Waddell & Reed

Fund Detail

Ivy Energy Fund
Class A Shares

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Fund Facts
Ticker Symbol IEYAX
CUSIP 466000395
Fund Code 694
Fund Type Specialty Funds
Fund Inception 4/3/2006
Class Inception 4/3/2006
Fiscal Year End March
Dividends Paid December
Fund Assets (as of 2/28/2015) $430.0 mil
Total Equity Holdings (as of 2/28/2015) 64
Total Holdings (as of 2/28/2015) 69
Lipper Category Natural Resources Funds
Morningstar Category Equity Energy
Benchmarks S&P 1500 Energy TR
Daily Prices
as of 3/27/2015
Net Asset Value (NAV) $13.87
NAV Change ($) ($0.08)
NAV Change (%) -0.57%
Weekly NAV Change ($) $0.02
Weekly NAV Change (%) 0.14%
Public Offering Price (POP) $14.72
Historical Prices & Distributions
Please select a date
Fund Description

Take a long-term, diversified approach to energy investing

Experience that counts
Portfolio Manager David Ginther, CPA, has managed the Fund since inception. He has a decade of experience in the international operations of a major oil company.
Focus on fundamentals
A disciplined process focuses on long-term fundamentals that drive stock performance and investment in long-term secular change.
Long-term view
The Fund’s long-term approach seeks potential opportunities around the world, including surging demand in developing markets such as China and India, continued growth in U.S. energy production and the global expansion of deep-water production.
Morningstar Style Box
Source: Morningstar
Returns and Expenses

Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Performance at NAV does not include the effect of sales charges. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.

Monthly Rates of Return Average Annual Total Returns
as of 2/28/2015
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 1.88% -11.49% 1.89% 5.36% N/A 3.95%
Fund with 5.75% sales charge -3.95% -16.57% -0.09% 4.12% N/A 3.26%
S&P 1500 Energy TR -0.77% -8.57% 3.11% 8.70% 7.22% 5.92%
Lipper Natural Resources Funds 1.27% -15.10% -0.89% 4.25% 5.20% 2.17%
Quarterly Rates of Return Average Annual Total Returns
as of 12/31/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -10.65% -10.65% 4.61% 4.78% N/A 3.80%
Fund with 5.75% sales charge -15.82% -15.82% 2.56% 3.54% N/A 3.10%
S&P 1500 Energy TR -9.16% -9.16% 5.92% 8.43% 9.42% 6.13%
Lipper Natural Resources Funds -14.81% -14.81% 2.23% 3.74% 6.72% 2.10%
Expense Ratios
as of 7/31/2014
Net 1.60%
Gross 1.60%
Growth of a $10,000 Investment
through 2/28/2015

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

Ratings and Rankings
Lipper Rankings
as of 2/28/2015
Category: Natural Resources Funds
  Rank Percentile
1 Year 33 / 84 39
3 Year 21 / 70 30
5 Year 26 / 63 41

Rankings are based on average annual total returns, but do not consider sales charges.

Morningstar Ratings
as of 2/28/2015
Category: Equity Energy
Overall (out of 81 Equity Energy)
3 Year (out of 81 Equity Energy)
5 Year (out of 75 Equity Energy)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 2/28/2015)
Domestic Common Stock 85.77%
Foreign Common Stock 10.31%
Cash and Cash Equivalents 3.92%
Sector Allocation
(as a % of equity holdings as of 2/28/2015)
Energy 93.1%
Industrials 4.7%
Financials 2.2%
Top 10 Equity Holdings
(as a % of net assets as of 2/28/2015)
Schlumberger Limited operates as an oilfield services company in the United States and internationally.Schlumberger Ltd. 3.7%
Halliburton Company provides various products and services to the energy industry for the exploration, development, and production of oil and gas properties worldwide.Halliburton Co. 3.6%
Baker Hughes Incorporated is engaged in the oilfield services industry.Baker Hughes, Inc. 3.5%
Cimarex Energy Company operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. The company owns interests in 4,160 net productive oil and gas wells.Cimarex Energy Co. 3.0%
EOG Resources, Inc., explores, develops, produces and markets natural gas and crude oil primarily in producing basins in the United States, Canada, The Republic of Trinidad and Tobago, the United Kingdom, and The People's Republic of China.EOG Resources, Inc. 3.0%
Marathon Petroleum Corporation (MPC) is a petroleum product refiner, transporter and marketer in the United States. The Company operates in three segments: Refining & Marketing, Speedway and Pipeline Transportation.Marathon Petroleum Corp. 2.6%
Weatherford International Ltd. 2.4%
Pioneer Natural Resources Company (Pioneer) is an independent oil and gas exploration and production company with operations in the United States and South Africa.Pioneer Natural Resources Co. 2.4%
Tesoro Corp. 2.4%
Phillips 66 is an independent downstream energy company that operates in refining & marketing, midstream and chemicalsPhillips 66 2.4%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 12/31/2014)

Risk Factors: As with any mutual fund, the value of the Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. These and other risks are more fully described in the fund's prospectus. Not all funds or fund classes may be offered at all broker/ dealers.

Pricing: All prices and year-to-date returns are based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time.

Stylebox: The Morningstar Equity style box reveals a fund's investment strategy by displaying the fund's investment style and the market capitalization of the stocks owned.

Index Description: S&P 1500 Energy Sector is an unmanaged index comprised of securities that represent the energy sector of the stock market. It is not possible to invest directly in an index.

Performance results for some funds may include the effect of expense reduction arrangements. If those arrangements had not been in place, the performance results would have been lower.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2015, to the extent that the total annual ordinary fund operating expenses of the Class Y shares exceeds the total annual ordinary fund operating expenses of the Class A shares, Ivy Funds Distributor, Inc. (IFDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated by IFDI, WISC or the Board of Trustees.

Morningstar Ratings: For each fund with at least a 3-year history, Morningstar calculates a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of all sales charges), placing emphasis on downward variations and rewarding consistent performance. 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 and rated separately.) A fund's overall rating is derived from a weighted average of the 3-, 5- and 10-year (if applicable) rating metrics. Morningstar Rating is for the share classes specified; other classes may have different performance characteristics.

Information is subject to change and is not intended to represent any past or future investment recommendations.

Please remember that an investment in a mutual fund involves risk. Investment return and principal value of a mutual fund investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

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