High IVOAX % Rank
Stocks 		97.86% 56.67% 103.53% 32.42%
Cash 		2.22% 0.00% 38.75% 59.07%
Preferred Stocks 		0.00% 0.00% 1.68% 20.60%
Other 		0.00% -0.10% 7.30% 42.31%
Convertible Bonds 		0.00% 0.00% 0.02% 11.88%
Bonds 		0.00% 0.00% 19.09% 14.29%

Stock Sector Breakdown

Weighting Return Low Return High IVOAX % Rank
Industrials 		23.33% 0.00% 29.02% 5.80%
Consumer Cyclical 		23.01% 0.00% 29.62% 1.38%
Financial Services 		19.98% 0.00% 60.11% 27.35%
Technology 		17.37% 0.00% 30.07% 3.04%
Consumer Defense 		5.98% 0.00% 33.79% 41.16%
Healthcare 		2.93% 0.00% 32.47% 94.48%
Real Estate 		2.92% 0.00% 40.74% 82.04%
Basic Materials 		2.86% 0.00% 23.88% 80.94%
Energy 		1.63% 0.00% 29.17% 93.09%
Utilities 		0.00% 0.00% 24.69% 91.16%
Communication Services 		0.00% 0.00% 19.80% 89.50%

Stock Geographic Breakdown

Weighting Return Low Return High IVOAX % Rank
US 		97.86% 56.67% 103.53% 25.27%
Non US 		0.00% 0.00% 33.85% 32.69%

IVOAX - Expenses

Operational Fees

IVOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.25% 0.06% 16.92% 29.20%
Management Fee 0.85% 0.00% 1.20% 86.54%
12b-1 Fee 0.25% 0.00% 1.00% 33.33%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

IVOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 3.50% 5.75% 6.82%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

IVOAX 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.

IVOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 20.00% 0.00% 227.00% 13.55%

IVOAX - Distributions

Dividend Yield Analysis

IVOAX Category Low Category High IVOAX % Rank
Dividend Yield 1.29% 0.00% 22.79% 20.66%

Dividend Distribution Analysis

IVOAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Quarterly

Net Income Ratio Analysis

IVOAX Category Low Category High IVOAX % Rank
Net Income Ratio 0.95% -1.84% 4.73% 36.29%

Capital Gain Distribution Analysis

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

Distributions History

View More +

IVOAX - Fund Manager Analysis

Managers

Nathan Brown

Start Date

Tenure

Tenure Rank

Oct 01, 2014

7.67

7.7%

Nathan Brown is Senior Vice President of Ivy Investment Management Company, has served as portfolio manager of the Fund since October 2016. He has been co-portfolio manager of Ivy Mid Cap Income Opportunities Fund since 2014. He had been assistant portfolio manager of Ivy Mid Cap Growth Fund and Ivy VIP Mid Cap Growth since 2011. He was named co-portfolio manager of the mid cap growth product suite in 2016. Mr. Brown joined the organization in 2003 as an equity investment analyst. He was appointed assistant vice president in 2010 and vice president in 2014. He was appointed senior vice president in 2018. Prior to joining the firm, Mr. Brown interned with Morgan Keegan. From 1999 to 2001 he completed five rotations at General Electric-Aircraft Engine’s financial management program. In 1999 he was a securities analyst for Krause Fund, where his responsibilities were concentrated in the utilities sector. Mr. Brown graduated with honors from the University of Iowa, Henry B. Tippie School of Business in 1999 with a BBA in Finance. He earned an MBA with an emphasis in Finance and Accounting from Vanderbilt University, Owen Graduate School of Management in 2003.

Kimberly Scott

Start Date

Tenure

Tenure Rank

Oct 01, 2014

7.67

7.7%

Kim Scott，Senior Vice President of Ivy Investment Management Company, has served as portfolio manager of the Fund since May 2014. She has been portfolio manager of Ivy Mid Cap Growth Fund since 2001 and of Ivy VIP Mid Cap Growth since 2005. She has been co-portfolio manager of Ivy Mid Cap Income Opportunities Fund since 2014. She assumed co-portfolio manager responsibilities for the mid cap growth product suite in 2016. Ms. Scott joined the organization in 1999 as an equity investment analyst. She was appointed assistant vice president in 2000. She was appointed vice president in 2001 and senior vice president in 2004. Prior to joining the firm, Ms. Scott served in various levels of research positions throughout her career affiliated with the following companies: Bartlett & Company, NBD Bank, Johnson Investment Counsel, Inc. and the University of Cincinnati Medical Center. Her primary responsibilities included fundamental analysis of companies and equities for mutual funds, separate accounts, and personal trusts. Through this experience, Ms. Scott provided sector coverage for consumer non-durables, technology, retail, food and beverage, and tobacco. Ms. Scott graduated from the University of Kansas in 1982 with a BS in Microbiology. She earned an MBA in Finance from the University of Cincinnati in 1987. Ms. Scott is a CFA charterholder. She is a member of the CFA Institute and the CFA Society Kansas City.

Bradley Halverson

Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Brad Halverson is co-portfolio manager of the small cap growth product suite of mutual funds and institutional accounts. He was named co-portfolio manager of the product suite in 2016. Mr. Halverson joined the organization in 2008 as an equity investment analyst on the Small Cap Growth team. He was appointed assistant vice president in 2013 and vice president in 2015. He was named assistant portfolio manager of small cap growth institutional accounts, serving in the role from 2014 to 2016. He was appointed senior vice president in 2018. Prior to joining the firm, Mr. Halverson was associated with Northpointe Capital as an equity analyst responsible for researching growth stocks across micro, small, and mid cap portfolios. From 2002 to 2004 he was an associate in health care investment banking for A.G. Edwards & Sons, Inc. He was affiliated with PricewaterhouseCoopers, LLP in positions of increasing responsibility from 1995 through 2000, culminating as a manager in business advisory services. Mr. Halverson graduated from Brigham Young University in 1995 with a BS and MS in Accounting. He earned an MBA with an emphasis in Finance and Corporate Strategy from the University of Michigan in 2002. Mr. Halverson is a CFA charterholder. He is a member of the CFA Institute. He is a former Certified Public Accountant (CPA).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.59 8.16 10.92

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