Waddell & Reed

Fund Detail

Ivy European Opportunities Fund
Class A Shares

Please select a fund and share class

Fund Facts
Ticker Symbol IEOAX
CUSIP 465898815
Fund Code 614
Fund Type Global/International
Fund Inception 5/4/1999
Class Inception 5/4/1999
Fiscal Year End March
Dividends Paid December
Fund Assets (as of 4/30/2016) $222.9 mil
Total Equity Holdings (as of 4/30/2016) 74
Total Holdings (as of 4/30/2016) 75
Portfolio Turnover Rate (as of 3/31/2016) 91%
Lipper Category European Region Funds
Morningstar Category Europe Stock
Benchmarks MSCI Europe NR USD
Daily Prices
as of 5/27/2016
Net Asset Value (NAV) $27.23
NAV Change ($) ($0.11)
NAV Change (%) -0.40%
Weekly NAV Change ($) $0.76
Weekly NAV Change (%) 2.87%
Public Offering Price (POP) $28.89
Historical Prices & Distributions
Please select a date
Fund Description


Ivy European Opportunities Fund invests, under normal circumstances, at least 80% of its net assets in the equity securities of European companies. While the Fund tends to favor securities issued by large capitalization European companies, it may invest in securities issued by European companies of any size that provide investment opportunities. The Fund's manager combines a top-down, macro approach with a bottom-up stock selection process, using a combination of industry dynamics, country analysis, and individual stock selection in comprising the portfolio.
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
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 4/30/2016
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -5.32% -10.86% 2.81% 1.04% 0.26% 12.21%
Fund with 5.75% sales charge -10.76% -16.00% 0.80% -0.15% -0.33% 11.82%
MSCI Europe NR USD -0.12% -10.11% 2.09% 0.99% 1.79% 3.34%
Lipper European Region Funds -1.00% -7.41% 3.54% 2.07% 2.22% N/A
Quarterly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 3/31/2016
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -6.84% -9.62% 2.93% 1.97% 0.72% 12.16%
Fund with 5.75% sales charge -12.19% -14.82% 0.92% 0.77% 0.12% 11.77%
MSCI Europe NR USD -2.51% -8.44% 2.71% 2.07% 2.05% 3.21%
Lipper European Region Funds -2.75% -5.76% 4.12% 3.14% 2.56% N/A
Expense Ratios
as of 7/31/2015
Net 1.70%
Gross 1.70%
Growth of a $10,000 Investment
through 4/30/2016
 European Opportunities A

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 4/30/2016
Category: European Region Funds
  Rank Percentile
1 Year 114 / 148 77
3 Year 61 / 107 57
5 Year 58 / 86 67
10 Year 62 / 70 88

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

Morningstar Ratings
as of 4/30/2016
Category: Europe Stock
Overall (out of 91 Europe Stock)
3 Year (out of 91 Europe Stock)
5 Year (out of 77 Europe Stock)
10 Year (out of 63 Europe Stock)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 4/30/2016)
Foreign Common Stock 97.95%
Domestic Common Stock 1.98%
Cash and Cash Equivalents 0.07%
Sector Allocation
(as a % of equity holdings as of 4/30/2016)
Industrials 16.5%
Financials 15.1%
Consumer Staples 15.0%
Health Care 14.7%
Consumer Discretionary 11.5%
Information Technology 6.8%
Energy 6.7%
Utilities 5.0%
Telecommunication Services 4.6%
Materials 4.1%
Equity Country Allocation
(as a % of equity holdings as of 4/30/2016)
United Kingdom 30.8%
France 28.1%
Netherlands 9.9%
Germany 7.9%
Switzerland 5.1%
Ireland 4.1%
Spain 4.0%
Norway 2.7%
Italy 2.4%
United States 2.0%
Denmark 1.5%
Belgium 1.5%
Top 10 Equity Holdings
(as a % of net assets as of 4/30/2016)
Shire plc, a biopharmaceutical company, researches, develops, manufactures, sells, and distributes pharmaceutical products. It operates in three segments: Specialty Pharmaceuticals, Human Genetic Therapies and Regenerative Medicine.Shire plc 3.05%
Renault SA designs, manufactures, markets, and repairs passenger cars and light commercial vehicles. The Company also provides financing and service solutions, including credit for new and used vehicles.Renault S.A. 2.87%
[Note: AXA Group is what yahoo points to] AXA Group, through its subsidiaries, provides insurance and asset management services, primarily in Europe, North America and Asia.Axa S.A. 2.75%
Prudential plc (Prudential) is United Kingdom-based international financial services company with its principal operations in the United Kingdom, the United States and Asia.Prudential plc 2.68%
SABMiller plc, through its subsidiaries, engages in the manufacture, distribution, and sale of beverages. It offers beer, soft drinks, and fruit juices. The company is also involved in brewing and hop farming activities. In addition, it bottles soft drinks for The Coca-Cola Company.SABMiller plc 2.25%
Roche Holdings AG is a Switzerland-based pharmaceuticals and diagnostics company.Roche Holdings AG, Genusscheine 2.23%
Thales 2.15%
ING Groep N.V. (ING) is a global financial institution offering banking, investments, life insurance and retirement services to meet the needs of the customers.ING Groep N.V., Certicaaten Van Aandelen 2.05%
Imperial Tobacco is a leading international tobacco company, which manufactures, markets and sells a comprehensive range of cigarettes, tobaccos, rolling papers, filter tubes and cigars.Imperial Tobacco Group plc 2.01%
Infineon Technologies AG 2.01%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 3/31/2016)
Top 10 Industry Allocation
(as a % of equity holdings as of 4/30/2016)
Pharmaceuticals 11.4%
Diversified Banks 9.7%
Aerospace & Defense 5.6%
Packaged Foods & Meats 5.4%
Multi-Utilities 3.6%
Integrated Telecommunication Services 3.6%
Brewers 3.4%
Oil & Gas Exploration & Production 3.4%
Integrated Oil & Gas 3.3%
Automobile Manufacturers 2.9%

Risk Factors: 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: MSCI Europe is an unmanaged index comprised of securities that represent the securities markets in Europe. It is not possible to invest directly in an index.

The MSCI information may only be used for your internal use, may not be reproduced or repurposed in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, salability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com) Source: MSCI.

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.

A large portion of the fund's since inception return is attributable to investments in initial public offerings, without which the fund's return would have been lower.

Unsubsidized yields reflect what the yield would have been without the effect of reimbursements and waivers. The adviser and its affiliates have or may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (12b-1) fees) and reimburse certain expenses. There is no guarantee that the fund will avoid a negative yield. Such undertaking may be amended or withdrawn at any time.

12-Month Trailing Distribution Yield: at NAV refers to the 12-month historical cash flow paid over the past 12 months in dividends, divided by the past months ending NAV.

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.

Financial Advisor Opportunities
Corporate Careers