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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$6.07

$3.16 B

7.18%

$0.44

1.66%

Vitals

YTD Return

4.3%

1 yr return

-11.8%

3 Yr Avg Return

-5.4%

5 Yr Avg Return

-4.5%

Net Assets

$3.16 B

Holdings in Top 10

19.7%

52 WEEK LOW AND HIGH

$6.0
$5.59
$6.91

Expenses

OPERATING FEES

Expense Ratio 1.66%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 48.00%

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

$6.07

$3.16 B

7.18%

$0.44

1.66%

WRHIX - Profile

Distributions

  • YTD Total Return 4.3%
  • 3 Yr Annualized Total Return -5.4%
  • 5 Yr Annualized Total Return -4.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.72%
DIVIDENDS
  • Dividend Yield 7.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Delaware Ivy High Income Fund
  • Fund Family Name
    Ivy Funds
  • Inception Date
    Jul 31, 1997
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Adam Brown

Fund Description

Delaware Ivy High Income Fund seeks to achieve its objective by investing primarily in a diversified portfolio of high-yield, high-risk, fixed-income securities, including secured and unsecured loan assignments, loan participations and other loan instruments (loans), of US and foreign issuers, the risks of which are, in the judgment of Delaware Management Company (Manager) consistent with the Fund’s objective. The Fund invests primarily in lower-quality debt securities, which include debt securities rated BB+ or lower 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. The Fund may invest up to 100% of its total assets in non-investment-grade debt securities, commonly called “high-yield” or “junk” bonds, which include debt securities rated BB+ or lower by S&P, or comparably rated by another NRSRO or, if unrated, determined by the Manager to be of comparable quality. The Fund may invest in fixed-income securities of any maturity.

The Fund may invest up to 100% of its total assets in foreign securities that are denominated in US dollars or foreign currencies. 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 Fund may invest in restricted securities.

Although the Manager considers credit ratings in selecting investments for the Fund, the Manager bases its investment decisions for a particular instrument primarily on its own credit analysis and not on a NRSRO’s credit rating. In selecting securities, the Manager may conduct an initial screening of issuers based on characteristics such as yield, performance, maturity and relative value across and within sectors. Following its initial screening, the Manager may look at a number of factors beginning with a primarily bottom-up (researching individual issuers) analysis that includes extensive modeling and talking with a company’s management team, industry consultants and sell-side research to help formulate opinions, and progressing to consideration of the current economic environment, the direction and level of interest rates and inflation, and industry fundamentals and trends in the general economy. Other factors considered include a company’s financial strength, growth of operating cash flows, strength of management, borrowing requirements, improving credit metrics, potential to improve credit standing, responsiveness to changes in interest rates and business conditions, strength of business model, competitive advantage and capital structure and future capital needs. Initial position sizes are determined based on factors that include size of issue, rating, duration, coupon, call-ability, exposure to a specific industry and leverage.

The Manager attempts to optimize the Fund’s risk/reward by investing in the debt portion of the capital structure that the Manager believes to be most attractive, which may include secured and/or unsecured loans, floating rate notes and/or secured and/or unsecured high-yield bonds. For example, if the Manager believes that market conditions are favorable for a particular type of fixed-income instrument, such as high-yield bonds, most or all of the fixed-income instruments in which the Fund invests may be high-yield bonds. Similarly, if the Manager believes that market conditions are favorable for loans, most or all of the fixed-income instruments in which the Fund invests may be loans, including second-lien loans which typically are lower in the capital structure and less liquid than first-lien loans.

Generally, in determining whether to sell a security, the Manager considers the dynamics of an industry and/or company change or anticipated change, a change in strategy by a company, a deterioration of the company’s financial model, credit quality or credit standing, and/or a change in management’s consideration of its creditors. The Manager also may sell a security if, in the Manager’s opinion, the price of the security has risen to fully reflect the company’s improved creditworthiness and other investments with greater potential exist. The Manager also may sell a security to take advantage of what it believes are more attractive investment opportunities, to reduce the Fund’s holding in that security or to raise cash.

The Manager may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Europe Limited, Macquarie Investment Management Austria Kapitalanlage AG, and Macquarie Investment Management Global Limited (together, the “Affiliated Sub-Advisors”). The Manager may also permit these Affiliated Sub-Advisors to execute Fund security trades on behalf of the Manager and exercise investment discretion for securities in certain markets where the Manager believes it will be beneficial to utilize an Affiliated Sub-Advisor’s specialized market knowledge.

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WRHIX - Performance

Return Ranking - Trailing

Period WRHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.3% -39.9% 7.5% 6.62%
1 Yr -11.8% -27.2% 21.3% 77.28%
3 Yr -5.4%* -16.1% 66.6% 80.53%
5 Yr -4.5%* -14.1% 37.2% 91.69%
10 Yr -3.5%* -9.3% 16.7% 92.53%

* Annualized

Return Ranking - Calendar

Period WRHIX Return Category Return Low Category Return High Rank in Category (%)
2022 -17.2% -44.3% 3.7% 78.88%
2021 0.0% -56.9% 9.2% 52.82%
2020 -0.6% -53.7% 70.9% 78.48%
2019 1.0% -33.7% 5.1% 87.02%
2018 -1.9% -9.4% 12.0% 78.55%

Total Return Ranking - Trailing

Period WRHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.3% -39.9% 7.5% 6.62%
1 Yr -11.8% -27.2% 23.7% 77.43%
3 Yr -5.4%* -16.1% 66.6% 80.93%
5 Yr -4.5%* -14.1% 37.2% 92.73%
10 Yr -3.5%* -9.3% 16.7% 94.96%

* Annualized

Total Return Ranking - Calendar

Period WRHIX Return Category Return Low Category Return High Rank in Category (%)
2022 -17.2% -44.3% 3.7% 78.88%
2021 0.0% -56.9% 9.2% 52.68%
2020 -0.6% -53.7% 70.9% 78.48%
2019 1.0% -33.7% 5.1% 87.64%
2018 -1.9% -9.4% 12.0% 82.67%

NAV & Total Return History


WRHIX - Holdings

Concentration Analysis

WRHIX Category Low Category High WRHIX % Rank
Net Assets 3.16 B 1.47 M 26.2 B 15.69%
Number of Holdings 239 2 2736 66.15%
Net Assets in Top 10 749 M -492 M 2.55 B 8.66%
Weighting of Top 10 19.67% 1.9% 100.0% 18.31%

Top 10 Holdings

  1. Dreyfus Instl Preferred Govt MMkt Instl 3.22%
  2. New Cotai Participation Corp. Class B 3.22%
  3. New Cotai Participation Corp. Class B 3.22%
  4. New Cotai Participation Corp. Class B 3.22%
  5. New Cotai Participation Corp. Class B 3.22%
  6. New Cotai Participation Corp. Class B 3.22%
  7. New Cotai Participation Corp. Class B 3.22%
  8. New Cotai Participation Corp. Class B 3.22%
  9. New Cotai Participation Corp. Class B 3.22%
  10. New Cotai Participation Corp. Class B 3.22%

Asset Allocation

Weighting Return Low Return High WRHIX % Rank
Bonds
89.66% 0.00% 154.38% 79.67%
Stocks
4.10% -0.60% 52.82% 5.53%
Cash
3.34% -52.00% 100.00% 44.19%
Other
1.36% -63.70% 32.06% 4.26%
Preferred Stocks
1.33% 0.00% 14.10% 10.34%
Convertible Bonds
0.22% 0.00% 17.89% 86.43%

Stock Sector Breakdown

Weighting Return Low Return High WRHIX % Rank
Consumer Defense
48.18% 0.00% 100.00% 6.67%
Communication Services
33.10% 0.00% 99.99% 10.62%
Consumer Cyclical
18.27% 0.00% 100.00% 13.58%
Energy
0.45% 0.00% 100.00% 70.86%
Utilities
0.00% 0.00% 100.00% 37.04%
Technology
0.00% 0.00% 34.19% 47.90%
Real Estate
0.00% 0.00% 86.71% 31.60%
Industrials
0.00% 0.00% 100.00% 50.86%
Healthcare
0.00% 0.00% 30.07% 27.90%
Financial Services
0.00% 0.00% 100.00% 36.54%
Basic Materials
0.00% 0.00% 100.00% 38.27%

Stock Geographic Breakdown

Weighting Return Low Return High WRHIX % Rank
US
3.72% -0.60% 47.59% 6.59%
Non US
0.38% -0.01% 5.26% 8.40%

Bond Sector Breakdown

Weighting Return Low Return High WRHIX % Rank
Corporate
95.53% 0.00% 100.00% 49.16%
Cash & Equivalents
3.55% 0.00% 100.00% 46.57%
Municipal
0.92% 0.00% 1.17% 1.16%
Derivative
0.00% 0.00% 45.95% 45.15%
Securitized
0.00% 0.00% 97.24% 60.41%
Government
0.00% 0.00% 99.07% 51.23%

Bond Geographic Breakdown

Weighting Return Low Return High WRHIX % Rank
US
74.72% 0.00% 150.64% 79.72%
Non US
14.94% 0.00% 96.17% 28.94%

WRHIX - Expenses

Operational Fees

WRHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.66% 0.02% 3.87% 13.11%
Management Fee 0.53% 0.00% 1.84% 43.96%
12b-1 Fee 1.00% 0.00% 1.00% 80.45%
Administrative Fee N/A 0.00% 0.50% 4.31%

Sales Fees

WRHIX 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% 27.66%

Trading Fees

WRHIX 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.

WRHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 1.00% 327.00% 23.85%

WRHIX - Distributions

Dividend Yield Analysis

WRHIX Category Low Category High WRHIX % Rank
Dividend Yield 7.18% 0.00% 39.70% 16.84%

Dividend Distribution Analysis

WRHIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

WRHIX Category Low Category High WRHIX % Rank
Net Income Ratio 5.72% -2.39% 14.30% 8.09%

Capital Gain Distribution Analysis

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

Distributions History

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WRHIX - Fund Manager Analysis

Managers

Adam Brown


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

Adam H. Brown, CFA , is a senior portfolio manager on the Macquarie Investment Management Business Trust. 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 McCarthy


Start Date

Tenure

Tenure Rank

Nov 15, 2021

0.54

0.5%

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 Category High Category Average Category Mode
0.13 37.79 7.09 2.92