Macquarie VIP Small Cap Value Series

Macquarie VIP Small Cap Value Series(formerly, Delaware VIP® Small Cap Value Series)

Key features

Stocks are selected by an experienced team of sector specialists focused on value investing

Focus on a company’s ability to effectively deploy and generate sustainable free-cash flow

A disciplined investment process with a focus on risk mitigation that has been consistently applied

Daily pricing as of 11/22/2024

NAV
$43.77
NAV 1-day net change
0.70
Max offer price
$43.77

Total net assets as of 10/31/2024

All share classes
$1.7 billion

Overview

Series information
Inception date 05/01/2000
Dividends paid (if any) Annual
Capital gains paid (if any) Annually
Series identifiers
CUSIP 246493688

Benchmark

Russell 2000® 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
1.08%
Net
1.08%

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
9.10%
2022
-12.35%
2021
34.02%
2020
-2.18%
2019
27.72%
2018
-16.95%
2017
11.76%
2016
31.09%
2015
-6.46%
2014
5.62%

Portfolio

Portfolio characteristics as of 10/31/2024

Number of holdings
107
Market cap (median) Source: FactSet
$4.8 billion
Market cap (weighted average) Source: FactSet
$6.0 billion
Portfolio turnover (last fiscal year)
29%
Beta (relative to Russell 2000 Value Index) (view definition)
0.92
Annualized standard deviation, 3 years (view definition)
21.52

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

Domestic equities
94.4%
Cash, cash equivalents and other assets
2.9%
International equities & depositary receipts
2.6%

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
EAST WEST BANCORP INC.
2.04
WEBSTER FINANCIAL CORPORATION
1.85
STIFEL FINANCIAL CORP
1.84
HANCOCK WHITNEY CORP
1.78
SYNOVUS FINANCIAL CORP
1.74
COLUMBIA BANKING SYSTEM INC.
1.72
ITT INC
1.63
F.N.B CORP
1.62
AXIS CAPITAL HOLDINGS LTD
1.61
CACI INTERNATIONAL INC
1.59

Total % Portfolio in Top 10 holdings - 17.42%

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
Financial services
28.0%
Industrials
15.6%
Consumer discretionary
10.9%
REITs
8.7%
Basic industry
7.6%
Technology
7.2%
Energy
6.5%
Utilities
4.2%
Healthcare
3.3%
Consumer staples
2.8%
Transportation
2.2%

Management

Kelley Carabasi

Kelley Carabasi, CFA

  • Managing Director, Co-Head of US Small-Mid Cap Value
  • Read bio
Kent P Madden

Kent Madden, CFA

  • Managing Director, Co-Head of US Small-Mid Cap Value
  • Start date on the Fund: July 2012
  • Years of industry experience: 28
  • Read bio
Michael Foley

Michael Foley, CFA

  • Managing Director, Senior Portfolio Manager – US Small-Mid Cap Value Equity
  • Start date on the Fund: July 2019
  • Years of industry experience: 15
  • Read bio

Fees

Annual portfolio operating expenses
Management fees 0.70%
Distribution and service (12b-1) fees 0.30%
Other expenses 0.08%
Total annual series operating expenses 1.08%
Fee waivers and expense reimbursements none
Total annual series operating expenses after fee waivers and expense reimbursements 1.08%

Please see the prospectus and SAI for additional information.

Resources

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.

Investments in small and/or medium-sized companies typically exhibit greater risk and higher volatility than larger, more established companies.

Narrowly focused investments may exhibit higher volatility than investments in multiple industry sectors.

REIT investments are subject to many of the risks associated with direct real estate ownership, including changes in economic conditions, credit risk, and interest rate fluctuations.

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.