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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 07/23/2021Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
1.1%
1 yr return
14.9%
3 Yr Avg Return
7.5%
5 Yr Avg Return
7.0%
Net Assets
$67.2 M
Holdings in Top 10
10.6%
Expense Ratio 0.59%
Front Load N/A
Deferred Load N/A
Turnover 127.00%
Redemption Fee N/A
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 07/23/2021Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Portfolio will primarily invest its assets at the time of purchase in: (1) below investment grade corporate bonds rated BB or lower by S&P or similarly rated by another NRSRO; (2) securities issued or guaranteed by the US government, its agencies or instrumentalities; or (3) commercial paper of companies rated A-1 or A-2 by S&P or rated P-1 or P-2 by Moody’s or that may be unrated but considered to be of comparable quality. Of these categories of securities, the Manager anticipates investing primarily in corporate bonds. The Portfolio may also invest in income-producing securities, including common stocks and preferred stocks, some of which may have convertible features or attached warrants and that may be speculative. The Portfolio may invest up to 40% of its net assets in foreign securities; however, the Portfolio’s total non-US-dollar currency exposure will be limited, in the aggregate, to no more than 25% of the Portfolio’s net assets, and investments in emerging market securities will be limited to 20% of the Portfolio’s net assets. The Portfolio may hold cash or invest in short-term debt securities and other money market instruments when, in the Manager’s opinion, such holdings are prudent given then prevailing market conditions. Except when the Manager believes a temporary defensive approach is appropriate, the Portfolio normally will not hold more than 5% of its total assets in cash or such short-term investments.
Under normal circumstances, the Portfolio will invest at least 80% of its net assets, plus any borrowings for investment purposes, in high yield, fixed income securities (80% Policy). The Portfolio’s 80% Policy may be changed without shareholder approval. However, shareholders will be given notice at least 60 days prior to any such change.
High yield, fixed income securities, or high yield bonds, are generally considered to be those rated lower than BBB- by S&P and lower than Baa3 by Moody’s, or similarly rated by another NRSRO. The Portfolio will generally focus its investments on bonds in the BB/Ba or B/B ratings categories and in unrated bonds of similar quality.
With respect to US government securities, the Portfolio may invest only in securities issued or guaranteed as to the payment of principal and interest by the US government, and those of its agencies or instrumentalities that are backed by the full faith and credit of the US.
The Manager does not normally intend to respond to short-term market fluctuations or to acquire securities for the purpose of short-term trading; however, the Manager may take advantage of short-term opportunities that are consistent with the Portfolio’s investment objective.
The Portfolio may invest in privately placed securities, including those that are eligible for resale only among certain institutional buyers without registration, which are commonly known as “Rule 144A Securities.” Restricted securities that are determined to be illiquid may not exceed the Portfolio’s limit on investments in illiquid investments.
In addition, the Manager may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Europe Limited, Macquarie Investment Management Austria Kapitalanlage AG, and Macquarie Investment Management Global Limited (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.
Period | DPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.1% | -69.0% | 12.3% | 44.66% |
1 Yr | 14.9% | -14.1% | 50.8% | 48.53% |
3 Yr | 7.5%* | -11.6% | 17.7% | 17.03% |
5 Yr | 7.0%* | -5.3% | 13.9% | 27.27% |
10 Yr | 6.1%* | 1.4% | 9.9% | 28.60% |
* Annualized
Period | DPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -2.3% | -75.1% | 399.1% | 78.45% |
2022 | 9.3% | -56.9% | 226.1% | 14.83% |
2021 | -11.2% | -61.3% | -0.4% | 92.30% |
2020 | 0.0% | -49.0% | 18.8% | 81.57% |
2019 | 7.0% | -25.2% | 28.6% | 62.61% |
Period | DPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.1% | -69.0% | 12.3% | 44.91% |
1 Yr | 14.9% | -16.7% | 57.3% | 41.73% |
3 Yr | 7.5%* | -11.6% | 16.5% | 16.47% |
5 Yr | 7.0%* | -5.3% | 13.2% | 25.69% |
10 Yr | 6.1%* | 1.4% | 9.9% | 26.36% |
* Annualized
Period | DPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -2.3% | -75.1% | 399.1% | 78.45% |
2022 | 9.3% | -56.9% | 23.9% | 16.92% |
2021 | -4.4% | -61.3% | 1.3% | 19.70% |
2020 | 7.6% | -49.0% | 18.8% | 6.53% |
2019 | 13.4% | -25.2% | 39.0% | 10.23% |
DPHYX | Category Low | Category High | DPHYX % Rank | |
---|---|---|---|---|
Net Assets | 67.2 M | 3.71 M | 29.6 B | 86.96% |
Number of Holdings | 232 | 1 | 2442 | 67.12% |
Net Assets in Top 10 | 7.13 M | -493 M | 3.93 B | 81.76% |
Weighting of Top 10 | 10.60% | 2.5% | 100.0% | 60.63% |
Weighting | Return Low | Return High | DPHYX % Rank | |
---|---|---|---|---|
Bonds | 92.26% | 0.00% | 147.88% | 64.02% |
Cash | 4.35% | -44.84% | 100.00% | 28.54% |
Other | 1.84% | -52.60% | 32.06% | 6.95% |
Convertible Bonds | 1.09% | 0.00% | 19.02% | 66.25% |
Preferred Stocks | 0.47% | 0.00% | 19.22% | 28.91% |
Stocks | 0.00% | -10.91% | 31.60% | 73.33% |
Weighting | Return Low | Return High | DPHYX % Rank | |
---|---|---|---|---|
Corporate | 95.57% | 0.00% | 100.00% | 47.33% |
Cash & Equivalents | 4.43% | 0.00% | 100.00% | 33.54% |
Derivative | 0.00% | 0.00% | 46.55% | 30.06% |
Securitized | 0.00% | 0.00% | 95.33% | 46.96% |
Municipal | 0.00% | 0.00% | 11.44% | 12.05% |
Government | 0.00% | 0.00% | 71.25% | 40.00% |
Weighting | Return Low | Return High | DPHYX % Rank | |
---|---|---|---|---|
US | 76.74% | 0.00% | 123.46% | 68.11% |
Non US | 15.52% | 0.00% | 97.21% | 27.05% |
DPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.59% | 0.01% | 4.79% | 76.40% |
Management Fee | 0.45% | 0.00% | 1.84% | 16.91% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.50% | N/A |
DPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 0.00% | 5.50% | N/A |
DPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
DPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 127.00% | 0.00% | 349.00% | 89.41% |
DPHYX | Category Low | Category High | DPHYX % Rank | |
---|---|---|---|---|
Dividend Yield | 9.90% | 0.00% | 3.95% | 13.14% |
DPHYX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annually | Quarterly | Monthly | Monthly |
DPHYX | Category Low | Category High | DPHYX % Rank | |
---|---|---|---|---|
Net Income Ratio | 5.07% | -2.17% | 10.53% | 44.88% |
DPHYX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 20, 2018 | $0.514 | |
Dec 20, 2017 | $0.572 | |
Dec 20, 2016 | $0.453 | |
Dec 18, 2015 | $0.370 | |
Dec 19, 2014 | $0.423 | |
Dec 19, 2013 | $0.543 | |
Dec 19, 2012 | $0.450 | |
Dec 19, 2011 | $0.583 | |
Dec 22, 2010 | $0.619 | |
Dec 17, 2009 | $0.662 | |
Dec 18, 2008 | $0.520 | |
Dec 19, 2007 | $0.578 | |
Dec 20, 2006 | $0.630 | |
Dec 21, 2005 | $0.051 | |
Nov 28, 2005 | $0.050 | |
Oct 26, 2005 | $0.050 | |
Sep 27, 2005 | $0.050 | |
Aug 25, 2005 | $0.050 | |
Jul 27, 2005 | $0.050 | |
Jun 27, 2005 | $0.050 | |
May 25, 2005 | $0.050 | |
Apr 27, 2005 | $0.050 | |
Mar 25, 2005 | $0.050 | |
Feb 25, 2005 | $0.050 | |
Jan 26, 2005 | $0.050 | |
Dec 22, 2004 | $0.200 | |
Nov 26, 2004 | $0.050 | |
Oct 27, 2004 | $0.050 | |
Sep 27, 2004 | $0.050 | |
Aug 25, 2004 | $0.050 | |
Jul 27, 2004 | $0.050 | |
Jun 25, 2004 | $0.050 | |
May 26, 2004 | $0.050 | |
Apr 27, 2004 | $0.050 | |
Mar 25, 2004 | $0.050 | |
Feb 25, 2004 | $0.050 | |
Jan 27, 2004 | $0.050 | |
Dec 18, 2003 | $0.108 | |
Nov 26, 2003 | $0.050 | |
Oct 27, 2003 | $0.050 | |
Sep 25, 2003 | $0.050 | |
Aug 27, 2003 | $0.050 | |
Jul 25, 2003 | $0.050 | |
Jun 25, 2003 | $0.050 | |
May 27, 2003 | $0.050 | |
Apr 25, 2003 | $0.050 | |
Mar 26, 2003 | $0.050 | |
Feb 26, 2003 | $0.050 | |
Jan 27, 2003 | $0.050 | |
Dec 18, 2002 | $0.090 | |
Nov 27, 2002 | $0.050 | |
Oct 25, 2002 | $0.050 | |
Sep 25, 2002 | $0.050 | |
Aug 27, 2002 | $0.050 | |
Jul 25, 2002 | $0.050 | |
Jun 26, 2002 | $0.050 | |
May 28, 2002 | $0.050 | |
Apr 25, 2002 | $0.050 | |
Mar 27, 2002 | $0.050 | |
Feb 27, 2002 | $0.050 | |
Jan 25, 2002 | $0.050 | |
Dec 19, 2001 | $0.170 | |
Nov 27, 2001 | $0.050 | |
Oct 25, 2001 | $0.050 | |
Sep 26, 2001 | $0.050 | |
Aug 27, 2001 | $0.050 | |
Jul 25, 2001 | $0.050 | |
Jun 27, 2001 | $0.050 | |
May 25, 2001 | $0.050 | |
Apr 25, 2001 | $0.050 | |
Mar 27, 2001 | $0.050 | |
Feb 27, 2001 | $0.050 | |
Jan 25, 2001 | $0.050 | |
Nov 28, 2000 | $0.050 | |
Oct 25, 2000 | $0.050 | |
Sep 27, 2000 | $0.050 | |
Aug 25, 2000 | $0.050 | |
Jul 26, 2000 | $0.050 | |
Jun 27, 2000 | $0.050 | |
May 25, 2000 | $0.050 | |
Apr 26, 2000 | $0.050 | |
Mar 27, 2000 | $0.050 | |
Feb 25, 2000 | $0.050 | |
Jan 26, 2000 | $0.050 | |
Dec 22, 1999 | $0.054 | |
Nov 26, 1999 | $0.050 | |
Oct 27, 1999 | $0.050 | |
Sep 27, 1999 | $0.050 | |
Aug 25, 1999 | $0.050 | |
Jul 27, 1999 | $0.050 | |
Jun 25, 1999 | $0.050 | |
May 26, 1999 | $0.050 | |
Apr 29, 1999 | $0.050 | |
Mar 29, 1999 | $0.050 | |
Mar 01, 1999 | $0.050 | |
Jan 29, 1999 | $0.050 | |
Dec 28, 1998 | $0.450 | |
Nov 30, 1998 | $0.050 | |
Oct 29, 1998 | $0.050 | |
Sep 29, 1998 | $0.050 | |
Aug 24, 1998 | $0.050 | |
Jul 29, 1998 | $0.050 | |
Jun 29, 1998 | $0.050 | |
May 26, 1998 | $0.050 | |
Apr 29, 1998 | $0.050 | |
Mar 27, 1998 | $0.050 | |
Feb 23, 1998 | $0.050 | |
Jan 23, 1998 | $0.050 | |
Dec 23, 1997 | $0.340 | |
Dec 01, 1997 | $0.050 | |
Nov 07, 1997 | $0.050 | |
Sep 08, 1997 | $0.050 | |
Aug 07, 1997 | $0.050 | |
Jul 08, 1997 | $0.050 | |
Jun 06, 1997 | $0.050 | |
May 07, 1997 | $0.050 | |
Apr 07, 1997 | $0.050 |
Start Date
Tenure
Tenure Rank
Dec 04, 2012
8.58
8.6%
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.
Start Date
Tenure
Tenure Rank
Nov 06, 2014
6.65
6.7%
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.06 | 36.88 | 6.8 | 2.0 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
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