Key features
Seeks total return and offers the potential for capital growth and current income
Provides diversification among different asset classes consistent with a moderate risk level
Strategic and tactical allocations made by an experienced multi-asset allocation team
Daily pricing as of 08/14/2024
NAV
$22.84
NAV 1-day net change
0.10
Max offer price
$22.84
Total net assets as of 07/31/2024
All share classes
$1.6 billion
Overview
| Fund information | |||
|---|---|---|---|
| Inception date | 04/02/2007 | ||
| Dividends paid (if any) | Quarterly | ||
| Capital gains paid (if any) | December | ||
| Fund identifiers | |
|---|---|
| NASDAQ | IYBIX |
| CUSIP | 465898146 |
Benchmark and peer group
S&P 500® Index(view definition)
Bloomberg US Aggregate Index(view definition)
Morningstar Allocation--50% to 70% Equity Category (view definition)
LipperMixed-Asset Target Allocation Growth Funds Average (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 reimbursem*nts 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 reimbursem*nts.
Average annual total return as of month-end (07/31/2024)
- Chart
- Table
| YTD | 1 year | 3 year | 5 year | 10 year | Lifetime | Inception date | |
|---|---|---|---|---|---|---|---|
| NAV(%) (view definition) | 12.32% | 17.57% | 4.62% | 9.44% | 7.63% | 7.86% | 04/02/2007 |
| S&P 500 Index(%) | 16.70% | 22.15% | 15.00% | 13.15% | n/a | ||
| Bloomberg US Aggregate Index(%) | 1.61% | 5.10% | 0.19% | 1.61% | n/a |
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 (06/30/2024)
- Chart
- Table
| 1 year | 3 year | 5 year | 10 year | Lifetime | Inception date | ||
|---|---|---|---|---|---|---|---|
| NAV(%) (view definition) | 1.73% | 16.25% | 4.02% | 9.17% | 7.02% | 7.73% | 04/02/2007 |
| S&P 500 Index(%) | 4.28% | 24.56% | 15.05% | 12.86% | n/a | ||
| Bloomberg US Aggregate Index(%) | 0.07% | 2.63% | -0.23% | 1.35% | n/a |
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.
Overall Morningstar RatingTM
Class I shares - as of 07/31/2024
| Rating | No. of funds | |
|---|---|---|
| Overall | 4 | 680 |
| 3 years | 4 | 680 |
| 5 years | 4 | 644 |
| 10 years | 4 | 490 |
| Morningstar category | Morningstar Allocation -- 50% to 70% Equity Category | |
(View Morningstar disclosure)
The Morningstar rating is based on risk-adjusted returns.
Morningstar disclosure
Past performance is not a guarantee of future results. Morningstar proprietary ratings reflect historical risk-adjusted performance as of 03/31/2020. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Morningstar load-waived ratings do not take into account Class A sales charges. Class A shares without a sales charge (load) are not available to all investors.
The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
© Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
| Morningstar ranking - as of 07/31/2024 | |
|---|---|
| 1 year | 38 / 732 |
| 3 years | 108 / 680 |
| 5 years | 55 / 644 |
| 10 years | 109 / 490 |
| Morningstar category | Morningstar Allocation -- 50% to 70% Equity Category |
(View Morningstar disclosure)
The Morningstar ranking is based on historical total returns.
Morningstar disclosure
Morningstar fund data for all time periods shown are as of the above indicated. Although a Fund may outperform peers when compared to its Morningstar peer group, the returns for that period may still be negative. Rankings shown are provided by Morningstar. Rankings and performance for other time periods are available from Morningstar.
Past performance is no guarantee of future results.
The Fund offers other share classes, and their performance and rankings may be lower than those of the class shown.
Morningstar rankings reflect a fund's historical total return performance, excluding sales charges as applicable, relative to peers as of the above date. The ratings are subject to change every month and are based on equal-rated average of percentile ranks for the total return metrics over 1-, 3-, 5-, and 10-year periods, if applicable. Morningstar rankings are not intended to predict future results, and Morningstar does not guarantee the accuracy of this information.
Expense waivers may have been in effect for some or all of the periods shown. Performance would have been lower if waivers did not apply or if sales charges were included. Morningstar rankings may have been lower if waivers did not apply or if sales charges were included.
© Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
| Lipper ranking - as of 07/31/2024 | |
|---|---|
| 1 year | 40 / 455 |
| 3 years | 116 / 432 |
| 5 years | 64 / 408 |
| 10 years | 124 / 332 |
| Lipper classification | Lipper Mixed-Asset Target Allocation Growth Funds Average |
(View Lipper disclosure)
The Lipper ranking is based on historical total returns.
Lipper disclosure
Lipper fund data for all time periods shown are as of the date shown. Although a Fund may outperform peers when compared to Lipper peer groups, the returns for that period may still be negative. Rankings shown are provided by Lipper, Inc., a leading independent analysis service. Rankings and performance for other time periods are available from Lipper.
Past performance is no guarantee of future results.
The Fund offers other share classes, and their performance and rankings may be lower than those of the class shown.
Lipper rankings reflect a fund's historical total return performance, excluding sales charges as applicable, relative to peers as of the above date. The ratings are subject to change every month and are based on equal-rated average of percentile ranks for the total return metrics over 1-, 3-, 5-, and 10-year periods, if applicable. Lipper rankings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information.
Expense waivers may have been in effect for some or all of the periods shown. Performance would have been lower if waivers did not apply or if sales charges were included. Lipper rankings may have been lower if waivers did not apply or if sales charges were included.
Expense ratio
Gross
0.83%
Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursem*nts from July 31, 2024 through July 31, 2025. Please see the fee table in the Fund's prospectus for more information.
Calendar year total returns @ NAV
Year
Annual return
Year
Annual return
2023
16.51%
2022
-15.94%
2021
16.46%
2020
14.64%
2019
22.42%
2018
-3.12%
2017
11.66%
2016
2.23%
2015
-0.11%
2014
7.52%
Portfolio
Portfolio characteristics as of 07/31/2024
Number of holdings
345
Market cap (median) Source: FactSet
$147.5 billion
Market cap (weighted average) Source: FactSet
$878.2 billion
Portfolio turnover (last fiscal year)
73%
Beta (relative to S&P 500 Index) (view definition)
0.74
SEC 30-day yield with waiver (view definition)
1.64%
SEC 30-day yield without waiver (view definition)
1.61%
Annualized standard deviation, 3 years (view definition)
13.54
Portfolio composition as of 08/31/2023
Total may not equal 100% due to rounding.
Domestic equities
63.6%
Fixed income
32.7%
Cash and cash equivalents
3.7%
Top 10 holdings as of 07/31/2024
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Holding
% of portfolio
MICROSOFT CORP
4.50
NVIDIA CORP
2.99
APPLE INC
2.84
TREASURY NOTE 4.375 5/15/2034
2.64
AMAZON COM INC
2.20
UNITEDHEALTH GROUP INC
2.09
KKR AND CO INC
1.96
HCA HEALTHCARE INC
1.95
ALPHABET INC CLASS A
1.84
VANGUARD INDEX FUND;ETF
1.81
Total % Fund in Top 10 holdings - 24.82%
List of monthly holdings
List of quarterly holdings
Distribution history - annual distributions (Class I)1,2
Distributions ($ per share)
Year
Capital gains3
Net investment income
Year
Capital gains3
Net investment income
2024
0.000
0.393
2023
0.000
0.274
2022
4.677
0.163
2021
3.044
0.164
2020
1.477
0.337
2019
1.547
0.393
2018
2.199
0.421
2017
0.657
0.554
2016
0.277
0.306
2015
1.177
0.344
2014
0.737
0.222
1If a Fund makes a distribution from any source other than net income, it is required to provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The amounts and sources of distributions reported above and in each Notice are only estimates and are not provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the calendar year that will provide definitive information on how to report the Fund's distributions for federal income tax purposes. The information in the table above will not be updated to reflect any subsequent recharacterization of dividends and distributions. Click here to see recent Notices pertaining to the Fund (if any).
2Information on return of capital distributions (if any) is only provided from June 1, 2014 onward.
3Includes both short- and long-term capital gains.
Management
Investment manager
Delaware Management Company, a series of Macquarie Investment Management Business Trust (a Delaware statutory trust)
Aaron D. Young
- Senior Vice President, Portfolio Manager – Global Multi-Asset
- Start date on the Fund: November 2021
- Years of industry experience: 20
- Read bio
Biography
Aaron D. Young
Senior Vice President, Portfolio Manager – Global Multi-Asset
- Joined Ivy Investments in 2005, acquired by Macquarie in 2021
- Based in Kansas City
Aaron is a Portfolio Manager for the Global Multi-Asset Team at Macquarie Asset Management (MAM). He focuses on asset allocation, portfolio construction, and risk analysis. The team, led by Stefan Löwenthal, has engineered multi-asset solutions for more than 25 years. With its highly differentiated investment process, the team serves clients around the globe. Aaron also contributes to the team’s fundamental research process.
He serves on the firm’s Optimum Sub-Advisory Oversight Committee of the Optimum Fund Trust.
Prior to Macquarie's acquisition of Ivy Investments, Aaron worked in a variety of roles at Ivy Investments, most recently as both a Multi-Asset Portfolio Manager and member of the Equity Risk and Quantitative Research Team.
He earned his Bachelor of Arts in philosophy with Honors from the University of Missouri and a Master of Business Administration with an emphasis in finance and strategy from the Olin School of Business at Washington University.
Sub-advisor
Macquarie Investment Management Austria Kapitalanlage AG (MIMAK) serves as sub-advisor for the Fund.
Stefan Löwenthal,CFA
- Managing Director, Head of Global Multi-Asset
- Start date on the Fund: November 2021
- Years of industry experience: 16
- Read bio
Biography
Stefan Löwenthal
Managing Director, Head of Global Multi-Asset
- Joined Macquarie in 2008
- Based in Vienna
Stefan is Head of Global Multi-Asset at Macquarie Asset Management (MAM). The team has engineered multi-asset solutions for more than 25 years. With its highly differentiated investment process, the team serves clients around the globe. He leads the team responsible for asset allocation and portfolio construction; the management of multi-asset funds, model portfolios, and institutional accounts; and the development of new multi-asset investment strategies. He oversees all research, portfolio management, and thought leadership activities of the team.
Stefan joined Macquarie in February 2008 as a Portfolio Manager on the Global Multi-Asset Team. He was appointed Chief Investment Officer for the team in 2013.
He chairs the MAM Investment Policy Committee and is a member of the MAM Environmental, Social, and Governance (ESG) Working Group, the MAM Professional Series Multi Manager Committee, and the MAM Private Infrastructure Fund Governance Committee.
He is a frequent speaker at industry events and universities. Stefan received a Master of Management Science from the Vienna University of Economics and Business. He holds the Chartered Financial Analyst® designation and is a member of the CFA Society Austria.
Jürgen Wurzer
- Managing Director, Deputy Head of Global Multi-Asset
- Start date on the Fund: November 2021
- Years of industry experience: 17
- Read bio
Biography
Jürgen Wurzer
Managing Director, Deputy Head of Global Multi-Asset
- Re-joined Macquarie in 2018
- Based in Vienna
Jürgen is Deputy Head of Global Multi-Asset at Macquarie Asset Management (MAM), a role he assumed in April 2018. The team, led by Stefan Löwenthal, has engineered multi-asset solutions for more than 25 years. With its highly differentiated investment process, the team serves clients around the globe. Jürgen is responsible for designing and managing multi-asset strategies, overseeing quantitative research and modelling, and analysing global equity markets.
He initially joined Macquarie in 2007, focusing on multi-asset solutions. He worked for Erste Asset Management between 2016 and 2018, prior to re-joining Macquarie in 2018.
In addition to his role at Macquarie, Jürgen serves as a lecturer for asset allocation, quantitative finance, and portfolio and risk management at several educational institutions.
Jürgen received a Master of Arts from the University of Applied Sciences Wiener Neustadt. He holds the Chartered Financial Analyst® designation, the CFA Institute Certificate in ESG Investing and is a member of the CFA Society Austria.
Fees
The table below describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table below. You may qualify for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Delaware Funds by Macquarie. More information about these and other discounts is available from your financial intermediary, in the Fund’s Prospectus under the section entitled “About your account,” and in the Fund’s statement of additional information (SAI) under the section entitled “Purchasing Shares.”
| Annual fund operating expenses | |
|---|---|
| Management fees | 0.68% |
| Distribution and service (12b-1) fees | none |
| Other expenses | 0.15% |
| Total annual fund operating expenses | 0.83% |
| Fee waivers and expense reimbursem*nts1 | (0.02%) |
| Total annual fund operating expenses after fee waivers and expense reimbursem*nts | 0.81% |
Please see the prospectus and SAI for additional information.
1Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursem*nts from July 31, 2024 through July 30, 2025. Please see the fee table in the Fund's prospectus for more information.
Other expenses contain a 0.01% acquired fund fees and expenses. Acquired Fund Fees and Expenses sets forth the Fund's pro rata portion of the cumulative expenses charged by the registered investment companies (RICs) in which the Fund invested during the last fiscal year. The actual Acquired Fund Fees and Expenses will vary with changes in the allocations of the Fund's assets. The Acquired Fund Fees and Expenses shown are based on the total expense ratio of the RICs for the RICs' most recent fiscal period. These expenses are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's NAV.
Resources
Fact sheet and commentaries
Prospectuses and reports
Additional information
Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund's prospectus and its summary prospectus, which may be obtained by visiting delawarefunds.com/literature or calling 877 693-3546. Investors should read the prospectus and the summary prospectus carefully before investing.
Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund's prospectus and its summary prospectus, which may be obtained by visiting delawarefunds.com/literature or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.
The Manager may seek investment advice and recommendations relating to fixed income securities from its affiliates: Macquarie InvestmentManagement Europe Limited (MIMEL), and Macquarie Investment Management Global Limited (MIMGL). The Manager may also permit MIMGL to execute Fund equity security trades on behalf of the Manager.
Investing involves risk, including the possible loss of principal.
Fixed income securities can lose value, including the possible loss of principal. An issuer of a fixed income security may be unable to make interest payments and/or repay principal in a timely manner. The prices of bonds and other fixed income securities will increase as interest rates fall and decrease as interest rates rise. Fixed income securities with longer maturities or duration generally are more sensitive to interest rate changes.
High yield securities (“junk bonds”) are subject to reduced creditworthiness of issuers, increased risk of default, and a more limited and less liquid secondary market. High yield securities may also be subject to greater price volatility and risk of loss of income and principal than higher-rated securities.
Risk is increased in a concentrated portfolio since it holds a limited number of securities with each investment having a greater effect on the overall performance.
There is no guarantee that dividend-paying stocks will continue to pay dividends.
IBOR risk is the risk that changes related to the use of the London interbank offered rate (LIBOR) or similar rates (such as EONIA) could have adverse impacts on financial instruments that reference these rates. The abandonment of these rates and transition to alternative rates could affect the value and liquidity of instruments that reference them and could affect investment strategy performance.
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 Fund’s 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 Fund from executing advantageous investment decisions in a timely manner and could negatively impact the Fund’s ability to achieve its investment objective. Any such event(s) could have a significant adverse impact on the value and risk profile of the Fund.
All third-party marks cited are the property of their respective owners.
Not FDIC Insured • No Bank Guarantee • May Lose Value
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