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Delaware Ivy Smid Cap Core Fund
ISPVX (Mutual Fund)
Delaware Ivy Smid Cap Core Fund
Name
As of 12/11/2024Price
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
22.5%
1 yr return
29.0%
3 Yr Avg Return
7.5%
5 Yr Avg Return
10.3%
Net Assets
$349 M
Holdings in Top 10
13.7%
52 WEEK LOW AND HIGH
$21.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.99%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 122.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
ISPVX - Profile
Distributions
- YTD Total Return 22.5%
- 3 Yr Annualized Total Return 7.5%
- 5 Yr Annualized Total Return 10.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.25%
- Dividend Yield 0.5%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDelaware Ivy Smid Cap Core Fund
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateJul 31, 2014
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerChristopher Adams
Fund Description
Delaware Ivy Smid Cap Core Fund seeks to achieve its objective by investing primarily in various types of equity securities of small- and mid-capitalization companies that the Manager believes have the greatest potential for capital appreciation. Under normal circumstances, at least 80% of the Fund’s net assets will be invested, at the time of purchase, in common stocks of small-and mid-capitalization companies. For purposes of this Fund, small-capitalization companies typically are companies with market capitalizations similar to those of issuers included in the Russell 2500TM Index at the time of purchase and mid-capitalization companies are those within the market capitalization range of the Russell Midcap® Index at the time of purchase.
The Manager researches individual companies and analyzes economic and market conditions, seeking to identify the securities or market sectors that it believes are the best investments for the Fund. The following are descriptions of how the portfolio management team pursues the Fund’s investment objective. The Manager strives to identify stocks of small companies that it believes offer above-average opportunities for long-term price appreciation based on: (1) attractive valuations, (2) growth prospects, and (3) strong cash flow. The Fund employs bottom-up (stock-by-stock) security selection utilizing quantitative screens, fundamental research, and risk control to evaluate stocks based on both growth and value characteristics. The Manager typically uses a quantitative screen that ranks the attractiveness of an investment based on a combination of valuation measures, earnings expectations, cash flow, and balance-sheet quality. In further evaluating the attractiveness of an investment, the Manager considers factors such as business conditions in the company’s industry and its competitive position in that industry. The Manager conducts fundamental research on certain investments, which often includes reviewing US Securities and Exchange Commission (SEC) filings, examining financial statements, and meeting with top-level company executives. When constructing the portfolio, the Manager applies controls to ensure the portfolio has risk characteristics that it deems acceptable. These characteristics include, but are not limited to, size, valuation, growth, yield, and earnings consistency. This risk profile is then compared to the benchmark index to ensure the portfolio does not have any unintended risk exposure.
The 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.
ISPVX - Performance
Return Ranking - Trailing
| Period | ISPVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.5% | -1.5% | 40.1% | 16.19% |
| 1 Yr | 29.0% | 0.0% | 49.5% | 23.81% |
| 3 Yr | 7.5%* | -11.3% | 45.7% | 17.53% |
| 5 Yr | 10.3%* | -12.3% | 38.2% | 43.98% |
| 10 Yr | 10.0%* | -2.8% | 18.6% | 4.96% |
* Annualized
Return Ranking - Calendar
| Period | ISPVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.8% | -19.9% | 29.0% | 30.98% |
| 2022 | -31.9% | -59.3% | 118.2% | 91.73% |
| 2021 | 2.3% | -31.6% | 39.3% | 75.39% |
| 2020 | 7.6% | -51.0% | 39.5% | 65.73% |
| 2019 | 23.8% | -5.6% | 37.8% | 25.31% |
Total Return Ranking - Trailing
| Period | ISPVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.5% | -1.5% | 40.1% | 16.19% |
| 1 Yr | 29.0% | 0.0% | 49.5% | 23.81% |
| 3 Yr | 7.5%* | -11.3% | 45.7% | 17.53% |
| 5 Yr | 10.3%* | -12.3% | 38.2% | 43.98% |
| 10 Yr | 10.0%* | -2.8% | 18.6% | 4.96% |
* Annualized
Total Return Ranking - Calendar
| Period | ISPVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 16.3% | -11.7% | 31.8% | 50.29% |
| 2022 | -14.5% | -45.2% | 123.7% | 24.23% |
| 2021 | 21.4% | 0.0% | 45.6% | 61.52% |
| 2020 | 7.6% | -50.5% | 46.9% | 74.75% |
| 2019 | 24.8% | 2.2% | 40.9% | 49.79% |
NAV & Total Return History
ISPVX - Holdings
Concentration Analysis
| ISPVX | Category Low | Category High | ISPVX % Rank | |
|---|---|---|---|---|
| Net Assets | 349 M | 555 K | 145 B | 55.32% |
| Number of Holdings | 132 | 2 | 2445 | 55.13% |
| Net Assets in Top 10 | 48.5 M | 124 K | 10.3 B | 66.54% |
| Weighting of Top 10 | 13.73% | 3.1% | 100.1% | 64.12% |
Top 10 Holdings
- East West Bancorp Inc 1.58%
- Chesapeake Energy Corp 1.47%
- Boise Cascade Co 1.39%
- Carlisle Cos Inc 1.35%
- Casey's General Stores Inc 1.34%
- Liberty Energy Inc 1.34%
- Webster Financial Corp 1.33%
- Stifel Financial Corp 1.33%
- Steven Madden Ltd 1.30%
- Guidewire Software Inc 1.30%
Asset Allocation
| Weighting | Return Low | Return High | ISPVX % Rank | |
|---|---|---|---|---|
| Stocks | 98.75% | 4.44% | 107.74% | 41.83% |
| Cash | 1.29% | 0.00% | 27.02% | 60.65% |
| Preferred Stocks | 0.00% | 0.00% | 5.13% | 76.81% |
| Other | 0.00% | -0.07% | 49.08% | 87.07% |
| Convertible Bonds | 0.00% | 0.00% | 3.17% | 77.14% |
| Bonds | 0.00% | 0.00% | 102.81% | 78.14% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ISPVX % Rank | |
|---|---|---|---|---|
| Industrials | 19.71% | 2.46% | 37.42% | 25.58% |
| Technology | 15.81% | 0.00% | 43.95% | 27.31% |
| Financial Services | 14.35% | 0.00% | 35.52% | 75.96% |
| Healthcare | 13.82% | 0.00% | 26.53% | 46.35% |
| Consumer Cyclical | 11.87% | 0.99% | 47.79% | 34.42% |
| Real Estate | 7.01% | 0.00% | 29.43% | 54.62% |
| Basic Materials | 5.81% | 0.00% | 18.66% | 28.08% |
| Energy | 5.31% | 0.00% | 37.72% | 67.31% |
| Communication Services | 2.36% | 0.00% | 14.85% | 57.50% |
| Consumer Defense | 2.05% | 0.00% | 18.87% | 87.50% |
| Utilities | 1.88% | 0.00% | 18.58% | 67.50% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ISPVX % Rank | |
|---|---|---|---|---|
| US | 98.75% | 2.58% | 107.74% | 35.74% |
| Non US | 0.00% | 0.00% | 97.07% | 80.23% |
ISPVX - Expenses
Operational Fees
| ISPVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.99% | 0.01% | 38.30% | 56.87% |
| Management Fee | 0.85% | 0.00% | 1.50% | 78.05% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | 17.98% |
| Administrative Fee | N/A | 0.01% | 0.45% | 2.79% |
Sales Fees
| ISPVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| ISPVX 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.
| ISPVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 122.00% | 1.00% | 314.00% | 92.72% |
ISPVX - Distributions
Dividend Yield Analysis
| ISPVX | Category Low | Category High | ISPVX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.53% | 0.00% | 42.47% | 51.33% |
Dividend Distribution Analysis
| ISPVX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | SemiAnnual | SemiAnnual |
Net Income Ratio Analysis
| ISPVX | Category Low | Category High | ISPVX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.25% | -2.40% | 2.49% | 44.04% |
Capital Gain Distribution Analysis
| ISPVX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 20, 2024 | $0.028 | OrdinaryDividend |
| Mar 22, 2024 | $0.083 | OrdinaryDividend |
| Dec 15, 2023 | $0.021 | OrdinaryDividend |
| Sep 22, 2023 | $0.016 | OrdinaryDividend |
| Jun 22, 2023 | $0.025 | OrdinaryDividend |
| Mar 22, 2023 | $0.005 | OrdinaryDividend |
| Dec 15, 2022 | $3.776 | CapitalGainLongTerm |
| Sep 15, 2022 | $0.035 | OrdinaryDividend |
| Dec 16, 2021 | $3.931 | OrdinaryDividend |
| Dec 12, 2019 | $0.017 | OrdinaryDividend |
| Dec 12, 2019 | $0.020 | CapitalGainShortTerm |
| Dec 12, 2019 | $0.121 | CapitalGainLongTerm |
| Dec 13, 2018 | $0.583 | CapitalGainShortTerm |
| Dec 13, 2018 | $1.969 | CapitalGainLongTerm |
| Dec 14, 2017 | $0.287 | CapitalGainShortTerm |
| Dec 14, 2017 | $0.167 | CapitalGainLongTerm |
| Dec 08, 2016 | $0.534 | CapitalGainShortTerm |
| Dec 08, 2016 | $0.345 | CapitalGainLongTerm |
| Dec 10, 2015 | $2.154 | CapitalGainLongTerm |
| Dec 11, 2014 | $0.249 | CapitalGainShortTerm |
| Dec 11, 2014 | $1.596 | CapitalGainLongTerm |
ISPVX - Fund Manager Analysis
Managers
Christopher Adams
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Christopher S. Adams, CFA Vice President, Senior Portfolio Manager Christopher S. Adams is a senior portfolio manager on the firm’s US Core Equity team and performs analysis and research to support the portfolio management function. He joined the team in 2000 and became a portfolio manager in November 2004. Prior to joining Macquarie Investment Management (MIM) in 1995 as assistant vice president of strategic planning, Adams had approximately 10 years of experience in the financial services industry in the United States and United Kingdom, including positions with Coopers & Lybrand, The Sumitomo Bank, Bank of America, and Lloyds Bank. Adams holds both bachelor’s and master’s degrees in history and economics from the University of Oxford, England, and received an MBA with dual concentrations in finance and insurance/risk management from The Wharton School of the University of Pennsylvania. He is a past president of the CFA Society of Philadelphia.
David Reidinger
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
David E. Reidinger Vice President, Senior Portfolio Manager David E. Reidinger joined Macquarie Investment Management (MIM) in October 2016 as a senior portfolio manager on the firm’s US Core Equity team. He also performs analysis and research to support the portfolio management function. From June 2004 to September 2016, Reidinger was a senior analyst and portfolio manager at Chartwell Investment Partners, where he worked on the firm’s small- and mid-cap growth strategies. Before that, Reidinger was a portfolio manager with Morgan Stanley Investment Management from 2000 to 2003, and a senior equity analyst with Tiger Management from 1998 to 2000. Reidinger began his career in 1993 as an equity research analyst with Goldman Sachs. With more than 20 years of experience as an analyst, he has covered a broad range of industries within the information technology, consumer, and industrial sectors. Reidinger earned bachelor’s degrees in both mathematics and economics from Fordham University, and an MBA from Columbia Business School.
Michael Morris
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
David E. Reidinger Vice President, Senior Portfolio Manager David E. Reidinger joined Macquarie Investment Management (MIM) in October 2016 as a senior portfolio manager on the firm’s US Core Equity team. He also performs analysis and research to support the portfolio management function. From June 2004 to September 2016, Reidinger was a senior analyst and portfolio manager at Chartwell Investment Partners, where he worked on the firm’s small- and mid-cap growth strategies. Before that, Reidinger was a portfolio manager with Morgan Stanley Investment Management from 2000 to 2003, and a senior equity analyst with Tiger Management from 1998 to 2000. Reidinger began his career in 1993 as an equity research analyst with Goldman Sachs. With more than 20 years of experience as an analyst, he has covered a broad range of industries within the information technology, consumer, and industrial sectors. Reidinger earned bachelor’s degrees in both mathematics and economics from Fordham University, and an MBA from Columbia Business School.
Francis Morris
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Francis X. Morris joined Macquarie Investment Management (MIM) in 1997 as a vice president and portfolio manager, and became the chief investment officer for US Core Equity investments in 2004. He is a member of the MIM Global Management Committee and a former Trustee for the Macquarie Management Holdings, Inc. 401(k) and Retirement Plan. Prior to joining the firm, Morris was vice president and director of equity research at PNC Asset Management. He received a bachelor's degree from Providence College and holds an MBA from Widener University. He is a former member of the Business Advisory Council of the Providence College School of Business. Morris is a past president of the CFA Society of Philadelphia and is a member of the CFA Institute. He is a former officer of the National Association of Petroleum Investment Analysts.
Donald Padilla
Start Date
Tenure
Tenure Rank
Nov 15, 2021
0.54
0.5%
Donald G. Padilla, CFA Vice President, Senior Portfolio Manager Donald G. Padilla is a senior portfolio manager on the firm’s US Core Equity team and performs analysis and research to support the portfolio management function. He joined the team in 2000 and became a portfolio manager in November 2004. Padilla joined Macquarie Investment Management (MIM) in 1994 as assistant controller in the firm’s treasury function, responsible for managing corporate cash investments, developing financial models, and overseeing the financial operations of the Lincoln Life 401(k) annuities segment. Prior to joining the firm, he held various positions at The Vanguard Group. Padilla holds a bachelor’s degree in accounting from Lehigh University, and he is a member of the CFA Society of Philadelphia.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 49.61 | 7.17 | 2.58 |
