Macquarie VIP International Core Equity Series

Macquarie VIP International Core Equity Series(formerly, Delaware Ivy VIP International Core Equity)

Key features

Core investment style with long-term view to take advantage of short-term market dislocations

Invests in the highest conviction investment opportunities, with a focus on durable growth and quality cyclicals

Active, risk-optimized portfolio management that strives to generate consistent results in most market environments

Daily pricing as of 11/20/2024

NAV
$16.63
NAV 1-day net change
-0.04
Max offer price
$16.63

Total net assets as of 10/31/2024

All share classes
$768.3 million

Overview

Series information
Inception date 05/01/1992
Dividends paid (if any) Annual
Series identifiers
CUSIP 46600H869

Benchmark

MSCI ACWI (All Country World Index) ex USA 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
1.17%
Net
1.11%

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
15.65%
2022
-14.32%
2021
14.18%
2020
7.19%
2019
18.69%
2018
-17.81%
2017
23.16%
2016
1.08%
2015
-0.94%
2014
1.45%

Portfolio

Portfolio characteristics as of 10/31/2024

Number of holdings
61
Market cap (median) Source: FactSet
$39.7 billion
Market cap (weighted average) Source: FactSet
$107.3 billion
Portfolio turnover (last fiscal year)
53%
Beta (relative to MSCI ACWI ex USA (Net)) (view definition)
1.02
Annualized standard deviation, 3 years (view definition)
17.59

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

International equities & depositary receipts
93.7%
Domestic equities
5.3%
Cash, cash equivalents and other assets
1.1%

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
TAIWAN SEMICONDUCTOR MANUFACTURING CO LT
4.80
MERCADOLIBRE INC
3.52
SAP SE
3.18
THALES SA
2.73
KB FINANCIAL GROUP INC
2.59
SEA LTD
2.58
BANCO BILBAO VIZCAYA ARGENTARIA SA
2.34
TENCENT HOLDINGS LTD
2.30
COMPASS GROUP PLC
2.19
DOLLARAMA GP INC
2.17

Total % Portfolio in Top 10 holdings - 28.40%

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
19.8%
Industrials
16.2%
Consumer discretionary
14.7%
Information technology
13.1%
Healthcare
12.1%
Communication services
9.4%
Consumer staples
6.0%
Materials
3.5%
Energy
2.7%
Utilities
1.3%

Credit quality as of //

Rating
Series
Rating
Series

Management

Aditya Kapoor

Aditya Kapoor, CFA

  • Managing Director, Senior Portfolio Manager
  • Start date on the Fund: November 2021
  • Years of industry experience: 17
  • Read bio
Charles John

Charles John, CFA

  • Managing Director, Senior Portfolio Manager
  • Start date on the Fund: November 2021
  • Years of industry experience: 17
  • Read bio
Charles Trey Schorgl

Trey Schorgl, CFA

  • Managing Director, Senior Portfolio Manager
  • Start date on the Fund: July 2023
  • Years of industry experience: 14
  • Read bio

Fees

Annual portfolio operating expenses
Management fees 0.85%
Distribution and service (12b-1) fees 0.25%
Other expenses 0.07%
Total annual series operating expenses 1.17%
Fee waivers and expense reimbursements1 (0.06%)
Total annual series operating expenses after fee waivers and expense reimbursements 1.11%

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.

Resources

Effective May 1, 2024, Class I was renamed Standard Class and Class II was renamed Service Class.

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.

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.

Investing involves risk, including the possible loss of principal.

International investments entail risks including fluctuation in currency values, differences in accounting principles, or economic or political instability. Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility, lower trading volume, and higher risk of market closures. In many emerging markets, there is substantially less publicly available information and the available information may be incomplete or misleading. Legal claims are generally more difficult to pursue.

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.

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.

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