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Delaware Ivy International Value Fund
ICDAX (Mutual Fund)
Delaware Ivy International Value Fund
Name
As of 05/03/2024Price
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
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$92.7 M
Holdings in Top 10
32.4%
52 WEEK LOW AND HIGH
$14.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.79%
SALES FEES
Front Load 5.75%
Deferred Load N/A
TRADING FEES
Turnover 119.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$750
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/03/2024Price
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
ICDAX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.13%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDelaware Ivy International Value Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateJun 18, 2002
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerClaus Juul
Fund Description
Delaware Ivy International Value Fund seeks to achieve its objective by investing at least 80% of its net assets in equity securities of issuers that are organized, have a majority of their assets, or generate the majority of their operating income outside the United States. The Fund generally invests up to 15% of its portfolio in emerging markets. The Fund may invest more than 25% of its total assets in the securities of issuers located in the same country. The Fund’s portfolio generally will consist of 60 to 80 stocks identified through a research-driven, bottom-up security selection process based on fundamental research, with relative sizing based on valuation, risk and diversification. The Fund is nondiversified, meaning that it may invest a significant portion of its total assets in a limited number of issuers.
The portfolio management team searches for undervalued companies that have potential for improvement that has not yet been recognized by others in the marketplace. These opportunities may exist because of temporary company-specific problems or because the companies are in industries that may be out of favor. The portfolio management team believes that the potential for strong returns can be realized by assembling an international portfolio of fundamentally strong companies that have superior business prospects and that are priced below the team’s estimate of intrinsic value. The portfolio management team focuses on out-of-favor stocks that have the potential to realize their intrinsic value within a three- to five-year horizon.
In selecting investments for the Fund:
·Fundamental research and analysis are the driving forces behind each security chosen by the portfolio management team. Security selection is based on relative value comparisons, applying the team’s understanding of industry cycles, global competitors, and company-specific variables. The investment process combines quantitative valuation screens with traditional in-depth fundamental analysis, experienced judgment, and patience.
·The portfolio management team places great emphasis on those securities it believes can offer the best long-term appreciation within a three- to five-year horizon. The team constructs the portfolio on a stock-by-stock basis, and the holdings are diversified across market capitalization, geography, and economic sector.
·The Fund may invest in the consumer staples sector. The consumer staples sector consists of companies that are involved in areas such as the production, manufacture, distribution, or sale of, consumer goods and services that have non-cyclical characteristics, such as food and beverage, household goods, personal products, and non-discretionary retail.
Delaware Management Company (Manager), the Fund's investment manager, may permit its affiliate, Macquarie Investment Management Global Limited (MIMGL), to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.
ICDAX - Performance
Return Ranking - Trailing
| Period | ICDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -2.2% | 20.4% | 69.23% |
| 1 Yr | N/A | -2.4% | 25.6% | 98.46% |
| 3 Yr | N/A* | -3.2% | 81.0% | 97.12% |
| 5 Yr | N/A* | 0.3% | 45.8% | 94.52% |
| 10 Yr | N/A* | 0.4% | 23.4% | 91.06% |
* Annualized
Return Ranking - Calendar
| Period | ICDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.7% | 1.0% | 26.9% | 61.44% |
| 2022 | -26.6% | -27.8% | 166.1% | 99.34% |
| 2021 | 8.4% | -66.6% | 64.4% | 41.00% |
| 2020 | 4.8% | -17.0% | 17.3% | 13.59% |
| 2019 | 14.3% | 4.4% | 31.6% | 55.56% |
Total Return Ranking - Trailing
| Period | ICDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -2.2% | 20.4% | 69.23% |
| 1 Yr | N/A | -2.4% | 25.6% | 98.46% |
| 3 Yr | N/A* | -3.2% | 81.0% | 97.12% |
| 5 Yr | N/A* | 0.3% | 45.8% | 94.52% |
| 10 Yr | N/A* | 0.4% | 23.4% | 91.06% |
* Annualized
Total Return Ranking - Calendar
| Period | ICDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.3% | 5.4% | 31.0% | 85.95% |
| 2022 | -18.2% | -19.9% | 344.3% | 97.05% |
| 2021 | 11.0% | -0.2% | 75.3% | 61.00% |
| 2020 | 6.0% | -11.8% | 18.9% | 17.07% |
| 2019 | 16.9% | 11.2% | 32.1% | 67.38% |
NAV & Total Return History
ICDAX - Holdings
Concentration Analysis
| ICDAX | Category Low | Category High | ICDAX % Rank | |
|---|---|---|---|---|
| Net Assets | 92.7 M | 3.42 M | 46.7 B | 93.49% |
| Number of Holdings | 64 | 2 | 2513 | 73.94% |
| Net Assets in Top 10 | 31.7 M | 628 K | 14.6 B | 85.02% |
| Weighting of Top 10 | 32.36% | 6.2% | 100.0% | 21.90% |
Top 10 Holdings
- L'Oreal SA 4.12%
- Nestle SA 4.03%
- Reckitt Benckiser Group PLC 3.46%
- Asahi Group Holdings Ltd 3.43%
- Seven i Holdings Co Ltd 3.00%
- LVMH Moet Hennessy Louis Vuitton SE 2.94%
- Haleon PLC 2.92%
- ASML Holding NV 2.87%
- Deutsche Telekom AG 2.80%
- SAP SE 2.80%
Asset Allocation
| Weighting | Return Low | Return High | ICDAX % Rank | |
|---|---|---|---|---|
| Stocks | 98.50% | 6.62% | 104.54% | 28.01% |
| Preferred Stocks | 0.87% | 0.00% | 3.92% | 31.27% |
| Cash | 0.63% | 0.00% | 13.78% | 83.39% |
| Other | 0.00% | -1.10% | 29.32% | 78.18% |
| Convertible Bonds | 0.00% | 0.00% | 0.15% | 71.34% |
| Bonds | 0.00% | 0.00% | 100.21% | 72.31% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ICDAX % Rank | |
|---|---|---|---|---|
| Consumer Defense | 31.84% | 0.00% | 31.84% | 1.97% |
| Healthcare | 19.11% | 0.00% | 23.28% | 6.25% |
| Consumer Cyclical | 18.83% | 0.00% | 27.46% | 9.54% |
| Industrials | 12.75% | 1.03% | 36.79% | 60.20% |
| Communication Services | 7.65% | 0.29% | 22.75% | 40.13% |
| Basic Materials | 5.03% | 0.00% | 30.76% | 85.20% |
| Technology | 4.18% | 0.00% | 24.16% | 74.67% |
| Financial Services | 0.39% | 0.00% | 42.76% | 99.67% |
| Energy | 0.11% | 0.00% | 26.59% | 92.76% |
| Utilities | 0.06% | 0.00% | 27.46% | 90.46% |
| Real Estate | 0.06% | 0.00% | 17.06% | 77.63% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ICDAX % Rank | |
|---|---|---|---|---|
| Non US | 83.61% | 0.00% | 99.66% | 86.97% |
| US | 14.89% | 0.00% | 100.40% | 12.70% |
ICDAX - Expenses
Operational Fees
| ICDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.79% | 0.01% | 5.99% | 11.73% |
| Management Fee | 1.00% | 0.00% | 1.25% | 95.10% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 55.48% |
| Administrative Fee | N/A | 0.03% | 0.47% | 5.08% |
Sales Fees
| ICDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.75% | 3.50% | 5.75% | 38.46% |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| ICDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 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.
| ICDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 119.00% | 2.00% | 158.16% | 93.31% |
ICDAX - Distributions
Dividend Yield Analysis
| ICDAX | Category Low | Category High | ICDAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.44% | 0.00% | 13.19% | 21.57% |
Dividend Distribution Analysis
| ICDAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | SemiAnnual | Quarterly | Quarterly |
Net Income Ratio Analysis
| ICDAX | Category Low | Category High | ICDAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.13% | 0.18% | 7.85% | 92.36% |
Capital Gain Distribution Analysis
| ICDAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Apr 29, 2024 | $0.510 | OrdinaryDividend |
| Dec 15, 2023 | $0.212 | OrdinaryDividend |
| Dec 15, 2022 | $1.514 | OrdinaryDividend |
| Dec 16, 2021 | $0.422 | OrdinaryDividend |
| Dec 10, 2020 | $0.182 | OrdinaryDividend |
| Dec 12, 2019 | $0.362 | OrdinaryDividend |
| Dec 13, 2018 | $0.037 | CapitalGainShortTerm |
| Dec 13, 2018 | $1.873 | CapitalGainLongTerm |
| Dec 13, 2018 | $0.066 | OrdinaryDividend |
| Dec 14, 2017 | $0.153 | OrdinaryDividend |
| Dec 08, 2016 | $0.058 | OrdinaryDividend |
| Dec 10, 2015 | $0.127 | OrdinaryDividend |
| Dec 12, 2013 | $0.010 | OrdinaryDividend |
| Dec 08, 2011 | $0.008 | OrdinaryDividend |
| Dec 10, 2009 | $0.106 | OrdinaryDividend |
| Dec 11, 2008 | $0.002 | CapitalGainShortTerm |
| Dec 11, 2008 | $0.027 | OrdinaryDividend |
| Dec 13, 2007 | $0.444 | CapitalGainShortTerm |
| Dec 13, 2007 | $0.867 | CapitalGainLongTerm |
| Dec 13, 2007 | $0.180 | OrdinaryDividend |
| Dec 14, 2006 | $0.153 | CapitalGainShortTerm |
| Dec 14, 2006 | $0.110 | OrdinaryDividend |
| Dec 11, 2006 | $0.594 | CapitalGainLongTerm |
| Dec 15, 2005 | $0.180 | CapitalGainShortTerm |
| Dec 15, 2005 | $0.309 | CapitalGainLongTerm |
| Dec 15, 2005 | $0.157 | OrdinaryDividend |
| Dec 16, 2004 | $0.069 | OrdinaryDividend |
| Dec 18, 2003 | $0.035 | OrdinaryDividend |
| Dec 20, 2002 | $0.076 | OrdinaryDividend |
ICDAX - Fund Manager Analysis
Managers
Claus Juul
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Claus Juul is a portfolio manager for the firm’s Global Equity team. He joined Macquarie Investment Management (MIM) in June 2018. Juul has been a portfolio manager since 2004. Prior to that, he was an equity analyst at Spar Nord Bank before becoming vice president of the research department in 2001. He started his career in 1998 with Sydbank as an equity analyst. He attended the Aarhus School of Business where he gained a master’s degree in economics and business administration.
Klaus Petersen
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Klaus Petersen is a portfolio manager for the firm’s Global Equity team. He joined Macquarie Investment Management (MIM) in June 2018. Petersen has been a portfolio manager since 2006. Previously, he worked for ATP, Denmark’s largest pension fund, beginning in 1999 as a senior portfolio manager and later in the role as team leader of the technology, media, and telecommunications team. He joined Codan Bank in 1996, first as a senior sales analyst and later as a senior portfolio manager.
Allan Jensen
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Allan Saustrup Jensen joined Macquarie Investment Management (MIM) in May 2020 as a portfolio manager for the firm’s Global Equity team. He has more than 20 years of experience in the asset management industry. Prior to joining MIM, he spent five years at European Capital Partners as a fund manager. From 2010 to 2015, Jensen was a trader at European Value Partners. Prior to that, he spent four years at UBS Wealth Management as a portfolio manager. He began his investment career at Nordea Bank. Jensen attended Copenhagen Business School where he earned a Graduate Diploma in finance.
Christopher Gowlland
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Chris Gowlland is the head of equity quantitative research, a role he assumed in July 2019. As part of his role, he also serves as portfolio manager for certain portfolios managed by the Global Equity team and for several different strategies in multi-asset class offerings of Delaware Management Company. Previously, he was a senior quantitative analyst for the firm's equity department. Prior to joining Macquarie Investment Management in May 2007, he spent seven years working in fundamental equity research and corporate finance for Morgan Stanley and Commerzbank Securities, followed by two years as a quantitative strategist at Morgan Stanley and at State Street Global Markets. Gowlland holds a bachelor's degree in Chinese and Spanish from the University of Leeds (U.K.), a master's degree in development studies from Brown University, and another master's degree in international management from Thunderbird. He also spent several years in a Ph.D. program in political economy at Harvard University. Gowlland is a member of the CFA Institute, the CFA Society New York, the CFA Society of Philadelphia, and the Society of Quantitative Analysts.
Åsa Annerstedt
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Åsa Annerstedt is a portfolio manager for the firm’s Global Equity team. She joined Macquarie Investment Management (MIM) in June 2018. Annerstedt has been a portfolio manager since 2013. Prior to that, she was a member of the investment committee of a European Union fund dedicated to the financing of companies. Between 1999 and 2009, she managed award-winning European Small Cap and Global Equity portfolios at SEB Asset Management in Denmark. She started her career in 1996 as a business controller and consultant in Sweden. Annerstedt attended Ecole Supérieur de Commerce in Paris and Marseille and earned a master’s degree in finance and international trade from Lund University in Sweden.
Jens Hansen
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Jens Hansen heads the firm’s Global Equity team and is a portfolio manager for the team’s strategies. He joined Macquarie Investment Management (MIM) in June 2018. Hansen has been a portfolio manager since 2001. Hansen started his career in 1982 with Spar Nord Bank, where he worked as an analyst and trader of bonds, equities, and derivatives. In 1994, he joined Nykredit Bank, where he worked as a bond trader. He attended the Aarhus School of Business where he gained a graduate diploma in business administration within finance and international trade.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 29.68 | 7.74 | 0.54 |
