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DELAWARE HIGH-YIELD OPPORTUNITIES FUND
mutual fund
DHOIX
Payout Change
Suspended
Price as of:
$3.38
+0.01
+0.3%
primary theme
High Yield Bond
share class
DHOIX (Mutual Fund)
DELAWARE HIGH-YIELD OPPORTUNITIES FUND
Payout Change
Suspended
Price as of:
$3.38
+0.01
+0.3%
primary theme
High Yield Bond
share class
DHOIX (Mutual Fund)
DELAWARE HIGH-YIELD OPPORTUNITIES FUND
Payout Change
Suspended
Price as of:
$3.38
+0.01
+0.3%
primary theme
High Yield Bond
share class
Name
As of 04/26/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-0.2%
1 yr return
8.3%
3 Yr Avg Return
1.4%
5 Yr Avg Return
3.9%
Net Assets
$463 M
Holdings in Top 10
11.1%
52 WEEK LOW AND HIGH
$3.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.86%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 91.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/26/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
DHOIX - Profile
Distributions
- YTD Total Return -0.2%
- 3 Yr Annualized Total Return 1.4%
- 5 Yr Annualized Total Return 3.9%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio 4.80%
- Dividend Yield 6.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameDELAWARE HIGH-YIELD OPPORTUNITIES FUND
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateMar 10, 1998
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn McCarthy
Fund Description
Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in fixed income securities rated at the time of purchase lower than BBB- by Standard & Poor’s Financial Services LLC (S&P), Baa3 by Moody’s Investors Services, Inc. (Moody’s), or similarly rated by another nationally recognized statistical rating organization (NRSRO) (80% policy). These are commonly known as high yield bonds or “junk bonds” and involve greater risks than investment grade bonds. The Fund may also invest in unrated bonds that the Manager determines to be of comparable quality. Unrated bonds may be more speculative in nature than rated bonds. The Fund may also invest in US and foreign government securities and corporate bonds of foreign issuers. The Fund may invest up to 40% of its net assets in foreign securities; however, the Fund’s total non-US-dollar currency exposure will be limited, in the aggregate, to no more than 25% of the Fund’s net assets, and investments in emerging market securities will be limited to 20% of the Fund’s net assets. In selecting bonds for the portfolio, the Manager evaluates the income provided by the bond and the bond’s appreciation potential as well as the issuer’s ability to make income and principal payments.
In addition, the Manager may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), Macquarie Investment Management Europe Limited (MIMEL), 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 the Manager believes it will be beneficial to utilize an Affiliated Sub-Advisor's specialized market knowledge.
The 80% policy is nonfundamental and may be changed without shareholder approval. Fund shareholders would be given at least 60 days’ notice prior to any such change.
DHOIX - Performance
Return Ranking - Trailing
| Period | DHOIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.2% | -7.4% | 17.9% | 97.54% |
| 1 Yr | 8.3% | -5.1% | 18.3% | 88.83% |
| 3 Yr | 1.4%* | -14.4% | 21.6% | 88.83% |
| 5 Yr | 3.9%* | -11.6% | 37.1% | 41.10% |
| 10 Yr | 3.3%* | -4.6% | 20.5% | 85.07% |
* Annualized
Return Ranking - Calendar
| Period | DHOIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.8% | -4.7% | 14.3% | 35.57% |
| 2022 | -15.7% | -33.4% | 3.6% | 52.65% |
| 2021 | 0.3% | -8.4% | 8.2% | 41.24% |
| 2020 | 1.6% | -13.2% | 302.7% | 16.81% |
| 2019 | 9.8% | -4.4% | 13.3% | 8.93% |
Total Return Ranking - Trailing
| Period | DHOIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.2% | -7.4% | 17.9% | 97.54% |
| 1 Yr | 8.3% | -5.1% | 18.3% | 88.83% |
| 3 Yr | 1.4%* | -14.4% | 21.6% | 88.83% |
| 5 Yr | 3.9%* | -11.6% | 37.1% | 41.10% |
| 10 Yr | 3.3%* | -4.6% | 20.5% | 85.07% |
* Annualized
Total Return Ranking - Calendar
| Period | DHOIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.8% | -4.7% | 18.7% | 11.64% |
| 2022 | -10.3% | -33.4% | 47.8% | 42.05% |
| 2021 | 5.8% | -8.4% | 12.4% | 34.02% |
| 2020 | 7.7% | -9.6% | 325.6% | 13.45% |
| 2019 | 16.2% | -3.8% | 19.4% | 8.56% |
NAV & Total Return History
DHOIX - Holdings
Concentration Analysis
| DHOIX | Category Low | Category High | DHOIX % Rank | |
|---|---|---|---|---|
| Net Assets | 463 M | 3.13 M | 25.3 B | 56.37% |
| Number of Holdings | 205 | 2 | 3879 | 76.19% |
| Net Assets in Top 10 | 52 M | -492 M | 5.25 B | 65.85% |
| Weighting of Top 10 | 11.12% | 4.2% | 146.0% | 67.98% |
Top 10 Holdings
- Royal Caribbean Cruises Ltd 1.27%
- CCO Holdings LLC / CCO Holdings Capital Corp 1.19%
- Gray Television Inc 1.13%
- AerCap Holdings NV 1.13%
- Connect Finco SARL / Connect US Finco LLC 1.11%
- Murphy Oil Corp 1.10%
- UKG Inc 1.08%
- Vistra Corp 1.06%
- United Rentals North America Inc 1.04%
- Boyd Gaming Corp 1.02%
Asset Allocation
| Weighting | Return Low | Return High | DHOIX % Rank | |
|---|---|---|---|---|
| Bonds | 96.91% | 0.00% | 145.36% | 30.72% |
| Cash | 3.51% | -52.00% | 48.02% | 55.50% |
| Convertible Bonds | 1.31% | 0.00% | 17.89% | 39.74% |
| Stocks | 0.04% | 0.00% | 97.54% | 67.48% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 47.13% |
| Other | 0.00% | -39.08% | 99.86% | 56.98% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | DHOIX % Rank | |
|---|---|---|---|---|
| Consumer Cyclical | 100.00% | 0.00% | 100.00% | 0.89% |
| Utilities | 0.00% | 0.00% | 100.00% | 32.05% |
| Technology | 0.00% | 0.00% | 33.17% | 33.23% |
| Real Estate | 0.00% | 0.00% | 86.71% | 25.82% |
| Industrials | 0.00% | 0.00% | 93.12% | 37.39% |
| Healthcare | 0.00% | 0.00% | 22.17% | 20.77% |
| Financial Services | 0.00% | 0.00% | 100.00% | 32.05% |
| Energy | 0.00% | 0.00% | 100.00% | 78.04% |
| Communication Services | 0.00% | 0.00% | 99.99% | 56.68% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 23.74% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 33.53% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | DHOIX % Rank | |
|---|---|---|---|---|
| US | 0.04% | 0.00% | 97.54% | 65.68% |
| Non US | 0.00% | -0.01% | 0.83% | 26.44% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | DHOIX % Rank | |
|---|---|---|---|---|
| Corporate | 96.52% | 0.00% | 100.00% | 34.38% |
| Cash & Equivalents | 3.51% | 0.00% | 48.02% | 47.29% |
| Municipal | 0.81% | 0.00% | 1.17% | 2.47% |
| Derivative | 0.00% | -14.58% | 42.26% | 43.51% |
| Securitized | 0.00% | 0.00% | 97.24% | 50.99% |
| Government | 0.00% | 0.00% | 99.07% | 39.31% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | DHOIX % Rank | |
|---|---|---|---|---|
| US | 96.91% | 0.00% | 126.57% | 22.33% |
| Non US | 0.00% | 0.00% | 96.91% | 48.77% |
DHOIX - Expenses
Operational Fees
| DHOIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.86% | 0.02% | 38.33% | 59.51% |
| Management Fee | 0.65% | 0.00% | 1.75% | 73.98% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| DHOIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| DHOIX 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.
| DHOIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 91.00% | 1.00% | 255.00% | 83.66% |
DHOIX - Distributions
Dividend Yield Analysis
| DHOIX | Category Low | Category High | DHOIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.75% | 0.00% | 11.76% | 46.66% |
Dividend Distribution Analysis
| DHOIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| DHOIX | Category Low | Category High | DHOIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.80% | -2.39% | 9.30% | 27.76% |
Capital Gain Distribution Analysis
| DHOIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Semi-Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 28, 2024 | $0.019 | OrdinaryDividend |
| Feb 29, 2024 | $0.018 | OrdinaryDividend |
| Jan 31, 2024 | $0.019 | OrdinaryDividend |
| Dec 29, 2023 | $0.019 | OrdinaryDividend |
| Nov 30, 2023 | $0.026 | OrdinaryDividend |
| Oct 31, 2023 | $0.019 | OrdinaryDividend |
| Sep 29, 2023 | $0.018 | OrdinaryDividend |
| Aug 31, 2023 | $0.018 | OrdinaryDividend |
| Jul 31, 2023 | $0.019 | OrdinaryDividend |
| Jun 30, 2023 | $0.018 | OrdinaryDividend |
| May 31, 2023 | $0.018 | OrdinaryDividend |
| Apr 28, 2023 | $0.018 | OrdinaryDividend |
| Mar 31, 2023 | $0.019 | OrdinaryDividend |
| Feb 28, 2023 | $0.016 | OrdinaryDividend |
| Jan 31, 2023 | $0.018 | OrdinaryDividend |
| Dec 30, 2022 | $0.018 | OrdinaryDividend |
| Nov 30, 2022 | $0.019 | OrdinaryDividend |
| Oct 31, 2022 | $0.017 | OrdinaryDividend |
| Sep 30, 2022 | $0.016 | OrdinaryDividend |
| Aug 31, 2022 | $0.017 | OrdinaryDividend |
| Jul 29, 2022 | $0.017 | OrdinaryDividend |
| Jun 30, 2022 | $0.016 | OrdinaryDividend |
| May 31, 2022 | $0.017 | OrdinaryDividend |
| Apr 29, 2022 | $0.016 | OrdinaryDividend |
| Mar 31, 2022 | $0.017 | OrdinaryDividend |
| Feb 28, 2022 | $0.015 | OrdinaryDividend |
| Jan 31, 2022 | $0.016 | OrdinaryDividend |
| Dec 31, 2021 | $0.016 | OrdinaryDividend |
| Nov 30, 2021 | $0.016 | OrdinaryDividend |
| Nov 22, 2021 | $0.001 | CapitalGainLongTerm |
| Oct 29, 2021 | $0.016 | OrdinaryDividend |
| Sep 30, 2021 | $0.015 | OrdinaryDividend |
| Aug 31, 2021 | $0.016 | OrdinaryDividend |
| Jul 30, 2021 | $0.016 | OrdinaryDividend |
| Jun 30, 2021 | $0.016 | OrdinaryDividend |
| May 28, 2021 | $0.017 | OrdinaryDividend |
| Apr 30, 2021 | $0.016 | OrdinaryDividend |
| Mar 31, 2021 | $0.016 | OrdinaryDividend |
| Feb 26, 2021 | $0.016 | OrdinaryDividend |
| Jan 29, 2021 | $0.016 | OrdinaryDividend |
| Dec 31, 2020 | $0.017 | OrdinaryDividend |
| Nov 30, 2020 | $0.016 | OrdinaryDividend |
| Nov 20, 2020 | $0.012 | OrdinaryDividend |
| Oct 30, 2020 | $0.021 | OrdinaryDividend |
| Sep 22, 2020 | $0.015 | OrdinaryDividend |
| Aug 21, 2020 | $0.017 | OrdinaryDividend |
| Jul 22, 2020 | $0.016 | OrdinaryDividend |
| Jun 22, 2020 | $0.016 | OrdinaryDividend |
| May 22, 2020 | $0.017 | OrdinaryDividend |
| Apr 22, 2020 | $0.017 | OrdinaryDividend |
| Mar 20, 2020 | $0.016 | OrdinaryDividend |
| Feb 21, 2020 | $0.018 | OrdinaryDividend |
| Jan 22, 2020 | $0.017 | OrdinaryDividend |
| Dec 20, 2019 | $0.016 | OrdinaryDividend |
| Nov 22, 2019 | $0.019 | OrdinaryDividend |
| Oct 22, 2019 | $0.017 | OrdinaryDividend |
| Sep 20, 2019 | $0.017 | OrdinaryDividend |
| Aug 22, 2019 | $0.017 | OrdinaryDividend |
| Jul 22, 2019 | $0.017 | OrdinaryDividend |
| Nov 21, 2014 | $0.058 | CapitalGainLongTerm |
| Jan 21, 2005 | $0.032 | OrdinaryDividend |
| Dec 22, 2004 | $0.026 | OrdinaryDividend |
| Nov 22, 2004 | $0.028 | OrdinaryDividend |
| Oct 22, 2004 | $0.035 | OrdinaryDividend |
| Sep 22, 2004 | $0.028 | OrdinaryDividend |
| Aug 20, 2004 | $0.027 | OrdinaryDividend |
| Jul 22, 2004 | $0.027 | OrdinaryDividend |
| Jun 22, 2004 | $0.029 | OrdinaryDividend |
| May 21, 2004 | $0.030 | OrdinaryDividend |
| Apr 22, 2004 | $0.030 | OrdinaryDividend |
| Mar 22, 2004 | $0.030 | OrdinaryDividend |
| Feb 20, 2004 | $0.032 | OrdinaryDividend |
| Jan 22, 2004 | $0.027 | OrdinaryDividend |
| Dec 22, 2003 | $0.030 | OrdinaryDividend |
| Nov 21, 2003 | $0.033 | OrdinaryDividend |
| Oct 22, 2003 | $0.027 | OrdinaryDividend |
| Sep 22, 2003 | $0.029 | OrdinaryDividend |
| Aug 22, 2003 | $0.029 | OrdinaryDividend |
| Jul 22, 2003 | $0.032 | OrdinaryDividend |
| Jun 20, 2003 | $0.032 | OrdinaryDividend |
| May 22, 2003 | $0.029 | OrdinaryDividend |
| Apr 22, 2003 | $0.031 | OrdinaryDividend |
| Mar 21, 2003 | $0.028 | OrdinaryDividend |
| Feb 21, 2003 | $0.029 | OrdinaryDividend |
| Jan 22, 2003 | $0.031 | OrdinaryDividend |
| Dec 20, 2002 | $0.034 | OrdinaryDividend |
| Nov 22, 2002 | $0.032 | OrdinaryDividend |
| Oct 22, 2002 | $0.032 | OrdinaryDividend |
| Sep 20, 2002 | $0.030 | OrdinaryDividend |
| Aug 22, 2002 | $0.031 | OrdinaryDividend |
| Jul 22, 2002 | $0.031 | OrdinaryDividend |
| Jun 24, 2002 | $0.029 | OrdinaryDividend |
| May 22, 2002 | $0.026 | OrdinaryDividend |
| Apr 22, 2002 | $0.029 | OrdinaryDividend |
| Mar 22, 2002 | $0.029 | OrdinaryDividend |
| Feb 22, 2002 | $0.029 | OrdinaryDividend |
| Jan 22, 2002 | $0.036 | OrdinaryDividend |
| Dec 21, 2001 | $0.036 | OrdinaryDividend |
| Nov 21, 2001 | $0.036 | OrdinaryDividend |
| Feb 22, 2001 | $0.036 | OrdinaryDividend |
| Nov 20, 1998 | $0.085 | CapitalGainShortTerm |
| Nov 20, 1998 | $0.020 | CapitalGainLongTerm |
DHOIX - Fund Manager Analysis
Managers
John McCarthy
Start Date
Tenure
Tenure Rank
Dec 04, 2012
9.49
9.5%
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.
Adam Brown
Start Date
Tenure
Tenure Rank
Nov 06, 2014
7.57
7.6%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
