Waddell & Reed

Fund Detail

Ivy Global Equity Income Fund
Class A Shares

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Fund Facts
Ticker Symbol IBIAX
CUSIP 465899631
Fund Code 659
Fund Type Global/International
Fund Inception 6/4/2012
Class Inception 6/4/2012
Fiscal Year End March
Dividends Paid March, June, September, December
Fund Assets (as of 7/31/2015) $305.0 mil
Total Equity Holdings (as of 7/31/2015) 75
Total Holdings (as of 7/31/2015) 77
Portfolio Turnover Rate (as of 3/31/2015) 137%
Lipper Category Global Equity Income Funds
Morningstar Category World Stock
Benchmarks MSCI World High Dividend Yield NR USD
Daily Prices
as of 8/28/2015
Net Asset Value (NAV) $12.59
NAV Change ($) $0.02
NAV Change (%) 0.16%
Weekly NAV Change ($) $0.13
Weekly NAV Change (%) 1.04%
Public Offering Price (POP) $13.36
Historical Prices & Distributions
Please select a date
Fund Description

Seeking growth and income across the globe

Global diversification
Flexibility to invest in stocks trading in most countries around the world in a variety of economic sectors and industries.
Income potential
Seeks income generating securities with favorable prospects for total return.
Experienced management
Portfolio manager experience is approximately 20 years and supported by more than 70 investment professionals.
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 7/31/2015
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 5.88% 4.85% 12.11% N/A N/A 14.53%
Fund with 5.75% sales charge -0.23% -1.22% 9.93% N/A N/A 12.40%
MSCI World High Dividend Yield NR USD 1.03% -2.36% 10.13% 10.49% 5.31% 13.24%
Lipper Global Equity Income Funds 2.06% -0.25% 10.41% 9.33% 3.84% 12.71%
Quarterly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 6/30/2015
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 2.94% -0.52% 11.99% N/A N/A 13.91%
Fund with 5.75% sales charge -3.00% -6.28% 9.80% N/A N/A 11.74%
MSCI World High Dividend Yield NR USD -0.63% -5.73% 10.48% 11.97% 5.37% 13.02%
Lipper Global Equity Income Funds 0.87% -3.52% 10.52% 10.82% 4.13% 12.65%
Expense Ratios
as of 7/31/2015
Net 1.31%
Gross 1.41%
12-Month Trailing Distribution Yield
as of 7/31/2015
NAV 2.97%
With sales charge 2.80%
Annualized 30-Day SEC Yield
as of 7/31/2015
Subsidized 2.31%
Unsubsidized 2.28%
Growth of a $10,000 Investment
through 7/31/2015

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 7/31/2015
Category: Global Equity Income Funds
  Rank Percentile
1 Year 30 / 141 22
3 Year 25 / 105 24

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

Morningstar Ratings
as of 7/31/2015
Category: World Stock
Overall (out of 975 World Stock)
3 Year (out of 975 World Stock)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 7/31/2015)
Foreign Common Stock 75.59%
Domestic Common Stock 22.77%
Cash and Cash Equivalents 1.64%
Sector Allocation
(as a % of equity holdings as of 7/31/2015)
Health Care 17.8%
Industrials 14.2%
Consumer Staples 12.7%
Consumer Discretionary 10.4%
Financials 10.3%
Utilities 9.6%
Telecommunication Services 9.5%
Energy 5.7%
Materials 5.6%
Information Technology 4.2%
Country Allocation
(as a % of equity holdings as of 7/31/2015)
United Kingdom 24.7%
United States 23.2%
France 12.8%
Switzerland 6.1%
Spain 4.5%
Australia 4.3%
Israel 3.7%
Netherlands 3.7%
Japan 2.9%
Italy 2.7%
Ireland 2.6%
Norway 2.1%
Canada 1.2%
Denmark 1.1%
Germany 1.1%
Sweden 1.1%
Singapore 1.0%
Finland 0.5%
Belgium 0.5%
Top 10 Equity Holdings
(as a % of net assets as of 7/31/2015)
Teva Pharmaceutical Industries Ltd (Teva) is a global pharmaceutical and drug company. It develops, produces and markets generic drugs in all treatment categories. Teva Pharmaceutical Industries Ltd. ADR 2.42%
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. The Company manages its operations through five segments: Primary Care; Specialty Care and Oncology; Established Products and Emerging Markets; Animal Health and Consumer Healthcare, and Nutrition.Pfizer, Inc. 2.24%
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services.Lockheed Martin Corp. 2.13%
Global provider of defense and security products, including cyber services, military support, electronic systems and protection equipment.BAE Systems plc 2.08%
Marine Harvest ASA, a seafood company, produces and sells farmed salmon products worldwide. It is engaged in the fish farming, processing, and smoking activities.Marine Harvest ASA 2.08%
PPL Corporation, a utility company, delivers electricity and natural gas in the U.S. and the United Kingdom.PPL Corp. 2.05%
France Telecom is a French multinational telecommunications corporation.France Telecom 2.03%
Royal Dutch Shell plc (Shell) is an independent oil and gas company.Royal Dutch Shell plc, Class A 1.99%
Largest distributor of natural gas in the Northeast U.S.; also operates systems that deliver electricity and gas across Great Britain.National Grid plc 1.98%
Johnson & Johnson is a holding company. The Company, along with its subsidiaries, is engaged in the research and development, manufacture and sale of a range of products in the healthcare field.Johnson & Johnson 1.97%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 6/30/2015)

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: MSCI World High Div Yld NR USD - MSCI World High Dividend Yield Index is designed to reflect the performance of equities (excluding REITs) with higher than average dividend yields that are both sustainable and persistent, first calculated on 5/31/2006. 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, 2016, Ivy Investment Management Company (IICO), the Fund’s investment manager, 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 management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses for the Fund’s Class A shares at 1.30%, Class I shares at 0.94% and Class Y shares at 1.19%. Prior to that date, the expense limitation may not be terminated by IICO, IFDI, WISC or the Board of Trustees.

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.

30-Day SEC Yield: is calculated based on a formula mandated by the Securities and Exchange Commission (SEC) that calculates a fund's hypothetical annualized income, as a percentage of its assets. A security's income, for the purposes of this calculation, is based on the current market yield to maturity (in the case of bonds) or projected dividend yield (for stocks) of the fund's holdings over a trailing 30 day period. This hypothetical income will differ (at times, significantly) from the fund's actual experience; as a result, income distributions from the fund may be higher or lower than implied by the SEC yield.

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.

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