Macquarie VIP Growth and Income Series

Macquarie VIP Growth and Income Series(formerly, Delaware VIP® Growth and Income Series)

Key features

An investment approach which is backed by data and science, removing emotional biases inherent in stock picking

A diversified portfolio focused on high quality companies with strong and growing dividends

Aims to consistently deliver returns in excess of the benchmark through various market conditions

Daily pricing as of 11/22/2024

NAV
$36.71
NAV 1-day net change
0.28
Max offer price
$36.71

Total net assets as of 10/31/2024

All share classes
$693.9 million

Overview

Series information
Inception date 11/09/1987
Dividends paid (if any) Annual
Capital gains paid (if any) Annually
Series identifiers
CUSIP 246493472

Benchmark

Russell 1000® Value Index (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 (as applicable) 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 (10/31/2024)

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 (09/30/2024)

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.

Expense ratio

Gross
0.75%
Net
0.72%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from May 1, 2024 through April 30, 2025. Please see the fee table in the Series' prospectus for more information.

The performance and expense ratio information shown represent the performance and fees as they relate to actual shares of the Series. These examples do not include any fees or sales charges imposed by the variable insurance contract for which the Series is an investment option. If they were included, your costs would be higher and performance would be lower. Investors should consult the contract prospectus or disclosure documents for more information.

Calendar year total returns @ NAV

Year
Annual return
Year
Annual return
2023
12.11%
2022
3.53%
2021
22.20%
2020
-0.46%
2019
25.60%
2018
-10.17%
2017
18.28%
2016
9.88%
2015
-3.12%
2014
7.64%

Portfolio

Portfolio characteristics as of 10/31/2024

Number of holdings
67
Market cap (median) Source: FactSet
$70.9 billion
Market cap (weighted average) Source: FactSet
$210.8 billion
Portfolio turnover (last fiscal year)
31%
Beta (relative to Russell 1000 Value Index) (view definition)
0.93
SEC 30-day yield with waiver (view definition)
2.43%
SEC 30-day yield without waiver (view definition)
2.43%
Annualized standard deviation, 3 years (view definition)
16.36

Portfolio composition as of 10/31/2024
Total may not equal 100% due to rounding.

Domestic equities
95.2%
International equities & depositary receipts
3.6%
Cash, cash equivalents and other assets
1.3%

Top 10 holdings as of 10/31/2024

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

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

Holdings based by issuer.

Holding
% of portfolio
Holding
% of portfolio
EXXON MOBIL CORP
5.60
PHILIP MORRIS INTERNATIONAL INC
5.16
CISCO SYSTEMS INC
4.00
GILEAD SCIENCES INC
3.76
CIGNA HOLDING CO
3.69
BRISTOL-MYERS SQUIBB CO
3.51
COMCAST CORPORATION
2.77
MERCK & CO INC
2.66
VERIZON COMMUNICATIONS INC
2.61
PNC FINANCIAL SERVICES GROUP INC (THE)
2.48

Total % Portfolio in Top 10 holdings - 36.24%

List of monthly holdingsList of quarterly holdings

Sector allocation as of 10/31/2024

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

Sector
% of portfolio
Sector
% of portfolio
Financials
24.6%
Healthcare
18.7%
Information technology
11.9%
Communication services
11.7%
Energy
8.9%
Industrials
8.6%
Consumer staples
7.1%
Consumer discretionary
6.7%
Real estate
0.6%

Management

Benjamin Leung

Benjamin Leung, CFA

  • Managing Director, Head of Systematic Investments, Portfolio Manager
  • Start date on the Fund: January 2021
  • Years of industry experience: 22
  • Read bio
Samir Vanza

Samir Vanza, CFA

  • Senior Vice President, Head of Quantitative Research, Portfolio Manager
  • Start date on the Fund: August 2024
  • Years of industry experience: 19
  • Read bio

Fees

Annual portfolio operating expenses
Management fees 0.65%
Distribution and service (12b-1) fees none
Other expenses 0.10%
Total annual series operating expenses 0.75%
Fee waivers and expense reimbursements1 (0.03%)
Total annual series operating expenses after fee waivers and expense reimbursements 0.72%

Please see the prospectus and SAI for additional information.

1Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from May 1, 2024 through April 30, 2025. Please see the fee table in the Series' prospectus for more information.

1The Series' 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 series operating expenses from exceeding 0.72% of the Series' average daily net assets from April 30, 2021 through April 30, 2022. These waivers and reimbursements may only be terminated by agreement of the Manager and the Series.

Resources

Significant Fund Event

Effective August 15, 2024, Benjamin Leung and Samir Vanza serve as portfolio managers of the Series.

The Series' investment manager, Delaware Management Company (Manager), may permit its affiliate, Macquarie Investment Management Global Limited (MIMGL), to execute Series security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

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

Investing involves risk, including the possible loss of principal.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

Stock prices may decline over short or even extended periods due to general economic and market conditions, adverse political or regulatory developments or interest rate fluctuations. While dividend-paying stocks are generally considered less volatile than other stocks, there can be no guarantee that an investment therein will be less volatile than the general stock market. The Series' investments in potential growth opportunities may increase the potential volatility of its share price. Adverse market events may lead in increased redemptions, which could cause the Series to experience a loss or difficulty in selling securities to meet redemptions.

The Series seeks to invest in securities that are undervalued and that will rise in value due to anticipated events or changes in investor perceptions. If these developments do not occur, the market price of these securities may not rise as expected or may fall.

At times, the Series may not be able to identify attractive dividend-paying stocks. The income received by the Series will also fluctuate due to the amount of dividends that companies elect to pay, which could adversely affect the Series' ability to pay dividends and its share price.

The risk that the securities selected by a series' management will underperform the markets, the relevant indices, or the securities selected by other funds with similar investment objectives and investment strategies. The securities and sectors selected may vary from the securities and sectors included in the relevant index.

In addition to the risks associated with the real estate industry, which include declines in the real estate market, decreases in property revenues and increases in property taxes and operating expenses, REITs are subject to additional risks, including those related to adverse governmental actions, declines in property value, and the potential failure to qualify for federal tax-free "pass-though" of distributed net income and net realized gains and exemption from registration as an investment company. REITs are dependent upon specialized management skills and may invest in relatively few properties, a small geographic area or a small number of property types. As a result, investments in REITs may be volatile. REITs are pooled investment vehicles with their own fees and expenses, and the Series will indirectly bear a proportionate share of those fees and expenses.

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 Series’ 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 Series from executing advantageous investment decisions in a timely manner and could negatively impact the Series’ ability to achieve its investment objective. Any such event(s) could have a significant adverse impact on the value and risk profile of the Series.

All third-party marks cited are the property of their respective owners.

Macquarie VIP Funds are not available for direct investment except for issuers of variable insurance product contracts. They are available only through the purchase of certain variable insurance products.

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.