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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$17.12

$2.18 B

0.00%

1.90%

Vitals

YTD Return

5.3%

1 yr return

-21.6%

3 Yr Avg Return

-6.1%

5 Yr Avg Return

-5.2%

Net Assets

$2.18 B

Holdings in Top 10

21.8%

52 WEEK LOW AND HIGH

$17.3
$16.11
$21.84

Expenses

OPERATING FEES

Expense Ratio 1.90%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 33.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$750

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$17.12

$2.18 B

0.00%

1.90%

WASCX - Profile

Distributions

  • YTD Total Return 5.3%
  • 3 Yr Annualized Total Return -6.1%
  • 5 Yr Annualized Total Return -5.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.35%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Delaware Ivy Asset Strategy Fund
  • Fund Family Name
    Ivy Funds
  • Inception Date
    Apr 20, 1995
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    F. Chace Brundige

Fund Description

Delaware Ivy Asset Strategy Fund seeks to achieve its objective by allocating its assets among different asset classes of varying correlation around the globe. Delaware Management Company (DMC), the Fund’s investment manager primarily invests a portion of the Fund’s assets in global equity securities that the Manager believes can outperform the Fund’s benchmark index, the MSCI ACWI Index, over a full market cycle before taking into account fund expenses (the Equity portion). The Manager then invests the Fund’s remaining assets in various additional asset classes, including but not limited to global fixed-income securities, United States Treasury (Treasury) instruments, precious metals, commodities and cash (the Diversifying portion), which seek to provide returns to the Fund while having less correlation to the Equity portion. The Manager may allocate the Fund’s investments among these different asset classes in different proportions at different times, but generally seeks to invest 50%-80% of the Fund’s total assets (with a long-term target of approximately 65%) in equities or equity-like securities and 20%-50% of the Fund’s total assets (with a long-term target of approximately 35%) in the Diversifying portion.

For the purposes of this section, a reference to the Manager may also include Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), with respect to its role as sub-advisor of the Fund.

In selecting securities for the Fund, the Manager primarily emphasizes a bottom-up (researching individual issuers) approach and seeks to find relative value across the asset classes noted above. Part of the Manager’s investment process also includes a top-down (assessing the market and economic environment) analysis.

With respect to the Equity portion, the Manager seeks what it believes are well-positioned companies with a strong and/or growing sustainable competitive advantage in attractive industries across the globe which the Manager believes can exceed current earnings estimates. The Manager looks for companies that are taking market share within their industries, which results in high levels of cash flow, as well as stable to improving margins and returns. The Manager generally focuses on companies that are growing, innovating, improving margins, returning capital through dividend growth or share buybacks and/or offering what the Manager believes to be sustainable high free cash flow.

The Fund has the flexibility to invest in both growth and value companies. Although the Fund primarily invests in securities issued by large-capitalization companies (typically, companies with market capitalizations of at least $10 billion at the time of acquisition), it may invest in securities issued by companies of any size. Within the Diversifying portion, the Fund has the flexibility to invest in a wide range of assets that, in the Manager’s view, present attractive risk-adjusted returns as compared to the Equity portion, and/or reduce the Fund’s overall risk profile because such assets have less correlation to the assets within the Equity portion. Diversifying assets may be comprised of global fixed-income instruments, including investment-grade and high-yield bonds, as well as emerging market, corporate and sovereign bonds and bank loans. Such fixed-income instruments may include a significant amount, up to 35% of the Fund’s total assets, in high-yield/high-risk bonds, or junk bonds, which include bonds rated BB+ or below by S&P Global Ratings, a division of S&P Global, Inc. (S&P), or comparably rated by another nationally recognized statistical rating organization (NRSRO) or, if unrated, determined by the Manager to be of comparable quality. When selecting these instruments, the Manager focuses heavily on free cash flow and an issuer’s ability to de-lever itself (in other words, to reduce debt) through the credit cycle. The Fund also can invest in government securities issued by the Treasury (such as Treasury bills, notes or bonds), obligations issued or guaranteed as to principal and interest (but not as to market value) by the US government, its agencies or instrumentalities, international and supranational bonds issued or guaranteed by other governments, and mortgage-backed securities issued or guaranteed by government agencies or government-sponsored enterprises, as well as Treasury inflation-protected securities (TIPs), and cash.

The Fund may use a wide range of derivative instruments, typically including forward foreign currency contracts, options, futures contracts, options on futures contracts, and credit default swaps. The Fund will use derivatives for both hedging and non-hedging purposes; as a substitute for purchasing or selling securities; and to manage the Fund’s portfolio characteristics. For example, the Fund may invest in: futures and options to manage duration and for

defensive purposes, such as to protect gains or hedge against potential losses in the portfolio without actually selling a security, or to stay fully invested; forward foreign currency contracts to manage foreign currency exposure; and credit default swaps to hedge against a credit event, to gain exposure to certain securities or markets, or to enhance total return.

Within each of the Equity and the Diversifying portions, the Fund may invest in US and foreign securities. The Equity portion of the Fund generally will invest at least 30% of its assets, and may invest up to 75%, in foreign securities and in securities denominated in currencies other than the US dollar, including issuers located in and/or generating revenue from emerging markets. Many of the companies in which the Fund may invest have diverse operations, with products or services in foreign markets. Therefore, the Fund may have indirect exposure to various foreign markets through investments in these companies, even if the Fund is not invested directly in such markets.

The Manager may allocate the Fund’s investments among the different types of assets noted above in different proportions at different times (keeping in mind the general percentages noted above) and may exercise a flexible strategy in selecting investments. The Manager does not intend to concentrate the Fund in any geographical region or industry sector; however, it is not limited by investment style or by the issuer’s location or industry sector.

Subject to diversification limits, the Fund also may invest up to 10% of its total assets at the time of investment in precious metals.

In addition, the Manager may seek investment advice and recommendations relating to fixed income securities from its affiliates: Macquarie Investment Management Europe Limited (MIMEL), and Macquarie Investment Management Global Limited (MIMGL). The Manager may also permit MIMGL and Macquarie Funds Management Hong Kong Limited (MFMHKL) to execute Fund equity security trades on behalf of the Manager. The Manager may also permit MIMEL and MIMGL to exercise investment discretion and perform trading for fixed income securities in certain markets where the Manager believes it will be beneficial to utilize MIMEL’s or MIMGL’s specialized market knowledge, and the Manager may also seek quantitative support from MIMGL. MIMGL is also responsible for managing real estate investment trust securities and other equity asset classes to which the portfolio managers may allocate assets from time to time.

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WASCX - Performance

Return Ranking - Trailing

Period WASCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% -23.7% 16.4% 67.60%
1 Yr -21.6% -8.9% 48.3% 39.70%
3 Yr -6.1%* -2.2% 16.4% 18.04%
5 Yr -5.2%* -0.7% 13.4% 9.58%
10 Yr -4.3%* 0.9% 11.8% 73.26%

* Annualized

Return Ranking - Calendar

Period WASCX Return Category Return Low Category Return High Rank in Category (%)
2022 -27.8% -40.8% 20.6% 65.19%
2021 0.5% -21.0% 24.5% 18.68%
2020 3.2% -24.2% 27.8% 29.91%
2019 3.4% -23.1% 11.7% 98.76%
2018 -4.7% -100.0% 20.6% 12.81%

Total Return Ranking - Trailing

Period WASCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% -23.7% 16.4% 66.52%
1 Yr -21.6% -12.8% 48.3% 39.83%
3 Yr -6.1%* -3.4% 16.4% 15.50%
5 Yr -5.2%* -1.1% 13.4% 8.92%
10 Yr -4.3%* 0.9% 11.8% 71.55%

* Annualized

Total Return Ranking - Calendar

Period WASCX Return Category Return Low Category Return High Rank in Category (%)
2022 -27.8% -40.8% 20.6% 65.19%
2021 0.5% -21.0% 24.5% 18.68%
2020 3.2% -24.2% 27.8% 29.91%
2019 3.4% -23.1% 11.7% 99.50%
2018 -4.7% -2.9% 23.1% 35.97%

NAV & Total Return History


WASCX - Holdings

Concentration Analysis

WASCX Category Low Category High WASCX % Rank
Net Assets 2.18 B 1.12 M 110 B 21.60%
Number of Holdings 245 2 10961 56.16%
Net Assets in Top 10 523 M -31.7 M 22 B 26.30%
Weighting of Top 10 21.79% 10.8% 100.0% 64.75%

Top 10 Holdings

  1. Gold 6.95%
  2. Gold 6.95%
  3. Gold 6.95%
  4. Gold 6.95%
  5. Gold 6.95%
  6. Gold 6.95%
  7. Gold 6.95%
  8. Gold 6.95%
  9. Gold 6.95%
  10. Gold 6.95%

Asset Allocation

Weighting Return Low Return High WASCX % Rank
Stocks
70.84% -45.72% 98.42% 27.97%
Bonds
17.10% -39.76% 93.84% 63.47%
Other
5.28% -1.25% 197.12% 16.49%
Convertible Bonds
4.25% 0.00% 25.49% 11.06%
Cash
2.47% -97.12% 185.58% 75.78%
Preferred Stocks
0.08% -0.03% 14.00% 42.80%

Stock Sector Breakdown

Weighting Return Low Return High WASCX % Rank
Technology
19.46% 0.00% 39.48% 26.96%
Consumer Cyclical
15.70% 0.00% 20.84% 42.46%
Industrials
15.02% 0.09% 32.39% 1.49%
Financial Services
13.85% 0.00% 30.34% 42.04%
Healthcare
13.62% 0.00% 30.30% 32.06%
Communication Services
9.34% 0.00% 28.59% 21.87%
Energy
6.23% 0.00% 38.61% 52.44%
Consumer Defense
4.08% 0.00% 31.85% 45.22%
Real Estate
1.41% 0.00% 90.14% 84.71%
Basic Materials
1.01% 0.00% 60.23% 96.18%
Utilities
0.28% 0.00% 40.29% 86.41%

Stock Geographic Breakdown

Weighting Return Low Return High WASCX % Rank
US
42.22% -4.82% 95.75% 32.15%
Non US
28.62% -46.69% 57.06% 34.03%

Bond Sector Breakdown

Weighting Return Low Return High WASCX % Rank
Corporate
68.72% 0.00% 99.90% 9.81%
Government
10.31% 0.00% 98.64% 71.82%
Cash & Equivalents
10.13% 0.10% 100.00% 76.62%
Securitized
7.65% 0.00% 83.28% 39.25%
Derivative
2.93% 0.00% 41.88% 57.20%
Municipal
0.26% 0.00% 31.28% 5.64%

Bond Geographic Breakdown

Weighting Return Low Return High WASCX % Rank
US
12.07% -177.12% 87.76% 64.72%
Non US
5.03% -39.00% 137.36% 44.47%

WASCX - Expenses

Operational Fees

WASCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.90% 0.16% 2.71% 11.69%
Management Fee 0.66% 0.00% 1.70% 44.75%
12b-1 Fee 1.00% 0.00% 1.00% 79.68%
Administrative Fee N/A 0.01% 0.70% 0.41%

Sales Fees

WASCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load 1.00% 1.00% 5.50% 39.02%

Trading Fees

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

WASCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 33.00% 0.00% 441.00% 25.36%

WASCX - Distributions

Dividend Yield Analysis

WASCX Category Low Category High WASCX % Rank
Dividend Yield 0.00% 0.00% 10.92% 39.50%

Dividend Distribution Analysis

WASCX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Monthly

Net Income Ratio Analysis

WASCX Category Low Category High WASCX % Rank
Net Income Ratio 0.35% -5.20% 6.33% 81.26%

Capital Gain Distribution Analysis

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

Distributions History

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WASCX - Fund Manager Analysis

Managers

F. Chace Brundige


Start Date

Tenure

Tenure Rank

Aug 04, 2014

7.83

7.8%

Mr. Brundige joined Ivy Investment Management Company as an assistant portfolio manager for the Large Cap Growth equity team, and became a portfolio manager in Feb. 2006. He is Senior Vice President of IICO, Vice President of the Trust, and Vice President of and portfolio manager for other investment companies for which IICO serves as investment manager. Mr. Brundige holds a BS degree in Finance from Kansas State University, and has earned an MBA with an emphasis in Finance and Accounting from the University of Chicago Graduate School of Business. Mr. Brundige is a Chartered Financial Analyst.

Stefan Löwenthal


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Stefan Löwenthal is the chief investment officer for Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), a role he assumed in February 2013. He heads the global multi asset team based in Vienna, which is responsible for all asset allocation and security selection decisions, the management of mutual funds, as well as the development of new investment strategies. In addition, Löwenthal oversees the investment policy committee, which is responsible for strategic investment decisions at MIMAK. He began his career with Macquarie in February 2008 as a portfolio manager. He holds a Master of Management Science from Vienna University of Economics and Business. Löwenthal is a lecturer for economics at the IMC University of applied sciences in Krems (Austria) and the Qiongzhou University in Sanya (China).

Jurgen Wurzer


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Jürgen Wurzer rejoined Macquarie Investment Management Austria Kapitalanlage AG (MIMAK) in April 2018 as deputy head of portfolio management for the firm’s global multi asset team based in Vienna. Prior to that, he worked at Erste Asset Management as a senior fund manager on the multi asset management team, where he worked from September 2016 to March 2018. Wurzer previously worked at MIMAK from January 2007 to August 2016, leaving the firm as senior investment manager on the global multi asset team. He graduated from University of Applied Sciences Wiener Neustadt with a master’s degree. Wurzer is a lecturer for asset allocation, quantitative finance, portfolio, and risk management at several educational institutions.

Aaron Young


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Mr. Young is Vice President of IICO and WRIMCO and Vice President of the Trust. He joined IICO in 2005 as a fixed-income analyst with an emphasis in credit research and derivative securities. Mr. Young joined the Asset Strategy team as an investment analyst in 2007. He has served as an assistant portfolio manager of investment companies managed by IICO and WRIMCO since 2012. Mr. Young earned a BA in Philosophy from the University of Missouri and holds an MBA with an emphasis in Finance and Strategy from the Olin School of Business at Washington University

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25