Key features
Investing at the intersection of innovation and quality
Seeking innovative opportunities across the broad market
Built on a six-decade firm legacy of technology investing expertise
Daily pricing as of 08/14/2024
NAV
$72.68
NAV 1-day net change
0.21
Max offer price
$72.68
Total net assets as of 07/31/2024
All share classes
$5.8 billion
Overview
| Fund information | |||
|---|---|---|---|
| Inception date | 04/02/2007 | ||
| Dividends paid (if any) | Annually | ||
| Capital gains paid (if any) | December | ||
| Fund identifiers | |
|---|---|
| NASDAQ | ISTIX |
| CUSIP | 466001807 |
Benchmark and peer group
S&P North American Technology Sector Index (view definition)
Morningstar Technology Category (view definition)
Lipper Science & Technology Category (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 reimbursements 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 reimbursements.
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) | 20.93% | 31.02% | 5.60% | 15.00% | 13.47% | 13.57% | 04/02/2007 |
| S&P North American Technology Sector TR Index(%) | 22.94% | 33.94% | 20.77% | 20.34% | 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) | 8.78% | 40.43% | 7.60% | 16.41% | 13.46% | 13.91% | 04/02/2007 |
| S&P North American Technology Sector TR Index(%) | 9.38% | 44.57% | 22.24% | 20.68% | 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 | 3 | 231 |
| 3 years | 3 | 231 |
| 5 years | 3 | 201 |
| 10 years | 2 | 156 |
| Morningstar category | Technology | |
(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 | 51 / 266 |
| 3 years | 107 / 231 |
| 5 years | 121 / 201 |
| 10 years | 123 / 156 |
| Morningstar category | Technology |
(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 | 42 / 184 |
| 3 years | 87 / 167 |
| 5 years | 95 / 148 |
| 10 years | 98 / 126 |
| Lipper classification | Lipper Science & Technology Funds |
(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
0.91%
Calendar year total returns @ NAV
Year
Annual return
Year
Annual return
2023
41.00%
2022
-32.25%
2021
15.64%
2020
36.32%
2019
50.51%
2018
-4.90%
2017
33.13%
2016
1.99%
2015
-2.87%
2014
4.60%
Portfolio
Portfolio characteristics as of 07/31/2024
Number of holdings
34
Market cap (median) Source: FactSet
$117.5 billion
Market cap (weighted average) Source: FactSet
$983.1 billion
Portfolio turnover (last fiscal year)
29%
Beta (relative to S&P North American Technology Sector TR Index) (view definition)
0.94
Annualized standard deviation, 3 years (view definition)
23.98
Portfolio composition as of 07/31/2024
Total may not equal 100% due to rounding.
Domestic equities
85.9%
International equities & depositary receipts
12.7%
Cash, cash equivalents and other assets
1.4%
Top 10 holdings as of 07/31/2024
Holdings are as of the date indicated and subject to change.
List may exclude cash and cash equivalents. Please see the Fund's complete list of holdings for more information.
Holdings based by issuer.
Holding
% of portfolio
Holding
% of portfolio
NVIDIA CORPORATION
8.72
MICROSOFT CORPORATION
7.45
SEAGATE TECHNOLOGY UNLIMITED CO
5.82
BROADCOM INC
5.43
AMAZON.COM INC
4.84
ZEBRA TECHNOLOGIES CORPORATION
4.36
APPLE INC
4.24
ASML HOLDING NV
3.91
TAIWAN SEMICONDUCTOR MANUFACTURING CO LT
3.63
Total % Portfolio in Top 10 holdings - 56.93%
List of monthly holdings
List of quarterly holdings
Sector allocation as of 07/31/2024
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
- Chart
- Table
Sector
Fund
Sector
Fund
Information technology
67.8%
Communication services
13.5%
Consumer discretionary
9.5%
Healthcare
4.5%
Industrials
3.3%
Distribution history - annual distributions (Class I)1,2
Distributions ($ per share)
Year
Capital gains3
Net investment income
Year
Capital gains3
Net investment income
2024
0.000
0.000
2023
5.331
0.000
2022
12.373
0.000
2021
30.863
0.000
2020
7.937
0.000
2019
8.305
0.000
2018
7.451
0.000
2017
4.537
0.000
2016
0.000
0.000
2015
1.260
0.000
2014
1.165
0.000
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
Gus C. Zinn,CFA
- Managing Director, Senior Portfolio Manager
- Start date on the Fund: December 2021
- Years of industry experience: 26
- Read bio
Biography
Gus C. Zinn
Managing Director, Senior Portfolio Manager
- Joined Ivy Investments in 1998, acquired by Macquarie in 2021
- Based in Kansas City
Gus is a Senior Portfolio Manager for Macquarie Asset Management’s (MAM’s) Ivy Science and Technology Team, where he is responsible for making day-to-day investment decisions for the team’s strategy.
Gus has served as Portfolio Manager for Ivy Investments since 2006. He had served as Assistant Portfolio Manager for funds managed by Ivy Investments since July 2003, in addition to his duties as a Research Analyst.
Gus is on the finance council at St. Ann Church in Kansas City. He also acts as a guest teacher in economics four times per semester at Rockhurst High School. His focus is on the basics of fundamental analysis for equities.
Gus earned a Bachelor of Science and a Master of Science in finance from the University of Wisconsin-Madison. He holds the Chartered Financial Analyst® designation.
Bradley Warden,CFA
- Managing Director, Senior Portfolio Manager
- Start date on the Fund: October 2016
- Years of industry experience: 27
- Read bio
Biography
Bradley Warden
Managing Director, Senior Portfolio Manager
- Joined Ivy Investments in 2003, acquired by Macquarie in 2021
- Based in Kansas City
Brad is a Senior Portfolio Manager for Macquarie Asset Management’s (MAM’s) Ivy Science and Technology Team, where he is responsible for making day-to-day investment decisions for the team’s strategy.
Brad joined Ivy Investments as an Investment Analyst covering multiple areas of technology and healthcare, and he became an Assistant Portfolio Manager for the firm in 2014 and a Portfolio Manager in 2016.
Brad serves as a volunteer Investment Counselor and Advisory Committee member to the Texas McCombs Investment Advisors LLC, a student-managed fund at the University of Texas at Austin.
He earned a Bachelor of Science in business administration from Trinity University and a Master of Business Administration in finance from the University of Texas at Austin. He holds the Chartered Financial Analyst® designation.
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 | 0.80% |
| Distribution and service (12b-1) fees | none |
| Other expenses | 0.11% |
| Total annual fund operating expenses | 0.91% |
Please see the prospectus and SAI for additional information.
Class I shares are available only to certain investors. See the prospectus for more information.
1The Fund’s investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any acquired fund fees and expenses, taxes, interest, short sale dividend and interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 0.96% of the Fund’s average daily net assets from July 29, 2021 through July 29, 2022. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.
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 Fund's investment manager, Delaware Management Company (Manager), may seek investment advice and recommendations from its affiliates: Macquarie Investment Management Europe Limited (MIMEL), Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), 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 DMC believes it will be beneficial to utilize an Affiliated Sub-Advisor’s specialized market knowledge.
Investing involves risk, including the possible loss of principal.
Because the Fund invests more than 25% of its total assets in the science and technology industry, the Fund’s performance may be more susceptible to a single economic, regulatory or technological occurrence than a fund that does not concentrate its investments in this industry.
“Non-diversified” funds may allocate more of their net assets to investments in single securities than “diversified” funds. Resulting adverse effects may subject these funds to greater risks and volatility.
Investment risks associated with investing in science and technology securities, in addition to other risks, include: operating in rapidly changing fields, abrupt or erratic market movements, limited product lines, markets or financial resources, management that is dependent on a limited number of people, short product cycles, aggressive pricing of products and services, new market entrants and obsolescence of existing technology.
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 Series' 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 Series from executing advantageous investment decisions in a timely manner and could negatively impact the Series' ability to achieve its investment objective. Any such event(s) could have a significant adverse impact on the value and risk profile of the Series.
Not FDIC Insured • No Bank Guarantee • May Lose Value
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