Delaware Ivy Science and Technology Fund

Delaware Ivy Science and Technology Fund

Key features

Investing at the intersection of innovation and quality

Seeking innovative opportunities across the broad market

Built on a six-decade firm legacy of technology investing expertise

Daily pricing as of 05/01/2024

NAV
$65.03
NAV 1-day net change
-0.06
Max offer price
$65.03

Total net assets as of 03/31/2024

All share classes
$5.8 billion

Overview

Fund information
Inception date 04/02/2007
Dividends paid (if any) Annually
Capital gains paid (if any) December
Fund identifiers
NASDAQ ISTIX
CUSIP 466001807

Benchmark and peer group

S&P North American Technology Sector Index (view definition)

Morningstar Technology Category (view definition)

Lipper Science & Technology Category (view definition)

Performance

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.

Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.

Average annual total return as of month-end (03/31/2024)

Returns for less than one year are not annualized.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Average annual total return as of quarter-end (03/31/2024)

Returns for less than one year are not annualized.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Overall Morningstar RatingTM

Institutional Class shares - as of 03/31/2024

MorningstarMorningstarMorningstar
Rating No. of funds
Overall 3 232
3 years 3 232
5 years 3 204
10 years 2 158
Morningstar category Technology

(View Morningstar disclosure)

The Morningstar rating is based on risk-adjusted returns.

Morningstar ranking - as of 03/31/2024
1 year 126 / 267
3 years 117 / 232
5 years 115 / 204
10 years 128 / 158
Morningstar category Technology

(View Morningstar disclosure)

The Morningstar ranking is based on historical total returns.

Lipper ranking - as of 03/31/2024
1 year 100 / 187
3 years 96 / 168
5 years 87 / 152
10 years 104 / 128
Lipper classification Lipper Science & Technology Funds

(View Lipper disclosure)

The Lipper ranking is based on historical total returns.

Expense ratio

Gross
1.00%
Net
1.00%

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2023
41.00%
2022
-32.25%
2021
15.64%
2020
36.32%
2019
50.51%
2018
-4.90%
2017
33.13%
2016
1.99%
2015
-2.87%
2014
4.60%

Portfolio

Portfolio characteristics as of 03/31/2024

Number of holdings
39
Market cap (median) Source: FactSet
$84.6 billion
Market cap (weighted average) Source: FactSet
$866.3 billion
Portfolio turnover (last fiscal year)
51%
Beta (relative to S&P North American Technology Sector TR Index) (view definition)
0.92
Annualized standard deviation, 3 years (view definition)
22.88

Portfolio composition as of 03/31/2024
Total may not equal 100% due to rounding.

Domestic equities
90.9%
International equities & depositary receipts
8.7%
Cash, cash equivalents and other assets
0.4%

Top 10 holdings as of 03/31/2024

Holdings are as of the date indicated and subject to change.

List may exclude cash and cash equivalents. Please see the Fund's complete list of holdings for more information.

Holdings based by issuer.

Holding
% of portfolio
Holding
% of portfolio
NVIDIA CORPORATION
9.53
MICROSOFT CORPORATION
8.90
META PLATFORMS INC
8.85
SEAGATE TECHNOLOGY UNLIMITED CO
5.28
AMAZON.COM INC
5.24
BROADCOM INC
5.03
ASML HOLDING NV
4.04
LAM RESEARCH CORPORATION
3.85
PINTEREST INC
3.85
CADENCE DESIGN SYSTEMS INC
3.30

Total % Portfolio in Top 10 holdings - 57.87%

List of monthly holdingsList of quarterly holdings

Sector allocation as of 03/31/2024

List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.

Sector
Fund
Sector
Fund
Information technology
67.2%
Communication services
18.7%
Consumer discretionary
8.1%
Healthcare
4.0%
Industrials
1.7%

Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)

Year
Capital gains3
Net investment income
Year
Capital gains3
Net investment income
2024
0.000
0.000
2023
5.331
0.000
2022
12.373
0.000
2021
30.863
0.000
2020
7.937
0.000
2019
8.305
0.000
2018
7.451
0.000
2017
4.537
0.000
2016
0.000
0.000
2015
1.260
0.000
2014
1.165
0.000

1If a Fund makes a distribution from any source other than net income, it is required to provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The amounts and sources of distributions reported above and in each Notice are only estimates and are not provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the calendar year that will provide definitive information on how to report the Fund's distributions for federal income tax purposes. The information in the table above will not be updated to reflect any subsequent recharacterization of dividends and distributions. Click here to see recent Notices pertaining to the Fund (if any).

2Information on return of capital distributions (if any) is only provided from June 1, 2014 onward.

3Includes both short- and long-term capital gains.

Management

Gus C Zinn

Gus C. Zinn, CFA

  • Managing Director, Senior Portfolio Manager
  • Start date on the Fund: December 2021
  • Years of industry experience: 25
  • Read bio
Bradley J Warden

Bradley Warden, CFA

  • Managing Director, Senior Portfolio Manager
  • Start date on the Fund: October 2016
  • Years of industry experience: 26
  • Read bio

Fees

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering price none
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower none
Annual fund operating expenses
Management fees 0.79%
Distribution and service (12b-1) fees none
Other expenses 0.21%
Total annual fund operating expenses 1.00%

Please see the prospectus and SAI for additional information.

2Other expenses contain a 0.01% acquired fund fees and expenses. Acquired Fund Fees and Expenses sets forth the Fund's pro rata portion of the cumulative expenses charged by the registered investment companies (RICs) in which the Fund invested during the last fiscal year. The actual Acquired Fund Fees and Expenses will vary with changes in the allocations of the Fund's assets. The Acquired Fund Fees and Expenses shown are based on the total expense ratio of the RICs for the RICs' most recent fiscal period. These expenses are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's NAV.

1The Fund’s investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any acquired fund fees and expenses, taxes, interest, short sale dividend and interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 0.96% of the Fund’s average daily net assets from July 29, 2021 through July 29, 2022. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

Resources

Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund's prospectus and its summary prospectus, which may be obtained by visiting delawarefunds.com/literature or calling 877 693-3546. Investors should read the prospectus and the summary prospectus carefully before investing.

Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund's prospectus and its summary prospectus, which may be obtained by visiting delawarefunds.com/literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.

The Fund's investment manager, Delaware Management Company (Manager), may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Europe Limited (MIMEL), Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), and Macquarie Investment Management Global Limited (MIMGL) (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 DMC believes it will be beneficial to utilize an Affiliated Sub-Advisor’s specialized market knowledge.

Investing involves risk, including the possible loss of principal.

Because the Fund invests more than 25% of its total assets in the science and technology industry, the Fund’s performance may be more susceptible to a single economic, regulatory or technological occurrence than a fund that does not concentrate its investments in this industry.

“Non-diversified” funds may allocate more of their net assets to investments in single securities than “diversified” funds. Resulting adverse effects may subject these funds to greater risks and volatility.

Investment risks associated with investing in science and technology securities, in addition to other risks, include: operating in rapidly changing fields, abrupt or erratic market movements, limited product lines, markets or financial resources, management that is dependent on a limited number of people, short product cycles, aggressive pricing of products and services, new market entrants and obsolescence of existing technology.

Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis, and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics, have been and can be highly disruptive to economies and markets, adversely impacting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Portfolio’s investments. Given the increasing interdependence among global economies and markets, conditions in one country, market, or region are increasingly likely to adversely affect markets, issuers, and/or foreign exchange rates in other countries. These disruptions could prevent the Portfolio from executing advantageous investment decisions in a timely manner and could negatively impact the Portfolio’s ability to achieve its investment objective. Any such event(s) could have a significant adverse impact on the value and risk profile of the Portfolio.

Not FDIC Insured • No Bank Guarantee • May Lose Value

Nothing presented should be construed as a recommendation to purchase or sell any security or follow any investment technique or strategy.

You can check the background of your investment professional on FINRA's BrokerCheck.

You can check the background of your investment professional on FINRA's BrokerCheck.